There are so many different scams that keep coming up these days that it is hard to keep track of them. You would be forgiven if you didn’t know the name for a particular way in which people can cheat you. But there is also the case of you knowing about the way a scam is done but not knowing the name behind it. So, we would like to expand your knowledge a little in this field and talk about a new confidence trick that can be pulled on you. Known as the money switch scam, this lets people take your money and leave you with something else. This else generally refers to an envelope of paper that you will be thinking of as the money. One reason you might not be knowing about this is due to the fact of how simple it is in its execution. That is a good reason as to why this particular scam tends to succeed compared to the others. But why does it work?

Like Magic

It can be argued that the speed with which the scam is pulled off is something that is more like magic. The person committing the crime switches the two envelopes so smoothly that you do not notice it. They will have completed it so quickly you would not even realise what has hit you. It is also dependent on the way you are approached by this person. They will make it look like they want your help. You would agree to this thinking that you are being a nice person. You are but it is going to cost you. This leads us to the other part of this scam.

Prevention

If you are reading this, then you have already taken the first step towards preventing such a scam from happening to you. But the only real way for you to be safe is to be vigilant. We know that this is easier said than done but it still has to be thought about. And the biggest red flag that you will come across is the envelopes. When you hear them being mentioned, you will know that something is fishy.

So, preventing this from happening is a little tricky but it is not tough. We feel that by being more aware of what is happening around you, it puts you in an advantageous position.