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Online Scams and Their Prevention

An Internet scam or online scam is a fraudulent or deceiving business scheme. It is very rampant nowadays. Be careful when using the internet. Do not be vulnerable to such cunning schemes. Be informed.

Here are some of the more popular internet scams:

Nigerian Scam or the 419

This scam came from a Nigerian family. It was first known as “The Spanish Prisoner” in 1920s.

The Nigerian Scam tricks victims to do business with them, with promise of high returns. It operates by first sending out a proposal letter, luring readers of a very lucrative business. You will then be asked to pay a certain amount as investment to them. But you will never receive the money they promised.

Advanced payment for guaranteed loan or credits

In this kind of deception, the victim is asked a certain fee in advance in return for guaranteed loan. Careful not to fall for such tricks. There are no upfront fees when applying for loans. Besides, why would a stranger entrust you with a credit? It is better to turn to well-known and accredited loan institutions.

Lottery Scam

Lottery scams usually come in emails. They will say you won millions in a random lottery draw. Before you can claim your prize, you will have to pay certain processing fees. You will never get the prize after your payment.

Think carefully before falling in the trap. Did you ever join any lottery contest in the first place? Why do you have to pay certain fees before being able to claim your prize?

Overpayment Scams for Items on Sale

These scams often happen during online purchases. As a seller, someone will contact you to offer selling your goods at a premium. He will ask you to send him your product plus the premium price (his selling price less your selling price). The money order he will send you is fake.

Employment Scams

These scams frequently happen during online job applications. In the application process, you are required to give some of your important personal details. The scammers can track you down in your house to rob you, or withdraw all your money from your bank. Always check the background of the company, especially if online. Your carelessness may not just lose you money, but also cost the life of your loved ones.

These are just some of the popular online scams. Day by day, the scammers will always find new ways to trick the ignorant and misinformed. It always pays to know. Be wise and smart in your online dealings.

Here are suggested ways to prevent being scammed:

o think twice if advanced payment is asked of you before joining

o avoid Ponzi schemes

o avoid pyramid schemes

o study how the deposit system works

o Use an escrow service as much as possible

Source by David Urmann

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