Pyramid Schemes – Article (Articles) (Pyramid Schemes) Understanding Pyramid Schemes Introduction Pyramid Schemes are fraudulent investment strategies that promise high returns for recruiting new members rather than from legitimate business activities. They are often disguised as multi-level marketing (MLM) programs, but their inherent structure is unsustainable and ultimately leads to financial losses for most participants. […]
Category: Common Frauds & Scams
Common Frauds & Scams – Frauds and scams proliferate across multiple sectors, each posing unique threats to consumers and businesses. These sectors include: Banking, Investing, Healthcare, Insurance, Energy, Real Estate, Product Manufacturing, Services, and Environmental. Understanding the challenges within these sectors can empower consumers to identify potential fraud and take appropriate action.
Prepaid Cards – Article (Articles) (Prepaid Cards) Understanding Prepaid Cards (PPC) Introduction PPC have become increasingly popular as a convenient alternative to traditional banking methods. These cards offer a way to manage finances without the need for a bank account, making them attractive to various users. However, with their popularity comes the risk of fraud. […]
Ponzi Schemes – Article (Articles) (Ponzi Schemes) Introduction to Ponzi Schemes A Ponzi scheme is a form of investment fraud that offers high returns with little risk to investors. Named after Charles Ponzi, who became infamous for using this scheme in the early 20th century, these schemes rely on the influx of new investors to pay returns to earlier investors. […]
Phishing Attacks – Article (Articles) (Phishing) Phishing Phishing is a deceptive tactic used by cybercriminals to obtain sensitive information, such as passwords, credit card numbers, and personal data, by creating fake websites that closely resemble legitimate ones. This article will explore what phishing is, the different types of phishing attacks, common tactics used by scammers, and how to protect yourself from […]
Non-Payment-Non-Delivery Fraud – Article (Articles) (Non-Payment-Non-Delivery Fraud) Non-Payment-Non-Delivery Fraud (NPND) NPND Fraud is a prevalent type of scam that occurs primarily in online transactions, where sellers either fail to deliver purchased goods or services after receiving payment. This form of fraud can have significant financial implications for victims and erodes trust in e-commerce. This article […]
Malware-Scareware Fraud – Article (Articles) (Malware-Scareware Fraud) Malware-Scareware Fraud (MSF) MSF is a type of scam that tricks individuals into believing their computer is infected with malware, prompting them to purchase unnecessary software or services to “fix” the issue. This article will explore what malware-scareware fraud is, common tactics used by scammers, how to recognize these […]
Lottery-Sweepstakes Fraud – Article (Articles) (Lottery-Sweepstakes Fraud) Lottery-Sweepstakes Fraud What is Lottery-Sweepstakes Fraud? Lottery-Sweepstakes Fraud involves fraudulent communications that claim the recipient has won a lottery or sweepstakes prize. Scammers typically use phone calls, emails, letters, or social media messages to inform victims that they have won a cash prize or valuable items, but first, […]
Real Estate Fraud – Article (Articles) (Real Estate Fraud) Understanding the Risks and How to Protect Yourself Real Estate Fraud (REF) is a serious crime that impacts buyers, sellers, investors, and even lenders within the property market. It encompasses a range of deceptive practices aimed at gaining financial benefit through false representations or misrepresentations related […]
( Affinity Fraud – Article ) ( Articles ) ( Affinity Fraud ) An Overview Affinity fraud is a type of financial deception that preys on individuals within specific communities or groups, exploiting their trust and shared interests. Fraudsters often present themselves as trustworthy members of these communities, which can include religious organizations, ethnic groups, professional associations, or […]
Identity Theft – Article (Articles) (Identity Theft) Understanding the Threat and How to Protect Yourself Identity Theft (IDT) is a growing concern in our digital age, where online criminals exploit vulnerabilities to steal personal information. This article will explore what identity theft is, how it occurs, and the steps you can take to protect yourself. […]