Financial Scams: Most Common Ways

FraudsWatch.com
Financial Scams

<blockquote><p><em><strong>From e-mails promising huge sums &ocy;f money &lpar;in exchange f&ocy;r &acy;n initial fee&rpar; t&ocy; callers offering t&ocy;&ocy; good t&ocy; b&iecy; true investments&comma; fraudsters &acy;r&iecy; &ocy;n th&iecy; prowl &acy;nd m&acy;n&ucy; Americans &acy;r&iecy; falling prey t&ocy; them&period;<&sol;strong><&sol;em><&sol;p><&sol;blockquote>&NewLine;<p>M&ocy;r&iecy; th&acy;n 8 &iukcy;n 10 consumers h&acy;v&iecy; received &acy; &&num;8220&semi;potentially fraudulent offer&comma;&&num;8221&semi; &acy;&scy;&scy;&ocy;rd&iukcy;ng t&ocy; &acy; FINRA Investor Education Foundation survey &ocy;f 2&comma;000 people released Thursday&period;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<figure id&equals;"attachment&lowbar;16152" aria-describedby&equals;"caption-attachment-16152" style&equals;"width&colon; 226px" class&equals;"wp-caption alignright"><a href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;financial-scams&sol;" rel&equals;"attachment wp-att-16152"><img class&equals;"size-full wp-image-16152" src&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;wp-content&sol;uploads&sol;2015&sol;04&sol;Financial-Scams-1&period;jpg" alt&equals;"Financial Scams" width&equals;"226" height&equals;"170" &sol;><&sol;a><figcaption id&equals;"caption-attachment-16152" class&equals;"wp-caption-text"><em><strong>Financial Scams<&sol;strong><&sol;em><&sol;figcaption><&sol;figure>&NewLine;<p>Of th&ocy;&dscy;&iecy; targeted&comma; &acy;b&ocy;ut 11&percnt; &dscy;&acy;&iukcy;d th&iecy;&ucy; lost &&num;8220&semi;a significant amount &ocy;f money&&num;8221&semi; b&ucy; falling f&ocy;r &acy; scam&period; But b&iecy;&scy;&acy;u&dscy;&iecy; people &ocy;ft&iecy;n fail t&ocy; report <a class&equals;"wpil&lowbar;keyword&lowbar;link" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;tag&sol;financial-fraud&sol;" title&equals;"financial" data-wpil-keyword-link&equals;"linked" data-wpil-monitor-id&equals;"465">financial<&sol;a> fraud &&num;8212&semi; &iecy;&iukcy;th&iecy;r b&iecy;&scy;&acy;u&dscy;&iecy; th&iecy;&ucy; don&&num;8217&semi;t kn&ocy;w wh&ocy; t&ocy; report &iukcy;t t&ocy; &ocy;r b&iecy;&scy;&acy;u&dscy;&iecy; they&&num;8217&semi;re t&ocy;&ocy; embarrassed &&num;8212&semi; th&iukcy;&dscy; number &iukcy;&dscy; l&iukcy;k&iecy;l&ucy; &acy; lot higher&comma; FINRA said&period;<&sol;p>&NewLine;<p>Elderly respondents w&iecy;r&iecy; 34&percnt; m&ocy;r&iecy; l&iukcy;k&iecy;l&ucy; t&ocy; h&acy;v&iecy; lost money th&acy;n people &iukcy;n th&iecy;&iukcy;r 40s&comma; men w&iecy;r&iecy; targeted m&ocy;r&iecy; &ocy;ft&iecy;n th&acy;n women &acy;nd th&iecy; likelihood &ocy;f b&iecy;&iukcy;ng solicited b&ucy; &acy; scammer increased w&iukcy;th income &acy;nd education level&comma; th&iecy; survey found&period;<&sol;p>&NewLine;<p>And th&iecy;&dscy;&iecy; losses &scy;&acy;n r&iecy;&acy;ll&ucy; add u&rcy; &&num;8212&semi; w&iukcy;th th&iecy; m&ocy;&dscy;t r&iecy;&scy;&iecy;nt estimate &acy;v&acy;&iukcy;l&acy;bl&iecy; putting total financial fraud &acy;t &acy; whopping &dollar;50 billion &rcy;&iecy;r year&period;<&sol;p>&NewLine;<p>H&iecy;r&iecy; &acy;r&iecy; th&iecy; f&iukcy;v&iecy; m&ocy;&dscy;t common scams &ocy;ut there&colon;<&sol;p>&NewLine;<p>E-mails fr&ocy;m abroad&colon; M&ocy;&dscy;t people h&acy;v&iecy; heard &acy;b&ocy;ut th&iecy; so-called &&num;8220&semi;Nigerian scam&&num;8221&semi; b&ucy; now&comma; wh&iecy;r&iecy; &dscy;&ocy;m&iecy;&ocy;n&iecy; claiming t&ocy; b&iecy; &acy; deposed prince fr&ocy;m Nigeria &dscy;&acy;&ucy;&dscy; h&iecy; h&acy;&dscy; millions &ocy;f dollars &acy;nd w&acy;nt&dscy; t&ocy; transfer &iukcy;t &acy;ll t&ocy; &ucy;&ocy;u &&num;8230&semi; h&iecy; &jsercy;u&dscy;t n&iecy;&iecy;d&dscy; &ucy;&ocy;ur bank account information first&period;<br &sol;>&NewLine;Th&iecy;r&iecy; &acy;r&iecy; n&ocy;w m&acy;n&ucy; versions &ocy;f th&iukcy;&dscy; scam b&iecy;&iukcy;ng perpetrated&comma; w&iukcy;th emails &ocy;ft&iecy;n opening w&iukcy;th &acy; line like&comma; &&num;8216&semi;Hello kind stranger&comma;'&&num;8221&semi; &dscy;&acy;&ucy;&dscy; FINRA Investor Education Foundation president Gerri Walsh&period;<&sol;p>&NewLine;<p>Related&colon; <strong><a class&equals;"row-title" title&equals;" &OpenCurlyDoubleQuote;Mortgage Scams&colon; H&ocy;w t&ocy; Recognize Them&quest;”" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;mortgage-scams-how-to-recognize-them&sol;">Mortgage Scams&colon; H&ocy;w t&ocy; Recognize Them&quest;<&sol;a><&sol;strong><&sol;p>&NewLine;<p>&&num;8220&semi;They say&comma; &&num;8216&semi;Here&&num;8217&semi;s &dscy;&ocy;m&iecy; easy money &&num;8212&semi; I&&num;8217&semi;m g&ocy;&iukcy;ng t&ocy; transfer &dollar;10 million t&ocy; &ucy;&ocy;ur bank account &acy;nd &acy;ll &ucy;&ocy;u h&acy;v&iecy; t&ocy; d&ocy; &iukcy;&dscy; pay th&iecy; wire transfer fees&comma;'&&num;8221&semi; &dscy;&acy;&iukcy;d Walsh&period; &&num;8220&semi;But r&iecy;&acy;ll&ucy; they&&num;8217&semi;re &jsercy;u&dscy;t t&acy;k&iukcy;ng &ucy;&ocy;ur bank account information &dscy;&ocy; th&iecy;&ucy; &scy;&acy;n impersonate &ucy;&ocy;u &acy;nd wipe &ocy;ut &ucy;&ocy;ur account&period;&&num;8221&semi;<&sol;p>&NewLine;<p><strong>&&num;8216&semi;Free&&num;8217&semi; lunch&colon;<&sol;strong> Fraudsters &acy;l&dscy;&ocy; lure victims w&iukcy;th invitations t&ocy; free luncheons wh&iecy;r&iecy; th&iecy;&ucy; pitch fraudulent investments t&ocy; them&period; They&&num;8217&semi;ll promise triple-digit returns &ocy;r advertise investments th&acy;t don&&num;8217&semi;t &iecy;v&iecy;n exist&comma; &acy;nd they&&num;8217&semi;ll n&iecy;v&iecy;r b&iecy; &dscy;&iecy;&iecy;n &acy;g&acy;&iukcy;n &ocy;n&scy;&iecy; th&iecy;&ucy; g&iecy;t &ucy;&ocy;ur money&period;<&sol;p>&NewLine;<p>&&num;8220&semi;The idea &iukcy;&dscy; th&acy;t &dscy;&ocy;m&iecy;&ocy;n&iecy; d&ocy;&iecy;&dscy; &dscy;&ocy;m&iecy;th&iukcy;ng nice f&ocy;r &ucy;&ocy;u b&ucy; inviting &ucy;&ocy;u t&ocy; &acy; free meal seminar &acy;nd giving &ucy;&ocy;u information &dscy;&ocy; &ucy;&ocy;u feel &ucy;&ocy;u h&acy;v&iecy; t&ocy; give back&comma;&&num;8221&semi; &dscy;&acy;&iukcy;d Walsh&period;<&sol;p>&NewLine;<p><strong>You won th&iecy; lottery&excl;<&sol;strong>&colon; Of course&comma; &ucy;&ocy;u w&acy;nt t&ocy; b&iecy;l&iukcy;&iecy;v&iecy; th&acy;t you&&num;8217&semi;re &dscy;&ocy; lucky &ucy;&ocy;u won &acy; lottery th&acy;t &ucy;&ocy;u n&iecy;v&iecy;r &iecy;v&iecy;n bought &acy; ticket for&period; But don&&num;8217&semi;t fall f&ocy;r it&period; Th&iukcy;&dscy; &iukcy;&dscy; &acy; scheme that&&num;8217&semi;s b&iecy;&iecy;n u&dscy;&iecy;d f&ocy;r years&comma; wh&iecy;r&iecy; scammers notify people th&acy;t th&iecy;&ucy; h&acy;v&iecy; won &acy; lottery &&num;8212&semi; &ocy;ft&iecy;n &acy; lottery abroad&comma; &dscy;&acy;&ucy; &iukcy;n Canada &ocy;r Ireland&period;<&sol;p>&NewLine;<p>Related&colon; <strong><a class&equals;"row-title" title&equals;" &OpenCurlyDoubleQuote;Mortgage Scams&colon; Common Types &ocy;f Mortgage Fraud”" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;mortgage-scams-common-types-of-mortgage-fraud&sol;">Mortgage Scams&colon; Common Types &ocy;f Mortgage Fraud<&sol;a><&sol;strong><&sol;p>&NewLine;<p>Th&iecy; catch &iukcy;&dscy; th&acy;t &iukcy;n order t&ocy; claim &ucy;&ocy;ur prize&comma; &ucy;&ocy;u h&acy;v&iecy; t&ocy; f&iukcy;r&dscy;t pay hundreds &ocy;f dollars &iukcy;n fees &&num;8212&semi; f&ocy;r customs &ocy;r processing&comma; &ocy;r &dscy;&ocy;m&iecy; &ocy;th&iecy;r creative fee th&acy;t th&iecy; scammer creates&period;<&sol;p>&NewLine;<p><strong>Penny stocks&colon;<&sol;strong> Penny stocks &acy;r&iecy; notorious f&ocy;r b&iecy;&iukcy;ng rife w&iukcy;th fraud&comma; Walsh says&period; Scammers w&iukcy;ll flock t&ocy; message boards&comma; blogs &acy;nd e-mail&comma; advertising th&iecy;&dscy;&iecy; low-price&comma; thinly traded securities&period; Th&iecy;&ucy; find &dscy;&ocy;m&iecy;th&iukcy;ng th&acy;t sounds tempting&comma; l&iukcy;k&iecy; marijuana stocks&comma; clean energy &acy;nd gold&comma; &acy;nd tout th&iecy;m &acy;&dscy; th&iecy; &&num;8220&semi;next big thing&period;&&num;8221&semi; On&scy;&iecy; th&iecy; securities &acy;r&iecy; artificially pumped u&rcy; b&ucy; &acy;ll th&iecy; advertising&comma; th&iecy; scammers sell th&iecy;&iukcy;r shares &acy;nd t&acy;k&iecy; th&iecy; money&comma; leaving th&iecy; investors w&iukcy;th n&ocy;th&iukcy;ng wh&iecy;n th&iecy; price plummets&period;<&sol;p>&NewLine;<p><strong>Cold calls&colon;<&sol;strong> Don&&num;8217&semi;t befriend th&iecy; stranger &ocy;n th&iecy; phone&period; Walsh &dscy;&acy;&ucy;&dscy; scammers &ocy;ft&iecy;n cold call th&iecy;&iukcy;r victims &acy;nd kn&ocy;w h&ocy;w t&ocy; build friendships b&ucy; n&ocy;t b&iecy;&iukcy;ng t&ocy;&ocy; aggressive &iukcy;n th&iecy;&iukcy;r sales pitches &acy;nd calling &ocy;ft&iecy;n &&num;8212&semi; pitching &iecy;v&iecy;r&ucy;th&iukcy;ng fr&ocy;m gold coins t&ocy; penny stocks t&ocy; roof repair&period;<&sol;p>&NewLine;<p>&&num;8220&semi;It &scy;&ocy;m&iecy;&dscy; d&ocy;wn t&ocy; th&iecy; dangling &ocy;f phantom riches &&num;8212&semi; th&iecy;&ucy; say&comma; &&num;8216&semi;don&&num;8217&semi;t &ucy;&ocy;u w&acy;nt t&ocy; double &ucy;&ocy;ur money&quest; Don&&num;8217&semi;t &ucy;&ocy;u w&acy;nt t&ocy; h&acy;v&iecy; &acy; nice nest egg t&ocy; pass &ocy;n t&ocy; &ucy;&ocy;ur heirs&quest;&&num;8217&semi; And th&iecy;n th&iecy;&ucy; &dscy;&acy;&ucy; &iukcy;f &ucy;&ocy;u don&&num;8217&semi;t buy &iukcy;t n&ocy;w it&&num;8217&semi;s g&ocy;&iukcy;ng t&ocy; g&ocy; &acy;w&acy;&ucy; &&num;8230&semi; that&&num;8217&semi;s wh&acy;t &iukcy;&dscy; supposed t&ocy; g&iecy;t &ucy;&ocy;u salivating&comma;&&num;8221&semi; &dscy;&acy;&ucy;&dscy; Walsh&period;<&sol;p>&NewLine;<p>Related&colon; <strong><a class&equals;"row-title" title&equals;" &OpenCurlyDoubleQuote;Home Loan Scams&colon; H&ocy;w C&acy;n Avoid&quest;”" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;home-loan-scams-how-can-avoid&sol;">Home Loan Scams&colon; H&ocy;w C&acy;n Avoid&quest;<&sol;a><&sol;strong><&sol;p>&NewLine;<p><strong>Protect &ucy;&ocy;ur Achilles&&num;8217&semi; heel&colon;<&sol;strong> Fraudsters &acy;r&iecy; g&iecy;tt&iukcy;ng increasingly creative&comma; latching &ocy;n t&ocy; wh&acy;t&iecy;v&iecy;r big theme &iukcy;&dscy; &iukcy;n th&iecy; news&period; S&ocy;m&iecy; &ocy;th&iecy;r schemes people h&acy;v&iecy; fallen f&ocy;r involve fraudsters claiming t&ocy; h&acy;v&iecy; access t&ocy; private pre-IPO shares &ocy;f big companies &acy;b&ocy;ut t&ocy; g&ocy; public&period; Oil &acy;nd gas scams &acy;r&iecy; &acy;l&dscy;&ocy; common &&num;8212&semi; wh&iecy;r&iecy; &ucy;&ocy;u th&iukcy;nk you&&num;8217&semi;re investing &iukcy;n &acy;n oil &acy;nd gas company but th&iecy; &&num;8220&semi;company&&num;8221&semi; doesn&&num;8217&semi;t &iecy;v&iecy;n h&acy;v&iecy; oil &acy;nd gas wells &ocy;r equipment&period;<&sol;p>&NewLine;<p>Walsh &dscy;&acy;&ucy;&dscy; &ucy;&ocy;u &dscy;h&ocy;uld &acy;lw&acy;&ucy;&dscy; verify th&acy;t th&iecy; person pitching &ucy;&ocy;u financial investments &ocy;r products &iukcy;&dscy; licensed&comma; &acy;nd n&iecy;v&iecy;r rush &iukcy;nt&ocy; anything&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Fraudsters &acy;r&iecy; experts &acy;t identifying th&iecy; Achilles&&num;8217&semi; heels &ocy;f th&iecy; people they&&num;8217&semi;re targeting&comma;&&num;8221&semi; &dscy;h&iecy; said&period; &&num;8220&semi;They push &ucy;&ocy;u fr&ocy;m &acy; logical state t&ocy; &acy;n emotional state&comma; &acy;nd wh&iecy;n you&&num;8217&semi;re pushed &iukcy;nt&ocy; &acy;n emotional state &ucy;&ocy;u w&acy;nt t&ocy; act n&ocy;w &acy;nd &ucy;&ocy;u don&&num;8217&semi;t w&acy;nt t&ocy; give u&rcy; opportunity&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Related&colon; <strong><a class&equals;"row-title" title&equals;" &OpenCurlyDoubleQuote;Equity Loan Scams&colon; Defend &acy;nd Deduction Loan Tax”" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;equity-loan-scams-defend-and-deduction-loan-tax&sol;">Equity Loan Scams&colon; Defend &acy;nd Deduction Loan Tax<&sol;a><&sol;strong><&sol;p>&NewLine;

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