While internet is considered to be the most significant tool in today’s information overload era, it is also a platform where thousands of scams take place every day. Many popular types that prevailed on the web for many years, and are still operating, include Bank Scams.
One famous story that looted numerous people was: The sender of the email, who addresses himself a government official, or relative or wife of a Nigerian tyrant, describes a sad tale of how millions were deposited into a bank account and now lay useless because the account cannot be accessed. However, if you, the recipient, are ready to help him, you can get a big chunk of the inaccessible treasure of millions of dollars. Usually this help means transferring few thousands to their account. This sounds quite ridiculous and very phony for someone to believe.
However, thousands of internet users fell for this type of internet scam and lost their savings.
Another type of internet scam is the one that promises massive returns on small investment. You are assured that the money is risk free as it is not invested in any of the financial markets. However, you don’t get any returns, not even a penny from your principal amount, once you invest in this scheme.
People with bad credit usually fall for scams that offer credit card at lower interest rates even though their score is ruined. They ask for a security deposit and some administrative fees. Within a period of 10 days, dispatch time according to them, you get lots of…. nothing.
Another infamous scheme is a multilevel marketing plan. You are urged to purchase a product, usually very expensive, with which you can start a chain of sellers under you ensuring high amount of commission every month. As soon as you pay for the product, you find no traces of the company’s existence. Let alone the commission, you wouldn’t even receive the product or service you paid for.
A golden rule to avoid being a victim is just ignoring these plans and benefits offered by them. Delete such mails as soon as you receive them and do not reply to such spasm. And the most important rule, do not, at any cost, give out your personal information like your name surname and date of birth, your credit card number or bank account details. Also, do not enter your password in an email; no financial will ask for such details expect for on their websites.