The year has seen a surge in increasingly sophisticated schemes designed to exploit unsuspecting individuals. Here are our top five scams and frauds to look out for.
The Safe Account Scam
Scammers often employ a combination of manipulation tactics and impersonation. They may contact individuals via phone calls, emails, text message or even in person, claiming to be representatives from the victim’s bank or the police.
These scammers will often fabricate stories about the victim’s bank account being compromised or involved in illegal activities. To fix the supposed threat, the scammer then instructs the victim to transfer their funds to a “safe account”. Once the victim transfers the money, it is nearly impossible for anyone to recover.
The Romance Scam
Romance scams involve perpetrators creating fake profiles on dating websites, social media or online forums. They typically will spend considerable time building a relationship with the victim, often using stolen photos and information to create a persona that appeals to the victim. Once trust is established, the scammer may fabricate some form of crisis or emergency, requesting urgent financial assistance from the victim.
Phishing
Phishing scams involve fraudulent attempts to obtain sensitive information such as usernames, passwords and financial details by posing as a person or company the victim trusts. These scams are typically conducted through email, text messages or fake websites designed to mimic legitimate organisations such as banks, social media platforms or online retailers. A phishing email might claim that there has been suspicious activity on the victim’s account and prompt them to click on a link to verify their credentials.
The government has advice on how to report internet scams and phishing here.
The Land Registry Scam
Perpetrators falsely claim properties are restricted by a Form ll restriction due to legal issues. Under the guise of authority, they pressure victims to urgently resolve the restriction, demanding fees or personal information. Victims, unaware of property laws, will often suffer financial loss and potentially also identity theft. If you have any questions, contact a specialist law firm such as https://www.parachutelaw.co.uk/form-ll-land-registry-restriction for advice.
Ticket Scams
Ticket scams involve the sale of counterfeit or non-existent tickets to events, concerts or sporting matches. Scammers typically advertise these tickets through online marketplaces, social media or classified ads. However, once the victim has paid for the tickets, they either receive fake tickets or never receive any tickets at all.
