Posts Tagged cost trap
The National Fraud Intelligence Bureau has been informed recently of a supposed investment scam aiming at potential investors. The alleged victims are told that IKEA, the world recognised swedish company known for their modern architectural designs of both appliances and furnitures, are due to float shares on the stock market and therefore potential investors should purchase IPO shares (Initial Public Offering) before the floatation.
In response, actionfraud.police.uk and Ikea have themselves issued an article stating that this is false and there are no arrangements for Ikea to become publicly listed.
This described fraud comes under the umbrella of what is called ‘Boiler room Fraud.’ This is when you receive contact from someone offering investment opportunities which often leads the caller requesting a ‘seal the deal’ payment by requesting bank account details over the phone. The Financial Conduct Authority (FCA) report approximately 5000 people a year contact them on suspicion that they have been subjected to investment fraud. Unfortunately, around 10% would have already issued funds to the criminals. In addition, the FCA warns that out of these victims who would have transferred money to the criminals, the probability that they will be contacted in the future by the the same operation or have their details sold to other fraudsters would be increased.
We used www.financial-dictionary.thefreedictionary.com:
Floatation: Floating shares are shares of a public cooperation that are available for trading in the stock market
Initial Public Offering (IPO): The first price for which a company offers to sell stock in itself when it moves from private ownership to public trade.
We also acknowledge actionfraud.police.uk for their content published on the 13th of June: Beware of cold callers offering fraudulent sales of shares in IKEA.
Originating by all accounts in Latvia, Belarus and Afghanistan, the latest scam sending ripples across the phone network is a worldwide operation. The perpetrators send short, curiosity-provoking, incognito texts to individuals requesting that they call back any of an array of fee-charging +371 numbers. Read the rest of this entry »
This week brought fantastic news for victims of telephone fraud as regulator PhonepayPlus confronted huge offender RS Premium with a whopping great fine and a ban on operating premium rate numbers.
The scam, a relatively unoriginal ‘call-us-back-and-we’ll-keep-you-on-rather-pricy-hold’ manoeuvre, targeted househunters and jobseekers – indeed, the vulnerability of the victims was part of the reason that PhonepayPlus came down so hard upon the perpetrators. Adverts and emails containing details of non-existent vacancies or properties lured eager and unsuspecting individuals into calling these 070 numbers back and waiting patiently on premium-rate hold whilst their phone bills rocketed into hyperspace.
It’s hard to track down exactly which calls are part of a certain scam as so many different numbers are used by the ‘artists’ to carry out their schemes and help them blend into a haze of anonymity. However, there are plenty of you reporting remarkably similar-sounding scams on tellows, all with scores of 7 or above. Have a gander…
‘Amy Pearce’ has been tirelessly sending emails offering jobs at the fictitious ‘SB Millers’ and may ask you to call back on 07030808243. Hannahayleigh wasn’t going to be caught out in a hurry:
Received a message saying I’d got through some kind of recruitment screening process and offering me a job. Deleted it straight away as I haven’t been on the job market for several years! Googled the agency and surprise surprise, it seems to be a fake. These people are a waste of space.
User GiGi also had her wits about her when asked to call 07030808244 back:
I got an email from this person, recruiting me for her company. I called them against my better judgement and was kept waiting on the phone for at least 7 minutes. If nothing else, that’s simply rude and I also realised that I had to pay for every minute…In the end they didn’t have any jobs to offer. I examined the email more closely and discovered that it didn’t look really professional, like with a signature and everything.
…and ‘Scammer finder’ simply cuts to the chase with some stern words of warning:
DO NOT PHONE AND WARN YOUR MATES AND WHOEVER ELSE. YOU’LL GET RIPPED OFF!!!
Similar scams frequently pop up on tellows and seem to be an ongoing problem; see this example, 07053500874, reported by Jskr late in 2012:
Received email from Tony Render offering interview with the department manager, Edie Wilson and told to contact this number. Checked on line to find it is a cost scam resulting in large bills. Do not reply!
070 numbers have been in question for a long while, as their closeness in appearance to mobile numbers renders them prime fraud-fodder and they unfortunately seem to proliferate on Gumtree; see this warning about 07053528945 from user, er, ‘Warning’:
its a rent SCAM to get you to call premium numbers. you call a normal mobile no and he tells you to call his girlfriend, then says you got the number wrong, bla bla bla. SCAM
RS Premium were charged ₤120,000 for their misconduct and it seems that Ofcom may be reevaluating their decision re: 070 numbers.
Phone owners: 1, Scammers: 0. There is hope, boys and girls.
Unfortunately, the wonderfully useful website Gumtree does seem to attract the occasional scammer amongst the bona fide individuals and organisations that advertise there. Just keep your eyes open for 070 numbers and try not to give personal details away until you’ve established a reasonable level of trust. The website itself offers some solid advice about how to protect yourself against potential fraudsters.
Keep reporting any dodgy dealings on tellows and do your fellow users a favour!
Your tellows team
In today’s world, everything you could ever want or need can be found, bought and paid for on the internet, making it a playground for fraudsters. They’ll be as creative as they want when it comes to coaxing people into parting with their money. No time for guilt or remorse when you’re a scammer!
Today, we’ll present you with two online tricksters who’ve been at large on the world wide web and made maximum use of its advantages.
The first number 0019518883614 belongs to a certain “Mr. Smith”(this isn’t the creative part) and it comes from California, USA. Apparently, Mr. Smith would like to buy a car and would prefer to do it in the UK, for whatever reason. He favours the advertising site Gumtree to reach his victims.
You have to be careful here. If you want to sell some things on GUMTREE then you also can be a potential victim to this plot. Usually it hits those who want to sell something big like a car.
This number will send you a text containing the following email addresses and wants you to reply. You can just as easily send messages in Gumtree but of course that doesn’t fit with the plan.
Writing back means that he has your email address and step one of this two-step scam is achieved. Step two is convincing you to pay with PayPal.
If you answer his text, you’ll get to hear a longwinded story involving in-laws and presents and being out of town… meaning that the payment has to be done via PayPal. At this point, anyone can see that something doesn’t add up. If you Google the number, you’ll see that it’s from the USA, so why get a car from the UK? Making a payment via PayPal in these situations is not recommended at all – there is a long history of cases like this where people have been tricked out of their money.
Being vigilant is always recommended whilst on the internet and this is especially true when buying and selling. Our second number 01612127403 is from Manchester, UK. In this case, cash is the goal once again but the tactics are different. In one scam, they offer marketing services but once you’ve paid up, you won’t hear a dickybird from them…
I got a call from a man claiming he represents Online Platform Management Consulting. We talked a little while and I agreed to pay for online marketing. I proceed with the payment and tried to contact the same number back but it was no longer active.
Another technique they use is posing as Google, threatening to remove an address from their listing. Though this technique isn’t really that smart, it’s still fairly creative.
What scammers want is money and personal information. We’re all inclined to believe it would be hard to get hold of these things on the internet but it can be all too easy! Don’t let your guard down and always think twice before disclosing sensitive or important information.