How Pump And Dump Schemes Work

When was the last time someone helped you for no reason in particular? You get private information, someone sends money, or finds someone’s wallet. The help received makes you feel privileged. It may be luck, goodwill, and also a hook. No matter the purpose, that gift makes you trust the person. The same can happen when investing. Imagine getting help from an insider who has privileged information about stocks. The problem is: Everybody talks about the penny stock rise. What …

Definite Guide to Accounting Fraud And False Bookkeeping

Success in business is about reaching financial goals. But to be where you want to be, you need to be transparent on where you currently are. Accounting fraud is a costly mistake in business. You can be brilliant at making decisions. If the data used is inaccurate, you cannot get the right results. These tricks create uncertainty, which reduces your control over the business. Whatever is measured improves. What Is Accounting Fraud The purpose of accounting is communication. It’s about reporting the …

Unbelievable ATM Scams You Need To Be Aware Of

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 …

Credit Card Fraud: Things You Didn’t Know

Most Common Credit Card Fraud Types and Examples

Credit Cards are a convenient payment method, but this conveniences brings about some risks. Fraud with the use of stolen credit cards is committed for the purpose of obtaining goods without paying, to obtain unauthorized funds from a bank account or to sell stolen information further. What Is Credit Card Fraud? Credit card fraud costs cardholders and issuers hundreds of millions of dollars each year. While physical theft is the most obvious form of credit card fraud, it is not …

Black Money Scam Guide: Avoiding The Cash Wash Trick

What is black dollar money? In short, it is a scam, also known as “Black Dollar Scam” or “Chemical Wash Scam”. In the scheme a victim is convinced they inherited cash by various means. Why is the money coated black? The scammers will make you believe that the money had to be painted black to avoid attention from the authorities. Now you have to pay the chemical cleaning fee in order to gain access to the clean cash. Is Black …

Types of Check Fraud & How to Prevent It

Even in our digital technology era, many still prefer to pay by check or bankers draft. One reason for this is that people do not trust computer technology and have misconceptions about online banking. This is understandable because of the fact most of these people may be computer illiterate and what is unknown to human mind causes fear or rejection. In this case however, fear is totally obsolete, for statistics show online banking is safer than checks. To protect yourself …

Definitive Guide to Insurance Fraud

The insurance industry collects more than $1 trillion in premiums each year in the United States. Insurers as well as the insured are trying to take a piece of that pie. When they do it in a dubious way, we call it insurance fraud. When we think of insurance fraud, we usually imagine individuals or people collaborating to defraud an insurance company. However, elaborate schemes exist to scam people off of their money by the insurance companies as well, or …

What Are & How To Navigate Through HYIP Scams

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 …

Cheap Electronic Products Scam

Have you been on the lookout for cheap electronics, mobile phones, game consoles and digital cameras for your own private use or to turn a profit? There has been an increasing hype to buy electronic items at a much lower price than the retail price. Many individuals are looking to buy items for a low price and then resell them on eBay or similar auctions websites and turn a profit. Online electronic product shopping scams involve perpetrators pretending to be …

Advance Fee Fraud – What Everyone Should Know

Started in the 80’s this scam has run per normal post, fax and per telephone and now in our internet age only increasing the number of victims. Stolen funds are subjects to a very low rate of recovery. Organized thieves are scamming people from all over the world. Many online schemes promise you the moon, only to take away your hard-earned money. Variations of advanced fee fraud are countless and can appear in new fashionable ways daily. Exploiting Fake Hopes: …

How Scammers Open a Fake Paypal Account

Why Would You Need A Stealth Paypal Account

Paypal is a safe online payment option if you know who the recipient is. Everything is possible to manipulate in our computer world though, and we can do so with paypal as well. A fake paypal account can be opened in a couple of hours and verified with fake documents later on. Therefore you should not base your thrust on the fact a seller is using paypal. A step by step method on how to open a stealth paypal account …

How Scammers Use Western Union to Commit Fraud

Western Union. To use or not to use? Let’s say you have a friend in a remote country who suddenly lost his money and ID documents. Western Union has created a convenient, immediate method to send money abroad. Western Union works great IF you’re the one who receives the money. As a sender, wire transfers require caution to avoid Western Union scammers. What Are Western Union Scams? Reliable? It depends on who you ask. With an effective payment method, you …

How to Protect Yourself from Escrow Scams

Are you planning a big transaction? Remember to use escrow. You can rest assured that the funds transfer with maximum security. Escrow companies can be very helpful assisting a transaction between buyer and seller safely, but you ought to make sure you are using a legit service. Once both parties meet the agreement conditions, they get the deal and walk away happily. The benefits of using an escrow service is that you can move large sums safely, even if you …

Did You Take Part in Money Laundering Without Knowing It?

Money Laundering The Truth About Good Opportunities

One day, you find a no-brainer deal online. Or a job offer that’s too good to be true. Or a lottery email. On another day, you start getting calls from investigators about issues you can’t relate to. All you know is you had the luck to get easy money from some stranger. What’s going on? You could be working for the mafia without even knowing it. But what do they want from you? This time, scammers don’t care about your …