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Frauds and Scams (SCAM)     

axdpc - 20 Sep 2003 15:08

Reports of frauds, deceptions and scams keep appearing, weekly even daily, on
major news channels and newspapers. Some of these frauds seem just too big and remote to be of immediate, direct relevance to our daily lives. But, we will eventually pay for the consequences and damages, in taxes, costs of goods and services, regulations, copy-cats etc.

I hope we can collect, in one thread, frauds and scams, reported or heard. We must become more aware and more educated to guard against frauds and scams
which impact upon the health, well being, and wealth of ourselves and our families.

Digger - 11 May 2004 07:36 - 61 of 628

Follow the link below on how to spot the ATM Scam!!!!!!!!

axdpc - 05 Jun 2004 17:44 - 62 of 628

"Don't be a victim
Take care of your credit cards

Credit card fraud is more than one kind of crime...


Most cases involve "skimming" where the genuine information held on the card's magnetic strip is copied electronically onto another card without the owner's knowledge.

"Card Not Present" Fraud

This involves using fraudulently-acquired card details (often from a discarded receipt) to make a purchase over the phone, the internet or by mail order.

Identity Theft

Known in America as "dumpster diving" this relatively new (but increasingly more common) crime is often refered to here as "bin raiding". Offenders can glean enough information from our rubbish to pull off the most elaborate frauds using our personal details.

Cash Machine Fraud

Many cases occur when the cardholder's PIN is kept with their card in a purse or wallet that is stolen.
Be aware of anyone who is crowding you at an ATM. Known as "shoulder surfing", offenders find out your PIN and then steal your card using distraction techniques or pickpocketing.
Offenders also can tamper with the ATM causing your card to stick in the machine. They later retrieve it and use it with your PIN.

The Facts...
Fraudulent use of card details occurs most often through telephone and mail ordering, less so through the Internet.
Estimates suggest that 1 in 5 credit card frauds committed on-line involve betting sites, according to a study by Europay and APACS. Card users "borrow" other people's card details for their stake in a growing industry that sees some 75m wagered every day, with about 300,000 punters placing bets on-line.
Skimming is the most prevalent type of card counterfeiting and criminals are estimated to lift information from as many at 200 cards a day, using them to spend an average 1,600 on each card they copy

How You Can Protect Your Cards
Guard your cards - don't let them out of your sight when making a transaction.
Be careful with your transaction receipts - don't lose them and dispose of them carefully.
Check your receipts against your statement regularly - contact your card issuer immediately if you find a discrepancy.
Never write down your PIN and never disclose it to someone else - even if they claim to be from your card issuer or the police.
Report lost or stolen cards immediately to your card issuer. You will find the appropriate number on the back of your statment and Directory Enquiries hold most telephone numbers.
Sign any new cards immediately and ensure you cut up the old card when the new card becomes valid or is activated.
Don't keep your cards in the same place as your cheque book.Keep your purse and wallet secure about your person. If you use a handbag, make sure your purse is kept in a secure pocket and be aware pickpockets.
Don't leave cards unattended in briefcases, pocket book or jacket. At work, keep your bag and other personal belongings locked in a cupboard or drawer.
When on holiday, use the hotel safe or safe deposit box.
Consider registering with a card protection scheme, particularly if you have a number of cards


Marzipan - 05 Jun 2004 18:52 - 63 of 628

My wife just received an email fraud from someone pretending to be Ebay security. They get your email address from Ebay and then send you a warning against fraud and ask for your personal details e.g. name, address, credit card no., 3 figure security code, expiry date, and PIN number.

Although the email looks authentic with logos etc, the email is fake, not from Ebay and the spelling and grammar errors suggest the email prob comes from abroad or someone foreign.

Just delete the email if you get one.

axdpc - 05 Jun 2004 19:21 - 64 of 628

Marzipan, thanks, what was the sender's email address?

Getting volumes more spam since the b? virus (forgot the name) since a month ago
(late April/early May).

Kayak - 07 Jun 2004 21:12 - 66 of 628

We don't all pay for the Economist...

axdpc - 07 Jun 2004 21:18 - 67 of 628

" ...

The practice is widespread. Spyware that monitors a user's online activities and triggers advertisements in response is present on over 4% of computers, according to one study. The top three spyware firms claim their software is installed on around 100m PCs. Yet most users are unaware it is there. That is because the software is usually installed in a bundle with other programs, such as the peer-to-peer file-trading software with which many internet users swap music. Another kind of spyware automatically installs itself when a user merely visits a particular site, a trick known as drive-by downloading. Having sneaked on to a PC, spyware applications can severely degrade its performance. Mostly, it is very difficult to remove; some programs are even designed to make removal as hard as possible.

The most nefarious forms of spyware steal information such as credit-card numbers or passwords by monitoring every keystroke a user types. This kind of software is already illegal, and is relatively rare. Much more common, however, is advert-triggering software, produced and distributed by software companies operating in a legal grey area, who prefer to call their products adware. There is real money to be made in hijacking screen real-estate and selling it to advertisers.

Kayak - 07 Jun 2004 21:23 - 68 of 628


Wildrover - 12 Jun 2004 04:18 - 69 of 628

Gangs of European spammers are moving to Britain to exploit a legal loophole which allows them to bombard email inboxes with impunity, anti-spam experts warned yesterday.
Campaigners have claimed the gangs are moving from countries such as Italy, where they face severe financial penalties or prison, to Britain, where the most they can expect is a 5,000 fine. No spam operator has been fined in the UK and the gangs see the country as a soft touch.

Unsolicited junk mail accounts for more than 70% of all email. Industry experts predict this will increase to 80% by the end of the year and to 90% by next summer.

The anti-spam organisation Spamhaus claims that legislation introduced in December 2003, allowing unsolicited emails to be sent to business addresses but not personal ones, has been seen by spammers as giving them free rein to interpret the law as it suits them and spam anyone they like.

Steve Linford, Spamhaus's founder, said the law was full of "gigantic loopholes" and its punitive measures derisory.

Britain, he warned, was on course to become one of the world's fastest-growing sources of spam and was already 10th in the table of the worst spamming countries.

Mr Linford said at least one major Italian spam gang had moved its operations to Britain because spammers can receive up to three years in prison in Italy simply for sending unsolicited mail. When Spamhaus exposed its practices the gang tried to mount a campaign against it, sending fake emails purporting to have come from the group.

Mr Linford regularly receives death threats from spam gangs because of his campaign. He said: "We get all sorts of threats from the American spammers, from 'We are coming to shoot you' to 'The next package you open will blow you out of the country'."

One death threat said: "You are a dead man. As God is my witness you will die soon horrid violent death [sic]."

British email marketing companies have not resorted to such extreme measures. Instead, they are using the loopholes to threaten Spamhaus with potentially devastating legal action if it continues to name them as spammers and block their mass mails targeted at business addresses.

Spam, according to British legislation, is "unsolicited email sent without the consent of the addressee and without any attempt at targeting recipients who are likely to be interested in its contents". The law bans only the spamming of private email addresses.

The Department of Trade and Industry agreed that business emails should be exempt from the law, a move which means spammers can fill up people's work email with adverts for Viagra, child porn and money laundering scams without their permission. The law, say campaigners, allows spammers to claim their emails are intended to go only to business addresses when they go to all and sundry.

A 5,000 fine faces those who spam private addresses and fail to stop doing so if a complaint is made. But a fine has never been handed down and, according to insiders, is unlikely to be because no extra funds or staff to deal with the problem were put in place at the Office of the Information Commissioner, the government body meant to regulate the information industry.

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Mr Linford said the government's claims that it allowed business addresses to be spammed at the behest of business was nonsense. "This comes as quite a surprise to us because any normal person and any British business who is inundated with spam is fed up with the stuff. More and more UK spammers are starting up because they are seeing that there's no action against spammers," he said. "Spammers know they can come here and spam the whole country with almost total impunity."

It is estimated that many spam companies, particularly those selling Viagra, make weekly profits of around 15,000. Others are simply frauds. A major concern now is the expansion of Russian gangs who offer to attack other businesses computers, sending viruses.

"Russian spam gangs are now a big problem on the internet," said Mr Linford. "These gangs will attack computer networks around the world for you and that is a much more serious form of spamming. American spammers tend to be conmen and fraudsters - and we see them operating in partnership with British spammers - but the Russians are much more hardcore. There is a level of criminality that they employ that is worrying. And our law allows them to come and do it here."

axdpc - 21 Jun 2004 15:00 - 70 of 628

"Fraudsters are taking advantage of the summer months when top executives are away to send fake invoices, according to the Advertising Standards Authority.

The body is warning businesses to beware of unfamiliar bills, especially those from Swiss, Austrian and Czech companies.

"It's not usually a huge amount of money, and so people have paid up," said an ASA spokeswoman.

She said the problem was affecting firms across Europe.

Non-existent subscriptions

"The invoices are sent out. Then [the fraudsters] call companies to remind people to pay," said the spokeswoman.


axdpc - 21 Jun 2004 15:28 - 71 of 628

"Financial adviser denies killing client.

FINANCIAL adviser accused of stealing an elderly client's cash and then murdering her today insisted he was not a crook.

Peter Crittenden, 64, allegedly seduced spinster Joan Beddeson before fleecing her of 280,000 and killing her when she demanded the cash back.


axdpc - 22 Jun 2004 09:49 - 72 of 628

"Bank and building society counter staff are to be issued with guidelines to help them spot rogue traders taking advantage of their customers.

The Trading Standards Institute (TSI) initiative is meant to stop traders forcing consumers to withdraw cash under duress to pay their bills.


According to Trading Standards, many complaints relate to traders who cold call offering repairs.

The rogue traders often fail to carry out the promised repair or do so to a poor standard.

To ensure they receive payment rogue traders will force customers to visit their bank or building society to withdraw cash.

In some cases, traders will intimidate their customer by accompanying them to the bank or building society.

Often rogue traders will target pensioners with savings.


axdpc - 25 Jun 2004 19:12 - 73 of 628

"Web Virus May Be Stealing Financial Data"

axdpc - 29 Jun 2004 18:35 - 74 of 628

"Gold coin scam wound up by the DTI"


Credit First Bullion Ltd of Upper Grosvenor St, London, ran a telesales operation and secured a number of sales for collectible gold coins. The coins were not sent to the customers, despite the company having sold them for 700% of their market value.


The DTI was alerted to Credit First Bullion Ltd's operation after dealing with a previous case involving its director, Andrew Laverty. Mr Laverty was involved in an art investment company, Chappell, Paige, Durant Ltd, which operated from the same address and was wound up on 19 November 2003 by the DTI, in the public interest.



chadbukl - 29 Jun 2004 19:53 - 75 of 628

Chap I work with advertised his car for sale in Auto trader he was contacted by a Nigerian who offered to buy the car without haggling and to put a cheque in to his bank account for payment along with additional funds so it could be shipped to his wife abroad plus a little extra for the hassle. Good deal not, apparently the cheques have been fraudulently obtained elsewhere and you are liable to return them and will probably never see your car again

axdpc - 29 Jun 2004 21:29 - 76 of 628

chad, sorry to hear about it. Does this guy smiles and laughs a lot?

axdpc - 06 Jul 2004 10:22 - 77 of 628

"Broker Brewin in 30m 'fraud' claim"

mpw777 - 06 Jul 2004 10:56 - 78 of 628

it happens again and again that those up the line do not seek to question why enormous profits are arising from a particular source.

on a general basis may i say that honesty and integrity are,in truth, rare in the financial world.

why do those up the line not seek to my mind each is as responsible as the party creating the wrong-doing. this is an aspect which the regulators hasve never addressed!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

axdpc - 09 Jul 2004 09:45 - 79 of 628

"Allan Langley-Smith, who traded as Hadleys Estate Agents of Queens Road, Brighton, was found to have breached the Estate Agents Act by failing to disclose a personal interest to a client and failing to disclose a personal interest to a prospective buyer


The law states that an estate agent "must disclose to his client promptly and in writing that he, himself or any connected person has, or is seeking to acquire, a beneficial interest in the land or in the proceeds of sale of any interest in the land".

Detection is the main problem. What's the legal definition of 'connected person'? Does it include friends and acquaintances?
IMHO, the law should be changed to say

"an estate agent must disclose to his client within 10 calendar days and in writing of all interests, known to the estate agent, in the purchase or proceeds
of sell of property/land."

emailpat - 15 Jul 2004 19:38 - 80 of 628

some chain letter doing the rounds-can't give all the detail as I deleted it,oops...-using e-mail you have to send 3 to the person on the top of a list of five through (I think)PayPal and forward the e-mail to 40 other people with
some 25000 reading the e-mails.
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