Quick Cash Scams Can Leave Your Identity Shattered

In the new age of digital technology, an old scam has been introduced with a new twist. There has been an increase in e-mails from foreign countries that promise a large amount of money for doing a relatively simple thing- cash checks.  

Most messages generally sound like this:  “We are an electronic sales company based in the U.K. We need someone to act as a sales representative by cashing our client’s checks. All you have to do is cash the checks and keep ten percent as a commission. If you have forty five minutes per week and a bank account, then you can earn thousands per month.” 

Here is the real deal. One such individual chose to take this “deal of a lifetime.” The checks arrived at the individual’s address. She received instructions to cash the checks and send the amount, less the commission via money transfer to “person A.” She took the checks to the bank and cashed them. She proceeded to wire $2,000 (as the commission was withheld). The next day, the bank notified her that the checks did not clear. She hurried to the place where the money was wired. Thankfully, the funds were not released, as the recipient could not identify the sender. All was saved, less a few bank fees for the bounced checks, but clearly the situation could have ended worse. She would’ve had to pay the lost money back to the bank and her credit would have been destroyed. True story. 

Protect your identity and your money by never receiving checks from unknown sources. Most of these scams are originating in Eastern Block and Soviet countries, as well as Nigeria and other parts of Africa. The scam artists receive information from career sights where resumes are posted. The sad part is there are no international laws to protect from such a scam.  

Don’t be fooled by opportunities to make easy money, for it will only result in loss of money and poor credit. Be careful as to where you post your resume and how you post it, as there are ways to post it without offering your e-mail address to others. Don’t offer your address, phone number or real name to any strangers that you do not know. There are ways to use these items to steal your identity. Protect yourself before the crime, rather than waiting for someone to do something that leaves you asking yourself, “why did I do that?”

If It Sounds Too Good To Be True, Then It Probably Is!

Credit card fraud can present itself in many forms, all of which can lead to identity theft. One such form is that of an unreliable website.  There are many sites that present themselves with a promise to the unsuspecting victim of an opportunity to earn money from home or an opportunity to receive unclaimed money.

What’s the catch?  Everything is free until it is time to register. There may be a membership fee or a “one time” service charge that is billed to major credit card. Once the company receives the credit card, the rest is an endless nightmare of credit abuse and unwarranted charges based upon identity theft.  These companies prey upon naïve and desperate individuals whom are seeking an alternative to a regular job.  What they get in return is an endless barrage on their identity and money.  Here are a few details that will allow an individual to protect his/her credit and identity before it is too late.

Do the research.  A reputable company will have references and success stories that can be tracked.  If the prospective business does not have a valid mailing address (only a P.O. box), this may be a sign that they are not a legitimate business.  Don’t hesitate to contact the Better Business Bureau.  If they are not registered, this may be a red flag.  Beware of companies that do not offer a toll free number.  Companies that do not offer a help line are usually hiding something.  Call the toll free number, if offered, and talk to a representative from the company.  Many will have automated responses that will present business hours to contact a representative.  Make sure that one is reached and ask the representative important questions that pertain to the validity of the business.  Remember, it is your money and your identity.

Read the fine print.  There are many companies that will present the truth, but in fine print (many times under “terms and agreement”) they add terms that modify the truth or make the truth too expensive for you.  For example, even though it says in large print, “a onetime fee,” it may stipulate in fine print that there are other charges.  Or, they may tell you in the small print that they will sell your information and you have no control over who they sell it to. Always print the “terms and agreement” and read it over carefully for hidden charges or what they say they can do to your personal information. This is a common scam among “fly-by-night” enterprises.

These are only a few details that may save a person money, time, and stress.  Many companies will go to great lengths to get as much money and information as they can from unsuspecting individuals, only to pack up and never be heard from again.  Don’t be one of them.