Schemes and Scams

There are many schemes and scams being conducted both by mail and e-mail. Beware of these scams. Use the helpful list of links below that can connect you with authoritative and informative sites where you can learn about how to protect yourself or report a scam.

List of web sites where you can report schemes and scams:

Better Business Bureau
http://www.bbb.org/ALERTS/Scam.asp 

FBI
http://www.fbi.gov/cyberinvest/escams.htm 

Federal Citizen Information Center
http://www.pueblo.gsa.gov/scamsdesc.htm 

Federal Trade Commission
http://www.ftc.gov/bcp/menus/consumer/tech/privacy.shtm 
http://www.ftc.gov/bcp/edu/microsites/idtheft/ 

Internal revenue Service
http://www.irs.gov/newsroom/article/0,,id=98269,00.html 

Internet Crime Complaint Center
http://www.ic3.gov/ 

Merchant Risk Council
https://www.merchantriskcouncil.org/press.php 

National White Collar Crime Center
http://www.nw3c.org/ 

Security & exchange Commission
http://www.sec.gov/investor/pubs/cyberfraud.htm

U.S. Securities and Exchange Commission
http://www.sec.gov/investor/pubs/cyberfraud.htm 

U.S. Secret Service
http://www.secretservice.gov/criminal.shtml 

U.S. Postal Inspection Service
http://postalinspectors.uspis.gov/ 

U.S. Department of Education
http://www.ed.gov/about/offices/list/oig/misused/sscams.html 

Additional web sites offering news and descriptions about various scams:
www.scambusters.org 
http://www.hotscams.com 
http://www.aarp.org/money/wise_consumer/scams/ 
http://onguardonline.gov/spam.html 
http://www.crimes_of_persuasion.com/contents.htm 
http://www.fraud.org/tips/internet/fakecheck.htm 
http://www.us_cert.gov/reading_room/emailscams_0905.pdf 
http://www.antiphishing.org/consumer_recs.html 
http://www.bizymoms.com/scams.html 
http://www.snopes.com/fraud/telephone/809.asp 
http://www.elsop.com/wrc/complain.htm 
www.nacacnet.org/MemberPortal/ForStudents/ScholarshipScams/ 
http://www.modelingscams.org/ 
http://www.treasurydirect.gov/instit/statreg/fraud/fraud.htm 
http://security.yahoo.com/article.html?aid=2006111501 
http://www.overseasdigest.com/scams.htm 
http://ca.com/securityadvisor/virusinfo/virus.aspx?id=38328 
http://home.rica.net/alphae/419coal/ 
http://www.hoax_slayer.com/email_lottery_scams.html 
http://www.consumerfraudreporting.org/index.php 

Information Related to Grant Funding Scams

Consumer Affairs:
http://www.consumeraffairs.com/scam_alerts/grant.html 

Government grant scams:
http://www.fraudguides.com/federal_grant_scam.asp 

Federal Trade Commission:
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt134.shtm 

Better Business Bureau:
http://www.bbb.org/us/article/9363 

Snopes:
http://www.snopes.com/fraud/advancefee/grants.asp

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International Investment Scam:

Be extra careful when considering any investment opportunity that comes from another country, because it's difficult for U.S. law enforcement agencies to investigate and prosecute foreign frauds.

Investment Schemes:

Investments promising high rates of return with little or no risk. The investment may claim the use of off shore accounts. Promoters may tout their financial expertise, financial connections, insider information, provide phony statistics, etc. The investment may come with guarantees, and buy back clauses. They provide little detail about the actual investment, but stress the high rates of return. These investments schemes are often part of a pyramid scheme.

Nigerian Scam:

The Nigerian Scam has been around for more than 20 years. It is an advance fee scam where a person is contacted and told a story about someone dying, a huge inheritance, over invoiced, double invoiced, etc. and there is a large sum of money they need assistance in moving into/out of the country. Victims are asked to pay the fees for transferring the funds and they will be rewarded by sharing in the funds - once transferred. The scam may also be presented as a business proposal.

The victim may be contacted by mail, or e-mail. The letter may appear to be from an attorney/barrister/solicitor. The proposal may say the money is in Thailand, England, S. Africa, Isle of Man, Nigeria, or other country. E-mails might provide URL for an official looking web site. Don’t be fooled!

The most common forms of these fraudulent business proposals fall into the following main categories:

Disbursement of money from wills
Contract fraud (C.O.D. of goods or services)
Purchase of real estate
Conversion of hard currency
Transfer of funds from over invoiced contracts
Sale of crude oil at below market prices

It is all nonsense. It is all a scam.

Financial Consultants new to the finance arena need to be aware of these types of scams.

Do not answer these e-mails. Do not provide them any personal information. Delete the e-mails immediately.

Overpayment Scams:

When selling products on-line watch out for a buyer that over pays then asks for a refund of the difference. Their check bounces, but they already have your money.

When renting properties a renter may provide a deposit, but then have a change of mind and asks for a refund. Again - their check bounces, but they already have your money.

This same scam is can also be used in the purchase of vehicles or other more expensive items.

Subpoena Notifications Scams:

With the threat of contempt of court the notification orders the e-mail recipient to click on a link for further information, forms, etc. Don’t do it. Malicious code will be downloaded to your computer, possibly destroying the contents of your computer. Phone the court to verify the subpoena.

Phishing Scams:

If you receive an e-mail requesting personal information, stating your credit card is invalid, your credit card has been refused for a recent purchase, or your Internet service will be blocked, etc. Contact the company you bought the product from - if you bought anything. Don’t provide your information in an e-mail.

Reduce the chance of Identity Theft:
1. Stop pre-approved credit card offers.
2. Add your phone and cell #’s to the Do Not Call list.
3. Shred your gas station receipts, store receipts, and ATM slips. Invest in a shredder if you need to - it is cheaper than the consequences of the theft of your ID.
4. Don’t leave mail in your un-locked mail box, overnight. Buy a locking mailbox.
5. Never provide your personal information over the phone.

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