Recent years have seen a troubling increase in all types of fraud. Some of the most common types are bitcoin and forex scams, but there are many other varieties that target people online and offline. The following are some examples of frauds that rob consumers. Fraudulent parties are becoming more skilled at mimicking real services and it is harder to avoid scams. Still, there are some red flags and warning signs that will keep you safe.
Cryptocointrace experts can provide you with assistance if you have been affected by a scam. Our team of researchers knows what to look for when investigating a variety of frauds. We can provide you with information and guidance through our intelligence reports that will help you get results. Contact our Cryptocointrace professionals today for a consultation.
Many people find love online, only to discover they have lost a bundle. Tricking people with fake identities is called catfishing and it not only breaks people’s hearts, but it can also break the bank.
It starts with people meeting others online for romance or friendship. Those with fake identities usually have photos of models or extremely fit young people wearing skimpy or fancy clothing. In the pictures, they are usually posing with a luxury item to indicate prosperity, although some scam photos may be of ordinary-looking people as well.
Not long after they make contact with someone, they will tell some story about having money but not having access to it and they need some funds fast or a brief loan. They may claim that they need an urgent medical procedure or a similar scenario.
They will ask for money after charming the person. However, when a video call is suggested or when they will visit, they will always make some excuse. Then, when they have received the funds from the victim, they will disappear.
There are some simple tips for avoiding romance scams:
If you meet someone on a dating platform be very careful before you agree to take the conversation outside the platform onto WhatsApp, email or messenger
Be suspicious of very idealized photos, particularly if then they talk about financial constraints
Beware of people who talk about money problems very soon after meeting you
If they never want a video call or put off a meeting in person, tread carefully.
Lottery or Prize Scams
Lottery and prize scams are extremely common. Most of us want to believe we have won something. However, if we have been notified of winning a prize for something we did not even enter, that is usually a red flag. These scams work by telling people they have won a cash prize or a valuable award and they need to provide some personal information to verify their identity.
The information the scammers ask for depends on how far they are willing to go. Some may just be trying to get your email so they can send spam. Others go so far as to ask for bank or credit card information and a social security number. Their purpose may be full-scale identity theft, especially if they ask for a photo ID. They can use all of this information so they can pretend to be you and get access to your bank account, benefits and open a credit card in your name.
Here are some ways to protect yourself against prize scams:
Legitimate sweepstakes and lotteries do not award prizes or cash to people who did not enter
Be careful about giving your personal information to anyone. Usually, the only time you will need to give your social security number is when you open a bank account or to the government.
Look for confirmation that you have won or check out the company or organization
Benefits and Stimulus Scams
Stimulus check scams proliferated during the COVID-19 pandemic and are just a different form of a common type of scam. There are fraudulent parties that try to intercept all kinds of benefits, such as Social Security, Unemployment Benefits, Government Stimulus checks and more.
The wording of the message and approach may vary but their common goal is to harvest personal information from the victim and to claim their benefits. In some cases, people do not find out that someone else has stolen their stimulus or benefits until they do not receive it and enquire or the IRS sends them a warning that they need to pay taxes on the money they never received.
The target of the scam will get an email or a message supposedly from the government asking them to verify their personal information before they can claim their benefits. In some cases, they may even call or send a letter through the post. They will ask for personal information, including social security number and perhaps a copy of a photo ID.
When the scammer receives these items, they will claim the benefits on behalf of the victim. To avoid having this happen to you, keep the following in mind:
Confirm with the government office that they sent you communication before replying to it
Be aware of what official notices from government offices look like and note differences
You will not be asked to verify sensitive information through email, phone or Whatsapp, but only through the actual website
Do not click on links. Visit the government website by entering the address manually
As is clear from the above scams, the main reason people become vulnerable to these frauds is that they tend to be too quick to believe an email or text is genuine and they too readily give over sensitive personal information.
Always take a few minutes to check the legitimacy of communications you receive by visiting the actual website. Avoid clicking links or giving personal information over email. Websites that need this information always have a secure way of providing this data on their sites. However, ensure that the site you are visiting is genuine. Do this by entering web addresses manually
If You Have Been Affected by a Scam, Talk to Cryptocointrace Professionals!
If you have lost money to a scam, talk to Cryptocointrace today. Our team has the expertise and knowledge as well as tools to perform in-depth research. We are skilled at investigating all types of scams and have extensive experience in the financial industry. We will help you get results for your claim and resolve your complaint or dispute.
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