Written by Capital Conservator Scam on 14 May 2012
The title is a takeoff of the old adage, would you rather say,”I is rich, or I am smart.” Phishers have learned they need to be grammatically correct to gain financially through identity theft.
Official looking emails, which appear to originate from financial and other organizations, are used to lure consumers to fake Websites to capture the account information of the victim. This process is referred to as Phishing. The fraudulent emails have been speckled with grammatical and typographical errors and misspellings for years. The errors are a giveaway to consumers that are aware of identity theft scams that the email is a spoof.
Once the consumer is at the spoofed Website, which looks like the Website of their financial institution, the consumer enters their login and other authentication information including security questions. The consumer is manipulated to do so through the wording in the socially-engineered email he or she received.
Once the consumer logs into the fake Website, the crooks have captured all the information they need to commit financial fraud. The crooks can log into the official Website with the victims login and authentication information and withdraw and transfer money, make purchases, or make any other permitted transaction to will defraud the victim and institution.
According to BankInfo Security, a man in Georgia recently pleaded guilty for his role in a $1.3 million phishing scheme that targeted consumers at several major banks over a 10-year period. The man and six co-conspirators were charged with aggravated identity theft, wire fraud, wire fraud conspiracy, and conspiracy to gain access to banking computers.
To read more – click here
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Written by Capital Conservator Scam on 30 April 2012
Open a letter, an email from a stranger or pick up the phone and you are in a scammer’s the line of fire. Conservative estimates suggest that hundreds of thousands of Britons fall prey each year to cons and the result is always the same: You lose, the criminal wins.
So concerned is the Financial Services Authority that last week it contacted 76,000 people to tell them they are on a “sucker list” and are at heightened risk of being targeted.
“Fake prize draws, get-rich-quick investments and bogus training courses are just some of the tricks scammers use to con people out of money,” says Gillian Guy, the chief executive of Citizens Advice. “Rogues use a range of ways to lure people into scams from text messages to emails, as well as through the post. Some even turn up at your front door.”
With a recent academic study putting the cost of fraud in the UK at a staggering £85bn, and Scams Awareness month upon us, you should take note of some of the biggest frauds out there.
Boiler rooms
It starts with a cold-call pitching a sure-fire share investment. But if you buy these shares, you could find the company does not exist, or that they are worthless and impossible to sell.
Jonathan Phelan, the head of unauthorised business at the FSA, says: “We get 6,000 people a year telling us they have been contacted by boiler rooms. Around 700 of these are victims and lost around £20,000 each. But only 10 per cent of victims ever report the crime.”
To read more, click here
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Written by Capital Conservator Scam on 17 April 2012
Got money to invest? Who would you trust more: A Dallas oil-and-gas businessman or a Virginia minister and her husband? The best answer: “none of the above.” All three were convicted this year of running Ponzi scams. How to smell a rat?
It is all too easy to be taken in by a scam, it sounds great, there is apparently no risk and you don’t even have to do anything. All of these a red flags for a variety of classic investment and identity theft or advanced fee fraud. You should always consider the following:
Investigate before you invest
Does it sound too good to be true?
Does one person seem to be doing everything?
Is this investment “eerily consistent or above the returns on similar investments?”
The first piece of advice when considering a new investment is to take a step back. Try to ignore the promised returns and ask yourself how good it really is. If returns were guaranteed, wouldn’t everyone be doing it? If it really is a once in a lifetime opportunity – why is the person making the claim not taking advantage of it him or herself?
If you have any doubts, talk to someone else, try to see it objectively, and run google checks to see if you can find anything about similar schemes. Try to find out as much as possible about the individual or company in question before you rush headlong into a decision you regret.
For details on the Ponzi schemes mentioned above please click here
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Written by Capital Conservator Scam on 28 March 2012
Toronto police would like to make the public aware of a “phishing scam” that is targeting credit card holders.
“Phishing” is a technique used to trick people in providing personal, financial or password information by getting consumers to believe the request for information is coming from a legitimate source. The requests often ask for consumer information that will later be used to commit fraud.
People are being contacted through email, text messaging and phone calls from suspects trying to get personal credit card information such as credit card numbers, PINs and the three digit codes (CVV2/CVC2) on the back of credit cards.
Police recommend the following tips to protect your credit card data:
- do not give out any personal or credit card information
- ask the caller to provide their name, department and extension
- tell the representative you want to verify their information and end the call
- never use verification provided by the person/entity that contacts you
- take steps to verify what is being told to you by calling the phone number on your credit card or billing statement
http://www.newstalk1010.com/News/localnews/blogentry.aspx?BlogEntryID=10364866
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Written by Capital Conservator Scam on 19 March 2012
Whenever possible, Capital Conservator likes to provide specific examples of fraud which target us, as we are no different from any other potential fraud victim.
In the case our CEO David Finzer was contacted directly by email with a ´Business Proposal´. If you receive a business proposal from someone you do not know, you should immediately be suspicious. The email received by Mr Finzer was the following:
Dear Friend,
Pardon my intrusion, I seek your audience in a joint business venture which will be of mutual benefit to both of us.I will advise that you should be discrete and confidential with our communication.I was the personal lawyer to the late president of Libya [Muammer Qaddafi],before his death I was instrumental in the transfer of the fund kept in his private bunker to a security company oversea.Presently, I am the only one with the location and information on how to retrieve the fund.This is why I have contacted you to stand in as the beneficiary to retrieve the fund.Thirty percent of the principal amount will be yours for your service. If you are interested reply back with your full name, residential address,mobile, occupation and a scan copy of your drivers license or international passport.Attached above is the photo shot of the fund being secured in the security company.
Thanks
Bar. Mark Daniel
This is one of many variations of a classic advanced fee or identity theft fraud where you are promised money from a relative you never knew you had, can claim a portion of an unclaimed government treasure, or whatever the scheme may be.
The scheme requests you to send identification, as in this case, or an administration payment upfront to take part in this ´business´. Sadly too many people fall for these scams and have their identity, financial details or even their money stolen.
Please do not even consider schemes such as this, they are scams, no more.
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Written by Capital Conservator Scam on 13 March 2012
It should be old news by now that if you see a questionable video on Facebook you probably should not click on it, and definitely don’t give any information or fill out a survey. But with the shear number of fake videos popping up and scammers relentless tactics, it can be difficult to discern which videos are fake and which your friends post because they actually want to share an interesting video.
The most recent of these fake videos is one claiming to depict a roller coaster accident in California. Variations talk about it being in the United Kingdom, Australia or Universal Studios. Basically if it claims a roller coaster accident in the title it is a scam. No such video exists.
False Video Links like this have been cropping up on Facebook for some time now. Some other ones to watch out for are claims of a sex tape involving Justin Bieber or a supposedly embarrassing video of Rihanna.
Scammers tend to post “videos” that people will click on out of morbid curiosity. They want you to click without thinking.
The scammers earn money by driving traffic to certain sites. They get paid for each survey you unwittingly complete, or any product you purchase, or even just by compromising your Facebook account. Many are designed to spread malware or are linked to phishing scams, whose sole purpose is to obtain your personal information.
To read more – please click here
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Written by Capital Conservator Scam on 29 February 2012
Investors looking to enter the world of foreign exchange can find themselves frustrated and quickly spiraling downward, losing capital rapidly and optimism even faster. Investing in forex – whether in futures, options or spot – offers great opportunity, but it is a vastly different atmosphere than the equities market. Even the most successful stock traders will fail miserably in forex by treating the markets similarly. Equity markets involve the transfer of ownership, while the currency market is run by pure speculation. But there are solutions to help investors get over the learning curve – trading courses.
What to Look For
No matter which type of training a trader selects, there are several things they should examine prior to signing up:
Reputation of the Course
A simple Google search shows roughly 2 million results for “forex trading courses.” To narrow the search, focus on the courses that have solid reputations. There are many scams promising giant returns and instant money (more on this later). Don’t believe the hype. A solid training program won’t promise anything but useful information and proven strategies.
Certification
Good trading courses are certified through a regulatory body or financial institution. In the United States, the most popular regulatory boards that watch over forex brokers and certify courses are:
Staying Away from Scams
“Make 400% returns in a day!” . . . “Guaranteed profits!” . . . “No way to lose!”
These and other catchphrases litter the Internet, promising the perfect trading course leading to success. While these sites may be tempting, beginning day traders should steer clear, because any guarantee in the world of foreign exchange is a scam.
According to the Commodity Futures Trading Commission (CFTC) in a May 2008 release, forex scams are on the rise:
“The CFTC has witnessed increasing numbers, and a growing complexity, of financial investment opportunities in recent years, including a sharp rise in foreign currency (forex) trading scams.
The Commodity Futures Modernization Act of 2000 (CFMA) made clear that the CFTC has jurisdiction and authority to investigate and take legal action to close down a wide assortment of unregulated firms offering or selling foreign currency futures and options contracts to the general public.”
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Written by Capital Conservator Scam on 14 February 2012
There are only a few days to Valentine’s Day. Those of you who are shocked by that revelation are prime targets for Valentine’s Day related spam and phishing attacks as hackers hope to catch you with your guard down for this day of romance.
Messages targeting Valentine’s Day are expected to quadruple globally in the coming days – in part because cyber criminals are adept at targeting holidays and current events as bait for attacks. An offer for a dozen roses for a few pounds might get some traction any time of the year, but with the clock quickly counting down to Valentine’s Day it has much higher odds of duping frantic lovers in search of a last minute gift.
A blog post from McAfee warned: “Many consumers look for a little romance on Valentine’s Day, whether it is a thoughtful gift, a romantic getaway, or a heartfelt e-card, but if you’re looking for these things online, beware.”
McAfee points out a number of types of Valentine’s Day themed threats you should be aware of:
Phishing scams
Attackers will send out spam promoting bargains for flowers, romantic dinners, jewelry, or other Valentine’s Day gift related themes. Clicking on the offer might take you to a malicious site that could compromise a vulnerable PC, or it could take you to a site that looks legitimate, and asks for your credit card, and other personal information to “complete the order”.
Malicious eCards
Any holiday that traditionally involves giving and receiving cards is a prime target for cyber criminals. Everyone loves to receive a personalised greeting card – especially if it seems to be from someone that may be romantically interested.
Seriously, though, what are the odds that someone you don’t know decided to send you an ecard for Valentine’s Day out of the blue? Right.
Registration is free, and gives you full access to our extensive white paper library, case studies & analysis, downloads & speciality areas, and more.
Mr (or Mrs) Wrong
Another scam to watch out for are fake profiles on online dating sites. Cyber criminals create online dating profiles designed to be as attractive as possible to lure unsuspecting love seekers. The idea is to make connections, and establish trust as a means to further criminal activity.
McAfee outlines some additional threats to watch out for in its blog post. To steer clear of Valentine’s Day cyber threats, follow the basic principles of online common sense. Don’t open emails or file attachments, or click on links from people or sources you are not familiar with – and even if you do know the sender, think twice about whether that person would really send you a Valentine’s Day email.
Another basic rule is that if it sounds too good to be true, it probably is. Don’t fall for unbelievable last minute Valentine’s Day gift ideas no matter how desperate you are for a gift.
Protect your wallet, your identity, and your heart by avoiding Valentine’s Day cyber scams.
http://www.cio.co.uk/news/3336611/hackers-target-lonely-hearts-with-valentines-phishing-scams/
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Written by Capital Conservator Scam on 08 February 2012
We have become aware of an HYIP (High Yield Investment Program) by the name of “5 day bullet program” which promises investors quick returns of up to 800%. The webside is:
http://www.5daybullet2.webeden.co.uk/
I haven`t added a link to this as I would advise no-one to visit. This scheme is a fraud. It is vital to remember that NO investment schemes in the world can guarantee profits and certainly not as high as even 10%, let alone 800%. These schemes are designed to blind people into thinking that a quick dollar can be made.
HYIP schemes, Ponzi schemes are all part of a system that try to convibce you that quick money can be made with no work on your part and are frauds – plain and simple.
When you encounter a scheme like this you should report it, every government will have distinctive reporting webpages which can be found on the internet.
To read more about HYIPs and how they generally work, please visit:
http://capitalconservatorfraud.com/what-is-an-hyip-%E2%80%93-and-why-is-it-a-probable-fraud
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Written by Capital Conservator Scam on 02 February 2012
Like a bad dream, tax season is upon us once again. With two extra days to file your personal return this year, the Internal Revenue Service (IRS) is warning against scammers that prey upon trusting Americans.
Earlier this month, the IRS announced that the 2012 due date for personal income tax return filings would be Tuesday, April 17. The traditional deadline — April 15th — falls on a Sunday. Also taken into consideration is the District of Columbia holiday — Emancipation Day — which falls on Monday, April 16.
Therefore, the extra two days to file your personal tax return.
If you are surfing the Internet for the official site of the U.S. Internal Revenue Service, do not mistakenly click on www.IRS.com. This website is privately owned by Banks.com and is not related to the governmental entity Americans have grown to love and respect.
Despite yearly warnings and stories of the unsuspecting falling victim to scams, the Internal Revenue Service is once again reminding taxpayers to be alert for predators who may contact them by email, telephone, fax or regular mail pretending to be from the IRS. They warn that “many of these scams fraudulently use the Internal Revenue Service name or logo as a lure to make the communication more authentic and enticing.”
To read more – click here
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