How To Avoid Money Scammers - Top 10 Money Scams

Pyramid Schemes. Pyramid schemes work by having hundreds of people invest a little bit of money and then getting them to recruit new sign ups. Each new sign up then pays YOU in order to be part of the scheme. They don’t work, they’re illegal and eventually you run out of people to scam.

Phishing. These are the scam emails you get from your ‘bank’s’ security division asking for your login information. Remember that no banks ever ask you for your login information. Once the scammers obtain your username and password they steal all your money.

Fake Business Opportunities. This scam works by offering you a franchise or business idea in exchange for large fees. The hook is that you can run the business from the comfort of your own home.

Investment Fraud. Professional sales scam artists give you a call and offer you share investments that are way overpriced, and which you’re never able to re sell. You easily lose tens of thousands of dollars.

Fake Job Offers. You find a job offer that’s too good to be true where you work about an hour a day for a high salary. The scam is that the application form costs money. Once you send in the application form with your cash payment, you’ll find out that the job doesn’t exist.

Bounced Checks. If you’re selling something beware of money scam artists! For example, you’re selling your car and someone sends you a bank certified check for your asking price. Once your car has been taken away you go to the bank only to find that the cheque is a forgery.

Work From Home Scams.

Racing Tipsters. These scammers claim to guarantee tips in return for a fee, but really, you’ll never see your money ever again.

Fake Foreign Lotteries. You receive a letter in the mail telling you you’ve won the lottery in another country. In order to get your cash unlocked you need to send some money. There is no real lottery and you lose your money.

Dating Website Money Scams. A scammer in another country claims to be in love with you online after building a relationship for a few months via email and phone conversations. Eventually, once you really trust the person on the other side, they claim that they want to come visit you but they don’t have enough money for a flight. You send them money to book a flight and never hear from them again.