Money fraud has several types and variants. The criminal gangs that operate these scams are based in many countries. They closely monitor trends that can affect their scam operations. This is why they constantly improve their existing schemes and create new tactics to victimize more users worldwide.
There are more online scam incidents than ever before. In the USA, more than 800 monthly scam cases were filed by users during the first half of this year. A lot of these reports and complaints were against money fraud and ecommerce scams.
This also shows a 30% increase from the 600 monthly Web crime reports that were filed last year in the USA. This signifies an alarming growth in the number of victims of cyber fraud in the country.
- Money Fraud and Ecommerce Scams This Year
Money fraud is an important component in many ecommerce scams that are operated by these criminal syndicates. The most widespread scheme that these fraudsters use is to pose as interested buyers of certain products from micro to small vendors and ecommerce merchants.
What they do is tell these vendors that they’ll write them a check to purchase the products that they want from them. These scammers make up all sorts of alibis to carry out these money fraud and scams, and their favorite according to many user complaints posted in BigScammers.Com against these scams is to tell these vendors that they won’t be in town for the next couple of weeks or so.
A few minutes or so after these scammers send out the checks to these vendors, they contact the vendor and tell them that they’ve made an error in the amount. Of course, this error is always a higher amount than the original purchase price of the products that they want from the vendor. For example, if the scammer is feigning interest in a $100 product, then the so-called erroneous amount that these scammers usually write in these checks is said to normally be around $1,000 or more.
They then convince the vendor to just send back cash that amounts to the difference. To convince more vendors, many of these fraudsters try to entice them with a considerable cut in the change. That’s why many vendors unknowingly participate in these money fraud and scams.
That’s also how criminal syndicates combine ecommerce scams with money fraud. They’ll do everything to rake in more money from their scams.
You should be notified about the latest tactics and schemes that are used by criminal syndicates. This can allow you to prepare and properly defend yourself against scams. You can do this by signing up to get BigScammers.Com fraud alerts in real time. These are sent to your email whenever a user posts in BigScammers.Com a complaint against a latest online scam.