Scams & Frauds
Scams and Frauds are used interchangebly in many instances but they are bit different in their own way. With the Internet usage being common in many households, many crooks and culprits use this window to get in wearing a false mask to trap the people in scams and fraud. Identity Theft is one of the biggest problem with these scams and frauds.Through the news, you may have heard of unscrupulous individuals who are busy developing new scams for the unsuspecting public. Awareness and education are your best protection against fraud, scams, and schemes,
Lets understand and learn few things about Scam and Frauds.
What is a Scam?
A scam is usually something that deprives you of money or opportunity. Scammer use your need for making more money and use the opportunity to sell a product or service. These days Scammers are more sophisticated and use the Internet in a number of ways to promote scams. The basic rule of thumb is that if something seems too good to be true it probably is!
What is a Fraud?
In criminal law, fraud is the crime or offense of deliberately deceiving another in order to damage them – usually, to obtain property or services unjustly. Fraud can be accomplished through the aid of forged objects. In the criminal law of common law jurisdictions it may be called "theft by deception," "larceny by trick," "larceny by fraud and deception," or something similar.
There are different varieties of Fraud and Scams which unfolds especially during the bad economic times. Check out the old list of scams and frauds to be keep abrust and more recent ones.
What is Ponzi Scheme?
A Ponzi scheme is a fraudulent investment operation that pays returns to investors from their own money or money paid by subsequent investors rather than from profit.
The Ponzi scheme usually offers abnormally high short-term returns in order to entice new investors. The perpetuation of the high returns that a Ponzi scheme advertises and pays requires an ever-increasing flow of money from investors in order to keep the scheme going.
To read more, visit moneyreallymatters.com