Knowing how to prevent fraud is an essential step in protecting your finances. You need to gather the tools and a mindset if you want to be effective in fraud prevention.
Short and distort is a less publicly known trading scam similar to the classic pump and dump. Shorting is a word in traders’ jargon and means basically selling a stock, currency, crypto or any other similar financial item that can be traded. Imagine some stranger reaches out to you and says: “Buy this penny stock before it skyrockets, and you’ll get RICH!” It may feel exciting, but you don’t need to take action if you don’t trust the advisor. Now, …
Profit decreases and can’t explain why? Do your clients return perfectly working products for no reason? Refund policies give buyers the confidence to buy with no obligation to keep an item they don’t want. But others can use this privilege for profits. You want to offer a generous return plan to attract shoppers. But you neither want to make it so strict that it affects sales. What’s the problem? What Are Refund Scams? If you’re losing sales, but product quality …
How would you feel if you lost your wallet? Most people would file a fraud alert. They’d call their banks to block their credit cards. As for the cash, there’s little you can do. How about the ID documents? Yes, that includes your driver’s license. Most of us do not think of our driver’s license as particularly valuable or something that we need to decidedly protect, but there is more than one driving license scam out there that could affect …
Buying the newest car isn’t always the best option, especially if it’s your first one. There’s a car model out there for each driver, based on how you want to use it. Sleek? Economic? Reliable? Your dream car could be waiting for you for a much lower price on a private owner deal. The question is: are used cars so different from the super-new? It depends on the way you drive, and what model you buy. Some high-mileage vehicles look …
After months of hard work, a vacation is just what you need. It’s time to forget about problems and relax in the best hotels out there. But best doesn’t always mean popular or cheap. Best stands for a place where guests pay fair prices and feel valued. Because who wants to spend a vacation stressing about hotel bills? Hotel fraud is a hidden pandemic and if you don’t check your bill twice you may be charged for unwanted services without …
At some point, a stranger approaches you with good news. He presents as a law expert who worked with a millionaire client with the same last name as you. He explains that by using some legal tricks, you could inherit his fortune. Perhaps they say you’re already entitled to the whole sum. But unlocking the funds, however, makes a different challenge. Here’s a man trying to make you invest time and money to reward far more money. You don’t know …
One of the basic foundations of the judicial system of every free nation is the notion that “no one is above the law”. This concept is very vital in the preservation of social order. In line with this, most laws are enacted in order to protect the underprivileged against those who will use their power and influence to oppress the weak. With this, lawyers are appointed as the vanguards of justice and the seekers of truth. Attorney scams are not …
For many advertisers, pay per click ads are the holy grail of their business. By making a relatively small investment, they multiply their profits. PPC ads scale well and are provide fast results and performance feedback. PPC ad campaigns have also earned themselves a bad reputation. Millions of people wasted their money either through their own mismanagement or through external factors that are less in their control. The same advertising miracle tool can transform into a money pit. Marketers usually …
Wire transfers are a popular payment method, and sometimes this is exploited for the wrong purposes. It’s a convenient way to receive money, but we can’t say the same about sending it. Why? Because wiring money to a stranger is like moving cash: once the other has it, you most likely lose it forever. Many scammers request wire transfers to their victims because of these “flaws”. It’s not that bank wire transfers an services like Western Union or Moneygram are …
The best way to steal is the subtle way. No matter how it’s done, there’s a better chance to succeed if the victim never notices. That’s why modern thieves prefer more elusive and nonviolent methods, like cashpoint scams. ATM Fraud is as old as the machines themselves. When you enter your credit card into an ATM machine and provide the proper associated PIN number, you should in normal circumstances establish a “link to your bank account” . However, once the …
When changing locations, moving can be stressful. Packing all those boxes, organizing your goods, and scrambling it into the van. This task can easily take many days of your time. Without the proper gear, it can lead to damaged items, storage problems, and more gasoline expenses. But don’t think it’s over! Moving your stuff is less than 50% of the work. The same chaos awaits in your new location. Then there are professional movers. Yes, those who charge you $800 …
Which one would you choose? Would you like to receive a million dollars right now? Or perhaps get a penny and double it for thirty days? If you do some simple math, the second option yields five times more gains than the instantaneous reward. Thus, compound interest is the secret of how Warren Buffet made his money, and how you could do it too with a High Yield Investment Program. You may have heard their promotions: “Make large returns from …
Everyone, in some way or another, is connected to a group, association or community-based organization. Our interests, backgrounds, and other factors will naturally lead us to those affiliations that best serve our needs. Race, culture, and religious beliefs also play a role in identifying us as members of unique groups that we often come to trust. Affinity Fraud is a type of scam that takes an emotional as well as financial toll on its victims. This is any one of …
Would you hand someone your credit card and tell them to go have a shopping spree, your treat? No. But you may as well be doing that if you don’t take some precautions with your identity. Fraudsters are watching you, and they’ll jump at the chance to steal your bank account number, Social Security number, and anything else they can exploit for personal financial benefit, not caring about the damage their victims may face. If you really want to hand …
Did you just receive a suspicious email, call or a text message that was supposed to be from Bank of America? How to tell if it’s a scam and what can you do about it? Thieves attempt to lure you into providing personal information with the help of bank phishing and email spam, fake telephone calls or even through regular mail. The goal of getting your personal information is the same, just the communication method is different. Bank of America …
Who hasn’t heard of Amazon? Millions of people visit one of the largest e-com platforms in the world. Whether you come to buy or sell, your opportunity could only be a few clicks away. But how did Amazon get this far? Their secret is customer obsession: what’s best for the buyer is what’s best for us. Customers always value lower prices, faster shipping, and higher quality. If you agree on these principles, the Everything store may be the right place …
Imagine the situation. One day without warning, Amazon reaches out by phone. It could be confirming an order, renewing a subscription, or checking for account security. Then, they mention some charges you don’t remember ever allowing. “If you recognize this transaction, hold on the line. If you want to cancel, press the following numbers.” If they charged you for services you don’t remember buying, would you cancel? Of course. People who got this robocall would press the number to cancel …
Cryptocurrencies bring a lot of opportunity for investors, and it couldn’t be more true for scammers. In fact, it’s become their favorite space, so expect to hear about them. They’re everywhere at all times, so it’s a matter of time you encounter one. But are you ready to protect your money? Someone right now could be promoting a Bitcoin pyramid scheme. People are sending them money that they won’t see ever again. Maybe a hacker is planning an exchange attack. …
Who doesn’t need money? Having enough of it may mean more freedom and choices. But how much is enough? Is it really that important? For many, it’s not as important as time. Having money is great, but it takes time to produce it. Time is limited, and money is not. If you want money, you can trade it with your time. And if you lack the time, you can buy it with money. That principle makes freelancing work. You see, …
Once you’ve been a victim of fraud or identity theft, it’s difficult to know what you should do first. One of the statements you may have heard when it comes to identity theft is a fraud alert. But do you know what fraud alerts do, what types of fraud alerts are available or how fraud warnings work? What Is a Fraud Alert? Credit fraud is nothing you ever want to concern yourself with, but the sad fact is that some …