In these difficult economic times, it is easy to let our guard down and accept for the moment that an unsolicited offer promising easy wealth at little risk may be the answer to our daily prayers. However, the preponderance of scams in the marketplace suggests that the latest get-rich scheme has only the swindler in mind when it comes to filling his wallet with your content of yours.
None of us ever expects to be the victim of a cleverly designed con. That kind of thing is reserved for the movie theater that “cons” us out of money for overpriced tickets and popcorn. Department of Justice studies also points out that those of us with either a little or a lot of education are also the ones that are most often defrauded. We all must be ever vigilant and alert to fend off these thieves. Healthy skepticism is a must if we are to protect ourselves from the criminal element in our society and the scams they promote.
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The Internet has been the great facilitator of our age, enabling online shopping and commerce to flow, while providing additional opportunities to earn and work from the convenience of our own homes. Trust is often too easily given where anonymity is the name of the game and business partners never have to reveal they're true identities.
While much has been done to police the Internet for commercial and investment fraud, the long arm of the law still has difficulty reaching across borders to stop a crook. One must remember that a “.com” address does not mean that they are located in the United States and therefore subject to our laws. Many of the online scams today take advantage of this geographical conundrum.
The latest case in point is the email or ad that entices your response, only to load a “malware” robot on your PC. You are suddenly informed that your computer is loaded with many ferocious viruses. Lists of horribly sounding worms are presented. The robot freezes your PC’s operating system and demands that you pay for their service online to receive the “PIN” that will make everything work again. The graphics appear convincing, but spelling or grammar errors suggest otherwise. A visit to your local “Geek” will clear up the problem. However, the crook is in Russia or Nigeria, free to approach his next “mark”.
Forex scams are another problem area where genuine offshore service providers abound, but where swindlers can roam about freely, touting their outrageous offers. The cons here revolve around unscrupulous brokers that attract your money and then disappear, or fund managers that promise incredible returns, but who also depart once they have your good funds wired to their offshore account. Lastly, are the purveyors of the latest forex trading software that will release trading robots that will make oodles of money for you while you sleep. What could be easier than that?
The Commodity Futures Trading Commission, or CFTC, has managed to return $476 million to 26,000 defrauded forex customers over the past decade. We can only guess at the amounts that were never recovered. Due diligence in selecting your broker and staying onshore are two lessons to take from this.
The major lesson, however, is to be extremely skeptical of any unsolicited offer that may come your way via email, the phone, or from a friend. Crooks know how to use cyberspace and telemarketing techniques to their advantage. If the offer sounds too good to be true, then, most likely, it is. Stay alert, be skeptical, and be safe!
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