FRAUD WATCH

TOP TEN SCAMS OF 1999

An Almost Exact Replica Of The Top Ten Scams Of 1998

There are a few honourable mentions, one that comes to mind is the big "get a free computer, and internet service by allowing us to place and show banner advertising across the bottom of your monitor etc. etc... just send a one time set up fee of $400 U.S., and that's it." That's it all right, thousands of $400 set up fees disappeared into foreign bank accounts, with a scam artist following.

10. Employment Opportunities- the enterprising con artist is willing to sell old, out-dated, job lists for $20, $50, $100; whatever the buying public is willing to pay. Especially hot is the "overseas" work, for supposedly tax-free dollars, which is very enticing to us ridiculously over-taxed Canadians.

9. Bogus Business Invoices- Depending on the chance that businesses, large and small, will not verify invoices received, these look-alikes are once more hitting the workplace in a snowstorm of bogus paper.

8. 900 Telephone Numbers- Now being offered as a way to verify fake sweepstake winnings, is a Toronto regular, often being sent out as a "Christmas" sweepstake. You know, "you have won a prize, dial 900-R-U-STUPID to find out how much you won".

7. Fake Charities- Operated by very uncharitable scammers. Every year they take advantage of well-intentioned people and businesses. The Fraudwatch column warns that you need be cautious with appeals that are big on emotion and small on describing the services.

6. Work At Home Scams- The usual, envelope stuffing, assembling parts. Downsizing, and the hype from all the "big money, small effort" advertising, especially TV Infomercials, strip millions from the na've public on a daily basis.

5. Advance Fee Loans- Believe it, this old scam is still with us. I have a friend, an insurance agent, and a sophisticated money person, who recently got suckered on this. Unbelievable! You do not, repeat do not pay upfront fees to get a loan. Any costs are already built into the interest rate. A high-risk client pays a higher interest rate.

4. Pyramid Frauds Pretending To Be Multi-Level Marketing- I don't know how many times you have to be told, IF THE EMPHASIS IS ON RECRUITMENT, AND NOT ON THE SALE OF THE PRODUCT THEN YOU WILL LOSE YOUR MONEY! Not to mention the time you put into it, and the friends, relatives, and neighbours you have alienated, and now cross the street when they see you coming! Why do they do that? Because when you moved them from personal relationships, to customers, you insulted them!

3. Fake Contest Winnings- you have won! Congratulations! Send $$$!- They come by telephone, letter, postcard! Congratulating us for "winning a free vacation (one week of endless time-share sales pitch) or a luxury "boat" (rubber raft). Keep a cool head, keep your wallet in your pocket and remember IF YOU HAVE "WON" SOMETHING., WHY WOULD YOU NEED TO GIVE THEM YOUR CREDIT CARD NUMBER!

2. Foreign Lotteries- An ongoing problem. You receive a call claiming that you have won a big prize in a lottery operated out of a foreign country. The caller says the prize can't be released until state taxes are paid! Canada received an extremely bad reputation as one the worst of the pack. A friend of mine, who worked this scam very profitably, called all over the U.S.A. telling elderly Americans they've "just won $$$$$$$$$, but the Canadian GST must be paid first. Please send your cheque to..." Sounds believable, doesn't it? Especially to an American. They have enough trouble trying to figure out why we have two languages, and why we keep electing politicians we despise.

1. AND REPEAT WINNER- The Nigerian Bank Fraud - and Apparently Anything That Comes Out of Nigeria - The same old thing, according to the R.C.M.P.; there's nothing new here. Over 10,000 letters in the last 12 years have netted a very conservative $50 million dollars. Let's see, at about $1 per letter that makes a profit of approximately $5,000 each, for punching out a form letter and licking a stamp. Nice work if you can get it! There are various methods, but they all seem to focus on our most basic emotion--greed. I know it gets me going. But really, "send me $1, and I'l send you $10?" Get real. If it sounds too good to be true, it is.

Nolan Young is a private investigator and a fraud consultant and can be reached at" nolan@accglobal.net.