Greg's Corner

Updates from Geebo Toggle Comment Threads | Keyboard Shortcuts

• 

  Geebo 8:00 am on August 9, 2024 Permalink | Reply
  Tags: BEC scam ( 6 ), business email compromise ( 12 ), home buying ( 6 ), real estate ( 128 ), Scams ( 1,384 )   

  Protecting your new home from BEC scams 

  

  By Greg Collier

  Finding your dream home can be exhilarating, yet fraught with unexpected challenges. For one Colorado couple, the process took a devastating turn just days before closing on their new home, highlighting a growing threat to homebuyers, the Business Email Compromise (BEC) scam.

  The couple, eager to settle into a family-friendly home, found themselves victims of a sophisticated email scam. Both working in the healthcare field, they were unfamiliar with the nuances of real estate transactions. As they prepared to close the deal, they received emails that seemed to be from their lender and title company. These emails, however, were from a hacker who had infiltrated the email chain, subtly altering the sender’s address to deceive them.

  Despite their efforts to verify the wire transfer through their financial advisor, who diligently contacted their financial institution, the funds vanished. They lost over $30,000, a sum representing years of savings. Though they managed to complete the purchase, their financial plans were put on hold.

  To safeguard against BEC scams, experts recommend maintaining open lines of communication with your realtor or title company through phone calls or in-person meetings. Verifying wire instructions by phone before transferring funds is crucial.

  Title companies often emphasize the importance of wire fraud prevention, promoting awareness of best practices, and encouraging real estate agents to educate buyers early and often.

  Following their loss, the couple filed insurance claims with both their financial institution and the title company. However, both companies denied responsibility.

  This incident should serve as a cautionary tale for anyone involved in real estate transactions. By adopting preventive measures, homebuyers can protect themselves from falling victim to similar scams. Always verify email addresses, confirm wire instructions via phone, and be wary of any unexpected changes in communication.

   

  Leave a ReplyCancel reply
• 

  Geebo 8:00 am on August 8, 2024 Permalink | Reply
  Tags: deed transfer ( 13 ), real estate ( 128 ), real estate fraud ( 2 ), Scams ( 1,384 )   

  Homeowner battles eviction after decades-old scam 

  

  By Greg Collier

  For over fifty years, a 90-year-old man has called a Brooklyn, New York, brownstone his home. It’s a place rich with memories, where he raised his three children and imagined spending his final days. But instead of enjoying a peaceful retirement, he finds himself in a bitter legal struggle to remain in his beloved home. The root of his troubles is a scam that has left him facing imminent eviction and his name missing from the deed of the house he’s cherished for decades.

  The house, which he purchased in 1969 for just $20,000, now stands as a prized asset in a neighborhood transformed by gentrification. Its current value is close to $3 million, a testament to the dramatic changes in Brooklyn since he first moved in.

  Fraud of this nature is alarmingly common in rapidly changing neighborhoods, especially in certain areas of Brooklyn and Queens, where many people have been victims of deed theft or real estate fraud.

  The scam that ensnared this victim is a complex web of deceit, with its intricacy adding to the deception’s success. In 2006, needing funds for renovations, he was duped into signing over his home’s deed to a con artist with a criminal history. A deed was returned to him, appearing legitimate with a notarized signature from a crooked attorney, yet it was never officially recorded.

  Unbeknownst to the victim, the con man leveraged his home to secure a $700,000 line of credit, eventually leading to foreclosure and a $2 million sale by the bank. He remained in the dark about these proceedings for nearly a decade, only discovering the betrayal when the foreclosure was complete.

  To protect yourself from such scams, it’s crucial to be cautious when dealing with property-related transactions. Always verify the credentials of anyone asking you to sign over property documents, and consult a trusted legal professional before making any agreements. Regularly check public property records to ensure your property’s deed is correctly recorded in your name, and be wary of offers that seem too good to be true. By staying vigilant and informed, you can safeguard your home and financial future against fraud.

   
• 

  Geebo 8:00 am on August 7, 2024 Permalink | Reply
  Tags: bait and switch, Facebook ( 180 ), found child, missing child ( 4 ), missing person ( 8 ), Scams ( 1,384 ), social media ( 81 )   

  Fake posts about the missing and found children 

  

  By Greg Collier

  In the digital age, social media platforms like Facebook have become prime targets for scammers looking to exploit users’ emotions and trust. Recently, two types of fraudulent posts have been making the rounds: one featuring a missing elderly woman holding a Yoda toy and the other showing ‘found child’ images. Both scams aim to manipulate users into sharing the posts, ultimately serving malicious purposes.

  The missing elderly woman scam involves posts about a woman with dementia, often seen holding a Yoda toy, circulating across Facebook, primarily in local buy-and-sell groups. These posts claim that the woman appeared at the poster’s house, supposedly taking the toy from their child. Each post urges users to flood their feeds to help find her family. However, these posts are nothing more than a bait-and-switch scam. The locations mentioned in these posts, such as Surprise, Arizona, and Cagliari, Italy, are inconsistent, which is a hallmark of such scams. A reverse image search reveals that the photo has been circulating since at least 2020, with different captions, none indicating the woman is missing. Scammers initially lure users with an emotional appeal, then change the post to contain links to malicious sites or deceptive rental ads.

  Similarly, the found child scam involves false posts appearing on Facebook, as warned by the Fort Smith Police Department (FSPD) in Arkansas. These posts use fake images of distressed or injured children, asking the public for help in sharing the post. Despite attempts to report them, many of these posts remain active due to Facebook’s reporting system limitations. Scammers aim to gather likes and shares, boosting their profiles through Facebook’s algorithms. By turning off comments, they prevent users from exposing the truth about the posts. Such posts cause unnecessary alarm and distress, prompting police to urge the public not to share them.

  To protect yourself, verify the credibility of the source before sharing any post about missing persons or found children. Check the poster’s profile for any red flags, such as recently created accounts or inconsistent location details. Conduct a reverse image search to see if the image has appeared elsewhere on the internet with different contexts or stories. Be cautious of posts containing links, especially those generated with URL shorteners, as they may lead to malicious sites. Report suspicious posts; even though reporting may not always be effective, the more reports a post receives, the higher the chance it will be reviewed and removed.

   
• 

  Geebo 8:00 am on August 6, 2024 Permalink | Reply
  Tags: military ( 12 ), military housing, real estate ( 128 ), rental scam ( 87 ), Scams ( 1,384 ), US Army   

  Housing scams target incoming soldiers 

  

  By Greg Collier

  As soldiers prepare for a new chapter in their military careers, the excitement of moving is unfortunately being overshadowed by a wave of housing scams. Fort Carson, in Colorado, recently took to social media to alert the community about a troubling trend targeting incoming soldiers. The post warned of fraudulent online listings advertising available homes, leading to multiple reports of soldiers being scammed out of their money.

  The scam typically involves deceitful advertisements for rental properties. Soldiers, eager to secure housing, are asked to send deposit fees upfront to secure the home. However, upon arrival, they find the property is already occupied by its rightful owner, who never listed the home for rent. This distressing situation causes financial loss and creates significant stress and disruption for soldiers and their families.

  The Army emphasizes the importance of caution when searching for housing. They urge soldiers to utilize their official housing website, which offers reliable information about realtors and available housing options, both on-post and off-post. For soldiers planning a move to a new base, it’s essential to verify the legitimacy of any housing listings before making any financial commitments.

  Verify the information provided by landlords by cross-referencing with reputable real estate platforms and property management companies.

  Be wary if landlords refuse to meet in person or ask for unusual payment methods. Just because your current landlord accepts payments through an app doesn’t mean every user of that app is trustworthy. Payment apps like Cash App are meant for transactions between people you already know personally.

  If something feels off, trust your instincts and investigate further before making any agreements or payments. By reporting scams to the appropriate authorities, you protect yourself and help prevent future fraudulent activities.

   
• 

  Geebo 8:00 am on August 5, 2024 Permalink | Reply
  Tags: Scams ( 1,384 ), shipping containers ( 2 ), tiny home ( 2 )   

  Shipping container craze brings scams 

  

  By Greg Collier

  In recent years, shipping containers have become a popular choice in the tiny house movement due to their affordability, durability, and eco-friendly nature. These pre-fabricated steel structures offer a sturdy and weather-resistant shell, ideal for transforming into compact living spaces. Many people are drawn to shipping containers because they repurpose existing materials, reducing the need for new construction resources and contributing to sustainable living practices. Their uniform size and shape allow for creative architectural designs and flexible housing solutions in both urban and rural settings.

  Using shipping containers for tiny homes also presents several drawbacks. One significant concern is insulation; the steel walls of a container can make it challenging to maintain a comfortable indoor temperature without proper insulation, which can add to construction costs. Modifying a shipping container to include necessary amenities, such as plumbing and electricity, can be complex and may require professional assistance. Furthermore, not all areas have zoning regulations that accommodate container homes, potentially complicating the permitting process. However, if someone is still interested in converting a shipping container into a home, there is another potential pitfall to watch out for, scammers.

  As the demand for shipping containers increases, so do scams involving their sale and lease. The Pueblo County Sheriff’s Office (PCSO) in Colorado recently issued a warning about a scam where individuals falsely pose as businesses that lease or sell shipping containers. These scammers create fake listings and websites, often using photos of containers that don’t exist. They ask for payment upfront, promising delivery that never happens, leaving victims thousands of dollars out of pocket.

  The PCSO advises the community to be cautious and conduct thorough research before engaging with any company offering shipping containers. This includes searching for information on rating sites like the Better Business Bureau and studying the company’s website carefully. If a physical address is provided, it’s wise to verify it using Google Maps to ensure it is not an empty lot or residential address. Checking customer reviews on third-party sites can also help identify potential scams or dishonest business practices.

  Additionally, it’s crucial to be skeptical of extremely low prices and non-traditional payment methods. Scammers often employ aggressive sales tactics, creating urgency to prevent potential buyers from thinking through their decisions. If the seller refuses to allow you to see the product in person or insists on upfront payment, it’s likely a scam. By taking these precautions, you can protect yourself from falling victim to shipping container scams while exploring their innovative potential in the tiny house movement.

   
• 

  Geebo 8:00 am on August 2, 2024 Permalink | Reply
  Tags: kidnapping ( 10 ), Scams ( 1,384 ), virtual kidnapping ( 45 ), voice spoofing ( 21 )   

  Bank worker foils kidnapping scam for a mother 

  

  By Greg Collier

  Last week, a mother from Pasco, Washington, received a call that turned her world upside down. An unknown number informed her that her daughter had been kidnapped. It was only later that she realized this call, which appeared to come from a local number, was part of a sophisticated virtual scam. The scammers even allowed her to briefly ‘speak’ with her daughter. Although it is unclear how the kidnappers mimicked her daughter’s voice, it’s more than likely they used AI voice spoofing technology.

  Adding to the mother’s terror, the scammers threatened that if she attempted to call her daughter, they would harm her. Convinced that her daughter was in danger, the mother sent the kidnappers all the money she had, $600. But the demands didn’t stop there.

  The scammers coerced her into sending an additional $5,000 and directed her to a credit union to take out a loan. Thankfully, a vigilant employee at the credit union sensed something was amiss when they noticed someone on the phone claiming to have the woman’s daughter. The employee promptly alerted the police.

  As the mother remained on the line with the supposed kidnappers, the officer collaborated with the bank employees to obtain her address. Police arrived at her home to find her daughter safe and sound. The officer drove the daughter to the bank, where she and her mother were finally reunited.

  It’s important to recognize the signs of a virtual kidnapping scam. The calls do not originate from the alleged victim’s phone. Scammers strive to keep the target on the phone for extended periods and cannot answer simple questions about the person they claim to have kidnapped, such as their appearance.

  Anytime a stranger insists on keeping you on the phone, it’s a major red flag and likely an indication of a scam. Scammers rely on creating a sense of urgency and fear, preventing you from thinking clearly or seeking outside help. If you find yourself in such a situation, hang up immediately, verify the information independently, and reach out to local authorities.

   
• 

  Geebo 8:00 am on August 1, 2024 Permalink | Reply
  Tags: bank fraud ( 26 ), bank scam ( 72 ), Chase ( 14 ), impersonation scam ( 148 ), Scams ( 1,384 )   

  Couple recovers life savings after bank scam 

  

  By Greg Collier

  A retired couple from Buford, Georgia, has finally regained their life savings after falling victim to a sophisticated cyber scam. Their journey to justice was fraught with frustration and dead ends, but their perseverance has paid off.

  The scam began when the couple received text messages purportedly from their bank’s fraud department, warning that a debit card had been compromised. Concerned, they called the number provided, believing they were contacting Chase Bank. Instead, they unwittingly connected with scammers who, within 20 minutes, drained their bank account of nearly $50,000.

  Despite immediately reporting the fraudulent transaction, the couple was initially met with skepticism and dismissal. The bank claimed that they had either authorized the transactions or benefited from them.

  For months, the couple faced bureaucratic roadblocks. The police hadn’t assigned a detective to their case, and a federal watchdog group offered no assistance. The bank, meanwhile, considered the case closed.

  Frustration finally caught the attention of an assistant district attorney. With help, the case was brought to detectives who accessed the crucial phone records. These records revealed that scammers had called the bank, impersonating the couple and authorizing the large money transfers.

  The new evidence prompted the bank to conduct a third-party review, leading to the reversal of their previous decision. The stolen funds were restored to the couple’s account.

  If you ever find yourself in a similar situation, obtaining your phone records and presenting them to both the police and your bank can be crucial steps toward recovery.

  However, this case also raises important questions. Why do banks often accuse victims of benefiting from scams? Why does it frequently take media involvement before banks offer refunds to the victims? The journey to justice for scam victims should be more straightforward, highlighting the need for banks to prioritize customer protection and trust.

   
• 

  Geebo 8:00 am on July 31, 2024 Permalink | Reply
  Tags: Amazon ( 108 ), brushing scam ( 23 ), qr codes ( 8 ), Scams ( 1,384 )   

  New brushing scam adds QR code component 

  

  By Greg Collier

  The brushing scam is a type of fraud where sellers on e-commerce platforms, like Amazon, send unsolicited packages to individuals to create fake positive reviews. People receive packages containing random, inexpensive items they did not order. Scammers use the recipient’s name and address to create fake accounts, making it seem as though the recipient purchased the item. They then write positive reviews under these fake accounts, boosting the product’s ratings and visibility.

  This increase in visibility makes the product appear more popular and credible, which in turn increases its sales. Although the recipients of these packages are not directly financially affected, their personal information is being misused, which can be concerning.

  A police department in Georgia has reported that some scammers have added a more malicious twist to the brushing scam. According to the Thomasville Police Department, recipients not only receive random, inexpensive items, but also a QR code instructing them to register their new product. Scanning this QR code can download a malware virus onto your phone, giving scammers access to sensitive data stored on your device.

  If you receive an unexpected package, think twice before interacting with any included instructions or QR codes. Instead, change your account passwords immediately, as your information may have been compromised. Closely monitor your accounts and credit reports for any suspicious activity. Notify the authorities to report the scam. Lastly, try to inform the retailer about the fraudulent activity.

   
• 

  Geebo 8:00 am on July 30, 2024 Permalink | Reply
  Tags: artist scam, check scam ( 79 ), fake check ( 48 ), Scams ( 1,384 ), social media ( 81 )   

  Fake check scam hides behind ‘artist’ facade 

  

  By Greg Collier

  The fake check scam has been prevalent for decades. Scammers continually attempt to trick victims into depositing counterfeit or stolen checks into their bank accounts. After the check is deposited, the scammers request a portion of the money back, using various excuses.

  Our initial encounter with fake check scams was through the overpayment scam. In this scenario, online sellers post an item for sale on a marketplace website or app, and scammers send a counterfeit check for more than the asking price. The scammer then claims it was a mistake and asks for the ‘overpayment’ to be returned.

  In our view, the fake check scam is most commonly used in job scams. Typically, a fraudulent employer sends a check to the victim, instructing them to deposit it into their bank account. The victim is then told to use the money to buy supplies needed for the job. However, the supply vendor is also fake, resulting in the victim unwittingly giving the money back to the scammer.

  Unfortunately, most banks do not consider it their responsibility to wait for the check to fully process before making the funds available to the account holder. This often leaves scam victims owing their bank the full amount of the fake check.

  Recently, the Federal Trade Commission (FTC) issued a warning about a new tactic scammers are using to trick victims into depositing fake payments. This alert is warning consumers about an online scam involving an ‘artist’ who offers to pay you to paint your photo.

  The scam typically starts with a direct message on social media. You receive a compliment on one of your photos, and the sender expresses interest in painting it. They promise to send you a check in exchange for permission to use your image, which might seem flattering and harmless at first glance.

  Once you agree, the scammer sends you a check and instructs you to deposit it. You’re asked to set aside a portion of the funds to send back to the “artist” for supplies, with the assurance that you’ll keep the remainder. The scammer might even promise to reimburse you for any money you send back, making the offer seem even more enticing.

  Despite appearing legitimate, the check is fake. Initially, the funds may be deposited into your bank account, giving you a false sense of security. However, once you send money back to the scammer, you’ll soon discover that the check was counterfeit. This means you’ll be out of the money you sent, and the funds from the fake check will be withdrawn from your account.

  If someone you don’t know reaches out with an offer that seems too good to be true, it probably is. Be cautious of any requests involving checks and money transfers. If something feels off about the communication, trust your instincts. Scammers often use charm and flattery to gain your trust.

   
• 

  Geebo 8:00 am on July 29, 2024 Permalink | Reply
  Tags: bitcoin ( 32 ), bitcoin atm ( 25 ), court ruling, scam protection, Scams ( 1,384 )   

  Court ruling lessens scam protections 

  

  By Greg Collier

  Bitcoin scams have been a persistent threat for years, but a recent Wake County, North Carolina, court ruling has made the need to protect yourself even more crucial. The decision has complicated the recovery of money lost in scams, leaving victims with fewer options to reclaim their funds.

  The court ruling has effectively taken away a critical tool for recovering money from Bitcoin scams. Until recently, law enforcement agencies could seize funds deposited in Bitcoin ATMs if they were suspected to be part of a scam. However, a judge has now ruled that once cash is deposited into these machines in exchange for Bitcoin, the ATM owner becomes the lawful owner of the cash. Although the cash can still be seized as evidence of a crime, the statute does not support returning the currency to the victim. This ruling has significant implications for scam victims, making similar recoveries more challenging in the future.

  With the possibility of recovering funds now diminished, it is more important than ever to recognize and avoid scams before they happen. It’s essential to understand that no government agency or credible business will ask you to deposit money into a Bitcoin ATM or pay with cryptocurrency. Such requests should be treated as red flags.

  Scammers often create a sense of urgency to pressure victims into making hasty decisions. If you receive a call or message claiming you need to act immediately to protect your funds, take a step back and verify the information independently. Always verify the identity of the person or organization contacting you by using official channels and contact information to confirm whether the request is legitimate.

  Staying informed about the latest scams and sharing information with friends and family, especially those who may be more vulnerable, can also help protect against these threats.

  The recent court ruling in Wake County underscores the importance of protecting yourself from Bitcoin scams. With fewer recovery options available, prevention is the best defense. By staying informed and cautious, you can reduce the risk of falling victim to these increasingly sophisticated scams.