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Online Scams: How To Avoid Getting Fooled
Beware of these three ways of getting tricked into giving up your financial safety through seemingly innocent make money schemes.
Scams are all around us and can be found in every single area of life, but more so in places where the financial risk is greater.
Be careful everywhere, but especially when dealing with credit cards, bank accounts and other activities which involve sending or receiving money online.
The Bank/Credit Card Email Scam:
If you get an email asking you to sign in to your bank account or credit card through the email itself because your privacy is in danger, or in order to receive a free gift or something: BEWARE! Do not sign up through the internet address, or link, provided in the email. If the email does make you anxious, go to the bank or credit card site using the address you already know, or find from the search engine.
How Does This Scam Work?
The sender of the email knows that only a very few will sign up, but that is all they need. When you signed up through the bogus internet link address, they got your user name and password. That is all they need to wipe you out! Now its time for them to party!
The Missing Millionaire Scam:
If you receive an email saying that they represent a dead or missing former ruler, high ranking official, or bachelor businessman from an African country (Nigeria?) , Persian Gulf or even Russia : BEWARE! They offer you a chance to earn anything between one to five percent of ten to one hundred million dollars. And, you will receive all this only for your willingness to help them. Do not get suckered into this. Even though they speak of giving you tons of money, they will receive the cash from your bank account.
How Does It Work?
They will ask you for your bank details in order to transfer the cash from their bank into your account, AND they will then use your banking details to transfer a small amount (usually less than $5) into your bank account. Now that they have your trust, they will ask for more personal and mostly secure details (social security number, your mothers maiden name) because they need that in order to transfer the entire sum of MILLIONS OF DOLLARS into your account. What they will not tell you is that they will transfer all the money OUT from your account... and you will never hear from them again.
The Make Money Fast Scam:
This is the most innocent of the group, but that is also why it is the most dangerous. These are so called companies that advertise that if you only sign up and use their system, you will mint money. Please do not fall for such schemes. They will pay you some money but then once trust is built, they will fleece your bank account. These are professional scammers. They will not leave a trail for law enforcement to follow. Remember that quick money scams are the surest and fastest way to lose everything!
Whatever else you do online, always keep in mind that the Internet is not a safe place. Treat it like you would treat any other business venture, and bring up your guard.
If you play it safe and avoid all such scenarios detailed here, you will be able to escape losing money to despicable crooks.