Money transfer scams are always on the rise.
They seem to fall in and out of fashion. However there's one thing that we know and that is money never falls out of fashion. March is fraud awareness month. So this blog is just to help you and our clients to be aware of the issues we face every day. Once you send money to someone it's not only the to be difficult but probably almost impossible to get the money back.
The original money transfer scams, sometimes called 419 fraud. This timeless scam has been around for decades and once in a while will resurface to abuse another generation of people were not aware. In this classic scam you probably get an email as opposed to a letter from the fraudster asking for your assistance to help transfer a large amount of money out of the country or overseas. You are offered a too good to be true percentage of the total amount just for your assistance. This is where the red flag should go off as it will also require your bank account details for the money to be transferred into your account. You will also be required naturally to pay some fees and some taxes in order for the money to be transferred successfully and for you to receive your hefty fee or reward . You lose the fees and the taxes you paid and you will never be sent any money.
Do you have a long-lost uncle or relative who has died and left you a huge inheritance?
If you received this email that comes from a lawyer or bank representative you scam alert antenna should go into overdrive. this story can get some people very excited as we couldn't possibly know all of our relatives and there just might be that nephew lurking somewhere became a multimillionaire . the email will last for your personal documents and bank account details so they can confirm your identity so that you may claim your inheritance. any taxes or fees that you send will be long gone now add a high risk to have your identity also stolen.
Hey you Mr.. consumer, you have grossly overpaid your bill and we need to send you back a refund check. The refund check you receive in the mail will be more than you expected. they will say the overpayment was a mistake and they need you to refund the excess. please refund the excess by money order other money transferring methods. be extremely suspicious as what defrosters hoping is that you will transfer the money will refund before you cashed a check and find out that the check is not valid. if you transfer that money it won't come back .
In a dangerous world you have to protect yourself.
Remember these five things should any of these situations arise:
- Ask yourself, I do not know this person is it really safe to transfer to someone I don't know.
- Don't get excited at the windfall you have got to investigate . go to the Canadian anti-fraud center website for information on how to protect yourself against money transfer claims. you will also see the most recent and up-to-date Internet scams trending at this time.
- You always have to think don't accept a check or money order for payment for goods that is more than what you agreed upon. you need to ask the buyer to send your payment for the agreed amount before you deliver the goods or services.
- Use Caution. Never send money. or give credit card or online account details. to anyone who you do not know or trust.
- Remember, It is probably a scam if you have been approached by someone asking you to transfer money for them.
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