Fraud Awareness
Empower yourself with a comprehensive guide to identify, prevent, and combat scams, ensuring your personal and financial security.
Fraud Awareness
Empower yourself with a comprehensive guide to identify, prevent, and combat scams, ensuring your personal and financial security.
We prioritize the protection of our customers from fraud and have implemented various measures to prevent it. However, it’s essential that our customers also take proactive steps to safeguard themselves from scams. We recommend educating yourself on the common scams prevalent in the market, so you can recognize and avoid them. By being informed, you can better protect yourself from becoming a victim of a scam.
Below are some of the common types of fraud but always remain vigilant as fraudsters are always looking at new ways to scam victims. Never send money to a stranger.
A lottery scam is a type of consumer victim fraud in which scammers deceive individuals into believing they have won a lottery or sweepstakes, but must pay a fee or provide personal information to claim the prize. The scammers will often request payment via wire transfer, gift cards, or other untraceable methods. Once the scammers receive the payment or personal information, they disappear, and the victim is left with no prize and may also experience financial loss or identity theft.
Protect Yourself: Ask yourself: how could you have won the lottery if you have not played. Why would the lottery payer want payment first to release the funds, could they not just deduct the amount from the final payment?
419 scams, also known as advance-fee scams, are a type of fraud in which the scammer contacts a victim and promises them a large sum of money in exchange for a small upfront payment or personal information. These scams are commonly conducted via email or letter, hence the name “419 emails” or “419 letters.”
In a typical 419 scam, the scammer will claim to be a wealthy individual, a government official, or a businessperson who needs help moving a large sum of money out of their country. They will promise the victim a percentage of the money in exchange for their assistance. However, before the money can be transferred, the victim will be asked to provide personal information or make a payment to cover various “fees” or “taxes.” In reality, there is no money to transfer, and the victim will end up losing their upfront payment and possibly their personal information as well. 419 scams can be very convincing and often target vulnerable individuals, such as the elderly or those in financial distress.
Protect Yourself: It’s important to be cautious when receiving unsolicited emails or letters that promise large sums of money and to never provide personal information or make upfront payments to unknown individuals or organizations. Don’t respond to any emails or letters like this. Delete the email/ destroy the letter straight away. Never travel anywhere if offered, even if it isn’t far to go. You won’t get any money and you’re putting yourself in danger. Never give out your personal details.
A rental scam is a fraudulent scheme in which a scammer poses as a landlord or property manager and advertises a rental property that they do not actually own or have the authority to rent. The scammer will often use online rental listings or classified ads to lure in potential renters.
Once a victim expresses interest in the property, the scammer will typically ask for personal information or a deposit to hold the rental. In some cases, they may even offer to give the victim a tour of the property, using a fake set of keys or access to an empty apartment or house.
Protect Yourself: To avoid falling victim to a rental scam, it’s important to be cautious when responding to rental listings, especially those that seem too good to be true. Always verify that the property is legitimate and the person advertising it is the actual landlord or property manager. Do not provide personal information or make payments without thoroughly researching the property and the individual renting it out.
A romance scam is a type of fraud in which a scammer creates a fake online profile on a dating website or social media platform and uses it to establish a relationship with someone in order to gain their trust and then exploit it for financial gain. The scammer will typically use a fake name and photos, and they may also fabricate details about their life, such as their job or personal history.
Once the scammer has built a relationship with their victim, they will typically begin to ask for money or other forms of financial assistance, often citing personal emergencies or unexpected expenses. They may also ask for personal information, such as bank account details or social security numbers, in order to steal the victim’s identity.
In some cases, the scammer may carry on the relationship for an extended period of time, often for months or even years, in order to gain the victim’s trust and extract as much money as possible. Victims of romance scams can lose thousands or even tens of thousands of dollars, as well as suffer emotional distress and embarrassment.
Protect Yourself: To avoid falling victim to a romance scam, it’s important to be cautious when communicating with individuals online, especially those who seem too good to be true. Be wary of individuals who ask for money or personal information, and do not send money or provide personal information to someone you have not met. It’s also a good idea to conduct online searches of the individual’s name and photos to check for signs of fraud or a history of scamming.
A money flipping scam is a type of fraudulent scheme that typically involves a person promising to multiply or “flip” a small amount of money into a larger sum for the victim.
In this scam, the fraudster will contact a victim through social media, email, or text message and offer them an opportunity to invest a small amount of money with the promise of a huge return on investment. They may use tactics such as showing off expensive cars, designer clothes, or stacks of cash to create the illusion of wealth and success.
Once the victim has sent the money, the scammer will disappear and the victim will be left with nothing. The scammer may also try to get more money from the victim by claiming that there were unexpected expenses or taxes that need to be paid in order to complete the transaction.
Protect Yourself: In reality, the “flipping” process is just a cover for the scammer to steal money from unsuspecting victims. These scams are illegal and can result in serious financial loss and legal consequences for the victims. It’s important to be cautious and skeptical of any offers that promise huge returns for small investments.
Identity theft is a type of fraud in which a person’s personal information is stolen and used to commit financial crimes, such as money transfer fraud. In money transfer fraud, a scammer may use a victim’s stolen identity to transfer money from the victim’s account to their own account, or to a third party’s account, without the victim’s knowledge or consent.
Protect Yourself: Customers can protect themselves by keeping personal information secure, monitoring financial accounts, using strong passwords, being cautious of phishing scams, and using trusted money transfer services.
Phishing scams are a type of fraudulent scheme that are typically carried out through email, text message, or phone calls in which a scammer tries to trick the victim into revealing sensitive information, such as passwords, credit card numbers, or other personal information.
Phishing scams often involve the scammer posing as a trustworthy entity, such as a bank, online retailer, or social media platform, and sending a message that appears to be from that entity. The message will typically include a request for the victim to click on a link or download an attachment, which will lead them to a fake website or login page that looks like the real thing.
Once the victim enters their information, the scammer will have access to it and can use it for fraudulent activities such as making unauthorized purchases or stealing the victim’s identity.
Protect Yourself: To protect yourself from phishing scams, you should be cautious when receiving messages from unknown or suspicious sources, avoid clicking on links or downloading attachments from these messages, and verify the legitimacy of any requests for personal information by contacting the company directly. Additionally, you should use strong and unique passwords for all of your online accounts and enable two-factor authentication whenever possible to provide an extra layer of security.
An SMS scam is a type of fraudulent scheme that is carried out through text messages sent to a victim’s mobile phone. SMS scams typically involve a fraudster posing as a legitimate company or organization, such as a bank, online retailer, or government agency, and sending a text message that appears to be from that entity.
The text message may include a request for the victim to click on a link or provide personal information such as bank account or credit card numbers. In some cases, the scammer may use scare tactics to try to convince the victim to take immediate action, such as threatening to freeze the victim’s bank account or credit card.
Once the victim provides their personal information or clicks on the link, the scammer can use the information to steal money or commit identity theft.
Protect Yourself: To protect yourself from SMS scams, you should be cautious when receiving text messages from unknown or suspicious sources, avoid clicking on links or providing personal information in response to these messages, and verify the legitimacy of any requests for personal information by contacting the company or organization directly using a trusted phone number or website. Additionally, you should use strong and unique passwords for all of your online accounts and enable two-factor authentication whenever possible to provide an extra layer of security.
An immigration scam is a type of fraudulent scheme that preys on individuals seeking immigration services or assistance. Immigration scams can take many forms, but typically involve scammers posing as immigration attorneys or consultants and promising to provide immigration services or assistance for a fee.
Scammers may use various tactics to trick victims into paying them, including falsely claiming to have special connections with government agencies or promising faster processing times for visas or green cards. In some cases, scammers may also offer to provide fraudulent documentation or make false promises about eligibility for certain immigration benefits.
Protect Yourself: Immigration scams can have serious consequences, including loss of money, denial of immigration benefits, and even deportation. To protect yourself from immigration scams, it’s important to be cautious when seeking immigration services or assistance and to research any individuals.
A military personnel scam is a type of fraudulent scheme that specifically targets members of the military, veterans, and their families. Military scams can take many forms, but typically involve scammers posing as military personnel or organizations and using false pretences to solicit money or personal information.
Some common types of military scams include romance scams, in which scammers use fake online profiles to develop relationships with military members or veterans and then request money or personal information, and charity scams, in which scammers pose as legitimate military charities and request donations for fake causes.
Other military scams may involve fraudulent investment opportunities or fake job offers that require payment of fees or personal information in order to participate.
Military scams can have serious consequences, including loss of money, identity theft, and emotional trauma.
Protect Yourself: To protect yourself from military scams, it’s important to be cautious when receiving unsolicited requests for money or personal information, especially if they come from individuals claiming to be military personnel or affiliated with military organizations. It’s also recommended to research any charities or investment opportunities before providing any payment or personal information, and to report any suspected military scams to the appropriate authorities.
An extortion scam is a type of fraudulent scheme where the perpetrator uses intimidation or threats to extract money or other valuables from the victim. The scammer typically sends an email or makes a phone call to the victim, claiming to have compromising or embarrassing information about them.
The scammer may use a variety of tactics to convince the victim that they are in possession of damaging information, such as claiming to have video footage of them engaging in illegal or immoral activities or threatening to release personal information that could damage the victim’s reputation or personal relationships.
The scammer then demands payment in exchange for keeping the information confidential or not releasing it. The demand for payment is often accompanied by a threat of serious consequences if the victim does not comply, such as physical harm, legal action, or public exposure.
It is important to note that these threats are almost always baseless, and the scammer is unlikely to have any actual damaging information. The goal of the scammer is simply to scare the victim into giving them money or other valuables.
Protect Yourself: If you receive an extortion scam, it’s important to remember that you are not alone, and there are steps you can take to protect yourself. Don’t respond to the scammer or engage with them in any way. Report the incident to the relevant authorities, such as the police or your local fraud prevention agency (action fraud), and consider seeking the advice of a professional counsellor or therapist to help you cope with any emotional distress.
An internet purchase scam is a fraudulent scheme in which a perpetrator uses the internet to deceive individuals or businesses into making a payment for goods or services that do not exist or are not as advertised.
The typical scenario of an internet purchase scam involves the perpetrator creating a fake website or online marketplace that appears to offer genuine products or services at very attractive prices. The scammer may use fake testimonials, reviews, and professional-looking graphics to create the illusion of legitimacy.
The victim is then enticed to make a purchase by making a payment using a credit card, bank transfer, or other online payment method. Once the payment is made, the scammer disappears without delivering the promised goods or services.
Internet purchase scams can take many forms, including fake online stores, fraudulent auction sites, and phishing scams. They can target anyone who uses the internet to make purchases, including individuals, small businesses, and large corporations.
Protect yourself: To avoid internet purchase scams, it is essential to take precautions such as checking the legitimacy of the website, reading reviews from independent sources, and being cautious when making payments online. If a deal seems too good to be true, it probably is, and it’s best to err on the side of caution and not proceed with the purchase. If you believe you have been a victim of an internet purchase scam, contact your financial institution and the relevant authorities immediately to report the incident.
A fraudulent cheque scam, also known as a check fraud or cheque kiting, is a type of financial scam in which a fraudster creates a fake cheque or alters a legitimate one and then presents it to a bank or individual in exchange for goods or services. Once the cheque is deposited, the fraudster will attempt to withdraw the funds before the bank or individual realizes the cheque is fake or altered.
Protect Yourself: To protect yourself from fraudulent cheque scams, be cautious and take several measures. You should verify unexpected cheques, wait for the cheque to clear, be careful with personal information, keep banking information secure, and contact the authorities if you suspect fraud.
An employment scam is a type of fraud where criminals deceive job seekers by offering fake job opportunities with the intent to obtain personal information or money. The scammers use a variety of tactics to make their job offers seem legitimate and attractive to job seekers.
For example, they may create fake job postings on popular job search websites or social media platforms, or they may send unsolicited emails or text messages offering job opportunities. These postings or messages often promise high salaries or other attractive benefits, such as flexible work hours or work from home options.
Once a job seeker shows interest, the scammer will often request personal information, such as a social security number or banking details, which they then use for identity theft or to access the victim’s financial accounts. In some cases, the scammer may also ask the job seeker to pay upfront fees for job applications or training materials.
Protect Yourself: To avoid employment scams, it’s important to be cautious and do your research before providing any personal information or paying any fees. Research the company, be cautious of unsolicited job offers, Do not provide personal information upfront & be wary of job offers that require upfront payments.
Grandparent fraud is a type of scam where criminals pose as a grandchild in distress and contact their grandparents seeking financial assistance. The fraudsters typically call or message their targets and claim to be in trouble, often saying they have been in an accident or arrested and need money urgently to pay for expenses.
The scammers will then ask their grandparents to send money immediately, often through wire transfers or gift cards, and will urge them to keep the situation a secret. They may also ask for personal information, such as a social security number, to steal the grandparent’s identity.
Protect Yourself: To avoid falling victim to grandparent fraud, it’s important to be cautious and confirm the identity of the person contacting you before sending any money or personal information. Always, confirm the identity of the caller & don’t rush into anything. Scammers often pressure their victims to act quickly, but take the time to verify the situation and consider your options. Be wary of wire transfers and gift cards & Keep communication open. Make sure to keep in contact with your grandchildren and their parents, and establish a code word or phrase that only you and your family members know to use in emergency situations.
Overpayment scam is a type of fraud where a scammer pays the victim with a fraudulent or stolen check or money order that exceeds the amount owed. The scammer then contacts the victim, claiming that the overpayment was a mistake and requests that the victim return the excess amount. The victim is asked to return the overpayment via wire transfer, online payment, or another method before the original payment is cleared.
In reality, the original payment is fraudulent and will eventually bounce, leaving the victim with a loss equal to the full amount of the payment, including the excess amount returned to the scammer. In some cases, the scammer may also obtain personal or financial information from the victim in the process, which can be used for further fraudulent activities.
Overpayment scams can occur in various contexts, including online marketplace transactions, rental or real estate agreements, and freelance or contract work.
Protect Yourself: To avoid falling victim to an overpayment scam, it’s important to verify the legitimacy of any payment received and to be cautious when asked to return an overpayment, especially if it involves using an untraceable payment method. It’s also advisable to report any suspicious activity to the relevant authorities.
Charity scams are a type of fraud where scammers pose as representatives of legitimate charitable organizations to solicit donations from unsuspecting individuals. These scammers may use a variety of tactics to trick their victims, such as impersonating well-known charities, using similar-sounding names, or creating fake websites and social media pages.
The scammers may contact their victims via phone, email, social media, or in-person solicitation, and may use high-pressure or emotional appeals to persuade them to donate. Once the victim has made a donation, the scammers may disappear without providing any proof of their charitable activities or providing a tax receipt.
Charity scams can be especially prevalent after natural disasters or other high-profile events that prompt people to donate to relief efforts.
Protect Yourself: To avoid falling victim to a charity scam, it’s important to research any charity before making a donation, including verifying their registration status and reviewing their financial statements. Legitimate charities will have publicly available information about their activities and financial reporting. It’s also advisable to be cautious of unsolicited donation requests and to avoid providing personal or financial information to unknown individuals or organizations.
A guaranteed loan scam is a type of fraud where scammers offer guaranteed loans to people who are struggling to secure financing due to bad credit or other financial difficulties. These scammers typically target vulnerable individuals who are in desperate need of funds, such as those with low income, limited credit history, or who are facing financial challenges due to a recent life event.
The scammers may offer the loan through unsolicited phone calls, emails, or online advertisements, and may require the victim to pay an upfront fee in order to receive the loan. The scammer may promise that the fee will be refunded or that it’s necessary for loan processing fees, but in reality, there is no loan and the victim never receives any money.
Once the victim has paid the upfront fee, the scammer may continue to request additional payments for various reasons, such as insurance or taxes. The scammer may also request personal or financial information from the victim, which can be used for further fraudulent activities.
Protect Yourself: To avoid falling victim to a guaranteed loan scam, it’s important to be cautious of unsolicited loan offers and to verify the legitimacy of any lender before providing personal or financial information. Legitimate lenders will not require upfront fees, and will provide clear terms and conditions for their loans. It’s also advisable to research any lender before accepting a loan offer, including checking for their registration status and reviews from other borrowers.
A healthcare scam is a type of fraud that involves illegal activities related to the healthcare industry. These scams can involve a wide range of activities, including insurance fraud, Medicare or Medicaid fraud, prescription drug fraud, and medical identity theft.
One common type of healthcare scam involves fraudulent billing practices by healthcare providers or facilities. This can include billing for services that were not actually provided, double billing for the same service, or charging inflated prices for medical procedures or equipment.
Another type of healthcare scam involves prescription drug fraud, where scammers may pose as legitimate pharmacies or doctors and offer prescription drugs online or through unsolicited phone calls or emails. In some cases, the drugs may be counterfeit or dangerous, or may not even exist at all.
Another type of healthcare scam involves prescription drug fraud, where scammers may pose as legitimate pharmacies or doctors and offer prescription drugs online or through unsolicited phone calls or emails. In some cases, the drugs may be counterfeit or dangerous, or may not even exist at all.
Protect Yourself: To avoid falling victim to a healthcare scam, it’s important to be cautious of unsolicited offers or requests related to healthcare services or products, especially if they involve personal or financial information. It’s also advisable to review medical bills and statements carefully to ensure that all charges are accurate.
A telemarketing scam is a type of fraud that occurs over the phone. Scammers use telemarketing calls to try and trick people into giving them money, personal information, or access to their computers.
Telemarketing scams can take many forms, but they often involve the scammer posing as a legitimate business or organization. They may claim to be calling from a well-known company or charity, or offer to sell a product or service at a discounted price.
Once they have the victim’s attention, the scammer will use various tactics to try and persuade them to hand over money or personal information. For example, they may use high-pressure sales tactics or offer a once-in-a-lifetime deal that requires immediate payment. They may also ask the victim to provide sensitive personal information, such as their Social Security number or credit card details, under the guise of verifying their identity or setting up an account.
In some cases, telemarketing scammers may also attempt to gain remote access to the victim’s computer under the guise of providing technical support. They may claim that the victim’s computer is infected with a virus or malware and offer to fix the problem for a fee. Once they have access to the victim’s computer, they can install malicious software or steal sensitive information.
Protect Yourself: To avoid falling victim to a telemarketing scam, it’s important to be wary of unsolicited phone calls and to never give out personal information or payment details over the phone unless you are certain that the person on the other end is legitimate. It’s also a good idea to research any company or charity that contacts you before making any kind of payment or donation.
