Money Transfer Scams
Money transfers are a convenient way of sending money to someone electronically, they are however risky especially when you send money to someone you don’t know. This is because transferring or ‘wiring’ funds is the same as sending cash.
The process is quick, but once the money is sent it is almost impossible to trace the money, which is why this method is so often exploited by scammers.
To make sure you never become a victim of this type of scam, we recommend that you do not wire money to strangers or at least verified via voice call or even a video call. Some examples are someone claiming to be a foreign government official, a seller insisting on a wire transfer for payment, a person offering an AirBnB or holiday rental, or anyone claiming to need help in transferring large sums of money.
They will typically offer a big reward or what appears to be too good to be true.
Alternatively, the scammers may take advantage of your kindness by pretending to be a legitimate charity in order to fraudulently collect money, or play on your sympathies and claim to be in hospital abroad requiring financial assistance.
Auto Trading Scams
This scam also referred to as algorithmic trading and relies on installing trading software, but is essentially designed to take your money with very little return, and they will encourage you to increase your investment on a regular basis in order to generate a higher return.
You might have been exposed to what looks like a legitimate trading website, however that is just on the surface and all the data that you see on your dashboard is fake.
Pop-Up Windows
Fraudulent “Pop-up Windows” are a type of online fraud often used to obtain personal information.
They are the windows or ads that appear suddenly over or under the window you are currently viewing.
Fraudulent websites or pop-up windows are used to collect your personal information.
Pop-up windows are often the result of programs installed on your computer called “adware” or “spyware.” These programs look in on your Web viewing activity and regularly come hidden inside many free downloads, such as music-sharing software or screen savers.
Many of these programs enable harmless advertisements, but some contain “Trojan horse” programs that can record your keystrokes or relay other information to an unauthorized source. Pop-Up Windows Will Often:
Ask you for personal information (Account number, National ID Number, Date of Birth, etc.). Appear to be a legitimate source (Retail Stores, Banks, Government agencies, etc.).
Contain prizes or other types of certificate notices.
Contain fraudulent phone numbers.
Link to other counterfeit websites.
Ransomware Attacks
Ransomware is a common type of malware (malicious software) and in such an attack the individual or organization is targeted. It can be spread to computers on the same network or through attachments and links in phishing emails, through infected web sites by means of a drive-by download or via infected USB sticks.
Once a computer or network is infected with ransomware, the malware blocks access to the system or encrypt the data on that system.
The criminals will then demand that the victims pay a ransom in order to regain access to their systems.
In recent years this type of online scam has been on the increase and criminals request payment in bitcoin as it is almost untraceable.
This is an umbrella term for a wide range of frauds that involve online banking systems.
The scams themselves may differ in nature and con artists employ various extortion methods.
However, they all use the official financial institutions as a cover.
Victims usually trust the bank’s authority and legitimacy so they don’t question the fraudulent setup.
Banks are aware of this problem, and they are constantly striving to improve their safety measures so they would properly guard their clients’ funds. Unfortunately, the scammers aren’t idle and they are continuously searching for new ways to dupe people out of their money.
The financial loss made from these types of fraud may range from several hundred dollars to hundreds of thousands.
Here is a list of several things a bank will never do:
Ask for your PIN number or any online banking passwords over the phone or via email
Ask you to email or text personal or banking information
Ask you to authorize the transfer of funds to a new account
Provide banking services through any mobile apps other than the bank’s official app
Require you to enter your banking login details on an external link
Authorized Push Payment Fraud
This is a scam that targets businesses rather than individuals. Authorized Push Payment (short for APP) Fraud exploits companies’ diligence. A scammer would send a fake invoice to a company requesting a payment. In most cases, the con person is presenting themselves as an official firm.
Of course, they are charging for non-existent goods and services while they offer their personal bank account.
Many businesses don’t suspect the legitimacy of the bill. They pay it off, and the money ends up in the scammer’s bank account.
As these types of scams are difficult to spot, they can last for long periods of time. A business might pay out the fraud regularly, gradually increasing their financial injury.
The con artists usually transfer the money to numerous accounts making it difficult to trace.
Deposit Refund Scam
A scammer will contact an individual directly by email or even by phone.
They will provide an explanation that they have accidentally deposited money into the target’s account. Naturally, they would like to get it back.
The con person will provide some sort of proof of payment which is plagiarized.
The victim believing in the honest mistake pays the money to the fraudster. In the end, the victim incurs financial injury to themselves and the scammer disappears.
Vishing
This scam is aptly named with a portmanteau of Voice and Phishing since it combines these two.
An individual receives a call from a con person posing as a bank officer. In most cases, they explain that an irregularity has occurred and they would need to take safety measures. The fraudster precedes to ask the target a series of questions as a form of a security check-up.
The inquiry is designed to elicit personal and financial data along with credit card info. The victim, trusting they are helping a security officer, gladly provides the answers. The scammer can use all the information to steal the money or commit identity theft.
Payment Card Fraud
Scammers don’t need your physical credit card to commit fraud, but they will use all the means possible to get your credit card info. There are various scams to go about this. Some include secret card readers to extract the victim’s data, others involve various ways to trick people into divulging their info.
For a more detailed view on the matter, we invite you to check our page on credit card fraud.
What to Do in Case of an Online Banking Scam?
People fall victim to online banking scams every day.
We understand that it may seem you’ve lost your money, but we assure you that there is a way to retrieve it.
Our team in Cyber Justice has a wide experience with various types of banking scams.
Chances are we have already dealt with a similar case to yours, so we can offer a financial remedy.
There is an everlasting game of cat and mouse between scammers and banks. For this reason, financial institutions spend billions to improve their security.
A large portion of this money goes into developing unbreachable cybersystems and additional electronic safety measures. As comforting as that may sound, the schemers aren’t just fiddling their thumbs.
While cyber-security is constantly evolving, scammers find new ways of stealing money.
When it comes to credit card scams, it is not a skillful hacker you should be worried about. Con artists have realized that they don’t have to hack into your account to grab your funds. All they need is your credit card number and personal data.
In this section, we highlight three of the most prolific methods used by criminals.
Fake Calls
There is an abundance of schemes that rely on directly contacting a target with the goal of eliciting sensitive information. In case of this type of fraud, they are out for your credit card details. The type of calls can range from non-existing charity organizations asking for a donation, to credit card security impersonators who are checking your information as a part of a safety check for a suspicious purchase.
Regardless of the background story, the scammer is trying to get your personal and credit card information for various reasons.
The obvious one is to access your current funds, but a more problematic issue ends up being identity theft.
Con artists abuse their victims’ personal information to take out loans, make expensive purchases or incur other types of debt.
Phishing
Similar to fake callers, this scam is also trying to extract your personal info. However in this case emails are the main point of entry.
These emails usually present themselves as official companies and institutions and almost always contain a call for action.
You might be offered a job opportunity by a head-hunting agency. Additionally, a phishing email may pose as a security breach warning that prompts you to verify your account. Once the target clicks on a link in the email they are relegated to a site that looks genuine enough.
It is illegitimate, though, and its only function is to extract your private data. Once the scammers get a hold of your personal information they can then use it for nefarious purposes.
Credit Card Skimming
This form of data extraction is difficult to detect as it can occur without the victims’ involvement.
It relies on an electronic gadget whose purpose is to read, store and even transmit personal information from the credit card.
They basically skim your data off your card. These specialized readers are fitted secretly on various types of devices.
Skimming may happen while you’re using your card to pay for groceries, getting a bill at the restaurant, or taking up cash at an ATM.
Public Wi-Fi
Who doesn’t like free internet?! Well, there’s a reason why people are cautioned when accessing public Wi-Fi networks.
They might not be secure and you’re opening your device to malicious tampering.
Scammers use this fact to breach into the network system and they can exploit it to get into victims’ phones and computers.
Once inside the device, they can monitor any actions or browse through apps, collect data, or worse.
Another deceitful scam involves setting up a false Wi-Fi access point. The device might connect to it automatically or an unsuspecting user enters it willingly.
The victim is unaware that they aren’t connected to an actual Wi-Fi but to a system that enables scammers to monitor and tamper with their smartphones.
What Can You Do in Case of a Credit Card Scam?
If you suspect that malicious parties might have acquired your credit card info, or you know someone who has been a victim of a credit card scam, the important thing is to react promptly. Best you can do is contact a professional to mitigate the damage. We at Cyber Justice would like to offer our services to help you combat this troublesome problem.
Our team has particular experience in dealing with credit card fraud. You should know that you have options and we can help you expedite the process of your fund recovery.
In the case of small-scale credit card fraud and unauthorized charges, we can offer quick solutions. Most of these problems we can resolve for you in a matter of days. Unfortunately, identity theft cases might take considerably more time.
Our team of professionals will evaluate your case and we will provide you with an optimal plan for damage control and fund recovery.
Take matters into your own hands and contact us for a free consultation.
Contract for difference, CFD for short, allows traders to practice lucrative business strategies with the flux of the world market.
Unlike a typical stock exchange, the trader doesn’t own any assets or commodities.
With the CFD the buyer is obliged to reimburse the seller the difference between the values of an asset at the moments of forming and closing the contract.
This means that the interested parties will decide on the value of a commodity at a specific point of forming a deal.
Eventually, when this arrangement closes the buyer and seller will assess the current value.
If there has been a rise in the price the buyer loses money as they have to pay out the difference.
However, if the value has experienced a drop, the buyer earns from the transaction, as the seller has to reimburse them.
This is a perfectly legitimate form of market trading in most countries all over the world. It provides many advantages for financial experts, though it carries risks as well. As it can be high leverage trading, it means that earnings and losses are high.
Scam artists exploit this promise of a financial gain while falsely assuring that they can negate any form of risk.
Risk-Free Investment Scam
Fraudulent trading platforms advertise all over the internet.
They will try to entice their targets by offering wonderful CFD trading opportunities.
In most cases, they boast that they have professional insight and knowledge, or perhaps revolutionary software that can predict market changes.
This is all with the goal to lure victims into giving them funds since their platform is bound to generate profit.
As a rule, if the trading service claims they have a fail-proof strategy for making you money – it’s a scam.
No official broker or financial company can guarantee with 100% certainty the outcome of CFD trading.
That is all a ruse to make an excited investor give them money. The site might also charge for a monthly membership along with trading funds.
The scammer mime act like the target is gaining profit, but once a person wants to access their funds, problems arise.
The victim can’t get their money back easily, and soon enough they discover they can’t withdraw it at all.
They are unable to reach the responsible parties and all the contacts lead nowhere. Their money’s gone along with the scammer.
Unlicensed Broker
Most scammers prey on their targets on social networks and official sites. They contact a person by impersonating a financial expert with unique knowledge of the market. These fraudsters offer can’t-miss-it opportunities and exciting promises.
They use manipulation tactics to slowly lull their victim into trusting them until they finally give them money. In many cases, they are playing the long game, scamming a person for huge amounts. As alluring as these self-promoting experts are, there is a warning signal you can always check.
Try to investigate whether they have the broker’s license or whether they have an official business.
Additionally, try to find any proof of their dealings and success stories.
Scammers work from the shadows. If a trader is legitimate, there’s bound to be proof of his work on the internet.
Revolutionary software
Groundbreaking apps and programs are typical selling points of many frauds.
Almost always the software has magical-like abilities, in this case, it promises to predict the price fluctuations, making the CFD trading a sure win.
It boasts that it holds an algorithm which analyses past trends in order to anticipate the future ones. This is false advertising and the victim pays a hefty sum for worthless software.
In certain cases, the program turns out to be malware which steals the victim’s personal information. The fraudsters later use it for identity theft incurring even more financial damages.
What Can You Do in the Case of a CFD Scam?
Regrettably, the trading market is full of scammers who are preying on investors. If you or your loved ones have fallen victim to a CFD Scam, we assure you that you are not alone. Our team in Cyber Justice has successfully solved many types of frauds connected to the trading market.
Our experts can evaluate your case and make the optimal plan for recovering your money.
Don’t hesitate and make your first step towards recovering your stolen funds. Contact us now and get a free consultation.
Many people feel tempted to grab the opportunity to increase their capital by trying their luck in the forex market.
It seems that huge riches await people and all they need to do is conduct a quick research and make the opportune move.
Unfortunately, this very promise is the hook which enables scam artists to thrive in this area.
Forex Trading
It’s important to note that forex trading is a legitimate form of doing business and many professionals practice it. It implies various ways of buying, selling, and exchanging pairs of currencies. With trillions of US$ being exchanged on daily bases, forex trading is a huge frontier for financial gain and opportunity.
Still, it’s not just the vast cash flow which makes the forex market so appealing.
The market is highly volatile since it doesn’t have regulated centralized exchange.
Topped with the fact that forex trading is a high leverage market, it’s no wonder why so many come to the conclusion that forex (FX) is an excellent opportunity for getting rich. Additionally, the FX market is highly available. The exchange is done through computer networks and a click of a button. Likewise, trading is available 24 hours a day, 5 days a week. The opportunity for gains awaits any time of day.
What is a Forex Scam?
Owing to the nature of the FX market it has become a fertile ground for various types of scams. Unfortunately, forex fraud is a growing problem which comes in various forms. Typical examples would be boiler room scam artists, faux-experts who chat you up in a coffee shop, and presenters of revolutionary software.
Furthermore, there have been cases with trusted brokers and executives who have been involved in forex scams.
Though there is no guaranteed way to avoid forex fraud, it is still possible to trade and minimize the chance of becoming a victim of a forex scam.
You can prosper in the forex market providing you remain diligent and careful with every decision you make.
Don’t let your valuable assets vanish as a result of a devious plot by forex scammers.
Primarily, make sure the person you choose to do business with is duly regulated in the country they operate from.
Forex Scam Victims
The rule of the thumb is: The most common victims are the ones who think it will never happen to them. It is a misconception the targets are gullible elderly citizens. Generations older than their 50s have developed a competent level of computer literacy. This makes them more immune to potential online scams.
Nowadays with tactical affinity scams, everyone is a target for scammers. Unfortunately, this means you too. What’s more, young adults have become a growing target for online fraud. Social media like Facebook, Instagram, YouTube, and other platforms are an open field for scammers who prey on the young people who are the most likely to fall for get-rich-quick schemes. Even if these con artists employ rudimentary techniques which lack any kind of credibility, they are highly successful for numerous reasons.
What Can You Do in Case of a Scam?
Ask for professional help. If you have been a victim of a scam or you know someone who has experienced a financial loss in this way, don’t hesitate to take action. You shouldn’t feel shame as these cons are designed to entangle innocent people.
However, in order to mitigate this awful experience take matters into your hands and ask for the assistance..
Our team of experts is at your disposal. Cyber Justice specialize in dealing with cases of money fraud, and we have vast experience with retrieving funds for our clients.
As we have a large and growing number of satisfied customers, chances are we are already knowledgeable regarding your troubling experience with cons.
You have nothing to lose, but you can take back your money and pride. Contact us for a free consultation.
Ponzi and Pyramid Schemes
This is a very old and very common fraud that can build up to enormous proportions.
People are drawn into a hierarchical structure with promises of high return for the initial investment paid in advance.
On several occasions, early entry investors do get a moderate financial benefit.
Consequently, they feel inspired to spread the success so they go on to encourage others to participate in the unsuspected scam.
However, this lucrative opportunity is just smoke and mirrors. Profit isn’t actually being generated, still, there is an illusion of it.
The earlier investors are funded by the later entries of the scheme. Once the jig is up, the upper-level scammers call the whole thing off and disappear with everyone’s money.
If you want to read more about this type of fraud we have covered this type of scam in-depth under the Ponzi & Pyramid scams section.
High Yield Investment Programs
More often than not, High Yield Investment Programs (HYIP) end up being a Ponzi scheme.
If it’s too good to be true, it is probably a scam. When it comes to the forex market, these systems offer great return opportunities for a modest contribution to a FX fund. Like with any pyramid scheme, primary investors receive the income generated by the payments of newly initiated members.
Eventually, once there are no more investors in the chain, the top-cats close everything and take all the money.
Point-Spread Scam
In a standard trade of goods, there’s always the asking price and a bidding price for a single asset. The difference between these two numbers is the bid-ask spread.
In the case of currency pairs, these spreads tend to vary. With the lack of a centralized exchange rate, individuals can abuse this system by offering wide and problematic point spreads.
In most cases, it is a red flag when brokers offer considerably different point spreads.
A typical warning sign would be brokers advertising exchange ratios with pips going up to 7 or higher.
In case you’re wondering, pip is the smallest price move and most commonly it is the rightmost decimal in the figure presenting the exchange rate value.
In these cases fraudulent and malicious brokers can falsify and manipulate numbers more easily, resulting in their gains but your money loss.
“Robot” Scamming in Today’s Market
Wouldn’t you like to have an app that can garner profit even while you’re sleeping? Well, who wouldn’t! We live in the age of constant inventions and revolutionary technology performing miracles. That’s why it seems reasonable that a wondrous new finance software could be just around the corner.
It’s easy to get enticed by the possibility of owning a state-of-the-art program which can turn you rich without any effort from your side.
As wonderful as it sounds, this almost never works. ‘Robot’ scamming doesn’t necessarily employ robots, but it alludes to the idea that a program can automatically get us rich. Financial software is simply a tool that can help you form a decision but without proper expertise, it tends to be useless.
Of course, many of these new programs are untested and it’s difficult to check if they work or they are simply a hoax.
Scammers will try to sell such phony prediction programs for a lot of money. They might even ask for a monthly subscription for the right to use it.
Unfortunately, the problem with this scam might not stop there. Many of these programs end up being malware which extracts personal and financial data from target’s electronics.
Signal-Seller Scam
This type of fraud revolves around people who present themselves as great experts. These financial mavericks will gladly use their classified knowledge and insights to make you rich.
The entire cryptocurrency market has reached a total traded capitalization of nearly $2 trillion dollars in just 10 years.
The price of a single bitcoin reached $18,737.60 by 18 December 2017, with a global FOMO frenzy, but then the price of bitcoin tanked to as low as $3,209.76 by 15 December 2018.
The volatility of the cryptocurrency has not however deterred investors trying to make a quick buck and this is where the scammers take advantage of innocent victims.
Although blockchain tech is a relatively safe technology, cybercriminals manage to find breaches and loopholes to break into the websites and compromise users’ digital wallets and funds.
It goes without saying that the laws protecting investors of ICO are far from perfect, so it’s easy for founders to commit serious financial crime and get away with it.
The term “Wild West” is often associated with cryptocurrencies and for the most part, it is true, as global regulation is still a work in progress, with governments struggling to keep up with the pace of innovation.
People often buy cryptocurrencies using a credit card/ wire transfer or any type of method to move funds to an exchange and in some cases directly through the scam websites, and this is where the liability can be attributed to the card issuers and banks, as they are supposed to safeguard customers funds.
Investment Scams will often get you to transfer cryptocurrencies as they are anonymous it is very difficult for an untrained to track and recover their funds.
Below are two of the most prolific scams in recent history:
In 2015 Ruja Ignatova, along with her brother, Konstantin Ignatov, ran “OneCoin” which claimed to be a new and better version of the cryptocurrency Bitcoin and managed to steal an incredible $5 Billion from people around the world.
They held elaborate and glamorous events where they pitched OneCoin to potential investors and claimed it was going to change the world and usher in a new world of financial freedom. Those who invested early were told they would be at the start of a revolution. However, nothing actually existed, OneCoin didn’t have a blockchain, a cryptocurrency or wallet.
Ruja Ignatova vanished in mid-2017 and is being charged with money laundering offenses in several countries.
Another well known MLM cryptocurrency scheme was a company called “Bitconnect” that had a total capitalization of trade in excess of $1.5 Billion just before the entire house of cards came tumbling down on 16 January 2018, and with it many thousands of people lost all of their investments to what turned out to be a global Ponzi scheme.
The scammers were accused of fraud, misrepresentation, and misappropriation in connection with bitcoin/BCC trading.
The crypto scammers are now being sought by law enforcement authorities in virtually every major country.
Common types of Cryptocurrency Scams
Cryptocurrency scammers are constantly inventing new ways to steal your coins & tokens many people have reportedly been a victim to one of these five types of scams below.
The Pump & Dump
The crypto scammers “pump up” or hype up (pump) a cryptocurrency that they own in bulk with the aim to sell it (dump) once the value peaks due to the increased demand that they themselves have generated.
In most cases, however, they will actually convince newbie inexperienced investors into colluding with their scam with false promises of massive returns.
Sadly these naive people often find out too late and are then left holding huge amounts of worthless cryptocurrencies.
Fake Investment Syndicates
Often the only people who profit from online “syndicates” are the scammers who run them.
The sites look incredibly legitimate and, similar to binary options sites, they also feature photos of happy members with large houses, sports cars or in exotic locations, and claim to have made megabucks by investing with the hidden cryptocurrency pros who stand behind the curtain.
The last time you see your money will be when you hand it over to the scammers and then suddenly the customer support is too busy to assist with your inquiries about returning investments or missed deadlines for dividends.
Fake Exchanges
They’re all over cyberspace, and for first-time investors, they’re hard to distinguish from the legitimate ones. In December 2017, Korean authorities closed down one of them, BitKRX.
What was particularly pernicious was that BitKRX usurped the last three letters of its name from KRX, the Korean Stock Exchange, in order to purposely misrepresent itself.
Fake Wallet
This scam is custom-made for cryptocurrencies. Since “altcoins” are bytes of data, rather than metal, they have to be parked somewhere online in what is euphemistically called a “digital wallet.” Innovative scammers with good marketing skills set up their own digital wallets advertise aggressively for customers to come along and once they deposit their cryptocurrency in them, it disappears forever.
Ponzi and Pyramid Schemes
If cryptocurrency investments are, as they say, guaranteed to quickly appreciate in value at a skyrocketing rate, why would someone offer you a higher interest than the market currently generates? The most obvious answer is because the offer is a red light for a cryptocurrency Ponzi or pyramid scheme.
The phenomenon will continue, since other such online schemes employ the same 200%-in-90-days business model, and are bound to collapse as well.
The main difference between the operators of these sites and Charles Ponzi, for whom the scheme is named, is that these guys, unlike Mr. Ponzi, are anonymous.
Telegram messaging
Using the ‘Telegram messaging” platform has its risks also and it is often used by scammers to trick victims into thinking they are dealing with real “admins” just by changing their username so it looks official, essentially they will add a letter or even “admin” next to their username.
Once they have started a conversation with you they will take time to gain trust and offer help and even appear to be very sympathetic to your needs.
However, they will soon ask you to transfer cryptocurrency as part of an admin process to verify your details or they will try to get you to send the private keys to your wallet.
Many people new to cryptocurrencies are very trusting in the beginning and are not sure about what to look for to spot the scams and the scammers rely on this and take full advantage to steal your money.
Telegram is also full of bots and spam which often have links to fake sites or to sites that can install phishing links that scrape your data and allows the scammers to get more information about your online presence, so we recommend never to click on these links.
Some business professionals have dedicated their careers to the art of binary options trading, while other financial experts shrug it off as nothing more than gambling.
Whatever your opinion on the subject, this business practice has proven great potential for large gains. Regrettably, scam artists use this market segment to con people into losing their money.
What is Binary Options Trading?
At its core, it is a form of an options contract that hinges on the state of the commodity market. What differentiates this type of trading is its binary nature of the outcome.
To explain it further, the price of any asset on the market can either rise or fall.
The interested parties may speculate whether certain stocks and goods will present an increase or decrease in value at a specific point of time.
Contrary to stock trading, they are not buying or selling anything, but rather they place a type of bet.
If they predict the outcome correctly they earn money, and conversely, they lose if they guess wrongly. This creates a win or lose scenario, and hence the binary in the term. For instance, an individual may look at oil stocks and see the price holds at 50E.
Afterward, they contact their binary options trading institution and declare that at 9:00 am the oil stock price is bound to present an increase.
Of course, they pay a sum of money and with this, they place a form of a bet. If at 9:00 am the stock displays a rise by a single cent, the investor will receive predetermined gains. On the other hand, if the price presents a drop by a single cent they lose their money.
Laws and regulations regarding binary trading opportunities vary significantly worldwide. This enables financial institutions and companies to offer wildly different offers and business terms. This gets even more chaotic with online trading and binary options websites.
It is no wonder why scammers flock to these financial spaces.
What Is a Binary Options Scam?
To put it simply, fraudulent groups and individuals can use binary options trading to exploit investors.
The target gets sucked into a scheme purposefully designed to extract their funds without any chance of gains whatsoever.
Sadly, these scams are widespread and frequent in this finance area, and even seasoned traders end up being a victim.
There are a plethora of unregistered and illegitimate platforms which will promise money-making tips and get-rich-quick opportunities for a monthly fee.
Of course, their advice is inaccurate and seldom profitable. In the end, their beneficiaries lose their money and they can’t get in contact with any of the personnel.
These fraudsters have well-developed systems and they will use any means necessary in order to rob an unsuspicious investor.
Con artists will present themselves as verified experts with unique insight into the market fluctuations.
It is not uncommon that scammers will try to sell state-of-the-art software which can make amazing bets for their users. Quite often, these programs end up being malware. Commonly, scammers use official sites, message boards, and social media to promote themselves to lure their victims.
Unsolicited calls and emails turn into aggressive pitches presenting a now-or-never investment opportunity.
With a constant stream of information, it’s difficult to discern the real trading professional from the scam artist.
What Can You Do in Case of a Binary Options Scam?
Ask for professional help. Don’t hesitate to take proper action towards retrieving your money.
Not all is hopeless, Cyber Justice is here to provide you with options. We are here to help you minimize the consequences of your scam experience. Hopefully, our company will help you get your hard-earned money back.
We have a team of experts at your disposal who are ready to take on your case.
They have extensive and diverse experience in legal matters and financial remedies relating to fraud and scams. Our professionals boast a large number of successful cases. Because of this, chances are that we have already dealt with similar cases to yours. So don’t wait any longer and make the first step towards retrieving your money. Contact us now for a free consultation.
Inability to Collect Your Funds and Radio Silence
You’ve found yourself an excellent site for trading opportunities, or perhaps you’ve formed a business relationship with a knowledgeable broker with hot tips.
They advise you to invest a little bit extra for that amazing opportunity to score the big bucks. Everything is going swimmingly until the first moment you ask to collect your gains.
The biggest red flag is when clients are unable to withdraw their funds easily. Fraudulent institutions will provide you with various reasons and excuses why you can’t access your funds. They might even ask for an additional withdrawal fee. Victims may end up in a labyrinth of contacts referring them to someone else who can give them their money. Generally, no one answers their calls or emails. In either case, the scammed person has lost their money.
Identity Theft
Quite often, identity theft is a common element of various types of scams.
Binary options schemes usually include fraudulent platforms and software that mine personal data from their unsuspecting clients.
This information is consequently employed for nefarious reasons.
The victim’s identity is abused to take out bank loans or make unsolicited payments and investments.
Ultimately, the scheme is incurring a considerably greater financial injury than the loss of invested money.
Manipulation of Software to Generate Losing Trades
Since binary options trading is commonly done electronically and through internet portals, the information and figures are highly susceptible to manipulation.
The scammers may embezzle their clients from their money by tweaking numbers.
Even if the victim wins, the fraudulent parties can present the figures as if their client has lost the money.
In some cases, this is difficult to check. What’s more, the fraudsters may employ a network of fake sites to assert their credibility. Unfortunately, their targets are unaware they’re caught in the web of lies.
The world of online dating can be an exciting way to meet potential partners. However, you will quickly discover that things are not what they seem on many sites and profiles.
Though it is one of the fastest-growing ways for singles to meet each other and form relationships, there are definitely those who use the sites for dishonest purposes.
Some of the more common online dating scams also referred to as “romance scams” discovered in recent years are mentioned below.
These dating scams refer to clues that the person on the other end of a profile is untrustworthy, or that the website itself is the scam.
We hope that this list will keep you well-informed enough to continue dating online safely.
Their end goal is to get you to trust them and send them money or disclose information that enables them to steal your identity or money.
These dating scams will gain your trust by using information from your social media and deploy what is called a “long game” scam.
Facebook & WhatsApp
You might get a direct message from someone that you do not remember, they will probably start by saying that you went to the same school or college and that you were in the same circle of friends. Then they will start a general chat and this could go on for several weeks, in order to build trust and create familiarity with shared hobbies, interests and travel experiences.
Then they will start to ask for money with the most inventive reasons but somehow convince you that this is the right thing to do and certainly use the emotional connection they have created to manipulate you and lower your resistance.
The scammers will say they want to visit you and can you perhaps pay for their travel expenses, visa, and other official travel documents and that they will pay you back during their visit with you. Another common ploy is that they need to have surgery or other medical expenses or for a parent basically, any request for money should be an immediate red flag and make you aware that you are being scammed.
In recent years there has been a significant increase in large data breaches which have lead to millions of peoples private data being released into the public domain and sold on the dark web. Some of the biggest companies in the world have been breached most notably British Airways, Cambridge Analytica, Facebook, eBay, Google+, Marriott International, Quora, Saks, T-Mobile and Yahoo. Resulting in private customer data being used to conduct online banking fraud.
We are here to help you recover your lost funds from the banks and credit card providers with our extensive knowledge in fraud detection and years of experience in dealing with these matters. We have a high success rate and many satisfied customers.
Below we take a deeper look at some of the most common types of scams. You should be aware that this is not an extensive list, and scammers are constantly developing new techniques.
Dating Websites Require In-Depth Personal Information
All dating websites will ask for a certain amount of information in order to match you with people who will have similar interests.
However, this information should be limited to personality details and interests rather than financial information or anything that might be useful to someone wishing to steal your identity.
The Online Dating Profile Has Only Professional Photos
Though it’s possible that an actual model with a portfolio was matched with you on a dating site, it’s much more likely that the profile is fake.
Fake profiles are generally used to mine information from unsuspecting singles, or to convince you to download malware (generally disguised as a photo file) that will steal your private data.
The Person Gets Very Emotional Too Soon
Have you received a long email or message detailing how much someone you’ve just been matched with has been “waiting for someone like you forever”? This is a typical situation to worry about, and best to avoid people that are overly emotional before meeting them in person.
The emotional approach is another way the scammers try to gain sympathy and start asking for money.
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Nicosia
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Georgiou&Sterling WRS Law Firm
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