Recent Fraud Alerts About Widespread Money Scams Today
Criminal syndicates are continuing to exploit the popularity of online social networks today. Money fraud is frequently mentioned in many of the latest scam complaints posted by users in online communities like BigScammers.Com. The fraud alerts generated from these postings point out that a lot of these criminals hang out in the most popular social networks to find as many victims as possible for their money scams.
The main objective of almost all fraudsters is to get loads of money as fast as possible with the least amount of work and resource cost for them. That's why according to the latest fraud alerts from BigScammers.Com and other sites - Many of these fraudsters go to the biggest online social communities today like Facebook, Twitter, Instagram and so on. They've also realized the importance of using social marketing tactics in their money scams long before social media became a global phenomenon.
These criminal syndicates also know that they can benefit greatly from exploiting the popularity of mobile devices and the mobile Web. One reason is that a large percentage of social media fans around the world use their mobile devices to hang out in these social networks. Plus, a lot of cyber security experts and online security analysts predict that in the next couple of years, more than 50% of the world's total mobile user population would've been victimized by these money scams, malicious technologies, online fraud and other illegal schemes on the Internet.
Top Fraud Alerts About Money Scams This 2016
According to the newest fraud alerts from BigScammers.Com and other online communities with user-generated scam complaints against the most prevalent cyber money scams today - The top schemes when it comes to money fraud this year include money flipping and check cashing crimes. Here's an overview on each of these scams:
1. Money Flipping - First seen in Instagram according to many BigScammers.Com fraud alerts and scam complaints, this money fraud has now reached other social networks like Facebook and Twitter. This is where users are tricked into investing in fake money-making opportunities online. Most of these fraudsters target middle-aged and senior social network users for their money flipping scams.
In a money flipping scam, these fraudsters post enticing ads to promote a money-making opportunity. They include convincing photos in their posts across these social media sites, as shown by some of the fraud alerts from BigScammers.Com about this scam.
Basically, they tell users that they have contacts at the largest financial institutions around the world. They claim that their contacts can easily add one zero to the numeric value of their investments. For example, if a user invests $100, then their contacts can flip this into $1,000. To make their scam more believable, they tell users that they will take a cut from what the user earns.
These scammers then tell their victims that to invest in this opportunity, they need to buy any gift card, money pack or prepaid debit card with any amount of cash credits. They then need to send the details of these cards and money packs to these fraudsters for processing. Of course, as mentioned in the fraud alerts about this money fraud - These criminals will simply run away with the money and disappear, never to return again. Their victims won't have any means to recover their money, since these cards and money packs are non-refundable.
2. Cash Checking Scams - This is where criminal syndicates issue fake checks to their victims. They ask these users to cash out these checks, take an enticing cut for themselves, and send the rest to these scammers. Of course, to make this more believable, these fraudsters create intricate systems for carrying out this money fraud.
One example as mentioned in many fraud alerts about these cash checking scams is where these criminals pose as interested buyers of certain products from solo online vendors and micro to small ecommerce businesses. They then tell these vendors that they'll just write them a check for the products that they want, since they won't be in town for the next couple of weeks or so.
A few minutes or so after sending these fake checks, these fraudsters contact their victims and inform them that they wrote the wrong value in the checks they just sent. To entice these vendors, they tell them that they can get to keep a significant percentage of the difference if they'd be so kind to send them the rest of the change.
Of course, as shown in the fraud alerts submitted by many vendors and ecommerce merchants who fell for these cash checking scams - Their banks call them a few days or so to tell them that they owe the value of the fake checks that they just cashed out. Some victims even get tangled in lawsuits and other more serious situations.
These are the most widespread money scams today, according to the fraud alerts this year from BigScammers.Com. To keep at pace with the newest fraudulent schemes that these criminal syndicates use to carry out these money scams - You should sign up at BigScammers.Com to receive real time alerts whenever users post scam complaints in this site. Notify your family and friends about these things, so they can also get fraud alerts that can help them easily spot and safely avoid these money scams.
