GDS International Investigates Scams Since The Recession

The top 10 scams since the recession began seem to target those who were hit the hardest, including those who lost jobs or had their hours significantly reduced.

Some of the top 10 scams since the recession include bogus government grants, mortgage-foreclosure aid scams, phony job-hunting pitches and phishing/spoofing. When people are hit financially and are often desperate, these offers can look authentic and attractive.

Below is information regarding the top 10 scams since the recession began:
Help seeking government grants - Internet ads often describe help getting federal grants. These ads often claim that for a fee, you will receive leads to government grants. Many people have provided credit card information to get these leads, only to lose their money.

Phishing/spoofing - Another of the top 10 scams since the recession began is phishing or "spoofing". This often involves e-mails that request information, often in a threatening tone. These e-mails may claim that an account is about to be closed, or that there are balances due. In this way, those committing fraud can gain access to user names, passwords and even credit card information.

Nigerian money offers - This scheme has been around for years, and is one of the top 10 scams since the recession. The family of a rich political figure who has passed or been imprisoned cannot access a frozen bank account, but the money can be deposited in a foreign account. You are offered a portion of the money if you allow the money to be deposited in your account; upon depositing, you transfer the money to the family. Scammers get access to your banking information, and can then wipe out your account.

"Free" trial offers - People who are experiencing financial difficulties often look for free merchandise. In this scenario, an individual clicks on an ad offering free trial offers of products; in the end, they are often charged hundreds of dollars for merchandise that was supposedly free.

Foreclosure rescue - The top 10 scams since the recession include foreclosure rescue; many people are losing their homes due to the economic conditions, and crooked businesses contact these home owners claiming they can save their homes. The home owner pays a huge fee, after which the company usually either does nothing at all or convinces the home owner to sign over the title.

Rounding out the top 10 scams since the recession are:

Work at home opportunities in which individuals can supposedly earn big money - but they have to pay a fee first. Of the top 10 scams since the recession, this is one of the biggest and most convincing.

Fake checks, in which the victim is selling a big-ticket item such as a car, the buyer writes a cashier's check larger than the selling amount, asking for the victim to return the difference. The check is eventually found to be "bad", and the victim is responsible for the money.

Internet auctions, lotteries, and prizes/sweepstakes are the remaining of the top 10 scams since the recession. People are very vulnerable and susceptible to fall prey to these scams when times are hard; it is essential that individuals remember that when something sounds "too good to be true", it usually is. Keep these top 10 scams since the recession began in mind, so that you can avoid being victimized.

Click here to check out other GDS International scam articles.

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