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£21 Million Lost To Computer Software Service Fraud

£21 Million Lost To Computer Software Service Fraud
Action Fraud have launched a new campaign to warn people about Computer Software service Fraud. It is one of the UK’s top five most reported types of fraud. In 2017/18, over 22,000 people have reported being scammed and the total loss combined is £21 Million.

Action Fraud received 22,609 reports from members of the public, concerning Computer Software Service Fraud and a total of £21,365,360 being stolen by scammers. Action Fraud report the average age of a victim is 63 and people living in London and Bristol are most likely … Read more

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Another timeshare scam in the US.

A real estate company in the US is warning consumers and real estate brokers about a Burst of recent timeshare scams. The scammers are cold-calling timeshare owners claiming to be from a Legal real estate agency and offering timeshare sales and exit services for timeshares owners.

The scammers have been falsely representing themselves as home sales agents working for a legitimate firm, even going as far as to use their real estate license number and address.

The scammer will then offer to sell the victims timeshare, explaining how they have many clients ready to purchase timeshares at a reasonable price. … Read more

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£500 Million Stolen From UK Bank Accounts !

A new report states that £500 Million has been stolen from customers of British banks in the first half of 2018 alone.

Industry group UK Finance says £145 Million of the stolen amount was due to APP scams, or Accredited Push Payments. APP crime is the fastest growing type of crime and these new figures show a sharp increase in the amount stolen from 2017. In short, APP fraud is where a victim believes they are paying for a legitimate service or item and the criminal poses as a trusted third party and redirects the payment to a different account.… Read more

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Thinking of selling your timeshare ?

If like the many timeshare owners, you have become tired of your burdensome timeshare, or simply can’t continue to pay the mounting maintenance fees, you have probably thought about selling it. After all, you were told that when you no longer wanted to keep it you could sell it on and make a profit.

But before you enter into the murky waters of timeshare re-sales there are some important things to be aware of. Just as there are rouge sales reps and scammers when buying a timeshare, the same is true when trying to sell one.

If you own … Read more

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Company Directors Found Guilty Of Cold-Calling Scam

Two company directors from Nottingham have been found guilty of Deceptive trading after a 10-day trial. The firm cold-called businesses all over the UK, including takeaway restaurants, nail bars, hair salons and other small businesses, offering to reduce their business rates. The firm charged customers either £399 or £499 for simply filling in application forms. On their website, they boasted that they were the leading specialist in business rates, something that they could not justify when asked in court.

The small businesses targeted were then pressed for payment, even though rate cuts had not been achieved by the company. … Read more

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Victims Of Pension Fraud Lost An Average Of £91,000

The Financial Conduct Authority and The Pensions Regulator have issued a statement, to warn the public to be watchful when receiving cold-calls, regarding pension investments.

 

The warning comes after 253 victims contacted Action Fraud to report pension investment fraud. This resulted in more than £23 million lost to pension scammers in 2017 alone. The average loss equates to £91,000 per victim.

superfluous to say, these are highly sophisticated scammers, who convince people into transferring their pensions into fraudulent schemes. Victims can lose their life savings and hard earned money, which could leave them facing a retirement future they … Read more

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Five Jailed For £2.8 Million Boiler Room Scam

Five men have been jailed for a total of nearly 18 years, following a criminal prosecution by the Financial Conduct Authority. They have been found guilty of scamming more than 170 victims out of £2.8 million, in a complex boiler room scam.

The judge said “Some victims lost everything they had” and “their stories were at times positively heart-breaking.” He added that elderly people had been specifically targeted.

The men worked in a boiler room, where they cold called victims and using high pressure sales tactics, sold ineffective and overpriced investments to the public. The name boiler room refers to … Read more

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£500 Million Stolen From UK Bank Accounts !

A new report states that £500 Million has been stolen from customers of British banks in the first half of 2018 alone.

Industry group UK Finance says £145 Million of the stolen amount was due to APP scams, or Authorised Push Payments. APP crime is the fastest growing type of crime and these new figures show a sharp increase in the amount stolen from 2017. In short, APP fraud is where a victim believes they are paying for a legitimate service or item and the criminal poses as a trusted third party and redirects the payment to a different account.… Read more

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Cold-Calling Conman Jailed For 13 Years.

A man has been sentenced to 13 years in prison, after he was found guilty of conspiring to con dozens of investors out of millions of pounds. Michael Nascimento, ran a call centre where investors were offered shares in fraudulent companies. But instead, the court heard, how he spent some of the proceeds of his crimes on private school tuition, Arsenal season tickets and expensive trips.

For four years, Nascimento ran a ‘Boiler Room’, another name for a high pressure call centre, where investors, many of whom were elderly and vulnerable, buy shares in companies with credible sounding names. … Read more

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Conmen Caught And Jailed !

Charity conman Jailed.

A lorry driver who pocketed money he raised for the young son of murdered soldier, Lee Rigby, has been jailed for two and a half years. The court heard haw Gary Gardner, raised about £24,000 but only £4,000 made its way to any charity.

Gardner put on three truck-pull events, and thousands of people attended, including Lee Rigby’s widow and son. He was convicted of two counts of fraud.

The court heard how Gardner, a lorry driver, staged events in 2013, 2014 and 2015 in the Leicestershire village. He also spent £5,000 on producing and promoting … Read more

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