Fraud

Email job scams are fraudulent job offers sent to unsuspecting job seekers via email. These scams have become increasingly common in recent years, as scammers seek to take advantage of people who are struggling to find employment. In this article, we will discuss what email job scams are, how to recognize them, and what to do if you have fallen victim to one. What are email job scams? Email job scams are fraudulent job offers that are sent via email. They typically promise a high-paying job with minimal work or qualifications required. The goal of these scams is to get ... Read more

Direct deposit scams are a type of fraud where scammers attempt to steal funds from individuals or businesses by gaining access to their direct deposit information. This information can include bank account numbers, routing numbers, and other personal information that can be used to transfer money out of the victim’s account and into the scammer’s account. Most Direct Deposit Scams Types Direct deposit scams can take many forms, including phishing scams, malware attacks, and social engineering tactics. In this article, we’ll take a closer look at each of these types of scams and provide some tips on how to protect ... Read more

Data entry scams are a type of fraud where scammers promise individuals the opportunity to work from home and earn money by entering data into a computer system. However, in reality, these scams are designed to take advantage of people who are looking for legitimate work-from-home opportunities. In this article, we will discuss the various types of data entry scams, how to identify them, and what you can do to protect yourself from becoming a victim. Types of Data Entry Scams: Upfront Payment Scams: This type of scam requires the victim to pay a fee upfront in order to gain ... Read more

Craigslist is an online platform that provides a wide range of services, including classified ads, job postings, and discussion forums. With millions of users worldwide, Craigslist is a popular destination for both employers and job seekers. However, like any online platform, Craigslist is also a target for scammers who use the site to trick people into providing personal information or money. One common scam on Craigslist is the “Craigslist Writer/Research Assistant” scam. In this scam, the scammer will post a job listing for a writer or research assistant, often with a high pay rate and flexible hours. The listing may ... Read more

Craigslist is a popular online marketplace where people can buy and sell goods and services. However, like many online platforms, it is also a target for scammers who try to exploit unsuspecting users. Here are some common Craigslist scams and how to avoid them: Overpayment Scam: An overpayment scam is a type of fraud where a scammer sends a check or money order for more than the agreed-upon amount for a product or service. The scammer then asks the recipient to deposit the check and send back the overpaid amount. However, the original check or money order is usually fraudulent ... Read more

Cashier’s check scams are a type of fraud that has been around for decades. They typically involve scammers using fake cashier’s checks to trick individuals or businesses into sending them money or goods. The scam works by convincing the victim that the check is legitimate and that they can safely deposit it into their bank account. However, once the victim deposits the check, the scammer will quickly withdraw the funds, leaving the victim with a negative balance in their account. In this article, we will explore how cashier’s check scams work, how to identify them, and what to do if ... Read more

Bank email scams, also known as phishing scams, are fraudulent emails that appear to come from a legitimate bank or financial institution. The email is designed to trick the recipient into revealing personal and confidential information, such as their bank account number, login details, and password. These types of scams are typically sent to a large number of people in the hopes of catching a few who will fall for the trap. The email may look like it is from a real bank, with logos and design elements that make it appear authentic. The email may ask the recipient to ... Read more

ATM scams are a type of fraud that involves stealing a person’s ATM card details or personal identification number (PIN) while using an Automated Teller Machine (ATM). The criminals use various tactics to obtain the information, including skimming, card trapping, cash trapping, and phishing. These scams can result in the loss of money from a person’s bank account or identity theft. Avoid ATM Scams Here are some tips on how to avoid falling victim to ATM scams: Be aware of your surroundings When using an ATM, make sure to be aware of your surroundings. Look out for any suspicious activity ... Read more

Accounting fraud is the deliberate manipulation, misrepresentation, or alteration of financial records to deceive investors, creditors, regulators, or other stakeholders. Accounting fraud can take many forms, including: Overstating revenue or understating expenses to make a company’s financial results look better than they actually are. Falsifying or inflating asset values to make a company appear more valuable or financially stable than it really is. Understating liabilities or hiding debt to make a company appear less risky or more financially healthy than it really is. Using complex accounting techniques or off-balance sheet transactions to obscure the true financial condition of a company. ... Read more

Money laundering refers to the illegal process of disguising the proceeds of illicit activities, such as drug trafficking, corruption, or fraud, as legitimate funds to conceal their origins and avoid detection or prosecution. The term “money laundering” is derived from the practice of “cleaning” or “washing” dirty money, so that it can be used without raising suspicion. Money laundering typically involves three stages: placement, layering, and integration. In the placement stage, the proceeds of illegal activities are introduced into the financial system, usually through cash deposits, wire transfers, or other means. In the layering stage, the funds are moved through ... Read more

Embezzlement refers to the act of dishonestly withholding or misappropriating assets or funds that have been entrusted to one’s care, often for personal gain. It is a form of financial fraud that can occur in various contexts, such as in the workplace, in government, or in nonprofit organizations. Embezzlement can take many forms, from simple theft of money to more complex schemes involving falsified records or manipulation of accounting systems. Some common examples of embezzlement include stealing money from a cash register, diverting funds from an organization’s accounts, or forging checks. Embezzlement is a serious crime that can result in ... Read more

Insider trading fraud refers to the intentional use of inside information to gain an unfair advantage in trading securities. This can involve the illegal buying or selling of securities based on material non-public information, as well as the disclosure of this information to others who then use it to trade securities. Insider trading fraud can take many forms, including: Misappropriation of confidential information: This involves an individual using confidential information obtained through their employment or other relationship with a company to make trades on securities. Tipping: This involves an individual providing confidential information to another person, who then uses the ... Read more

Ponzi schemes are fraudulent investment scams that promise high returns with little or no risk to investors. They are named after Charles Ponzi, who became notorious for using this type of fraud in the early 20th century. In a Ponzi scheme, the fraudster recruits new investors and uses their money to pay off earlier investors, creating the illusion of profitable returns. The fraudster may use various tactics to convince investors to participate, such as promises of guaranteed returns, high-pressure sales tactics, or even personal relationships. Ponzi schemes eventually collapse when the fraudster can no longer find enough new investors to ... Read more

Financial fraud is the deliberate misrepresentation or manipulation of financial information or transactions for personal gain. This can take many forms, including embezzlement, money laundering, insider trading, Ponzi schemes, and accounting fraud. Financial fraud can be committed by individuals or companies, and the victims can range from individuals to entire nations. Some common examples of financial fraud include: Ponzi schemes: A fraudulent investment scheme where returns are paid to earlier investors using the capital from newer investors. Insider trading: The illegal practice of trading securities based on material, non-public information. Embezzlement: The theft of funds or property by someone entrusted ... Read more

Fraud-induced social isolation is a serious social problem that has gained prominence in the 21st century. Fraudsters use various communication platforms to target their victims, who are mostly unaware of the tricks being played on them. The increasing number of social media users makes it easy for frauds to spread their schemes and gain access to personal information. Fraud is everywhere and you need to be aware of the dangers so you can avoid becoming a victim. A scammer will contact you on social media and try to convince you that he or her is a victim too. He or ... Read more

Cyber and malware attacks are very common today in the finance industry. Detecting them is complicated and hard. Regular implementation of protective measures against new attacks is necessary.  Traditional protective measures such as CVV2 and one-time passwords are not effective at combating the new cyber crime techniques.Criminals today use attacks including trojans that bypass traditional security measures. Remember that criminals are always developing new tricks to stay ahead of their game.  Financial Fraud Prevention  Security is a very important consideration for companies and individuals when choosing a banking institution. Financial institutions must make security a priority and adequate fraud prevention ... Read more

PHILADELPHIA – United States Attorney Jennifer Arbittier Williams and Assistant Attorney General Kenneth A. Polite Jr. of the Justice Department’s Criminal Division announced that Barrie Osborne, 76, of Celebration, Florida, was charged by Indictment with with conspiracy to commit wire and bank fraud, wire fraud, bank fraud, and conspiracy to commit money laundering in connection with a scheme to fraudulently obtain more than $7 million in Paycheck Protection Program (PPP) loans, Economic Injury Disaster Loans (EIDL) and pre-pandemic Small Business Administration (SBA) loans, and to launder the proceeds of the illegal scheme. The Indictment alleges that, beginning in about January ... Read more

Rep. James Clyburn, D-S.C., chairman of the choose commission on the Coronavirus Crisis, seeks info regarding preventing fraud in pandemic assistance. A general assembly subcommittee aimed toward work financial fraud throughout the pandemic broadened its probe into on-line disposal in the week to incorporate 2 of the foremost distinguished processors of coronavirus assistance. Rep. James Clyburn, D-S.C., chairman of the choose commission on the Coronavirus Crisis, sent letters to Blueacorn and Womply on Tues requesting information about fraud prevention. Both emerged as major players that fused tech and financing to speed up lending through the government’s Paycheck Protection Program. Womply ... Read more

Source After the shock of a car wreck, it can be hard to know exactly what happened. Naturally, gathering evidence isn’t at the top of your priorities — you just want to make sure everyone is safe. But just a couple days after a car accident, you’ll get a call from an insurance claims adjuster. You need to be very careful what you say — you’d be surprised what the insurance company can hold against you. Knowing what to expect when the other party’s insurance adjuster calls is the best way to prepare. Don’t forget that you have every right ... Read more