Financial scams have been a danger since finance first emerged as an economic activity. To this day, the prospect of easy money using deception, fraud, or any illicit means attracts criminals who think they can get away with it.
Investment scams have been a common type for ages. People are lured by the promise of easy returns, only to lose everything. Some are local and relatively small; others are enormous and even international in scale, such as the Bernie Madoff case.
Banking scams are also a danger, having been around in some form or another since the first banks came into existence. The good news is, here is how to block any fake website, or any other malicious site on the Internet.
Financial scams are a broad class of crime, but learning about them as they emerge can be invaluable. Keeping your eye on those that emerge can help you recognize the warning signs of a financial scam that’s trying to lure you or others in.
How the scam works: The United Kingdom recently implemented some regulatory changes that allow those aged 55 and above to have direct access to their pensions pot for the first time. However, the good news generated an increase in nuisance calls, text messages, and email, trying to lure the elderly into giving personal information to […]
Top 7 Forex Scams To Avoid Today As Forex markets promise to give you an incredible return on investment, they became trendy in the last few years. However, often Forex traders don't have a great understanding of how Forex markets work and what a Forex broker does exactly, which leaves the latter a lot of room […]
How the scam works: With technology today who walks into offices anymore? For that matter, how many of us take the time to make phone calls? Even when you are searching for the “Contact Us” link on a webpage you have to really dig to find their phone number, but what you will usually find […]
Fake Law Firms: How They Work Did you know that a lawsuit is filed every 2.5 seconds? In fact, for every doctor in medical school, there are three lawyers in law school. Law has been a thriving industry for centuries that shows no sign of slowing down. It is no wonder that when you crack […]
How the scam works: (with video below) Similar to the Wrong Number Voicemail Scam, this fraudulent activity comes your way advising on buying stocks from a certain company. The email claims to come from an acquintance who mistakenly sent the message to the wrong person. Lucky you, it's in your inbox now. After trying to […]
How the scam works: (with video below) Similar to the Wrong Number Voicemail Scam, this fraudulent activity comes your way advising on buying stocks from a certain company. The email claims to be from an acquaintance who mistakenly sent the message to the wrong person. Lucky you, it's in your inbox now. After trying to […]
Bank Account Verficiation Scam: How It Works Unlike the Account Upgrade scam, where fraudsters impersonate bank reps asking you to get your account to a new level, this one lures the email recipients into believing that they need to be verified by the bank to avoid suspicious activity on their account. However, the call […]
How the scam works: The Money Advice Service is a British agency that offers impartial, independent advice on a wide range of financial issues, including budgeting and debt, pensions and investments, savings and credit cards. Recently, a series of phone calls have been made in the United Kingdom by scammers claiming to be MAS representatives. […]
Payment Notification Scam: How It Works If you're like most people, you spend a good part of each day going in and out of your email checking your messages. Good practice says to not open an email from an unknown sender or with an unclear subject line. However, we are all curious by nature. So […]
How the scam works: The Internet has made all of our lives much easier. But every silver lining is attached to a cloud. The Internet has made becoming a scam victim much more realistic. The billing error scam is one such Internet scam. In a very professional looking email, customers of popular telecommunications companies (AT&T […]
How the scam works: Veterans benefits and their pensions are the latest targets of the scammers preying on the elderly. There are a few variations of this scam, read below and watch the video to educate yourself. Veterans are to be respected and commended for their selfless service. In this scam that has been making […]
How the scam works: Phishing scams are one of the oldest games in the scam book. Once a scammer has your personal information, he or she can sell it to the highest bidder on the identity theft black market. This phishing scam involves an email from the Australian Taxation Office, promising a large tax refund […]
Prime Bank Guarantee Scam: How It Works (with explanatory video below) Some scams have been making the rounds for years; the Prime Bank Guarantee scam aka Prime Bank Instrument Scheme has been around for a while now and proves to be too alluring for many people to avoid. While the lure of easy money […]
Bad Credit Car Financing Scam: How It Works Car loans for people with bad credit and fake lenders. Beware of fraudulent practices. The newest scam around is the Bad Credit Car Financing aka the Car Loans Bad Credit scam. It comes in two variations. Let's take a look at an example. You may be looking for […]
How the scam works: Businesses being scammed is as old as business itself. But in this age of many small business owners struggling to stay afloat, being vigilant about avoiding these schemes is more important than ever before. An old scam with a new twist is making the rounds, so business owners beware. The scammers […]
How the scam works: Scammers call households pretending to be IRS (Internal Revenue Service in US) employees conducting telephone surveys. Alternatively, they may use a flyer, an e-mail, a text message or even a tweet to make contact with the victims. All they need first is to gain trust, sometimes using some information they may already […]
How the scam works: Watch out for the American Opportunity Tax Credit scam happening these days, aka the Tax Credit Scam. Let's take a look. Scammers promise refunds to people who have little or no income, claiming non-existent stimulus payments based on the American Opportunity Tax Credit. The crooks claim that they can get victims […]
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