Scams and Schemes to Watch Out For


Nigerian Money Scam: You are contacted by someone from Nigeria and ofered millions of dollars if you will transfer money from a foreign bank to your bank account for safekeeping. When you agree, you are asked to pay huge transfer fees or legal expenses but receive no money.

Prize and Sweepstakes Scam: You are told that you have won a fabulous prize but must buy something or pay taxes up front in order to claim it. The prize is a cheap trinket, worth far less than the money you paid to claim it.

Foreign Lotteries Scam: You are offered tickets to enter a foreign lottery and send money, but either the lottery doesn’t exist or the tickets never arrive. It is illegal to promote a foreign lottery by telephone or mail in theUnited   States.

Pyramids and Multilevel Marketing: For a fee, you are promised big profits in exchange for recruiting new members. Plans that promise profits for recruitment of members rather than for selling goods and services are illegal and usually collapse.

Scholarship Scams: A company guarantees scholarship money for an upfront fee, but it only helps locate scholarships rather than awarding them.

Charity Scams: A natural disaster is dominating the news and you get a letter/email/phone call asking you to donate funds to help its victims. You send money, but the victims never receive your donation or receive only a tiny portion—the rest goes to cover administrative costs like salaries.
Bogus Merchandise Sales: You purchase something advertised for sale on the Internet or through a telemarketing call. You pay for the merchandise but never receive it or receive an inferior or counterfeit product in its place.

Telephone Cramming: Unauthorized charges for goods or services appear on your phone bill, but you miss seeing them because your phone bill is complicated with authorized charges such as voice mail and Internet service.

Telephone Slamming: Your telephone service is switched from your current company to another one without your knowledge or permission, resulting in higher charges for long distance and other services.

Note: Linear Output is Thankful to Merchants Bank of Vermont for letting us know about the Scams and Schemes to us and all our valued clients and readers.

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