Bizymoms
   Back to Bizymoms Home Page Search
 
Home Based Business Scams  
There are scams allover the world.
Scams have no restrictions.

Internet's Web of Scams

The Internet has made it extremely easy to distribute information to millions of people, including fraudulent business deals and email scams. Fraud and scams are lurking all over the Internet, waiting for innocent victims who will pay or give out their personal details for what they think might be a legitimate business deal. Being aware of what's true and what's not plays a large part in being a responsible citizen of the cyber world.

Home Based Business Scams
 
 Back to scams home page

What are Scams and frauds

What are Scams and frauds?

Scams are known as a way of making money dishonestly and tricking people to give their personal details to complete strangers for malicious purposes. There is no doubt that there are more than one person involved in the fraud, usually it's a group or a network of people that work internationally.

Scams are not limited to a particular country, they target anyone and from anywhere.

The is no record breaking scams as such since scams are being redesigned and mastered to fool people time and time again.

Scams are being promoted mostly through the use of the internet. There are other ways such as emails, letters, door to door and mostly recently, telephone calls.

Scammers are successful in making people believe that you are really trying to give people money and make them rich very quickly; of course there are a percentage of people who fall for these scams. But these scams first get the victim to send money before they can actually claim the money that is promised. The motive here is to get money from victims as insurance fee or legal fees before the entire loot of money is sent as promised. You will be surprised as quite a few people have fallen for this scam and even sold their belongings to and pay for documentation costs in return for a large sum of money.

Other scammers devise ways of getting peoples personal information and then using it to appropriate money. It could either be bank account details, ATM details and personal identification details that are obtained for ATM scams, Credit card scams and Money transfer scams.

We all know the warning signs of a scam, yet why most of us fall for these scams is because scammers find better ways to trick people or are people becoming really desperate to earn fast money. It is only a victim who falls prey to a scam that can answer that, but the ultimate truth is, we all want to know how to make money the easy way.

Here are a few tips to be aware and not fall for scams:-

- Never respond to buyers who are willing to pay you more than the actual cost of the product.

- Never respond to email that request you to verify your bank details.

- Never give anyone your credit card details or ATM PIN numbers

- Never believe all the testimonials that are posted, especially on most of those work at home websites.

- Check the contact details and the company details if you think you have received a scam email.

- Remember that fake websites are set up for Banks; therefore call the bank if you get an email requesting you to verify your password or PIN.

Remember scams can be dangerous because before you know it, you can get hooked on to it and may loose a lot of money or you may also be implicated in a scam and may not be able to find your way out of it.

Some of the types of scam you should watch out for are dating scams, ATM scams, identity theft scams, Phishing scams, Holiday scams, Nigerian scams, Pyramid scams, Charity scams and Credit card scams.

Frauds

Fraud can be defined as an intentional misrepresentation of the truth. Fraud is a deception of another party or person which causes that party or person to loose money.

Unlike scams fraud can be controlled by enforcing strict laws on those who are convicted of fraudulent acts.

Fraud is a criminal offence and also difficult to prove in court. Because the element of intention to commit fraud should be proven, perpetrators usually get away with a mild sentence as there is difficulty in proving the case.

Frauds are committed using insurance policies, bank cheques, bill payment, vending machines and the sale of goods.

Frauds are usually committed in businesses institutions by the staff as well as the clients who trade for a 'commission' or complicated money transactions which guarantee a commission to the executors. These people generally know the inside operations of the company and have access to confidential information.

Scams and frauds are very much the same and both are freely performed and carried out. But laws are very strict on frauds than scams because scammers usually get away with their crimes.
advertisement
Great start up business ideas
Commercial Photography
Prior to the discussion of the subject, it would be a very good idea to understand the true meaning of the term, ‘Commercial photography’. Commercial photography....

Children's Fitness Business
Fitness is one of the most important factors to live a healthy life. Because of this reason many parents tend to care about the fitness of their....

Becoming An Animal Behaviorist
Animal behavior consultants are professionals who are involved with the problems, needs and changing patterns of animal-owner....

Gymnastic Training Business
Gymnastic is an activity which is able to give a total body workout. These activities help to develop fitness that an individual needs for a healthy life....

Adult Day Care Business And Planning
Even as a teenager I loved to work. I got my first job when I was only fourteen working for the YMCA as a lifeguard, and later as a swim instructor. I especially loved working with the....

Conducting Lamaze Classes
Statistics from the World Health Organization reveal that 90 to 95 percent of the entire world's births are normal! If you are a stay at home mom, having given birth to your children normally and have studied Lamaze techniques....
Copyright © 2013 Bizymoms™. All rights reserved. Please view our Privacy Policy & Content Disclaimer
    Google