I think that I could write an article every month devoted to current scams that are going around. Everyday there seems to be a new one popping up. There are scams that target the unemployed, scams that target the lonely, scams that target the elderly, scams that target the… you get the point, right? Everyone is a potential victim. You might be contacted via mail, phone call or an e-mail. They might take on different forms, but they all have one thing in common… to swindle you out of your money. Here are some of the most prevalent ways criminals are scamming the public.
Money/wire transfer scams
Scammers use money transfer services (Western Union & Money Gram) because you’re essentially mailing cash quickly across the world. These companies make it simple to send money to almost anyone, anywhere. Scammers prefer these methods of money transfer because they are less secure methods of payment than a bank transfer because there is no paper trail leading back to them. A criminal can collect the money under a false name, show their false ID, and leave with the cash, never to be seen again. Once you transfer your money away, it’s as good as gone. Remember – NEVER USE THESE SERVICES TO SEND MONEY TO A STRANGER.
Check cashing scam
With a check cashing scam, you’re asked to receive a check, deposit it into your bank account, and forward most of the amount overseas while keeping a portion of it yourself as a “payment.” The checks you receive are either fake or stolen and it is only a matter of time before they bounce. Unfortunately, most banks don’t spot the fake checks. They will allow you to deposit it and then grant you access to the funds even though the check hasn’t cleared. This allows you to send the portion of money required overseas. The fake check you deposited will eventually bounce, and unfortunately for you, there is usually no hope for recovering the money that you’ve already wired overseas. This leaves you responsible for repaying the cost of the check and other fees to your bank.
Scammers will go to great lengths and come up with some amazing, emotional stories to get you to send them money. Don’t fall for it!
Unit next month.. Stay Aware & Stay Safe.
