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Inheritance Fraud: 5 Warning Signs You Should Look Out For
Inheritance Fraud: 5 Warning Signs You Should Look Out For
16 Nov 2022

It's common for a loved one to take out a will, a life insurance policy or an investment with the hopes that the people they care about will be taken care of even after they have passed on.

Scammers have also seen this as an opportunity to scam people out of their hard-earned money with claims of inheritance from a dead relative. Before you click the link or make any transactions, these are the warning signs to keep an eye out for.

 

You receive a message of a large inheritance left by a relative

Receiving an email out of the blue with the claims of a relative you have never heard about surfaces. You are told that they have been concerned about finding their relatives. However, this could be a scam. At a glance it may look legit, until you start reading what is requested of you.

 

 Being asked to share your personal details and paying a small fee to get access to the funds may seem like a small price to pay, but this is where scammers are able to do much damage. A quick search online about the said inheritance and insurer could protect you from being scammed.

 

A scammer posing as a lawyer or banker will ask you to pose as the next of kin

Being requested to split an inheritance or to pose as a relation to someone that you do not know about is an increasing online scam that more South Africans are becoming victims of. An insurer or investor will never ask you to split your inheritance with them or to pose as somebody that you are not.

 

Being asked to pay a fee to release funds

It is common for insurers to ask for your personal details such as your banking information or proof of I.D to begin the claim process. However, you will never be requested to pay a fee towards having access to the amount a loved one has left behind for you. Being asked a range of security questions, passwords and paying a fee to access what has been left for you should be a red flag.

 

Being told that you will have to split the inheritance

For all the hard work that they have done to connect to you and inform you of the wonderful inheritance a relative has left you, you will then be told to split the inheritance with them. Being requested to split any part of the inheritance is a classic scammer tactic that could end up with you losing more than you have bargained for.

 

Spelling mistakes and personal accounts

Communication being made with a personal account such as a Gmail account, a personal number or messaging that is riddled with spelling mistakes is a sign that you are being scammed. An insurer or investor is always verifiable and has an online presence that can help you check if they are legitimate. If there is a dead end when you check online, it's possibly a scam.

Need more information on MiWayLife? Read about our life insurance product, or get a life insurance quote in 30 seconds. Alternatively, call us on 0860 64 54 33 .
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Terms and conditions apply. Eligibility, cover and benefits are determined on individual risk profile. MiWayLife is an authorised FSP (No. 45741) and its product offering is underwritten by Sanlam Life Insurance Limited, a registered long-term insurer. MiWayLife is a division of Sanlam Life Insurance Limited - Reg No. 1998/021121/06