05 – Scams: Methods to Prevent Them and Protect Your Savings

Lesson 5 – The Best Free Finance Course in History

In this lesson, we'll cover something key: how to defend yourself against scams. These days, thieves are rife, trying to steal from you by extracting information, money, or selling you useless courses. Let's take a detailed look at how they operate and how you can defend yourself.

Course index:

Basic Concepts of Money and Personal Finance
Introduction to the value of money, the importance of saving, and spending control.
Budgeting and Financial Planning
Create a personal budget, manage income and expenses, and set financial goals.
Inflation and Purchasing Power
Explanation of how inflation affects the value of money over time.
Interest Rates and Time in Finance
Differences between simple and compound interest rates and their importance in investments.
How to protect your savings. Protect yourself from scams.
How to protect your money from the scams that abound today
Basic Savings Instruments
Explanation of savings accounts, term deposits, and how they work.
Introduction to the Stock Market
Basic concepts of the stock market and its role in the global economy.
Actions: What They Are and How They Work
Explanation of stocks, types (common and preferred), and how to invest in them.
Bonds: What They Are and How They Work
Differences between corporate and government bonds, and their importance in diversification.
Risk vs. Return on Investments
Concept of risk and how it affects investment choices.
Diversification and Creation of Basic Portfolios
Basic diversification principles to reduce risk in an investment portfolio.
What is an ETF and How Does it Work?
Introduction to ETFs (exchange-traded funds) and how they track market indices.
Introduction to Mutual Funds
An explanation of mutual funds and their benefits for beginners.
Financial education for the family.
Economic Cycle and its Impact on Investments
How the stages of expansion and contraction in the economy affect investments.
Growth Stocks vs. Value Stocks
Differences between these types of actions and when each is appropriate.
Fundamental Analysis of Stocks
Explanation of how to analyze a company's value based on its fundamentals.
Basic Technical Analysis: Charts and Patterns
Introduction to basic technical analysis tools, such as trend lines and candlestick patterns.
Options: What They Are and How They Work
Basic concepts of call and put options and their uses in investments.
Futures: What They Are and How They Work
Introduction to futures contracts and their application in investment and speculation.
Introduction to Cryptocurrencies
What is digital money, how it was created, and the characteristics of Bitcoin and other cryptocurrencies.
Blockchain and its Importance in Finance
How the technology behind cryptocurrencies works and their applications in finance.
Risks in Cryptocurrency Trading
Volatility, fraud, and regulations in the cryptocurrency market.
Leverage Principles and its Risk
What it means to trade with leverage and the associated risks.
Investor Psychology and Emotion Management
How emotions influence investment decisions and tips for managing them.
What is Algorithmic Trading
Basic explanation of the use of algorithms to perform operations in the financial market.
Financial Analysis of Companies
Introduction to basic financial statements and their interpretation for valuing companies.
Investing in Commodities: Gold, Oil, and Other Goods
How commodity investments work and their role in diversification.
Advanced Investment Strategies: Hedging and Derivatives
Introduction to strategies for managing risks through financial derivatives.
Creating and Managing a Complete Portfolio
Practical application of prior knowledge to build and manage a diversified portfolio.

How to Prevent Financial Scams: A Simple Guide to Protecting Your Money

There are many scams out there these days. Criminals are always looking for ways to trick people into giving up their money. But don't worry, because in this guide, I'll explain in a simple way how to avoid falling for a financial scam.

What is a financial scam?

A financial scam is when someone tries to trick you into giving them your money. This can happen through fake messages, phone calls, bogus investments, or promises of easy money.

Some examples

WhatsApp or SMS scams
- You receive a message saying: "Congratulations, you won a MercadoLibre sweepstakes. Click here to claim your prize."
- They supposedly write to you from your bank saying that your account is blocked and that you have to click on a link to activate it.
- A contact contacts you on WhatsApp asking for money because they "ran out of credit," but in reality, they're a scammer who hacked their account.
Fake calls from the bank
- They call you saying there's a problem with your account and ask for your card's security code.
- They tell you they need to refund you money and need you to provide your home banking information.
- They pose as AFIP employees and threaten you with a fine if you don't pay immediately.
Pyramid schemes
- An acquaintance offers you a business where you invest money and earn more if you bring other people.
- They invite you to an "investment club" where everyone contributes money and they assure you that in the end you will receive double or triple.
- A so-called "financial coach" promises you fixed earnings for joining a sales system, but in reality, only the person who recruits the most people wins.
Investments too good to be true
- They offer you an investment where they guarantee you will earn 20% monthly without risk.
- Someone tells you they have inside information and that if you invest in a company now, you'll multiply your money in no time.
- You're offered to buy cryptocurrency on an unknown platform with the promise that "the price will never drop."
Phishing emails
- You receive an email that appears to be from Netflix saying your subscription has been suspended and that you need to enter your details to reactivate it.
- You receive an email from your bank informing you that there was a fraud attempt and that you should click on a link to verify your account.
- A message supposedly from the AFIP asks you to download a file containing a fake invoice.

How to avoid scams

Now that you know how scammers operate, I'll tell you what to do to avoid falling into their traps.

1. Be wary of unexpected gifts

If you receive a message saying you've won a prize without having entered any sweepstakes, it's probably a scam. No one just gives away money. And no, the Nigerian prince who inherited millions of dollars didn't just choose you... he wants to steal you! And he's not even a Nigerian prince!

2. Do not share your personal data

Banks will never ask you for your password or card details over the phone, WhatsApp, or email. If someone does, it's an attempt at fraud.

3. Look carefully at the links before clicking

If you receive a link in an email, check the address carefully. Scammers often create websites that look like banks or companies, but with slight differences in the name.

4. Don't invest in things that promise quick and secure profits

If someone tells you you can double your money in a few days without risk, they're lying. Real investments have risks and take time.

5. Don't click on messages of fear or urgency

Many scammers try to scare you by telling you that your account has been hacked or that you have to pay something urgently. Before doing anything, call the company or bank directly to verify.

6. Verify companies and people before giving money

If someone offers you a lucrative investment or job, look up information about the person or company online. Read reviews and check for complaints.

7. Protect your passwords

Don't use the same password for everything, and choose strong passwords that combine letters, numbers, and symbols. Don't share them with anyone.

8. Be careful with social media

Scammers also use Facebook, Instagram, and other social media platforms to deceive you. Don't trust unknown profiles offering you easy money.

9. Be wary of messages with spelling mistakes

Many scam emails and messages have spelling errors or strange names. If you see anything suspicious, don't reply or click on it.

10. Talk to someone you trust before making decisions

If you receive a strange offer or message, tell a friend or family member. Often, someone with experience can help you spot if it's a scam.

My experience: when they tried to scam me

The first time was the classic crybaby call in the middle of the night… they catch you asleep and distracted, when a call comes in from a crying woman who says "Daddy, Daddy." It's impossible to understand her over the wailing, so you can calmly tell her whatever name you think she is, a trick criminals use to say "yes, I'm xxxxx." I didn't have much fun this time, since I hung up, but I did have a bit of fun the second time.

Mercado Pago contacted me saying they wanted to withdraw money from my account and needed to validate it. To do this, they needed me to give them a code, which was actually so they could install the app on another phone and empty my account (and Mercado Pago also allows you to take out loans, so it would be more money than I had). I purposely entered the wrong numbers several times until they got tired, told me they were going to block my account, and hung up.

The third was even funnier: a contact's WhatsApp was stolen, with the same modus operandi as always: they call you and ask for the confirmation code, first they steal your WhatsApp. Then, although they don't have your contacts, when they steal your WhatsApp they do show them. groups. And that's where they get contacts.

In this case, they greeted me and asked if I could transfer the money to them, which they would then return to me. I politely replied yes, and within a few minutes I sent them the file that you can see at this link. The thief gave me a "haha"… I laughed even harder because I wasted his time. If you want to use this same method and send him that file, I'd be honored.

What to do if you've been scammed?

If you think you've fallen for a scam, don't despair. Do this:

Call your bankIf you gave your card details, let them know quickly so they can block it.
Report the fraudIn Argentina, you can report this to the police, the consumer protection agency, or the Specialized Cybercrime Prosecutor's Office (UFECI).
Let your contacts knowIf you've been scammed on WhatsApp or social media, tell your friends so the same thing doesn't happen to them.

The Ponzibros… Carlos Ponzi's successors

When we talk about ponzibros We're referring to a growing group of scammers who operate in a rather underhanded manner. They manage to feign a level of wealth they don't actually possess through various well-thought-out tricks. Then, they sell you their courses for thousands of dollars, which aren't really worth it (they're usually YouTube videos or very basic information that's freely available). Their real profit is getting "hotshots" to buy their courses, and the reality is they're not millionaires. Here I explain the most common strategies they use to deceive people and appear mega-successful:

1. Luxury rental cars

The classic: they pose next to Lamborghinis, Ferraris, or Porsches as if they were their own. In reality, they rent these cars for a few hours or days to film content. And the best part: they team up with several people to split the cost and have everyone take their own photos.
Some even pretend it's their car by asking permission at dealerships or luxury car events.

2. Expensive mansions and hotels for a short time

Many people take photos in Airbnb mansions or 5-star hotels, but they only rent for one night to make it look like they live there.
In other cases, they organize events in luxurious locations to reinforce their image as "successful businessmen."

3. Borrowed or counterfeit cash

Some people take out mountains of bills for photos, but that money isn't theirs. They borrow it, take it out on loans, or get it through dubious means.
Others simply use fake banknotes as props (available online at low cost).

4. Fake screenshots

They show supposed bank accounts with millions, but many times they are edited images.
In the case of trading, they use demo accounts or manipulate numbers to make it appear they are making fortunes.

5. Fake watches and brand name clothing

They wear replicas of Rolex, Audemars Piguet or Patek Philippe to appear rich.
Some people buy authentic brand name clothes, but return them after taking the photos.

6. Travel with discounts and promotions

They portray a life of luxury by traveling first class, but they often use miles, discounts, or sponsored flights. Or worse, they ask permission just to record the video, and then return to economy class.
They stay in luxury hotels just for the photos and then move on to cheaper accommodations.

7. Events to recruit more victims

They organize seminars or "exclusive retreats" where attendees pay fortunes to hear them talk about how to get rich.
The goal isn't to teach anything useful, but rather to sell his image as an "investment guru" and attract more followers.

All of this serves to sell their very expensive courses or attract more people to their pyramid scheme. In reality, Their real business is not investing, but convincing you that you can live like them… if you pay them first..

Get all three books now to make ends meet!

How to avoid falling into the Ponzi scheme:

🔹 Don't buy courses without researching: Look for other students' opinions and see if they actually teach something useful.
🔹 Be wary of luxuries they boast about: Many rent cars, watches and mansions just for show.
🔹 Ask what they really live on: If your only source of income is selling courses, you already know that you are the business.
🔹 Don't believe in "easy money" schemes: Every legitimate investment takes time and effort.

Conclusion

Financial scams are everywhere, but with some simple precautions you can avoid them. The most important thing is Be wary of offers that are too good to be true, don't share your data, and consult before making decisions.Take care of your money and don't let scammers take advantage of you. Your money is yours, and no one has the right to deceive you! And if one of these scammers writes to you... you can write them what the great Pappo Napolitano said:

Next course date

He March 14th. You will be able to access it with this link.

Questions for you to reflect on

In what situations might I be vulnerable to falling for a scam?

Does the desire to earn more money cloud my vision?

Do I realize that the risk outweighs the benefits of spending a fortune on a course?

A brief overview of The Pocket Investor

The Pocket Investor is a project that combines experience and passion for financial education to help you transform your relationship with money. Through personalized mentoringWe help you design investment strategies tailored to your goals and needs, optimizing your portfolio to address challenges like inflation and the dollar.

The books on finance and investment, including the popular The Argentine Pocket Investor - El Inversor de Bolsillo argentino, are practical tools that explain complex concepts in a simple way, bringing the world of investments closer to anyone interested in financial growth.

In addition, in the course The Pocket InvestorWe combine all this knowledge to offer you a complete experience: theory, practice, and strategies that truly work in the Argentine and global context. All this with a clear, friendly, and accessible approach, so you can achieve financial independence.

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