Are there times you get to some website and shake your head in disapproval after getting a business offer? Have you fallen for online lies and left wondering how you couldn’t notice the conmen’s captivating language?
This article will show and explain to you the most common online frauds that you can fall for despite the intensity of your wits.
Online fraud is a widespread case because consumers often believe what they read, whether legit or not. We will tackle some of those seven most common online frauds that consumers cannot get past them without being hooked. Let’s see.
Fraud is a criminal offense that a consumer falls for and is lied to about a purchase or a business opportunity, and they end up losing money.
Many cases are a result of online fraud like deception and conmen that sound valid when read. You can check the FATF grey countries list to know the countries that are considered a safe haven for online scams and money laundering.
The following are examples of seven major cases involving fraud.
1. Online scams that you will get an employment
Employment scam is the most common type of fraud that makes you stay glued to the screen, wondering about the payment. Everybody that is going through a financial crisis is bound to fall into this deception.
The liar will ask for some fee so that you get an appointment for an interview. Because of desperation, you will willingly send the money after they block you and delete the number or evidence.
You don’t need to be smart as a consumer to evade this type of fraud. It is the most convenient way to get employment. Whether you are a college graduate or still figuring life, you need money.
Most sites have been considered a full predator zone with many scammers that have rendered many people hopeless to believe in blogs due to fraud. It is not easy to take these criminals to court, making it an easy pass for cheating.
2. Collection of tax fraud
A survey that has been conducted has comprehensive statistics that scammers are cashing in a huge percentage of cash in fraud of collecting tax.
When the tax season begins, most people are not hesitant in consulting the best people to file their returns. They head to the internet and pay scammers the tax and fall for the deception.
Whether you are wise or not, waiting for the last minute to pay your taxes can make you seek online services and eventually fall for the fraud.
The scammers are very good at this, where they threaten to arrest you or get your property taken for compensation. They ask for the money to be sent into their debit cards or gift cards, and you end up getting conned.
3. Online gifting like lottery wins
Lottery fraud is a prevalent scam where the scammer calls and demands a small payment to enjoy your money. You are lured into this scam and end up believing in them.
But come to think about it, who wouldn’t want such money like winning the lottery? The thought of getting such an amount of money for free is ecstatic, Right?
Many scammers have become so abundant in this because many youths are always on the internet. Research has shown that most people, approximately 60 percent have fallen into this trap, and 16 percent lost a lot of money.
4. An exchange of fake check for cash
A fake check is revoked after some time. Bankers will not realize that they are handed a phony check until the system notices.
The online scammer will send the check to an online user, after which they will demand cash. Unfortunately, the person will be willing to deposit fully, and eventually, the verification is rendered null.
The scammer enjoys the benefits, and the online user, however smart they might be, won’t recover the cash.
5. Phony technology sites
These are electronic support sites that come at the ad part, assuring the user of an electronic that they have a virus and need debugging. They ask for some cash in exchange for the fake service.
The user falls for the trap because they imagine their expensive machine gets wasted. Several people have fallen for this trap by the scammers.
6. Online trading
Online scammers are smart people, too, but in deception. They will hack some crucial sites like amazon or create similar trading sites.
Online fraudsters will mark the prices of items and promise free transportation if you make an order. You will conveniently pay the money, but they fail to deliver the item.
The scammers will claim not to have received any cash and apologize for not having an online connection like missed messages and calls.
They can also use the wrong check to compensate you. Adding the cherry on top, they will claim that they have sent extra cash and send them money. Due to your good morals, you fall for the trap.
7. Online scams as a result of phishing
This is a type of scam that is not common because they lie online by pretending to be a representative of an institution. They ask for very vital information, including a password to your debit card. You end up exposing all your credentials, and they withdraw all the cash.
However, this type of scam hasn’t been successful, and the percentage that falls for this cybercrime loses a hefty lump sum of money.
You don’t need to be a smart consumer to evade this online fraud because they sound so legitimate. Visit Instant loan for more tips on how to prevent online frauds they also cover illegal money lending.
The bottom line: Online frauds consumers fall for
Fraud is a common type of crime that has left a lot of people grieving due to losses. You need to be careful especially if you need a loan.
The above points are the most common types of fraud cases to avoid when you master them. You don’t need to be smart to escape the wrath that comes with online scammers.
A lot of people are on the net act blindly, and they become victims of these cybercrimes. The only legit way of avoiding fraudsters is by considering the legitimate sites to transact money.
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I am Adeyemi Adetilewa, a media consultant, entrepreneur, husband, and father. Founder and Editor-In-Chief of Ideas Plus Business Magazine, online business resources for entrepreneurs. I help brands share unique and impactful stories through the use of public relations, advertising, and online marketing. My work has been featured on the Huffington Post, Thrive Global, Addicted2Success, Hackernoon, The Good Men Project, and other publications.