Affinity fraud occurs when scam artists use their victim’s religious or ethnic identity to gain their trust, knowing that it’s human nature to trust people who are like you. Fraudulent business opportunity ads frequently appeal to people who have few job skills and are desperate for money. The dream of being your own boss is the primary appeal of franchises and business opportunities. Con artists realize that the desire of many Americans to own their own business may make them less cautious when it comes to evaluating franchises and business opportunity deals. Con artists bypass state registration requirements to pitch such products as pay telephone and ATM leasing contracts and other investment contracts with the promise of “limited or no risk” and high returns. Many of the notes are short-term debt instruments issued on behalf of a fraudulent institution or companies that don’t exist, each promising high returns upwards of 15% monthly — with little or no risk, typically with a maturity of 9 months. Polling companies have made an industry of keeping track of what voters think. Have you ever been a victim? A common tactic used by these scamsters is to falsely promise to rebroker or resell the coins to another investor for a profit so that the victim is led to believe that he or she cannot lose money. In one major scam, con artists simply pocketed millions of dollars of investor funds and never bought gold. This po st was done with t he help of GSA Content Generator Demover sion !
Even when U.S. investors deal with legitimate investment opportunities overseas, they remain vulnerable to such factors as loose or nonexistent investor protection regulation, currency fluctuations, limited opportunities to pursue grievances and political instability in some nations. Viatical investment companies solicit investors to buy interests in the death benefits provided for in life insurance policies of terminally ill patients, including AIDS and cancer patients. They use the Internet for a wide variety of scams including pyramid schemes; promotion of bogus “prime bank” investments; and enhancing the sale of thinly traded stocks. For example, a victim may be misled into believing that the coins were recently obtained through an exclusive estate sale and are in very short supply. Often, these coins are delivered in poor condition or are never sent at all. Trusts are not just for the very wealthy — they can be advantageous for anyone with an estate worth $100,000 or more. There are two kinds of card fraud: card-present fraud (not so common nowadays) and card-not-present fraud (more common). It was two years later that the Meros felt a second wave hit them, when the engineer who assessed their home after the storm called them out of the blue. The Internet’s wide reach and supposed anonymity are two attractive features for scam artists. Con artists often claim to use complicated strategies that the average person can’t understand.
Ads for frauds often offer high income to the person who will invest enough to cover individual start-up costs, ranging from $50 to several thousand dollars. BBB urges the public to be on guard against online pet scams; inspect an animal in person before paying money, and pay by credit card if you do not make an online purchase. The Office of the New York State Attorney General urges ordinary investors to be careful when considering investment opportunities advertised online and consider these tips for recognizing and avoiding fraudulent solicitations on the Internet. The Attorney General urges investors to ignore anonymous financial advice on the Internet, via e-mail or advertisements. Such investments may be promoted on the basis of the fear of losing a job or general uneasiness about the economic situation. Investors incorrectly assume that because the media outlet is reputable the advertisers are as well, not realizing that the media outlet may not screen its advertisers. Such tangibles as gold and silver seem particularly appealing to investors during uncertain times. How can swindlers avoid delivering when they promise gold bars? That is the promise of swindlers who claim to be able to sell precious metals directly from mines. Scam artists promise investors triple-digit returns through access to the investment portfolios of the world’s elite banks.
There was also much room for improvement in the efficiency and customer-friendliness of banks. There are many different types of insurance fraud and well-hidden techniques or complex legal jargon can often make them difficult to prove. After pumping up the stock, fraudsters make huge profits by dealing their cheap stock on the market. The perpetrators who bought the stock early sell-off when the price peaks at a huge profit. After packing and loading, the client is informed that their goods went over the expected weight estimate and the additional weight will be charged at a substantially higher rate (often double the original price per pound). The result is a quick spike in stock price followed by an equally fast downfall. Redeeming the CD early may result in large losses — upwards of 25% of the original investment. Investment promoters may conveniently forget to mention their management fees or penalties for early withdrawal. By leveraging these capabilities, fraud management systems enhance their efficiency in detecting and preventing fraud, ensuring the security of businesses and customers. Workers compensation insurance is intended to give businesses and workers a safety net in hazardous jobs. Workers comp insurance fraud can be conducted by either workers or employers to receive inflated compensation amounts.
