ST.JOHN'S Antigua, June 5th, 2012 -- The Office of National Drug and Money Laundering Control Policy (ONDCP) have recognized that over the past 18 – 24 months, there has been an alarming increase of reported fraudulent financial scams. Many of these scams appear to have been initiated via the internet.
Unsolicited emails, Facebook, MSN Messenger and Text Messages have been a few of the electronic media being used to deliver the scams. The targets of these scams have been diverse and have included private individuals, attorneys-at-law and business firms.
Many of the cases reviewed will appear to the inexperienced individual to be a valid income generating activity and in these financially challenging times, it is not difficult to see that persons can easily fall victims of these scams.
The scams identified to date include:
Advance Fee Schemes
Advance Accommodation Booking Schemes
Investment Schemes
Debt Collection Scam
Cheque Cashing Schemes
Online Banking Scam
Wire Transfer Schemes
Marriage Proposal Scam
Although some of the cases reviewed were unsuccessful due to early detection, a few have resulted in financial losses to the victims. Additionally, our efforts to trace the perpetrators of the scams have been arduous as they often mask their true identity by utilizing financial conduits and services which offer higher levels of anonymity.
Many of the scams are not new; they are actually old scams with new variations and when coupled with the use of new and emerging technologies, victims fail to recognize the fraud for what they really are.
Individuals, businesses and professionals are therefore urged to be more vigilant when contacted with offers that “appear too good to be true”.
We recommend the adoption of the following measures to avoid becoming a victim of a fraud scheme.
Know who you are dealing with. If you have not heard of a person or company that you intend to do business with, learn more about them. Consult with your bank, an attorney, or law-enforcement.
Be wary of persons who provide extravagant stories followed with a mutually beneficial offer.
Make sure you fully understand any business agreement that you enter into.
Be wary of businesses that operate out of post office boxes or do not have a street address.
Be suspicious when dealing with persons who do not have a direct telephone line and who are never in when you call, but always return your call later.
Be wary of business deals that require your banking or other personal data.
Indications are that there are persons who have been victims of online / electronic fraud but have failed to report the matter out of a sense of embarrassment. Such individuals are encouraged to report cases of financial loss relating to online or electronic fraud to the ONDCP or the police.
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