Money Scams
Although most scams are centered around the idea of quick money, these are the fraud scams that carry the theme of money within the scam itself.
The reason why con artists do so well in money scams is because of the "greed factor" they are able to bring out of their victims. Everyone wants fast money and everyone wants to be included in a great deal.
Who could resist a sure thing or a once in a lifetime offer from an honest looking, sweet talking individual? The temptation is out there and that is what these financial hustlers look for in their victims.
The people who commit financial related scams are usually smart and educated. They will come across as being middle to upper class and are able to socialize and make friends with all walks of life.
Don't be fooled by the confidence and assurance of a persons persuasion. If the deal sounds a little to sweet, it probably is.
Browse the list of money scams so that you can learn how to recognize the money schemes and prevent them from happening to you.
Pyramid Scams :
In a nut shell, a person (Mr. A) recruits a number of people (lets say 5 people) to each hand over a sum of money (lets say $500). Mr. A than receives a one time payment of $2500. In order for the other people to receive the same, they must each recruit 5 other people willing to pay the $500 buy-in. Usually, the pitch for the scam sounds so good people willingly hand over their savings, only to find out later that they are unable to convince other people and don't get their money back.
Cash Scams :
Ranging from counterfeit bills to being short changed at the check out counter, cash scams are something to worry about each and everyday. Prevention comes from making sure you pay attention when handling money (look out for fake looking and feeling bills). As well, make sure you keep count when paying and receiving change from cashiers.
Ponzi Scams :
A Ponzi scheme is a dishonest investing operation that yields returns to separate investors from their own funds or money paid by future investors, rather than from any genuine money made. The Ponzi scam normally tempts new investors by offering dividends former investments can't guarantee, in the class of short-term dividends that are either abnormally high or remarkably consistent. The perpetuation of the dividends that a Ponzi scam promotes and pays calls for an ever-increasing stream of funds from investors to sustain the scheme. Pick your investments wisely and make sure you do your research before investing your money.
Gold Scams :
Gold scams occur in several shapes, from purchasing bogus gold mines to buying pretend gold bullion. Con artists frequently require the victim to turn up at some depository financial institution with a bag full of cash to be exchanged for gold. The exchange is always "in advance" of the release of the non-existent gold. It is best to deal with banks rather than fly by night brokers when dealing with gold.
Lottery Scams :
Everyone loves a lottery, even more, we all love the chance to win big money. This is why so many people fall victim to fake lotteries. Lottery scams may be presented by shady business owners with phony peel tickets to internet emails with news that you have won a jackpot. If you must play the lottery, only play games operated by your state or province.
Credit Card Scams :
You receive a phone call with an offer for a new credit card with a low interest rate. All you have to do is provide your personal information and it will come in the mail. The only thing is the people making the offer were con artists and are going to use your personal information for criminal activities. Never give out personal information over the phone.
Banking Scams :
You receive an offer to accept funds into your account on behalf of an over seas individual. In exchange, you will be paid a handsome service fee. What they don't tell you is that they are laundering money and if the authorities catch on, you will be arrested while the real criminal walks away clean.
Check Scams :
Payment is received by check and all seems well. Only a week later you receive a notice from the bank advising the funds are being reversed. You try to contact the buyer however, they are nowhere to be found. You have just become the victim of a check scam.
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