Category: common-scams

Other Types of Scams

There are many ways of making some extra money online and offline. However, among these legitimate opportunities are a variety of frauds that seek to take advantage of people who need some extra cash. Along with numerous forex trading scams, crypto scams, and CFD scams, there are also many other types of fraud that target people from all walks of life. 

What may seem at first as a reliable money-making opportunity may quickly turn sour. Often people have their doubts before the scammer takes their money, but they don’t pay attention to their gut feeling and feel it is worth the risk. 

Once victims have lost money, they may feel there is no hope of getting it back. However, it is important to file a complaint and to pursue fund recovery, because in many cases, people do get at least a portion of their money back. 

CryptoComplaint experts assist people who have been affected by all types of fraud, including CFD scams, crypto scams, and forex trading scams. Our team has the resources to provide guidance to consumers and get them started on the fund recovery process. 

Common Types of Scams

The scams that tend to grab headlines are crypto scams and forex trading scams that defraud consumers of tens of millions of dollars. There are many other types of frauds everyone should know about and take actions to avoid. These scams include:

  • Romance Scams
  • Benefits and Social Security Scams
  • Loan Scams
  • Debt Collection Scams
  • Sweepstakes and Lotter frauds

Romance Scams

Many people are looking for love online. Most of us know a happy couple who met each other on a dating platform or on social media. Although most of the people on these platforms are sincere about finding a match, there are plenty of fraudsters who are feigning their identities online and are not looking for love, but for money. 

The term “catfishing” denotes someone who is pretending to be someone they are not online and meeting people under false pretenses. The goal is to phish data so they can commit identity theft and make charges on a credit card or to a bank account. They may also ask directly for money and disappear. The victims in romance scams not only get their hearts broken but can lose thousands. 

Benefits and Social Security Scams

Unfortunately, fraudsters tend to focus on the most vulnerable people in the population. The elderly are frequent targets of fraud because they are assumed to be less skilled at using technology and may not be well informed on the mechanisms of scams. 

In addition, since many of the elderly receive regular benefits, such as social security, scam artists hope to get their hands on this money. They may also encourage older people to divert their funds from their retirement accounts and end up investing them with scam brokers who take advantage of them. 

These scammers will often cold call elderly Americans, send a regular letter or an email. They will pretend to be from the government and will ask for verification. With the information provided by this verification, they will steal the social security checks or divert funds from victims’ accounts. This is particularly cruel because seniors who are retired have no other way to make money to compensate for these losses. 

Loan Scams

Along with the elderly, those who face large debts are often the targets of scams. They may feel inundated with fraudulent services because these scam artists sell information to each other about people who owe money. In addition, one fraudster may operate several related scams. 

These loan scams will contact their targets directly through phone, email or text. They will offer a huge loan and claim that they do not care about the victim’s credit score. The scam will ask for an upfront fee and data so they can search for a loan and then disappear with the money and the data.

Otherwise, they may lend the person the money themselves and charge extremely high-interest rates. There are also loan sharks who can be very dangerous to deal with. 

Sweepstakes and Lottery Frauds

People are often thrilled to hear that they won something, particularly large amounts of cash. However, receiving news about winning a lottery or sweepstakes out of the blue even without entering the contest should be a red flag of a scam. 

The person will be contacted by phone, email, or text. They will be told they won hundreds of thousands or millions of dollars. The only thing they need to do is to provide identification information or fees to release these funds. First of all, these contests do not provide awards to people. 

Debt Collection Scams

Debtors are often the targets of scams. They are seen as desperate and more likely to fall for frauds. Scam artists often purchase lists from other fraudsters, which is why people tend to get hit with a lot of scam spam. They also phish or hack lists of debtors for leads of who to hit with loan scams and debt collection scams. 

A debt collection scam begins with a fake letter or an email that looks like it is from a debt collection agency. The communication will say that the person must pay a certain amount of money they owe plus interest or they will have their valuables repossessed. 

Even if people don’t recall that they owe something, they may go ahead and pay to avoid the scenario of having their valuables taken. The scammers may also ask for copies of photo IDs and social security numbers so they can commit identity theft. 

If you have been the target of any of these scams, it is important to report them so authorities can track the scammers down. You can start the fund recovery process by contacting  Crypto Complaint experts for assistance. 

Have You Been Affected by a scam? Talk to CryptoComplaint Experts

Consult with CryptoComplaint experts immediately if you have lost money to a CFD scam, a forex trading scam, a crypto scam or another type of fraud. Our team can provide solutions and advice on how to seek restitution and recover from fraud. 

Add Your Heading Text Here