lately we have been seeing many reports in our tellows community regarding fraudsters claiming to be computer tech support. These fraudsters used the most classic trick: they claimed to be from a well-known company such as Microsoft and told us that our computer had been infected or hacked. In order to fix the computer problem and prevent the virus from damaging the computer any further, they offered “assistance”. If we had agreed to this, they would give us some instructions we must follow. Usually, we would be asked to visit certain websites and enter our personal data there. Some fraudsters could even hack the computer and show a pop-up window to ensure us that our computer had indeed been infected by some viruses. In the end, they would either try to steal our personal bank data through the access we gave or charge us for the costs of fixing the non-existent computer issue. Continue reading →
Having a fax machine might be one of the most convenient things for us to send and receive business documents. But sometimes, we get loaded with the amount of junk faxes we never wish to receive. Since we have already seen many reports from our tellows friends about the bothering acts, we think it’s important to give more information of how junk faxes work and what we can do to stop receiving them.
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 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.
Have you received a call of this exact scenario or of a similar nature? We would like to hear from you. Let us know by commenting below OR by searching the phone number on tellows that was used to phone you and leave a comment there to assist others in their enquiry to a suspicious phone call!
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.
With more than a thousand complaints registered to Which every week for ‘nuisance’ calls, fines for companies breaching TPS’s and Ofcom’s rules reaching fines up to £2m, how does this industry still remain afloat? Below we have listed a few points that is the hidden driving force, not always appreciated by a frustrated recipient understandably. Knowing what drives this industry of world-wide communications is knowing that there isn’t an over-night solution. But there are solutions! Keep up with our blog to find out what they are. Moreover you can always look up numbers on tellows. By doing so, you can inform yourself about numbers and protect yourself. If you received an unwanted call, do not forget to rate the numbers on tellows, to protect other users.
Reports from people receiving calls from possible scammers claiming to be from a Sky contact center still continue on despite the recent conviction for conspiracy of 14 people who used the same trick, as sentenced by the Swansea Crown Court.
The latest report came from the victim who was advised to wait for a replacement viewing card to be inserted in her Sky box. The next scam caller told her that she was also entitled for a refund for the overcharging of Sky. After the victim gave her bank details to the caller, she then discovered that large sums of money had been withdrawn from her account.
Ratan Kumar, a 41-year old Indian villager came to the BBC Delhi office last month to claim his prize in a “BBC lottery” worth millions of rupees, only to know that he was scammed.
Ratan said he got a text message two years ago saying that he won the BBC’s national lottery for 20 or 30 million rupees (£194,000-£292,000). Unemployed, Ratan fell for it, communicated with the scammers until November last year, and sent his personal details.
The perpetrator presented himself to Ratan as the chancellor of BBC. “He promised me a large sum of money but said I would have to first send 12,000 rupees ($191; £117) so that he can transfer the money into an RBI (Indian bank) account, ” Ratan told the BBC office.
Diamonds are not just any girl’s bestfriend – it is also a very attractive investment alternative. Annual return can range from 2.5% to 10%, depending on the color.
However, unlike gold and silver, or other investments where prices are reported on a stock market, diamonds are not traded on a public exchange but negotiated privately. This makes it harder to know the real value of the diamond, thus making it susceptible to abuse. The diamond trading industry is also unregulated – brokers are not required to be registered with a certain government authority.
A BBC news report recently warned older people who are the targets of this new form of investment scam on diamond trading. About 250 reports were received last year by the City of London Police.
The report from the Centre for Social Justice (CSJ) showed that around 3.9m British families do not have enough savings to cover their rent or mortgage for more than a month.
As CSJ Director Christian Guy said:
Some of the poorest people in Britain are cut off from mainstream banking and have no choice now but to turn to loan sharks and high-cost lenders.
Worse than loan sharks are online payday scammers. They take advantage of the financial situation of people. They ask for a fee promising to release the loan afterwards, but in the end, you get to pay a fee for nothing.
Investing in new technology, developing smart ideas, innovating, outsourcing, call centers – the buzzwords of our business-minded con artists. They’re professionals and they know their stuff. 7 in 10 receive nuisance calls, texts and emails everyday, yet these large-scale scam operators are never penalized because apparently they are just “annoying” and not yet causing “substantial distress” to people.
You, as the target market of these fraudsters, should know better than their old tricks. Update yourself with these words of advice:
Don’t give any personal information to strangers or to businesses – remember, they should already know your details!
Ignore employment agencies asking for payment in advance
Check your bank and credit card statements regularly and let your bank know immediately if there are any entries you don’t recognise
Often, you can’t get lost money back, particularly if you have handed over cash. But you have more protection if you paid by credit card or a debit card.
For our weekly top 3, the approach of our scammers is always a hard sell. Strategies are aggressive and their tactics include cold calls and unsolicited pitches – as if they are really selling some products or services BUT actually no. They are disguised as telemarketers who just want to get your bank details or other personal info. Worse huh!
Whether it’s an investment opportunity or a big event, you name it, our scammers will be there to catch your attention and ruin your noble plans.
Telegraph has identified the following top 10 scams to watch out for this 2014:
1. Rugby World Cup 2015
Selling fake Rugby World Cup 2015 tickets would most likely be the newest business of scammers which could start early this year. So please, if you are really serious about watching the games, buy your tickets only from the official Rugby World Cup 2015 website – rugbyworldcup.com and beware of agents offering cheaper/even same price ticket reservations where you can be a victim of fraud, guarantees and non-delivery.