Scam Fraud

8/8/2019 Scam Fraud

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SCAM FRAUD

Prepared by

S.VINOTH MARTIN

Final - IT

8/8/2019 Scam Fraud


AGENDA

1.DEFINITION

2.Types of e-mai scams

3. Examples

4.How to report or avoid scams

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SCAMwe'll define it as obtaining money by means of

deception including fake personalities, fake

photos, fake template letters, non-existent

addresses and phone numbers, forged documents.

Specifically we are concerned about those people

(men and women) who make this their practice,

who are in the business of scamming men.

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TYPES OF E-MAIL SCAM1.Advance free fraud

2. Lottery Scams

3. Phishing

5. Employment Scams

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1.Advance free fraud

1.Advance Fee Fraud : A 'nominal' payment is required to 'release'

some much larger amount which is held by a third party. Any

transaction that promises a huge return for a relatively small fee is

probably an Advance Fee Fraud, also known as 'Nigerian' or '419Fraud'.

T here is no 'millions', Mrs Abacha doesnt have the money either.

2.The perpetrators of Advance Fee Fraud (AFF), known

internationally as "419" fraud after the section of the Nigerian penal

code which addresses fraud schemes, are often very creative and

innovative.

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Contd««

5.The goal of the criminal is to delude the target into thinking that he is

being drawn into a very lucrative, albeit questionable, arrangement.

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Top 10 warning signs of a 419

1. A promise to share or transfer millions of dollars to you for your help or participation.

2. The e-mail or correspondence is marked "urgent," "top secret" or "highly confidential" and

demands you act immediately.

3. The sender claims to be an exiled Dignitary, Cabinet Member, General, CEO, CFO, lawyer,

doctor or the heir of some other important person or top official to gain your confidence.

4. Claims to have obtained your e-mail address "during a personal research on the Internet" or

from an unidentified "friend who was once on diplomatic mission.

5. The proposal contains a seemingly unlikely situation.

6. Claims to have smuggled the funds, jewels or precious metals out of their native country in a"diplomatic package" or "consignment" unbeknownst to their unstable or corrupt government.

7. Seeks an "honest foreign partner" to help with them with their crisis situation.

8. States they are working with an unidentfied "Security Company" or the "Central Bank of

Nigeria³.

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Contd..9. Requests personal information from you, i.e. your full name, bank account

information and routing numbers, home or business telephone and facsimile

numbers, or a copy of your letterhead.

10.The solicitation or contact requires you to advance money "up front" to secure

your participation in the transaction.

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.

Scams)

1.Victims are commonly notified by email (also by conventional mail or fax) that

they have won a prize in a foreign lottery or sweepstakes.

2.The scam is usually based around the demand for fees (taxes, customs duty,

shipping, courier etc) that need to be paid before the winnings are made available. Requests to 'take the fees out of the winnings' always get the same response - "We

cannot do that!".

3. Email lottery scams can often be identified simply by the fact that the response

email address is an obvious free email account (yahoo.com, netscape.net,

hotmail.com etc).

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Contd«.

4.For years, scam operators have used the telephone, direct mail and now

email to entice U.S. consumers into buying chances in supposedly high-stakes foreign lotteries.

5. Scam operators may never buy the lottery tickets on your behalf or may

buy some tickets, but keep the "winnings" for themselves. If you're thinking

about responding to a foreign lottery.

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3.Phishing/Identity Theft

Phishing is an Internet scam that uses spam, web pages, chat rooms, instantmessaging or pop-up messages to deceive you into disclosing your credit

card numbers, bank account information, Social Security number,

passwords, or other sensitive information.

Phishing attacks use 'spoofed' e-mails and fraudulent websites designed to

fool recipients into divulging personal financial data.

By hijacking the trusted brands of well-known banks, online retailers and

credit card companies, phishers are able to convince up to 5% of recipients

to respond to them.

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Be suspicious of any email with urgent requests for personal financialinformation

y unless the email is digitally signed, you can't be sure it wasn't

forged or 'spoofed' .

y phishers typically include upsetting or exciting (but false)

statements in their emails to get people to react immediately .

y they typically ask for information such as usernames, passwords,credit card numbers, social security numbers, etc.

y phisher emails are typically NOT personalized, while valid

messages from your bank or e-commerce company generally are.

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How to avoid it

EarthLink Scam Blocker is part of a free browser toolbar that alerts

you before you visit a page that's on Earthlink's list of known

fraudulent phisher Web sites.

The FireFox Web browser has in-built technology to alert you

when you surf to a page that is insecure or known to be unsafe.

Cloudmark and Qurb both also have commercial toolbars that

perform the same service.

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4.Employment Scams (Job Scams)

Employment Scams (Job Scams) are just one more way in whichscammers separate hard-working people from their money.

Most Internet jobs are advertised as Work From Home or Work

At Home (WAH) and are intended to target home makers,

retired people, disabled people, students and other people who

just want to make a little extra cash, while staying at home.

Transaction Processing Assistant, Reshipping Agent, Goods

Forwarding Executive, Processing Online Auction Listingsare all job descriptions that are being used.

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Tips to identify1. Lots of Graphics, pictures of money, cars, holiday destinations etc.

2. Shouty text, Imperitives, exclamation marks, colored, large pointsize text.

3. VeryVery long pages

4. They almost always tell you that the jobs are 'scam-free', or 'totaly legitimate'.

5. Extremely low qualifications required, almost always demand you have access

to an Internet connected computer .

6. Payment of a fee may be required for 'training materials' or some magic list

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example

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-

what?

1.Federal Trade Commission

2. The US Secret Service

3. US Postal Inspection Service

4. Federal Bureau of Investigation

5.Indian Cyber Crime -1800 209 6789

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Documents

Scam Fraud