Scams
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KASL WESTON COUNTY EXTENSION REPORT BILL TAYLOR 4/24/12 SCAMS – CAN YOU COUNT THE WAYS?
Sc a m s k e e p m a k i n g t h e r o u n d s , from winning a sweepstakes to hitting the lottery. Unfortunately, most of these scenarios are scams. Following are some of the most common scenarios scammers have used to prey on unsuspecting victims, courtesy of Janie Bright in The Standard published by the Association of Financial Counseling, Planning, and Education:
Nigerian 419/Inheritance Scam Basically, the victim receives a letter, fax or email from a foreign location with news that a long lost relative has died. Scammers then pose as legitimate companies or government officials requesting personal and financial information.
Lottery/Advance Fee Scam This scam informs victims that they've won a large sum of money in an international lottery. When victims reply, they are asked for advance fees to cover the delivery of their supposed "winnings." In most cases, these victims often face identity theft issues, as well as other expenses and a whole lot of frustrations.
Lonely Heart Scam Scammers scour personal ads or matchmaking websites for victims to befriend through cyber relationships. This makes victims more vulnerable to share personal and financial information via e-mail, fax or letters. There has been an increase in scammers contacting potential victims claiming to be a very beautiful woman or handsome male residing in another country. In the majority of cases, they use improper English and request that the victim send money for a number of complications that the scammer is supposed to have incurred during their short relationship. Then, the scammer, posing as the new "boyfriend" or "girlfriend," desires to leave his or her country to meet the victim, but somehow is robbed, loses a job, or misses flights, etc. and needs the victim to help. Once the victim sends money, more complications usually arise and, inevitably, more money will be requested.
Rent Scam Scammers readvertise legitimate rental homes online and/or in newspaper ads for a much lower price. They then request an upfront payment or deposit from the potential renter who desires to get approved. The unsuspecting person may send the money in a desperate attempt to get a place to stay.
Work-at-Home Scam With this scam, unsuspecting victims may find themselves incarcerated. Most often, the victim works from home. Scammers offer commissions ranging from ten to twenty percent
of the total checks processed. This is an incentive to process as many checks as possible. The upshot is that once the checks have been cashed and eight percent forwarded back to the employer, the victim is notified that the checks were forged, stolen, or counterfeit. This leaves the victim owing the bank. The swindlers are long gone by that time and the victim is usually left with criminal charges that could land him or her in jail.
Guard Yourself Below are some very important tips to guard against becoming a victim of scams: Don't share your personal information over the phone, e-mail, fax or letter, especially if you were not the initiator of the communication. Always be suspicious if you receive a letter, check or money order along with a request to return (or forward) a portion of the funds to another location or someone else. Scammers often create sophisticated, authentic appearing counterfeit checks resembling those from financial institutions and large companies – meaning they have the actual routing and checking account information, as if it were legitimate. Unfortunately, just because you are allowed to withdraw a portion of the funds does not mean that the checks are good. You will be held responsible for the portion of funds you withdraw. Make direct contact with the financial institution listed on the check to verify it before you make the deposit into your account. Think twice about trusting the phone numbers or addresses about the company listed.
If you have second thoughts, trust your instincts—research your concerns thoroughly before making a move that you may regret later.
Pay special attention to e-mail addresses. Major companies have their own e-mails and never rely on fictitious companies for marketing purposes or any other reason. Therefore, if you receive an e-mail suggesting that you have just won a new car or one million dollars, or you receive a request for personal financial information, it is most likely a scam... Beware!
Bill Taylor Weston County Extension Office The University of Wyoming is an equal opportunity/affirmative action institution.
Sc a m s k e e p m a k i n g t h e r o u n d s , from winning a sweepstakes to hitting the lottery. Unfortunately, most of these scenarios are scams. Following are some of the most common scenarios scammers have used to prey on unsuspecting victims, courtesy of Janie Bright in The Standard published by the Association of Financial Counseling, Planning, and Education:
Nigerian 419/Inheritance Scam Basically, the victim receives a letter, fax or email from a foreign location with news that a long lost relative has died. Scammers then pose as legitimate companies or government officials requesting personal and financial information.
Lottery/Advance Fee Scam This scam informs victims that they've won a large sum of money in an international lottery. When victims reply, they are asked for advance fees to cover the delivery of their supposed "winnings." In most cases, these victims often face identity theft issues, as well as other expenses and a whole lot of frustrations.
Lonely Heart Scam Scammers scour personal ads or matchmaking websites for victims to befriend through cyber relationships. This makes victims more vulnerable to share personal and financial information via e-mail, fax or letters. There has been an increase in scammers contacting potential victims claiming to be a very beautiful woman or handsome male residing in another country. In the majority of cases, they use improper English and request that the victim send money for a number of complications that the scammer is supposed to have incurred during their short relationship. Then, the scammer, posing as the new "boyfriend" or "girlfriend," desires to leave his or her country to meet the victim, but somehow is robbed, loses a job, or misses flights, etc. and needs the victim to help. Once the victim sends money, more complications usually arise and, inevitably, more money will be requested.
Rent Scam Scammers readvertise legitimate rental homes online and/or in newspaper ads for a much lower price. They then request an upfront payment or deposit from the potential renter who desires to get approved. The unsuspecting person may send the money in a desperate attempt to get a place to stay.
Work-at-Home Scam With this scam, unsuspecting victims may find themselves incarcerated. Most often, the victim works from home. Scammers offer commissions ranging from ten to twenty percent
of the total checks processed. This is an incentive to process as many checks as possible. The upshot is that once the checks have been cashed and eight percent forwarded back to the employer, the victim is notified that the checks were forged, stolen, or counterfeit. This leaves the victim owing the bank. The swindlers are long gone by that time and the victim is usually left with criminal charges that could land him or her in jail.
Guard Yourself Below are some very important tips to guard against becoming a victim of scams: Don't share your personal information over the phone, e-mail, fax or letter, especially if you were not the initiator of the communication. Always be suspicious if you receive a letter, check or money order along with a request to return (or forward) a portion of the funds to another location or someone else. Scammers often create sophisticated, authentic appearing counterfeit checks resembling those from financial institutions and large companies – meaning they have the actual routing and checking account information, as if it were legitimate. Unfortunately, just because you are allowed to withdraw a portion of the funds does not mean that the checks are good. You will be held responsible for the portion of funds you withdraw. Make direct contact with the financial institution listed on the check to verify it before you make the deposit into your account. Think twice about trusting the phone numbers or addresses about the company listed.
If you have second thoughts, trust your instincts—research your concerns thoroughly before making a move that you may regret later.
Pay special attention to e-mail addresses. Major companies have their own e-mails and never rely on fictitious companies for marketing purposes or any other reason. Therefore, if you receive an e-mail suggesting that you have just won a new car or one million dollars, or you receive a request for personal financial information, it is most likely a scam... Beware!
Bill Taylor Weston County Extension Office The University of Wyoming is an equal opportunity/affirmative action institution.
