Who hasn't dreamed of playing the stock market and making tons of money? If you pick the right stock to invest in you could see your money possibly double, triple or like in the case of Apple stocks quintuple.
According to Investopedia, if you had invested in Apple after it's IPO in December 1980 you could have bought 45 shares for $990. If you kept those stocks over the years they would increase due to several stock splits that took place in the 2000s, increasing present day total shares to 2,520. Those 2,520 have a combined value of $313,740, a total return on investment of 31,590%. That's like winning the lottery.
It takes skills to master the stock market though and a lot of information from reputable sources to make good decisions. Buying stock without the right information can be a recipe for disaster and result in a significant loss of money.
Many people don't know where to start when trying to find the right information on which stocks to buy. This is where phone scammers using the wrong number voicemail scam enter, they take advantage of people's lack of information and willingness to make some quick money on stocks in order to steal.
The Wrong Number Voicemail Phone Scam Setup
Have you ever gotten a voicemail from someone calling the wrong number? This wrong number voicemail scam will start with the caller leaving a message for someone who isn't you, presumably they dialed the wrong number. If you listen to the whole message, you will realize that the purpose of this call is to give advice on some hot stocks. The caller will be filled with enthusiasm and they will say that investing in a particular stock will garner not only guaranteed returns, but also huge profits.
At the end of the voice message the caller will leave a callback number or a website where you can buy the stocks. Following through on this "tip" will lead to financial loss. In order to purchase the stock you will need to give your credit card or bank account information, the scammers will steal this information.
Don't Give Scammers a Chance
Don't return phone calls or listen to voice messages that are from numbers who accidentally dialed your number. It's smart to always be suspicious of free, unsolicited information, especially if it instructs you to go to a website or call back an unknown number in order to purchase stocks.
If you want to start investing in the stock market it's best to do your own research or consult with a reputable financial advisor. You shouldn't rely on the word of an untrusted stranger. Putting in this type of effort will pay off when you are able to get the sound financial advice that you need.
Stopping the Scam
If you are like most people, your main concern when hearing about scams like this is how to stop them. The best thing that you can do to put an end to phone scams is to stay educated, warn others out there about scam callers, and report them to the FTC.
If you have an iPhone you can download CallerSmart's reverse phone lookup app to search mysterious numbers that call you and help warn others about potential scams. If you don't have an iPhone, you can still warn others and lookup unknown phone numbers on our website.