Financial expert warns: How to protect yourself from fraudulent phone calls and unwanted contracts

Financial expert warns: How to protect yourself from fraudulent phone calls and unwanted contracts

According to a report by www.infranken.de, the North Rhine-Westphalia consumer advice center is concerned about the increasing attempts by fraudsters to scam people out of their money over the phone. Older people in particular are a popular target. The consumer advice center warns against answering “yes” to general questions, as fraudsters can later use this “yes” to conclude supposed contracts and make payment demands.

From a legal point of view, it is stipulated that a term contract may only start with approval of a written summary. This means that it is no longer possible to conclude a contract with a simple “yes”. Affected include energy contracts, internet, telephone and mobile phone contracts, contracts for participation in competitions and contracts with lotteries.

In the event of an unwanted conclusion of a contract over the telephone, the claims should be rejected and the Federal Network Agency informed. Under no circumstances should bills be paid. The consumer advice center offers sample letters for support.

It's important to be aware that scammers are constantly developing new tactics to deceive consumers. It is therefore the responsibility of consumers to be vigilant and informed about their rights and protections. In this case, a senior citizen from Lower Franconia shows how to outsmart fraudsters on the phone and was even honored with Bavaria's Merit Medal for it.

These developments could have an impact on the market, with telephone contracts being monitored and regulated more strictly in the future. Consumers could become increasingly aware and better aware of their rights in such situations. This could also increase trust in telephone contracts if fraud attempts are better combated.

It remains important that consumers inform themselves about such fraud methods and know their rights in order to effectively protect themselves against them.