The FBI is charged with enforcing U.S. laws regarding fraud and punishing those who violate regulations in attempts to scam our nation’s citizens. There are many types of plots to defraud Americans and engage in financial crimes. The following are the most common fraud schemes per the FBI.
Telemarketing Fraud
Typical schemes: When you answer the phone from an unknown caller, you open yourself up to telemarketing fraud that can put you in the debt of unscrupulous companies. Many times, you’ll hear promises that you must act now to take advantage of an incredible offer or that you’ve won a free gift. Other scams will tell you that you must send money or provide a credit card number in order to secure your prize. Any caller who applies pressure or asks for financial information is most likely involved in telemarketing fraud.
How to avoid: The best way to avoid this type of scam is to hang up the phone, even if it seems impolite. Keep in mind that it’s quite difficult to get your money returned if you’ve fallen victim of telemarketer fraud, so you should take precautions when you receive an unsolicited call. You should never purchase a product or service from a company that you’re not familiar with and avoid those callers that won’t answer questions about their business.
Identity Theft
Telltale signs: When someone else puts themselves in your shoes and holds themselves out as you in order to conduct fraudulent transactions, identity fraud is involved. Criminals can obtain the personal information they need to take on your identity in a variety of ways, including theft, sorting through trash or hacking into your credit card information. The most difficult aspect of this type of fraud is that you may be unaware that your information is being compromised.
Keep yourself safe: The best way to avoid being a victim to one of the most common fraud schemes is to properly maintain your documents. Don’t throw away receipts, credit card statements or financial records without shredding or otherwise destroying them first. Monitor your bank statements regularly to check for any unauthorized transactions or activity.
Pyramid Schemes
Know what to look for: These schemes seize upon newer victims in order pay off participants who became involved in the fraud activity earlier on. Those who actually receive funds are given legitimacy because they’re actually receiving funds, and therefore encouraged to recruit others. Many of these scams involve investment in a company, especially real estate or stock market brokerages.
Safeguard your interests: Always be cautious when offered an opportunity to invest your hard earned cash in syndicates or franchises that require you to recruit others to become involved. Independently verify any claims made by those who approach you to invest money. As one of the most common fraud schemes, perpetrators of pyramid plots often prey upon those who trust them. Be skeptical and be wary of high pressure tactics without thoroughly researching them.
Veriti Consulting LLC provides certified fraud examination services across the U.S. Learn more about our fraud investigation services by calling 855.232.4410 or contact us via email