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Watch Out For Scams

By Sandy Naidu | July 9, 2008

I recently came across an interesting website called ScamWatch - this site is run by Australian Competition and Consumer Commission (ACCC) and aims to provide information to common people and small business owners about how to recognise and avoid scams. Most of us have probably received emails from Iraqi and Nigerian citizens who promise to transfer millions into our accounts…Fortunately these emails read ‘SCAM’ all over and so most of us have been able to protect ourselves…But unfortunately not all scams are that obvious.

This website is full of true stories about how people are being scammed - these stories are not obvious scams. It is very easy for people to become victims. Here are two examples:

1. Death Scam - People are sent messages that they have been hired to kill them and will do so unless they pay them a ransom. A lot of people have become victims to this one…

2. Listing Scam - This one targets the busy white collar professionals like doctors and solicitors..They basically get renewal letters for magazines and websites - they intentionally put some false information abut the professional on this letter (like misspelling surname)- a lot of these professionals correct the information, sign and send it back - the professionals only intended to correct the information but by signing they have unknowingly paid hundreds or even thousands of dollars for some sort of subscription (its all in the fine print).

There are heaps of true stories and information on the site…Interesting but a sad read. Visit and keep yourself informed. And if you have been ever scammed drop by at the site and report it so that others can benefit from your experience.

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Topics: Financial Topics |

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