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General Blog

The Most Common Types of Fraud Activity in 2016

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Fraudulent activities unknowingly happen to all kinds of people. As soon as a fraudulent scheme is discovered, another new one surfaces. It’s important to understand the most common kinds of fraud so that you can take the precautionary measures to protect yourself and your family from negative effects. Let’s take a look at these common frauds below.

Telemarketing Fraud 

We can’t seem to get away from those telemarketers. Beware of any telemarketers that to ask you for money or your personal information. If you give anyone access to your credit card or send money to an address, it can be hard to recover your money. Check the caller id and ensure you ask for written copies of a company’s terms and conditions before ever giving them money.

419 Fraud 

Also known as the Nigerian Letter Fraud, unknowing persons receive a letter from a supposed Government official. The letter asks the recipient to supply money for bank charges and promises to return your money along with interest in the future. Those who have fallen for this fraud receive follow-up letters asking for more money.

Identity Theft 

This is one of the hardest types of fraud to recover from. The criminals behind this mastermind scheme tend to use the internet to attach data-seeking malware to people’s computers. The malware tracks a person’s credit card and other sensitive information that is used to make online purchases. A criminal will then use your identity to sign up for credit cards, welfare services, tax refunds, and more.

Investment Fraud 

Investment schemes are far and wide. Anyone that you plan on giving some of your money too should be someone that you truly trust. Any investor that wants to set you up with offshore accounts to avoid taxes, guarantees you unrealistic returns in a short period of time, or other behaviors like these should not be trusted. Rather, they should be reported. You can contact a Los Angeles CA Investment Fraud Attorney for more information about what to do if you have fallen victim to one of these schemes.

Fake Charities 

According to the Federal Trade Commission (FTC), fake charities are using the same tactics as regular charities which make them hard to detect. The best advice that can be given is to go with a larger charity that has been around for a long period of time.

Donating to a charity fund that you personally know volunteers is a plus. You should avoid any high-pressure pitches. In addition, any after disaster relief charities should be watched with a close eye. We suggest donating to the larger, well-known charities in post-disaster times as many scam artist prey on the generosity of those after disaster strikes.

We recommend that you review these scams and continue to watch the news and other media outlets to keep up on the latest scams that are out there. As we described earlier, scams change consistently and you should keep a watchful eye for anyone that asks you for your personal information or money.

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