Whether you find yourself suddenly dealing with a higher-than-expected utility bill or are struggling to save for a vacation, household repair, or your kids’ college tuition, practically everyone would like to have a little more money in their bank account from time to time. And while the right savings accounts or investments may help your money grow over time, there’s one financial offer you’re better off avoiding entirely—even if it’s being offered by your own bank.
Read on to discover which message from your bank could put your personal information and money into the wrong hands and what to do if you’ve been targeted.
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If you’re offered a prime bank guarantee by someone claiming to be from your own banking institution or another well-known bank, never accept it under any circumstances.
Prime bank guarantees are investment schemes that promises to deliver a significant amount of money to those who invest. However, these supposedly bank-backed investments, also referred to as “roll promises,” are actually scams perpetrated by fraudsters who take the money you’ve “invested” and provide you nothing in return.
“The purpose of these frauds is generally to encourage the victim to send money to a foreign bank, where it is eventually transferred to an off-shore account in the control of…
