Financial Scams
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.
Financial Scams: List Below
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.
Outstanding Debt
How the scam works: The Outstanding Debt/Invoice Scam comes as an e-mail and requires you to pay a debt or balance payment that you owe a specific business provider. An invoice is attached. The scammers use well-known names of businesses that people purchase product from (such as Amazon, eBay, Craigslist, etc). They threaten you with legal […]
Payment Protection Plan
How the scam works: Scammers call around claiming to have a reimbursement check from the Payment Protection Plan (PPP is a service fee, insuring yourself against the possibility that you can no longer pay your credit card bill due to unemployment, disability or death). “I’ve got hundreds of cases here and yours is one of […]
Your Last Receipt Scam
The Last Receipt Scam is easier to pull and harder to avoid, especially during the COVID-19 pandemic. Let's dive in and show you how it works
Scholarship Applications
Scholarship Applications For College Students And High School Seniors: Beware of Scams It is the time of the year where students go back to school or start a new chapter in their life, education-wise. Maybe you are one of them or maybe you have a child that is. Unfortunately, as the tuition fees have increased […]
Scholarship Winning
How the scam works: You receive an e-mail saying you have won a $3,000 scholarship (or any other sum). After all the congratulatory phrases and official-looking logos, the “organization” will require you to pay a tax by clicking on a link provided which opens a page set-up for payment, providing the scammer with all your financial […]
Thank You Message
How the scam works: This scam is targeted at naive people who might think they hit the jackpot. Hopefully you are not one of them. An email or letter comes to the victims from somebody living in London or Amsterdam. There is a “thank you” note from this somebody who used to live in a […]
Failed Bank Compensation
How the scam works: In the United States whenever a bank collapses, the clients are able to withdraw their money for up to 30 days after the official announcement. If they leave their money in after the bank has failed, the Federal Deposit Insurance Corporation (FDIC) takes care of compensation afterwards and clients can get […]
FBI e mail
FBI Notification Email Scam: How It Works (with video below) There are still people who fall victim to the FBI e-mail/notification aka James B. Comey scam, which has a few variations. Lately, criminals also used the name of the new FBI Director, Christopher A. Wray. Let's take a look. Scenario 1. Scammers pose themselves […]
Bank Survey Rewards
How the scam works: You receive an email from what appears to be your bank saying the following: “As a valued customer, we would like you to take part in a short survey. Upon completion, you will be awarded $25 in your account.” You click on a link and fill out the ten question survey. […]
Broker Training
How the scam works: You're approached by a company that offers training to people interested in becoming mortgage brokers. They promise a great package which also contains “high quality leads” and “fast payouts”. The selling point is that you can have a whole new career for a measly $4,000–not nearly the price of a full […]
Buying Shares
How the scam works: Scammers send millions of e-mails at once, offering a very hot tip in the stock market. They give the name of a small company, whose shares are worth a few cents per piece, and they guarantee that the prices will sky-rocket in the next few days. What they do is buy […]
Check in the Mail
Fake Check Scams: How They Work (with video below) The Fake Check Scam occurs this way: the scammer asks for your business services – whatever they might be – and sends you a check with an amount that's much bigger than the one you asked. Then, the criminals acknowledge his mistake but give you the […]
Click on Your Ads
How the scam works: If you have a business, you have probably considered at some point using programs like Google Adsense or Adwords, where you post your company’s ads for advertising and only pay for it when somebody clicks on your link. The scam happens in two different ways: 1. Your competitor uses an online […]
Conference Invitation
Event Invitation Scam: How It Works This tricky scam comes as a very tempting invitation for regular people with great hobbies, businessmen, lecturers, activists, philanthropists or even CEOs to attend various events, organized in a different city. Such events could be seminars during major events like Mental Health Awareness Week, Women Deliver or Human Trafficking & Social […]
Order Credit Report For Free
Was there a time when you were wondering how to find out your credit score? Well, beware of the Order Credit Report For Free Scam!
Debt Rescue Company
How the scam works: (with video below) You are tens of thousands of dollars in debt and you see no easy way out. But as you're surfing online, you see light at the end of the tunnel. An advertisement claims it can get you out of the red for much less than your actual debt. […]
