By Trisha Miller
A large category of fraud, simply labeled “cybercrime” lost Americans $800 million in 2014 alone. The FBI filed cases of over 269 thousand people who fell victim to fraud that year. However, even they say that these reported scam cases aren’t close to the actual number of internet crime losses. It is estimated that only about 15% of all fraud victims happen to report the crime. Of course, with this much fraud happening every year, fraudsters are constantly looking for new ways to scam and not get caught – and they’re getting better at it every day. Yet, there is still hope. No one is perfect. Not even tricky scammers. As “cybercrime” skyrockets to an all time high, professional cyber sleuths are also getting better at tracking in tandem. Many of these criminals are being brought to a righteous justice.
Unrealistic Home Investments
A fairly common plan of attack for scammers includes investment fraud of many different types. Specifically, home or land investment opportunities. Fraudsters contact anyone who might be interested in making some serious bucks in a short amount of time. Often times, seniors end up falling prey to such scams. Namely, because nowadays it is so difficult to gain the funds needed to retire comfortably. So, investment scam specialists will reach out to the potential victim and offer an unbelievable package. Usually consisting of a plot of land at an “unbeatable” price, which is promised to produce significant equity in the coming years. Needless to say, the commitment is never fulfilled.
Recently, a team of investment frauds were caught selling unrealistic opportunities to thousands across the UK. The government vouches that approximately $21 million was cheated from investment hopefuls. The companies tried to fight back against this claim, but were still found guilty for their crimes. They have been ordered to pay back the $21 million in its entirety.
However, some feel that the victims will never receive adequate justice based on the fact that many of these businesses do not have the money to pay back their victims in full. It is unclear what additional actions may be taken against the company if they are unable to pay the whole amount back to the original owners.
Offering Prayers…For a Fee
Another such scammer was taking advantage of victim’s religious beliefs. A man from Seattle, WA set up multiple “online prayer” sites in which he would offer to give prayers for a hefty fee – between $9 and $35. The man even falsely said that a minister of the church was available for one on one prayer and consultation sessions. In addition, the fraudster tricked his prey into repeat withdrawals on a monthly basis for his “services”. Over 125 thousand desperate individuals were duped by his erroneous operation.
The courts ordered him to pay back his victims in full, which consists of $7 million. This includes attorney costs as well as court fees. If he does not comply with the charges he will be forced to pay another $1 million in civil penalties.
Evidence shows that despite the billions of dollars lost each year, organizations like the FBI are recognizing patterns in scammers and these individuals are slowly being brought to justice. With that being said, keep yourself educated on what scams look like. Scammers do not discriminate towards any particular group of people. If you believe you have information regarding a current scam do not hesitate to bring forth any and all information to your local police department.
Trisha is a freelance writer from Boise, ID. She is a dedicated vegan who promotes an all-around healthy lifestyle – including financial health. You can follow her on twitter @thatdangvegan and check out her blog thatdangvegan.com.
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