Speed kills.

We learn this before we even put a key into the ignition for the very first time. Speed limit signs show up everywhere on streets and highways. They encourage us to slow down, consider our surroundings and proceed with caution.

Speed also kills on the information superhighway. It is the single most obvious indicator of maleficence.

If you are contacted by someone either via email, text, messenger or phone call and told you must do something quickly to avoid a disaster, resist the urge to comply.

With even just a little time, you can calm down, assess the situation, contact the authorities to confirm a problem even exists and then proceed.

A common scam involves a government entity, the IRS for example, contacting a victim, demanding money for a phantom infraction and telling them it must be paid promptly through a gift card or wire transfer. These bad actors threaten their victims with arrest, deportation or suspension of a business or driver’s license. In many cases, the caller becomes hostile and insulting.

They ask for immediate responses to their questions, which are designed to elicit important account and personal information.

The caller, texter or messenger becomes increasingly demanding and insists that you provide the information they request immediately or else.

If you remember the two words you learned in your first driver’s ed class – speed kills – you will know it’s time to hit the brakes on this conversation.

Hang up. Log out. Do not reply. Block and report the person who contacted you.

You are allowed to give yourself a little time to think.

Then, contact your bank, your tax preparer, the IRS or whatever entity that was cited in the conversation you just had. Contact them directly and ask about your account status.

Report the alarming conversation you just had to the police.

Sometimes, your best defense against a sophisticated scammer is just a deep breath and a little time to clear your head.

Do not be rushed into making a mistake that could cost you a lot of time and money to unravel down the road.

Slow down. You and your family members are going to be just fine.

IMPORTANT DISCLOSURE INFORMATION

Please remember that past performance is no guarantee of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Winch Advisory Services, LLC [“Winch”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.  Moreover, no portion of this discussion or information serves as the receipt of, or a substitute for, personalized investment advice from Winch. contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Winch. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Neither Winch’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if Winch is engaged, or continues to be engaged, to provide investment advisory services. Winch is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Winch’s current written disclosure Brochure and Form CRS discussing our advisory services and fees is available for review upon request or at www.winchfinancial.com. Please Note: Winch does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Winch’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. Please Remember: If you are a Winch client, please contact Winch, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services.  Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently. Please Also Remember to advise us if you have not been receiving account statements (at least quarterly) from the account custodian.