#top scams

[bigscammers-blog]

Top Scams in the UK

Top scams are either ranked based on the amount of losses the victims of the scam incurred, or the number of victims that were affected by the scam. Determining the top scams helps the government and other authorities make proper preparation for addressing the problem. It also allows scam experts to come up with anti-scam security programs that can benefit more people.

This is the reason that countries that are the primary targets of online scams have taken the initiative to create their own ways to monitor the different scams occurring in their country. The UK, for example, has its own website where victims of the scam can report information on the scam that they experienced. Third party witnesses who know about a scam can also visit the site to provide additional information. This gives the UK government a more accurate picture about the top scams circulating the Internet. These top scams include:

Boiler-room Schemes

Boiler-room schemes are similar to investment scams. Scammers use fake investment offers with high returns of up to 40%. They do this as a primary ruse to convince more victims to invest. The offer is usually available for a limited time only, which is a tactic utilized by scammers to rush victims into investing and prevent them from scrutinizing the investment plan further.

Records show that in 2016 five thousand investors reported a collective £1.73bn worth of losses due to this malicious scheme. This is the reason why the UK government encourages its people to check the reputation of their investment prospect through FCA or Financial Conduct Authority before they start investing.

Phishing Scams    

Phishing scam is one of the top scams in the UK. This online scam utilizes email as its primary platform. The scammer may randomly contact potential victims or target a specific establishment or person in order to get victims. They usually send out false emails containing false claims or stories that will require the victims to willingly give out their bank or credit card login information. The scammer will then use these details to raid the account of the victim.

The only way to keep this type of scam at bay is to keep yourself updated about their latest tactics and be wary where you leave or give out any confidential information. As much as possible refrain from using your login to a new computer or unsecured platforms. The only way phishing scams can harm you is if they get your financial information, so all you need to prevent this from happening.

Homebuying Fraud

Homebuying fraud is a big problem in the UK. Many people have lost thousands of dollars because of this scam. This scam operates by monitoring and intercepting exchange of emails between the buyer of a house and a legit realtor. Once the buyer and realtor begin their transaction about the initial deposit, the scammer will send a new email containing a change in payment instructions. The scammer will then immediately withdraw the money once the unsuspecting buyer deposits it to the scammers account.

The only way to avoid this type of problem is to always check directly with your realtor and observe any unusual or last minute changes in the payment schedule. This way you can confirm that you are not communicating with a scammer.

The details above are just some of the top scams plaguing the UK in the current climate.  

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(via TRICKS ABOUT TOP SCAMS IN CANADA YOU WISH YOU KNEW BEFORE READING OUR BLOG)

[bigscammers-blog]

The Top Scams To Emerge In 2016

With IoT and Big Data, the way scams are executed has changed forever. Identity theft, imposter tricks and new malware are some of the top scams to emerge in 2016. A growing value of social media sites, ransom demands and IoT were associated with massive changes in the way top scams are carried out.

#1 Phishing and ID Theft

This remains one of the top scams of 2016. It relates to other scams as well. Growing number of security breaches have led to personal records being stolen. According to technology, more than 2.2 billion records were stolen in 3000 data security breaches during the past year. That's about 1 in 4 people on earth, just to give you an idea of how widespread these top scams are.

#2 Imposter Scams

This is a case of identity cloning where people take on someone else's identity. This has led to a rise in bogus kidnap schemes as well where imposters pretend to be kidnappers and trick parents into paying up, making them believe their children are being held by the criminals. Fake IRS officers asking for unpaid taxes and “companies” promising cuts in utility bills in return for small fees are some of the other common imposter scams.

#3 Fake News Site

With the emergence of the November elections, the emergence of fake news sites has mushroomed at a rapid rate, making it one of the top scams in the emerging and developed world alike.

#4 Malware

This is one of the top types of phishing and hack attacks where criminals load malware into the computer of the victim. They then trick the victim into accessing their computers. Malware also targets internet sites. The increase in ransomware has made it one of the top scams and most common internet frauds in 2016.

#5 Bogus Online Sites

These are on the rise too. Automated robocalls and scammers continue to invade the world of online shipping. Crooks have also used computers to mimic telemarketers and make off with thousands of dollars of the victim's money.

#6 Dating Scams

These are one of the top scams, where a criminal online Romeo's attempt to give tragic love a new twist, making off with the victim's money and leaving them heartbroken. Sob stories are used to ask for financial help and emergencies are invented so that the victim feels the emotional pull and responds to the calls for help. Love can make people blind, but these smart criminals also rob people blind, looting them of thousands of dollars.

#7 Lottery and Sweepstake Scams

These were among the top scams in 2016, with increasing cases of fake lottery scams online being busted. The scams have become less impactful as people have become more advanced in their understanding of how scammers operate.

#8 IoT Scams

Internet of Things has not just changed the way people do business, but also how scammers operate. Crooks gain control of devices such as PCs and turn them into bots for launching spamming campaigns and malicious attacks.

#9 Advance Fee Scams

Among top scams of 2016, this scam is noted for using various forms of communication including online ad sites, campaigns, telesales and snail mail to ask people to cough up a small fee for big money. The only real money spent is by the victim who is lured by the false promises of the advance fee scam.  

As social media has expanded, and online communities have grown, people have become susceptible to top scams in the virtual world with a very real impact. Top scams of 2016 are noted for how they use virtual technology for making the world a criminal's dream come true.

[bigscammers-blog]

Top Scams that Target Online Dating

Online dating fraud is among the top scams on the Internet

Online dating fraud is a double-hitter. You don't only lose money; you also lose a potential relationship. This makes it the cruelest of top scams online. The psychological impact is intense and destructive. One day you are in love and being loved. The next day, you are alone with an empty bank account or debts. You can't trust people anymore including yourself.  

Online dating scammers profile

Like many online top scams, most scammers don't work alone. They have networks, exchange information and work together. Multiple individuals may work on the same case: a writer (emails, chats), a caller (phone communications) and actors (posing as family members or authority figures).

Online dating victims profile

Those who fell for one of the top scams online were often intelligent and down to earth people. According to Prof. Monica Whitty's research, what most victims have in common is a strong belief in romantic destiny, tend to idealize romantic partners and are psychologically ready to fall in love.

Anatomy of one of the top scams online

Scam online profiles fit basic stereotypes and biological needs. Males will be financially successful,but in need of emotional support. Females will be physically attractive with a low-paying job.

•         First contact: you will receive a long message with a personal description and how they immediately loved your profile. Everything about that person is positive and great, almost cliché. There is a sad experience included appealing to your instinct to help others, like adead wife, asick child or parent.

•         Two birds with one stone: the scammer will want to continue the exchange outside of the dating site. The scammer will claim it's because you are the only one they like and wish to communicate with you exclusively. The truth is, the website administrators will delete that account as soon as the profile is flagged as suspicious. You feel special, the scammer has an excuse for a deleted profile.

•         Grooming and distress: the scammer will dedicate weeks, even months to develop a trusting relationship. Once he/she is successful, there will be a crisis. An accident or stuck penniless in a foreign country. Some scammers test the waters and ask for a present or a small amount of money first. In some cases, the victim is lured into cyber-sex on camera, which will be recorded and used as blackmail.

•         When it's over, it's not over: if you stop sending money a different scammer may contact you, for instance a police officer who arrested the culprit and will send you back the money for a fee. A “family member” may say that the scammer didn't meet you as planned because he/she died and ask you to donate money for the funeral. When confronted, the scammer can resort to admitting the fraud but say that they fell in love in the process, and you are back to “scam square one”.

Help prevent romantic fraud

If you have been a victim or know one, gather all the information you have on the scammer and share it on websites that specialize in preventing online top scams.

[talkingfinance]

Identity theft – know how it happens

The ease with which one can access an individual’s identifying information has become problematic over the past years because it spawns identity theft. Crimes related to id theft involve using a victim’s personal information to impersonate him/her for the usual purpose of financial gain. This is now becoming a common problem with many consumers being affected every year. Before one can effectively devise a strategy to protect themselves against identity threats, it is important to first know how thieves obtain their personal information or what actually cause identity theft. The most common method of id theft is to steal someone’s wallet, but there are other ways to obtain your information. These include dumpster diving, shoulder surfing, phishing and skimming.