UTMA's Website Compass

WebsiteCompass 13 Sweepstakes scams are among the most highly reported to the U.S. Federal Trade Commission (FTC). A typical loss is over $900, but you can learn how to spot the signs and avoid becoming a victim. Only Criminals Win in Sweepstakes Scams The phrase, “You get a prize!” isn’t always good news Legitimate Contest Facts Real sweepstakes do exist. Here are some things to remember about them. • You must enter to win. A legitimate sweepstakes would never inform you that you have won a contest you didn’t enter. • Nothing bad will happen if you don’t participate. Legitimate sweepstakes will never mention negative consequences if you don’t respond to their communication immediately. • You will never be required to pay. You should never be asked to pay money or provide private financial information to enter a legitimate sweepstakes. Finally, winning isn’t guaranteed. In fact, you enter a legitimate sweepstakes knowing there is a high chance that you won’t win. How the ScamsWork In contrast to the practices described above, sweepstakes scams use malicious tactics. For example, they may disguise snail mail to make it look like it’s coming from a trusted source. These mailings may have fancy fonts, seals, and official-looking signatures. But their purpose is to tell you that you have “won” a sweepstakes, in hopes you will follow instructions to fork over payment to claim your “prize.” Phishing emails use the same tactics and goals. They inform you that you have won big and must provide money, a credit card number, or other financial information to collect the prize. The same strategy can be deployed using phone calls, text messages, or social media. Telltale Signs Scammers have come up with sophisticated and effective ways to con you out of your money. But you can outsmart them by learning their tricks. Watch for these telltale signs: You never entered the contest. If someone informs you that you have won a contest Back to Basics

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