Tom Meaglia photo

Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

July/August 2021

Spotting a Scam

E-mail Popup Warning Window

In 2019, there were 27,000 reported fake-check scams, resulting in losses of more than $28 million. Recognizing the telltale signs of a scam may prevent you from becoming a victim.


Common “Scamagories”
In most fake-check scams, the victim is told to deposit a check and then given a plausible reason why some of the money has to be returned to the sender. Common scams to watch out for include:


Mystery Shopper.
After “hiring” people as mystery shoppers, scammers send a check with instructions to deposit it in a personal bank account. Shoppers are told to wire some of the money through a money transfer service. Unfortunately, the consumer usually discovers that the check is counterfeit only after wiring the money.

Car-Wrap Deals.
Victims who agree to use their vehicles for advertising are asked to wire money from a checking account to decal installers, who never materialize to do the wrap.


Claiming Prizes.
Sweepstakes “winners” are given checks and told to send money to cover taxes, shipping, handling and processing fees.


Overpayments.
Scammers who buy items that someone is selling online “accidentally” send a check for more than the cost and ask for a refund of the difference.


Avoid Fake-check Scams
Never send money to someone you don’t know. If you are a victim of a fake-check scam, report the scam at ftc.gov/fakechecks or ftc.gov/giftcards.


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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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