Money Wiring Scams

If you wire money, the scammer will keep it. Read more about sending money overseas. Be especially suspicious if you're asked to pay money upfront. Never give out any personal information, such as your social security or bank account numbers, unless it is to a trusted company with which you have initiated contact. Have you found something online that interests you - a puppy, a car, an apartment for rent or any item for sale? NerdWallet also has built a database of companies promising student loan services and relief that you should be wary of.

4. Pets-for-sale Scam

Search form

Scammers continue taking thousands of dollars from unsuspecting consumers through advance-fee loan scams. There are some things you should know to protect yourself, your money, and your identity from fake  · Find information on common scams and frauds that can happen to you. Telephone scammers try to trick you out of money or get access to your personal information. Scams may come through phone calls from real people, robocalls, or text messages. If you cash it, you may be authorizing the purchase of items or signing up for a loan Loan scams. Fake loan offers. When borrowing money be aware of scammers offering fake loans. Be especially suspicious if you're asked to pay money /loan-scams.

Federal Trade Commission

1. Remote PC Repair Scams

They may even send you a letter or e-mail of authentication telling you that you have purchased the item, but in order to deliver it you need to wire funds first. You will not receive a car or truck. Once money is wired and received, it cannot be recovered and, unfortunately, you will be at loss for any money transferred. Did you receive a phone call from a grandchild or a family member?

Or a "lawyer" or "police officer" suggesting they are with your family member? Are they in despair because they have been detained? Have they been in a car accident? Are they asking for money to pay fines or for car repair? Did a relative call because they need money for a family member in medical need or for medicine? Use precaution when sending money in any of these situations.

These callers can request that you send money anywhere in the world. If you cannot verify with your family member calling their number you had before this call, not the "new number" the caller gives you that they are requesting money and aren't sure about the transaction, do not send the money. You will be at a loss for any money that is sent. Did you receive a letter or e-mail about getting a loan?

Were you asked to send money for loan fees, taxes, service fees, advance payments, or any other reason? Do not send money to a loan company to obtain a loan. If the money is wired and received it can not be recovered. You will be at a loss for the money you have sent.

Get a check or money order in the mail with instructions to first cash it at your bank and then send some of the funds to someone else through a MoneyGram money transfer? Be aware that counterfeit checks are very hard to identify.

You may have been promised a percentage of the check for employment or because of an over payment. Do not send the money and do not cash the check. Did you meet someone through a personal ad, e-mail, chat room or an instant message? Did they ask you to send them money for travel or to help them financially? Do not wire the money - this is a SCAM. Any money received by this person cannot be recovered and you will be at loss for any money sent.

Have you found something for sale in the classifieds or any type of newspaper ad? Did they ask you to pay for the item through a MoneyGram money transfer? Do not use a money transfer to purchase an item from a stranger. It is not safe to use a money transfer service when trying to purchase an item. A stranger begins a close relationship with you and offers to manage your finances and assets. Or, signatures on documents do not resemble your own signature.

Don't get duped into parting with your money through financial abuse scams. Financial abuse scams can take many forms, including telemarketing fraud, identity theft, predatory lending, and home improvement and estate planning scams.

Never trust your money with anyone you don't know. All the other above types of consumer fraud could also be directed towards elderly or senior individuals. Preventing consumer fraud with knowledge of common scams Almost all consumer fraud starts with contact from a stranger. Refund scams Did you receive a call from someone claiming to work with the FTC? Disaster relief In times of disaster, it's important to be aware of charity scams.

Foreign lottery Many local governments recently have issued a national warning about the continued defrauding of citizens taking place through a foreign lottery or sweepstakes scam. What to be aware of: Be leery if you do not remember entering a lottery or sweepstakes Beware of lotteries or sweepstakes that charge a fee prior to delivering your prize Be wary of demands to send additional money as a requirement to be eligible for future winnings For more details visit the FBI's fraud database, Internet Crime Complaint Center Sending money to a stranger MoneyGram never recommends sending money to a stranger.

Relative in need Did you receive a phone call from a grandchild or a family member? Loans Did you receive a letter or e-mail about getting a loan? Overseas scammers may use this information to steal your identity. Read more about identity fraud. Do not accept unsolicited offers of credit from unfamiliar lenders and only deal with reputable online institutions, after you have checked they are the real company by calling their public phone number.

If you have been scammed you will lose any money you have transferred, which could be thousands of dollars. If you have given the money to a fake lender, you won't be able to take your complaint to an external dispute resolution service as this service only handles complaints about licensed lenders. Scammers are skilled at convincing people that the loan offer is real. Be suspicious of anyone offering you easy money. There is almost always a catch.

Here we explain how to identify a fake loan and what to do if you've been scammed. How to identify a loan scam Things to check before getting a loan What to do if you have been scammed How to identify a loan scam Scammers are skilled at convincing people that their loan offer is real. Here are some of the warning signs: You receive a call or email telling you that you qualify for a loan from a company that claims to be a registered Australian company or Australian credit licensee.

They may even have an Australian phone number or address to appear legitimate. You're asked to make upfront payments before you get the loan, to pay for things like insurance, tax or initial repayments.

You're asked to deposit your upfront payment into an Australian or overseas bank account, a cryptocurrency wallet or a gift card for the scammer to redeem. You're emailed from a generic email address, for example, a gmail, hotmail or outlook account, or an email address that looks like it's from a legitimate institution but is spelled incorrectly.

You're approved for a loan amount that is more than you require.