Other Scams

Other Scams

There are many ways of making money online and offline. However, there are also many scams designed to rob people of their hard-earned cash. While crypto scams and forex trading scams are growing quicker than other types of fraud, there are still other scams to watch out for. The following is a description of some common types of scams and tips to avoid them.

Staying safe from dishonest people means understanding different types of scams, how they work and taking measures to protect yourself. If you have fallen victim to a scam, it is important to report it immediately and deal with fund recovery experts who can help track down scammers and assist in efforts to get your money back. 

Broker Complaint Registry is the right place to turn when you have lost money as a result of hacking and identity theft. We consult with clients and refer them to experts who can pursue their cases in detail and work to investigate the hackers or the broker, and in many cases, succeed in fund recovery. Talk to us today, and we can provide guidance on how to deal with the claim.

Other Scam

Romance Scams

The internet is increasingly a good place to meet people, fall in love and even start relationships. According to a 2019 poll, a third of all US married couples met online and the number is growing. Unfortunately, the number of romance scams is increasing as well. In these scams, people do not just experience heartbreak, they can also lose their paychecks and their savings. 

Romance scams are associate with the notorious practice of “catfishing” or pretending to be someone else online to get data or money from other people. The typical romance scam scenario begins with someone receiving a message from someone else who is usually extremely attractive and outgoing. 

Their profile pictures are usually stock photos of people who look like Hollywood actors and models and they are usually engaging in activities associated with wealth, such as fancy dining, posing next to an expensive car, or on an exotic vacation. They will seem friendly and inquisitive and the person receiving this message is usually thrilled that such an attractive, friendly person would approach them. 

The conversation always turns to money. They will claim that, although they are wealthy, they need money right away for a fee to release their funds. They may say they need a medical procedure. The romance scammer may also encourage the person they are talking to to invest in bitcoin or may lead people to a crypto scam or a forex trading scam. 

Inevitably, the scammer runs away with the victim’s money. Although the fraudsters believe they can get away with these scams, fund recovery experts and authorities have strategies for tracking down catfishers.

Loan Scams

Loan scams are not the same as loan sharks, who offer real loans, but at very high rates of interest. Loan sharks will use dangerous, threatening, and often illegal means to get their money back. Instead, loan scams promise loans that they do not provide.

 These scammers may have a list of debtors and others in risky financial situations and will spam them with messages claiming that they can secure loans for them, regardless of their credit rating. They will ask for an upfront fee and claim that they will advocate for them in getting a loan. 

The scammers will then say when contacted, that the bank or other financial service would not grant a loan and they need more money to work on their behalf. A legitimate service does not ask for fees upfront but will take a percentage out of the loan when it is rewarded.

Benefits and Social Security Scams

Some of the cruelest forms of scams are those that target the most vulnerable in society. These include social security and benefits scams that rob people of their government checks. Scammers will cold call the elderly or will send emails pretending to be from the government. 

They will say that information needs to be verified and they need a social security number, a photo ID, and other information. The scammers will use this information to claim social security checks and other benefits.

Debt Collection Scams

Another scam that targets people in debt is a debt collection scam. Scammers will pretend to represent a debt collection agency and threaten to repossess items in the person’s home or their car unless they pay a certain amount. The scammers might have phished data from the target and found information about specific debts they have or they may refuse to disclose the identity of the creditor. Whether or not the victim recalls owing this money, they may send a payment to avoid having their property repossessed. 

Have You Been the Target of Fraud? Broker Complaint Registry Will Help

Contact Broker Complaint Registry experts if you need assistance with a complaint relating to scams.  We deal with a variety of issues, including data theft, forex scams, and crypto scams. Our team will refer you to experts who have vast experience dealing with regulators, banks, and law enforcement. We will provide advice and give you valuable guidance to help you resolve the issue.

Sweepstakes and Lottery Scams

If you have been told that you won a sweepstake or the lottery that you have not entered, it is likely that you have been targeted by sweepstakes or lottery scam. The scammers will send a message or email to someone and tell them they won a huge amount, but to claim it, they need to pay a fee or provide verification. 

Here are some tips to avoid any of these scams:

  • Always verify that a company or government office sent you communication before providing information
  • If a call sounds suspicious, ask for a number and offer to call them back
  • Do not be pressured to offer any information immediately without verifying it
  • Do not agree to take a conversation from a social media platform to Whatsapp
  • Do not send money to anyone you don’t know

If in spite of these tips, you have fallen victim to a scam, contact Broker Complaint Registry immediately.