Financial scams

The challenge becomes knowing if new and existing customers are truly legitimate, without creating a painful user experience. Through cloud-based intelligence, backed by AI and machine learning, Trusteer provides a holistic platform to help you welcome in new and existing customers, while protecting against malicious users.

Financial scams

Citizen Services Financial Scams Recently many individuals and businesses have been fascinated by the Advance Fee Fraud scam that originates from several countries in Africa and particularly from Nigerian, Liberians and Sierra Leonians.

Some Ghanaians have also been involved. In order to prevent yourself from becoming a victim of this scam, please look over the following information: A large number of victims are enticed into believing they have been singled out from the masses to share in multi-million dollar windfall profits for doing absolutely nothing.

Counterfeit prescription drugs A scam is a means of getting money by deception or in an illicit way with a fake identity or documents.
Harshad Mehta Case With the recent financial turmoil, people have been looking for new ways to invest and the scammers have played along, inventing ever more creative schemes to get your money and keep it.
Learn about the most common financial frauds and scams targeting seniors. Fraudsters are turning to more sophisticated methods of scamming people and businesses out of money, with businesses increasingly a target.

In almost every case there is a sense of urgency; The victim is enticed to travel to Ghana or a nearby country; There are many forged official looking documents; Most of the correspondence is handled by fax or through the mail; Blank letterheads and invoices are requested from the victim along with the banking particulars; Any number of fees are requested for processing the transaction with each fee purported to be the last required; The confidential nature of the transaction is emphasized; There are usually claims of strong ties to local government officials; A Ghanaian residing in the U.

The most common forms of these fraudulent business proposals fall into seven main categories: Disbursement of money from wills Contract fraud C.

Financial scams

Initially, the intended victim is instructed to provide company letterheads and pro forma invoicing that will be used to show completion of the contract. The victim is told that the completed contracts will be submitted for approval to the Central Bank or any other Commercial or Regional bank in the country where he is located.

Upon approval, the funds will be remitted to an account supplied by the intended victim. The goal of the criminal is to delude the target into thinking that he is being drawn into a very lucrative, albeit questionable, arrangement.

The intended victim must be reassured and confident of the potential success of the deal. He will become the primary supporter of the scheme and willingly contribute a large amount of money when the deal is threatened.

The letter, while appearing transparent and even ridiculous to most, unfortunately is growing in its effectiveness. It sets the stage and is the opening round of a two-layered scheme or scheme within a scheme.

The fraudster will eventually reach someone who, while skeptical, desperately wants the deal to be genuine.

Victims are often convinced of the authenticity of Advance Fee Fraud schemes by the forged or false documents bearing apparently official government letterhead, seals, as well as false letters of credit, payment schedules and bank drafts. Indications are that Advance Fee Fraud in West Africa grosses hundreds of millions of dollars annually and the losses are continuing to escalate.

In all likelihood, there are victims who do not report their losses to authorities due to either fear or embarrassment. If you have already lost funds or feel you may currently be involved in the above described scheme, please contact your local Secret Service field office.Scams and Frauds.

Learn how to protect yourself from and respond to scams and frauds.

Digital growth powered by transparent identity trust

Common Scams and Frauds. Find information on common scams . Detect and prevent cybercrime fraud with integrated advanced fraud prevention from IBM Security. Find articles on money management from AARP.

Search form

Read the latest money advice, social security, retirement and financial tips, news and more. Investment scams prey on your hope to earn high returns on a regular basis, without financial risk. Report Investment Scams Report investment scams, if you have been a victim. Reverse mortgage scams are engineered by unscrupulous professionals in a multitude of real estate, financial services, and related companies to steal the equity from the property of unsuspecting.

The best way to detect and avoid frauds and scams is to get to know the tactics scam artists use. Be alert for warning signs of fraud. The FCNB is here to help.

Top 10 Senior Financial Scams | NCOA