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  • Geebo 8:00 am on May 31, 2024 Permalink | Reply
    Tags: contract for deed, , , Scams   

    Avoiding risky home-buying practices 

    Avoiding risky home-buying practices

    By Greg Collier

    For those navigating the home-buying market, it’s crucial to be aware of potential pitfalls, particularly when considering a ‘contract for deed.’ This method involves an agreement where the home buyer makes payments over time directly to the seller, rather than securing a traditional mortgage. While this can seem like an attractive option, it carries significant risks.

    The primary concern with a ‘contract for deed’ is the reduced level of protection for buyers compared to standard mortgages. This makes it easier for unscrupulous individuals to exploit the situation. Minnesota’s Attorney General has issued a warning, emphasizing the need for caution and understanding when entering into such contracts. It is essential to fully understand the terms of a ‘contract for deed’ and to be aware of your rights and responsibilities before signing.

    Ensure that the seller has paid the home’s property taxes and that the property is not in foreclosure. Unpaid taxes or foreclosure status can lead to serious complications down the line.

    Determine if the contract includes a balloon payment, and if so, understand the amount and due date. This lump sum payment can catch buyers off guard and create financial strain.

    Before entering into a contract, have a clear plan to pay off the entire amount. Additionally, account for annual property taxes and maintenance costs.

    Obtain a professional home appraisal and inspection. This step ensures you are not overpaying and that the property is in good condition.

    Be prepared to handle repair costs, property taxes, and general upkeep once the contract is signed. These expenses can add up quickly and need to be factored into your budget.

    Check the interest rate being charged by the seller and compare it with rates from lenders. Ensuring the rate is competitive can save you money in the long run.

    Record the contract with the county recorder’s office within four months of signing. This step may provide additional protections under the law.

    If you find yourself a victim of a scam, report it immediately. Many individuals feel ashamed when they realize they have been scammed, but remember that con artists are skilled professionals. Reporting these incidents helps protect others and can prevent future scams.

    In summary, while a ‘contract for deed’ might seem like a viable alternative to traditional home financing, it comes with substantial risks. Thoroughly understanding the contract and being cautious about the details can help you avoid potential pitfalls and make informed decisions in your home-buying journey.

     

  • Geebo 8:02 am on May 30, 2024 Permalink | Reply
    Tags: , , Scams, ,   

    Below-market vehicle deals are a growing scam 

    Below-market vehicle deals are a growing scam

    By Greg Collier

    In recent times, there has been a noticeable increase in scams involving the sale of stolen vehicles online. These fraudulent schemes often take place on popular platforms like Facebook Marketplace and Craigslist. The common thread among these scams is the suspiciously low price tag on the vehicles, which is significantly below their actual market value.

    The scam operates in a deceptive yet sophisticated manner. Criminals acquire a stolen vehicle and then search for another car with the same make, model, and similar mileage. They use the legitimate vehicle’s details to create a counterfeit VIN (Vehicle Identification Number) sticker, which is then applied to the stolen car. This fake VIN gives the vehicle a seemingly clean history, making it appear legitimate to unsuspecting buyers.

    Potential buyers are lured in by what they perceive to be an incredible deal. The vehicle’s history appears spotless, with no indication that it has been stolen. However, the reality of the situation becomes apparent only after the purchase is complete. Once the buyer discovers that the vehicle is stolen, they face the harsh truth that the car must be returned to its rightful owner or the insurance company. This leaves the buyer without the vehicle and out of the money they spent.

    The Arkansas Department of Finance and Administration (DFA) has issued several warnings regarding this scam. According to the DFA, the largest red flag is the vehicle being sold for cash only at a price significantly lower than its actual value. Most recently, scammers have been targeting newer model pickup trucks, offering them for tens of thousands of dollars below retail value.

    The DFA advises buyers to exercise caution when searching for vehicles on these sites. Here are some key tips to avoid falling victim to this scam. Always verify the vehicle’s history through reliable sources. Be suspicious of any discrepancies or missing information. Legitimate sellers are usually open to various forms of payment. Insistence on cash transactions can be a red flag.

    Ensure the VIN on the vehicle matches the one on the title and other documents. Check for signs of tampering or replacement stickers. Consider using professional services to inspect the vehicle and verify its legitimacy before completing the purchase.

    By following these guidelines, buyers can better protect themselves from falling victim to these fraudulent activities. While online platforms offer the convenience of purchasing vehicles, they also present opportunities for scammers. Staying informed and cautious can help prevent unfortunate and costly mistakes.

    In summary, the public is urged to remain cautious when encountering seemingly fantastic deals on vehicles. Performing due diligence and recognizing the warning signs can save buyers from the pitfalls of this growing scam.

     

  • Geebo 8:00 am on May 29, 2024 Permalink | Reply
    Tags: , , , Scams,   

    Victim loses $1 million to pop-up scam 

    Victim loses $1 million to pop-up scam

    By Greg Collier

    An intricate scam is currently affecting residents in Kansas City, Missouri, leading to significant financial losses. The local police department has issued a public warning after at least one individual lost over $1 million due to this fraudulent scheme.

    The scam initiates with a deceptive pop-up message appearing on a computer screen. This message falsely claims that the device is malfunctioning and provides a phone number for supposed tech support. When the number is dialed, the person on the other end asserts that the victim’s computer and financial information have been compromised.

    To make the situation appear legitimate, another scammer impersonates a government official. This imposter instructs the victim to liquidate their assets into gold bars or transfer funds to a Bitcoin ATM. Adding another layer of deception, the scammers offer to send a courier to collect the gold, claiming it is for asset safeguarding.

    The reported victims of this scam are all between the ages of 65 and 80, making seniors particularly vulnerable to such schemes.

    Local detectives are not working in isolation. They are collaborating with various law enforcement agencies across the country to identify and apprehend those responsible for this scam.

    If you encounter this fraudulent activity but have not experienced financial loss, it is crucial to report it to the Internet Crime Complaint Center at https://ic3.gov. Those who have fallen victim to this scam and lost funds should immediately contact their local police department for assistance.

    Be cautious of unexpected pop-up messages claiming that your computer is facing issues. Avoid calling phone numbers or following instructions provided in such pop-ups. Always verify the information through official or known channels. Never transfer money or assets based on instructions from unsolicited messages or calls. Before taking any action suggested by unexpected alerts, consult a trusted friend or family member who is more technically knowledgeable.

    By understanding the details of this scam and taking appropriate preventive measures, residents can protect themselves from falling prey to such deceptive tactics. Reporting any suspicious activity helps law enforcement agencies track and shut down these fraudulent operations, safeguarding the community from further harm.

     

  • Geebo 8:00 am on May 28, 2024 Permalink | Reply
    Tags: , , , Scams   

    Unwanted deliveries: A twist in Amazon scams 

    By Greg Collier

    This spring, a concerning trend is on the rise, catching many Amazon customers off guard: receiving packages they never ordered. What might initially seem like a harmless mistake is, in fact, part of a more insidious scam that is becoming increasingly pervasive.

    For many, it starts with an unexpected delivery. It could be anything from patio chair cushions to child’s toys arriving unannounced on your doorstep. This might sound like an innocuous inconvenience, but for some, it’s much more than that.

    Take, for example, a disabled veteran who is finding these unsolicited deliveries particularly burdensome. Receiving numerous boxes that he struggles to move due to his condition has turned a minor nuisance into a significant hassle. The items range from patio chair cushions to various fabric-related products, cluttering his home and adding unnecessary stress to his daily life.

    This situation isn’t unique. Another individual experienced a similar issue, receiving a calligraphy pen and even a child’s scooter, all without ordering them. This phenomenon is known as the brushing scam. It’s an attempt by unscrupulous third-party sellers to boost their ratings on Amazon by sending out unsolicited items to unsuspecting individuals. By doing so, they can post fake positive reviews to bolster their product’s visibility and credibility.

    According to the Better Business Bureau (BBB), this is not an isolated incident. They have received reports from thousands of people across the country experiencing these random deliveries. The items sent can be bizarre and varied, making it clear that these packages are not simply misplaced orders but part of a calculated strategy.

    While it might be tempting to dismiss this as a victimless crime, the reality is more concerning. The very fact that these scammers have access to your name and address indicates that your personal information is in the wrong hands. This should not be taken lightly.

    Here’s what you should do if you find yourself on the receiving end of this scam. Contact Amazon or the respective retailer to inform them about the unsolicited items. Immediately update your password for the site to enhance your account’s security. You should also enable two-factor authentication, as this provides an extra layer of security to your account.

    Remember, legally, you are not obligated to return these deliveries. However, reporting them to Amazon’s fraud website is a prudent step. This helps prevent further misuse of your information and ensures you are not mistakenly charged for items you never ordered.

    In conclusion, while receiving unexpected packages might seem like a minor inconvenience, it is part of a larger, more troubling scheme. By taking the necessary precautions and staying informed, you can protect your personal information and help curb this growing threat.

     

  • Geebo 8:00 am on May 24, 2024 Permalink | Reply
    Tags: , , Scams   

    Navigating the rise in puppy scams 

    By Greg Collier

    The joy of welcoming a new furry friend into the family can quickly turn to heartbreak when faced with deceitful online puppy scams. These fraudulent schemes are on the rise across the nation, leading to significant financial and emotional losses for countless hopeful pet owners. According to the Better Business Bureau, nearly $2 million was lost to these scams in 2022 alone, with an average loss of $850 per family or individual.

    The tactics used by these scammers are particularly insidious, as they prey on the emotional bonds prospective pet owners form with the animals they believe they are purchasing. A recent incident involving a Louisiana family highlights the devastating impact of these scams and underscores the importance of being cautious when searching for a new pet online.

    After losing their beloved pet, the family decided it was time to bring a new puppy into their lives. They turned to an online breeder they found in a Facebook group, drawn by positive reviews and an attractive price of $500. Initially, everything seemed legitimate. The breeder communicated regularly and provided testimonials from other satisfied customers.

    However, the situation quickly changed. The breeder informed the family that the puppy needed to be transported from Houston with a personal pet nanny, requiring an additional $150. Then, the story shifted again. The breeder claimed the dog needed to be flown in a climate-controlled aircraft, a significantly more expensive option. As the demands for more money grew, the breeder’s communication became increasingly uncooperative, sending only blurry photos and videos that raised further suspicions.

    Realizing they had been scammed, the family ultimately lost $650. This experience is, unfortunately, all too common. Scammers rely on the emotional investment of their victims, using it to manipulate and extract more money.

    To help others avoid falling victim to similar schemes, the Better Business Bureau (BBB) offers some practical advice. Whenever possible, work with local breeders you can visit in person or consider adopting from local animal organizations. This reduces the risk of falling for an online scam and allows you to see the living conditions and care provided to the animals.

     

  • Geebo 8:00 am on May 23, 2024 Permalink | Reply
    Tags: , , , Scams,   

    Fake job offers targeting college students 

    By Greg Collier

    In the heart of North Carolina, a college student’s promising summer opportunity turned into a financial nightmare. The student, nearing the completion of her junior year at North Carolina A&T, received what seemed to be a golden opportunity via email. She was offered a paid research position with a weekly salary of $450. The email appeared legitimate, even mentioning a real professor’s name and containing the university’s logo, which made the offer seem trustworthy.

    Despite her attempts to verify the legitimacy of the opportunity, the student fell victim to an elaborate scam. After being “hired,” she received a check for $2,400, purportedly for office supplies necessary for the remote research role. Following instructions, she deposited the check and transferred the money through the payment app Zelle to a supposed sales representative who would provide the supplies. It wasn’t until her bank notified her that the check was fake that she realized she had been swindled. Now, she faces a $2,400 debt to the bank, with no recourse to recover the funds.

    This incident highlights a recurring issue that continues to affect students not only at North Carolina A&T but across the nation. The scam, which impersonates faculty members and advertises too-good-to-be-true job offers, preys on students’ aspirations and financial vulnerabilities.

    To protect against such scams, there are several key warning signs to watch for.

    Genuine job opportunities typically require a formal application process, including interviews. Be wary of offers that come out of the blue, especially if they promise high pay with minimal effort.

    Scrutinize the sender’s email address. In the student’s case, the scammer used a generic email provider rather than an official university address ending in .edu. This is a significant red flag.

    If a job offer involves sending money to a third party or purchasing supplies upfront, it’s likely a scam. Legitimate employers provide the necessary resources directly or reimburse expenses through official channels.

    Scammers often create a sense of urgency, pushing targets to act quickly without due diligence. Take your time to verify any offer thoroughly before committing.

    Students should also be aware of resources available to them for verifying job offers. Universities often provide career services that can help students validate employment opportunities. Additionally, students can report suspicious job offers to their university’s IT department or the Better Business Bureau.

     

  • Geebo 8:00 am on May 22, 2024 Permalink | Reply
    Tags: , , , Scams,   

    A Microsoft employee is not coming to your home to collect money 

    A Microsoft employee is not coming to your home

    By Greg Collier

    For years, scams thrived in the digital shadows, but the landscape is shifting. Traditionally safe havens like our homes are no longer immune, with a troubling rise in scammers taking a physical approach. Preying on the vulnerable and unsuspecting, these fraudsters are turning up on doorsteps, demanding cash or valuables under false pretenses. This aggressive tactic adds a frightening new layer to the ever-evolving world of scams. These personal invasions intensify the financial impact and significantly heightens the emotional distress experienced by the victims.

    For example, a new and particularly insidious fraud scam has emerged in Asheville, North Carolina, catching the attention of both local law enforcement and cybersecurity experts. According to the Asheville Police Department (APD), suspects are now posing as Microsoft employees after hacking into victims’ personal computers. This scam stands out due to its in-person element, which is becoming less of a rarity in the realm of fraud.

    The scheme typically begins with a pop-up message on the victim’s computer, falsely claiming that the system has been locked or frozen. The message prompts the victim to call a number purportedly linked to Microsoft. Once contact is made, the scammers, posing as Microsoft representatives, instruct the victims to withdraw cash from their bank accounts. In a bold escalation, an individual claiming to be a Microsoft employee then arrives at the victim’s residence to collect the money, setting this scam apart from more common remote fraud tactics.

    Microsoft, along with other large technology companies, does not send representatives to individuals’ homes to collect payments or resolve technical issues. These companies operate through official communication channels such as verified emails, phone calls from authenticated support centers, and secure online platforms. Any request for personal information, financial details, or payments through home visits is not a legitimate practice of these companies.

    Never trust unsolicited tech support calls or pop-ups. Verify company representatives directly. If someone claims to be from Microsoft (or any other company), don’t give out personal information or money. Look up the company’s official contact details and reach out directly.

    The emergence of scammers coming directly to victims’ homes introduces a new level of danger and urgency in combating fraud. This approach not only threatens financial security, but also poses significant personal safety risks. Allowing an unknown individual into one’s home under false pretenses can lead to confrontational or even violent encounters. It is crucial to remain cautious and skeptical of any unexpected visitors claiming to represent companies or requesting personal information.

     

  • Geebo 8:00 am on May 21, 2024 Permalink | Reply
    Tags: , , , Scams, traffic accident   

    Police impersonators target new victims 

    Police impersonators target new victims

    By Greg Collier

    As we’ve mentioned before, scams can be likened to living organisms, constantly evolving into more sophisticated schemes. One prime example is the police impersonation scam. The most common variant of this is the jury duty scam, where scammers pose as local police officers and inform victims of a supposed arrest warrant for missing jury duty. The victims are then coerced into making payments to avoid arrest. Recently, a new iteration of the police impersonation scam has emerged, targeting a very specific group of individuals.

    In the aftermath of car accidents, the last thing one expects is to become a target for scammers. Yet, this is a stark reality for many unsuspecting individuals. A recent scam has surfaced in Wake Forest, North Carolina, preying on those involved in car crashes, exploiting their desire to settle matters quickly and lawfully.

    The scam is simple yet effective. One victim received a call claiming to be from the Wake Forest Police Department. Scammers obtain personal details, possibly from public records, about recent car accidents.
    They then contact victims, referencing the accident and using stolen information to appear genuine.
    The scammer invents a story, like a missed court date, and pressures the victim to send money immediately to resolve the issue.

    The most alarming aspect of this scam is the request for payment through cash apps to settle supposed missed court dates or fines. This should raise immediate red flags, as no legitimate law enforcement agency would ever solicit fines or warrant payments via such methods. In this instance, the victim lost $400 to the scammers.

    If you receive a call about a supposed legal issue related to a car accident, be cautious. If unsure, ask for the caller’s name, badge number, and department. Verify the information by calling the police department directly, not using any numbers provided by the caller.

     

  • Geebo 8:00 am on May 20, 2024 Permalink | Reply
    Tags: , , , , Scams,   

    Couple loses $70,000 to social media crypto scam 

    By Greg Collier

    In the era of digital currencies and online investments, the allure of quick profits can sometimes overshadow the need for caution. This is a lesson painfully learned by a Durham, North Carolina, couple who found themselves scammed out of more than $70,000 over six months. The couple’s ordeal began innocently enough, with the hopes of funding home improvements and purchasing a new car, but it quickly turned into a financial nightmare.

    The story starts when they discovered a supposed investment opportunity through social media posts. These posts, which appeared to be from a relative, showcased luxurious purchases supposedly made through Bitcoin mining transactions. Intrigued and optimistic, they decided to explore this investment further, envisioning it as a pathway to achieve some of their financial goals.

    After clicking on a link in one of these posts, they were contacted via Instagram by someone claiming to be an investment coach. This individual guided them through the initial steps of investing, starting with a $3,500 investment. To their delight, the supposed profits appeared to skyrocket in a short period, jumping from $3,500 to an astounding $54,000. This seemingly successful outcome encouraged further investments.

    Throughout several months, 0they diligently deposited thousands of dollars into a Bitcoin ATM, all the while receiving messages from the investment coach indicating their funds were growing significantly. At one point, their account purportedly held over $159,000. However, when they attempted to withdraw the funds, the situation took a dark turn.

    They were informed that a cash carrier would deliver the funds in person, but this delivery never occurred. Suspicion grew, and a visit to the bank revealed even more alarming news. Scammers had gained access to the couple’s bank account, initiating numerous unauthorized transactions to Cash App accounts created in their names.

    The couple had never set up these Cash App accounts and were unaware of the transactions until the bank informed them. They traced the breach back to the information they had provided while setting up their online investment profile, which included sensitive personal and banking details. This data allowed the scammer to open the fraudulent Cash App accounts and siphon away their money.

    Despite reporting the fraud to both their bank and the police, the couple was informed that the stolen $70,000 was unrecoverable.

    They later discovered that the relative whose posts had initially inspired the investment was also a victim. Their social media account had been hacked, and the posts were part of the scammers’ strategy to deceive friends and family.

    This unfortunate experience highlights a crucial lesson: social media is no place to seek or take financial advice. The platforms are rife with misinformation, deceptive schemes, and fraudulent accounts designed to exploit the unwary. Investment opportunities touted through social media should be approached with extreme caution and thoroughly vetted through reputable financial advisors and verified sources. Always remember that if something seems too good to be true, it probably is. Protecting your financial well-being means staying informed, skeptical, and vigilant against the ever-evolving tactics of scammers.

     

  • Geebo 8:00 am on May 17, 2024 Permalink | Reply
    Tags: , , , medical identity theft, Scams   

    Medical identity theft prevents crucial treatment 

    Medical identity theft prevents crucial treatment

    By Greg Collier

    Imagine receiving a cancer diagnosis, only to discover that your path to treatment is obstructed by an identity theft scam. This was the reality for a patient at a free clinic in Brevard County, Florida. She had canceled her legitimate health insurance because she couldn’t afford the copays, and was depending on the clinic’s partnership with a top-tier cancer hospital to access the necessary care through an indigent care program.

    When the clinic attempted to enroll her in the hospital’s financial assistance program, they discovered that someone had stolen her social security number and taken out a fraudulent insurance policy in her name. This policy was used by the scammer to earn a commission, with the premiums being paid using a tax credit and sent to a fake address. As a result, the hospital’s system showed she already had insurance, disqualifying her from the assistance program she desperately needed.

    The fraudulent policy cost the patient precious time. She went months without any cancer treatment, a critical period when early intervention is paramount. The volunteer-led clinic realized the extent of the problem and sought help from the cancer hospital. However, the fraudulent policy blocked this route.

    Upon uncovering the scam, the clinic’s director filed a fraud report and managed to get the fake policy canceled. They are now working diligently to expedite her access to the cancer treatment she needs. Despite this progress, the delay has already had serious implications for her health.

    Medical identity theft can be difficult to prevent entirely, especially for those who are already vulnerable. However, there are several proactive steps individuals can take to help protect themselves from such scams.

    Request a copy of your medical records annually from your healthcare providers to ensure there are no inaccuracies or unfamiliar services listed. Shred documents containing personal information, such as medical bills, insurance statements, and other records that include your SSN or medical details. If contacted by someone claiming to be from a healthcare provider or insurance company, verify their identity by calling the organization directly using a known phone number. Carefully review any Explanation of Benefits (EOB) statements you receive from your insurance provider. Look for unfamiliar services or charges and report any discrepancies immediately.

    By taking these precautions, individuals can significantly reduce the risk of becoming victims of medical identity theft and be better prepared to address any issues swiftly if they arise.

     

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