There are numerous types of money
scams running on internet such as fake gambling sites, fake prescription
medicines, cheap mortgage selling companies, fake online loans, etc. Their sole
purpose is to snatch your money from you and flee.
Many common internet or money scams
have prevailed over the web for several years now and some of them are still
operating. For instance, the Nigerian 419 scams that have been around for
decades.
The 419 worked like this: The sender
of the email addressed themselves as a government official, or wife or relative
of a Nigerian tyrant, who depicts a sad account where millions were deposited
in their bank account but they are not able to access it. However, if you are
ready to help them, then you will get a big chunk of this treasure. For that
you will just have to transfer few thousand dollars/euros/pounds, etc. into
their account.
This sounds quite ridiculous and
phony when you think about it and many people would not believe this in the
first instance. However, thousands of people fell for this money scam and lost
their savings.
Another type of scam that was quite
popular was the one which promised massive returns if you made small
investments. You will be assured that investing the money is risk free as it is
not invested in any financial market. However, after the investment you don’t
get any returns. You don’t even get you own money back which indicates that you
have invested in a money scam.
People who have a bad credit to
their name usually fall for credit card scams that offer them lower interest
rates even if their score is ruined. The scammers then ask for a security
deposit and administrative fees. They then inform you that within a period of
10 days, you will get your credit card. But you end up with… nothing.
Another famous type of money scam is
the multilevel marketing plan. Here you will be urged to buy a product that is
expensive, with which you can then start your own chain of sellers that ensures
a high amount of commission every month. The moment you pay for your product,
the next second you will no longer find the existence of the company. Let alone
the commission, you wouldn’t even get the service or product that you paid for.
The golden rule here to avoid being
a victim of money scam is to ignore these benefits and plans offered by such
companies. As soon as you get emails from such fraud companies just delete them
and do not reply such spam emails. The most important rule for you to remember
here is to never give out your personal information or bank details. Also,
never enter your password in any email that you are sending. No legitimate
company will ask for such details in emails. They are nothing but scams. So,
beware!
If you find yourself in middle of a
scam, the best thing is to report them as soon as possible. Notify your bank
and also the local authorities. This way appropriate action would be taken
against them.
