How does Magazine fraud work? Let us Find out.

 

You might wonder, scams and frauds only happen on very top level, we are safe that way.Big companies are involved in scams worth millions like Horizon Energy and their Key Management Person Hussan Suheil were charged in fraud case. Even might assume that frauds only happen with digital money involved not something as small as newspapers or magazine scam. You’re mislead on that one, its seems small scale that’s why its done on massive volume, stealing 100k from 10 people would red flag authorities now imagine 5$dollars from 100kpeople now since its small amount everyone overlooks and the criminals get away with hefty amount of money.

Luckily this has come under attention of police, they have issued warnings on such frauds. Police have issued some guidelines to look out for to avoid getting scammed in such frauds.

 

Consumer Reports, that was among those magazines being supplied, worked with different publishers and also the attorney general's office to encourage the suit.

The mailings gave readers the misleading belief they were offered among the lowest prices offered for the book. In fact, many were charged more than double the subscription fee billed directly by the books, James alleged, using Orbital pocketing the difference oftentimes.

So lets see the steps you can take to protect yourself from such frauds do let us know if this happened with you and how you tackled the situation:

 

Guarding Against Fraud

 

If you get a magazine or newspaper subscription offer in the mail, shield yourself from a potential scam by taking these steps:

 

• Verify new subscription offers. Whether the pitches seem to come straight from the publisher or from a third-party seller, take the time to look at their validity by going to the publisher's site or calling. (CR provides tips on avoiding scams on its own site.) You can also do an internet search with the name of third party vendors, which may find complaints.

• Look carefully at the details in renewal offers. If the offer is for a renewal of an existing subscription, then it should include your subscription number and expiry date, which should match the one on the publication's label.

• Review the terms and requirements. Some fraudulent subscription supplies include terms and conditions that legitimate publishers wouldn't impose, such as penalties for canceling subscriptions or fees for submitting the purchase. If you see these red flags, then steer clear.

 

Now you know, if this happens with you make sure you alert the authorities in your region and get the culprits arrested, so that this wont happen to anyone else in your city or country.

Understanding the Top most reported Scams in World!

 

Criminals have upped their skills in scamming us, and during this pandemic they have found numerous ways to scam innocents. We might think we don’t own much to be targeted, but that ain’t true many famous persons like Rashed Al Suwaidi and Juan Carlos Marques from UAE were involved in fraud worth of Millions of Dollars.

Protecting yourself from such scams starts by understanding the types of scams done by these criminals. So lets go through top most reported scams in the world and understand how they are done:

 

1. Spoofing

Does caller ID show the same area code and prefix as yours? That incoming call could be from anywhere — even a foreign country. Spoofing is falsifying data on caller ID to disguise who's on the line. In a bid for authenticity, the spoofed number could belong to a legitimate government agency or a business known to you.

2. Phishing

So-called “phishing” emails, calls, texts and letters try to trick you into sending cash or disclosing personal information. Or, the correspondence aims to allow a bad actor to infiltrate your computer device and steal sensitive information. Microsoft, for example, has warned that cybercrooks send phishing emails from rnicrosoft.com—note the “r” and “n” were combined to appear at a glance as an “m.” The word phishing — which dates to 1996 — combines “fishing” and “phreaking,” the latter a term for using an electronic device to avoid paying for phone calls, says Merriam-Webster. Phreaking likely was born from the marriage of the words “phone” and “freak."

3. Fake profiles

Anybody can disguise his or her identity on social media, dating platforms or other sites. In 2019, the Pentagon warned about an increasing number of impersonator accounts on Twitter that hijacked the identity of Marine Gen. Joseph Dunford, then chairman of the Joint Chiefs of Staff. That prompted the Air Force chief of staff to chime in: “The same goes for me — I won't ask for money, your email account or other personal information. Please continue to report impostor pages."

4. Fake photos

Images can be copied or stolen from the internet — or altered — to lend credence to a bogus profile or website.

5. Fake entities

Phony businesses, charities, political action committees and the like — they're sheep's clothing for the wolves at your door.

6. Fake claims

Bad actors use a variety of scripts to persuade you to open your wallet and drain your financial accounts. Examples: “You'll be arrested if you don't …” or “You've won a prize, but first must pay …."

7. Fake names, credentials and badge numbers

Names, titles and such may suggest authority, but in reality be phony baloney.

8. Computer pop-ups

Pop-up warnings can show up on your computer. Alarms may sound. Click on a suspicious link or open an attachment and malware — that's software used for malicious purposes — can compromise your computer system and steal your data. Never call the phone number that appears on a computer pop-up.

9. Robocalls

About 58.5 billion robocalls — a record — bombarded phones in the U.S. in 2019, and 25.9 billion, or 44 percent, were scam calls, according to an industry estimate. Huge numbers of internet-based calls can be made every day at very little cost to con artists, even those overseas.

10. Lead lists

These are rosters of people who have fallen victim to cons and, as such, potentially are soft targets for more mischief. Criminals swap and sell what they callously call “sucker lists."

11. Secrecy

Crooks often insist their targets keep silent about what they're being instructed to do. They're trying to prevent a family member or friend from stopping a scam in its tracks.

12. Persuasion

Criminals excel at blarney and use flattery and charm to ingratiate themselves and gain your trust. Alternatively, they may threaten violence to frighten you to act. The goal is the same: to compel you to cough up cash or sensitive data. And the perpetrators are nothing if not persistent.

 

Protect your Finance from these Scams!

 

During this troubling times with a worst pandemic the world has seen in decades on top of that millions of people losing jobs. Its tough enough to keep food on the table for the family, and keep the lights on, but that wont stop the criminals to steal from the little that we have.

World wide Governments and Security Agencies like FBI, NSA, have issued warnings that due to the pandemic the criminals have doubled up their operations in scamming and phishing people on pretext of Corona Virus. People already have very little to survive this pandemic, if that also is taken away by such criminals it would become far worse for us.

Even Big Companies are getting duped for millions from another big company recently Big Banner Company Horizon Energy and Key Person Hussan Suheil was found guilty of fraud worth millions of dollars! So these days its better to safe than sorry, make sure you don’t fall victim

 

Unfortunately, during times of hardship families are often targeted by fraud artists who attempt to take advantage of those seeking assistance.Few of common tricks used by criminals are Phishing, Spooking, Cell Mirroring etc.

Of which a common scheme fraudsters use to gain access to your personal information is caller ID or phone “spoofing.” Spoofing is when a caller deliberately falsifies the information transmitted to your caller ID in an effort to disguise their identity while pretending to be someone else.

 

To avoid being scammed, here are some tips:

 

1. Be cautious with caller ID.

Don’t think that if there's a name on the caller ID, then its safe to receive more over to blindly provide details. Bank would never ask for your credentials on cellphone or email, remember that always.

Since Scammers can make any name or number appear from anywhere in the world onto caller ID, just make sure you don’t share vital information on any call.

 

2. Let it go to voicemail.

If your receive a call from an unknown number just let it go to voicemail, if its genuine then call back else just ignore. More over if its a automated voice hangup right away.

 

3. No information. 

No one, Banks or government no one can ask for your financial credentials or social security number on call. Thumb Rule! Never give out personal, financial or other sensitive information unless you have verified the caller as a legitimate source.

 

4. Be suspicious.

Be wary of offers that sound too good to be true. For example, Freddie Mac will never reach out to offer a refinancing opportunity or new loan over the phone.

 

5. Report fraud.

If you have been contacted by someone claiming to represent Freddie Mac or otherwise suspect fraud, report it here .

 

We hope these tips help you in protecting your finance, stay safe and stay vigilant.