Financial scams have been on the rise recently. Daily, many unsuspecting people are falling victims to these scams. And there’s a compelling need to warn people of them. Regarding students’ loans, diverse ways are being created to scam people. This also needs to be met by protective methods.
For this reason, this interview will be featuring representatives of F.H. Cann & Associates Inc. They will be walking you through how these financial scams are done and how to avoid them.
Can you explain why you have made it your responsibility to warn people of financial scams in 2021
F.H. Cann & Associates Inc. is a responsible and community-driven organization. We believe it is our way of helping to rid society of illegal activities like online financial scams.
This is why we have embarked on a campaign to educate people across different locations on financial scams. The goal is to have an ideal society where people do not prey on others to achieve financial scams.
Tell us a bit about the #DontBeFooled campaign
#DontBeFooled campaign was embarked upon to sensitize the public about the new methods they can get financially scammed in 2021. The campaign also involves telling them the ways to avoid these scams.
As a responsible organization, we believe we can also lend our voices to the campaign against online scams. This is why we have partnered with student advocacy agencies to launch the #Don’tBeFooled campaign.
Student Debt Relief Scams are on the rise!
☑️ Know the signs
☑️ Get the facts
☑️ Stop Student Borrower Scams
Never share your FSA PIN or servicer password with a third party. No legitimate organization will ever ask you for this information. pic.twitter.com/7i4rauzG8H
— FH Cann & Associates (@fhcann) April 8, 2021
What are the common ways people are falling prey to financial scams in 2021?
Financial scams are not static activities; they are multi-dimensional. This means that daily, people are finding new ways to achieve their financial onslaught on the internet.
But then, F.H. Cann & Associates Inc. has found some commonly used methods by scammers. These methods are:
- Being asked to pay upfront or a monthly fee for a student’s loan. People must realize that help for federal financial aid is completely free. As such, anyone asking to pay for it is a scam.
- Promises that sound too good to be true. Scammers want you to fall for them, so they make you an offer that’s exaggerated. When you discover this, try to run a mile away.
- Being asked to share your FSA pin or servicer password.
How are you warning people about these scams?
F.H. Cann & Associates Inc. has decided to partner with student advocacy groups to campaign against this online financial scam. Some of the ways we are doing this are through sensitization and reporting of these scams.
We’ve partnered with other student advocacy agencies to launch the national #DontBeFooled campaign with all the information you need to spot and avoid a scam that could cause you to lose money for services you can get for free.
— FH Cann & Associates (@fhcann) April 7, 2021
We have told people to
- Always verify the email addresses and websites being used. There would be similarities, but if they look closely, they can always tell the difference between the fake and the authorised ones.
- Not give out their FSA pin or servicer password to anyone
- Constantly educate themselves about the options that are available for loan aids. Ensure they do this through the official and verified websites.
- Don’t ever pay to get student’s loan help. It is completely free, and no legitimate servicer will ask them for payment.
Do you think there are other things that anyone can do to stop these financial scams?
Yes, we believe there are many other things that people can do. Financial scams are multi-dimensional, and people have to be alert at all times to combat them.
For instance, if you notice some of the scams we mentioned earlier, you can report them to the authorities. As much as possible, try to publicize your story so that others too can avoid such methods.
You can report the account through which the scam is being carried out. You can also sensitize people in your community about the possibilities of being scammed and how to avoid it.
We believe that collective efforts like these would help everyone win the war against these financial scams.