Jay's Blog

                     Time Is On Your Side
 Looking at a number of common scams, there is a common thread that
runs through all of them. For example:
1) You receive a call from someone purporting to be a close relative
in a third-world country who's in jail. If you don't send funds
immediately they will be charged, imprisoned, etc.
2) You receive a call supposedly from the IRS saying you will be
arrested for past due taxes unless you send money right away. Also
done with fines, traffic tickets, etc.
3) You get a call from a person claiming to be a bank examiner,
stating there's a dishonest employee at your bank. You must
immediately withdraw funds and forward to them.
4) You have won a big lottery in a foreign country, but you have to
forward funds to them right away for taxes.
5) An heir you never heard of in Canada has died, leaving you a huge
life insurance policy, but you have to send money right away to the
attorney handling the estate.
    What's in common---it has to be done right away. In many cases the
scammer tries to keep you on the phone while you go somewhere to get
gift cards to forward them (or now bitcoin).
They want you to send money before you have time to think, or consult
someone. This is a big red flag; none of these things happen that
quickly, nor are they done by phone calls. Long ago an old attorney
told me "When somebody tells you something has to be done this minute
(he was speaking in the context of real estate transactions or
contracts), go home and sit out on the porch with a drink, a cigar and
think about it. 99% of the time you will decide it's not that urgent,
and usually you shouldn't do it at all."
When you are told it's that urgent, stop and think. Hang up the phone.
Demand a name and callback number. Call one of us at the bank. Nights,
weekends don't hesitate to call me--712-242-5696. - Jay