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First Time Buyer Has Deposit Stolen

Home buyers are being warned that fraudsters are out to steal their money and to be on guard when purchasing a new property.

Action Fraud has issued the warning after a charity worker who was about to purchase his first home, had £67,000 stolen after hackers Blocked emails between him and his solicitor.

It is known as Conveyancing fraud and is committed when criminals hack into the email chains between sellers and buyers and their solicitors and estate agents.  The fraudster will wait for the right time, usually the day of the sale, and send a spoofed email informing the … Read more

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Carphone Warehouse Fined £29 million

Dixons Carphone Warehouse has been handed a £29.1 million fine from the Financial Conduct Authority for mis-selling its Geek Squad service. The FCA said Carphone Warehouse trained its staff in ‘spin selling’ its Geek Squad policy to customers who already had insurance policies in place and didn’t need it.

The FCA started its investigation after whistleblowers reported the company were forcing staff to push the insurance and technical support product onto customers. They were trained to Advocate Geek Squad to customers who already had phone cover. The FCA said staff were also trained in ‘Objection Handling’ of focusing on customer … Read more

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Banks agree to compensate victims of sophisticated fraud

Some of the UK’s biggest banks have agreed to pay compensation to victims of bank transfer scams.

Until this new compensation scheme was announced this week, banks have refused to pay Reparation if neither they nor the customer were to blame.

Victims of bank transfer scams have been left with nowhere to turn, when banks have refused their requests for refunds. And figures released in 2018, showed that consumers lost £92.9 million because of this type of fraud.

But now a group of bank’s including Barclays, HSBC. Lloyds and RBS, has agreed to contribute to a fund to ensure victims … Read more

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Action Fraud Warning To Instagram Users

Fraudulent investments are being advertised on social media and Action Fraud, the reporting watchdog, says a shocking £3,168,464 was lost to scammers between October 2018 and February 2019. On average, each victim lost a total of £8,900 per person.

Action Fraud want to warn the public about investments being used on social media, especially Instagram. They say young people, aged between 20 and 30 are most likely to be targeted and fall victim. Fraudsters are advertising ‘Get Rich Quick’ investment schemes, promising a high return within 24 hours. They have been asking victims for a initial £600 investment, which they … Read more

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Residents Warned About Timeshare Scam

The State of Tennessee, U.S. has warned residents to be on alert if they own a timeshare. The Tennessee Department of Commerce and Insurance say’s there is a big problem with people being scammed in their State and timeshares ranked amongst its highest complaint category.

While most victims are owners trying to sell their timeshares, the department also receives high numbers of complaints from buyers. They say these include high pressure sales tactics and Distortions about their contracts.

The Federal Trade Commission (FTC) is an independent agency of the United States government, its principal mission is the promotion of … Read more

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The 12 signs your email could be under attack

Cybersecurity experts have revealed a list of the 12 most common subject lines in phishing emails targeting businesses.

No email security solution is 100% effective. Hackers put a lot of effort into developing attacks that circumvent email protection and end up in users’ inboxes. Cybersecurity company Barracuda conducted an investigation over a three month period and analysed 360,000 phishing emails. They found that, in many cases, the language contained in the subject line of the email mimicked popular terms in the workplace. This makes the recipient think that the email is urgent and requires an immediate response. It is assumed … Read more

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Five Men Jailed Over Fraud Offences

Five fraudsters have been jailed for a total of 17 years and nine months, for conning susceptible victims out of nearly £1 million.

The five men were facing charges of conspiracy to defraud and money laundering. The court heard how, between 2013 and 2015, the group of men conned more than 50 victims into a fraud and money laundering scam. The men would cold-call elderly and vulnerable people, introduce themselves under fake names and claim they were brokers with proficiency in fine wine.

They operated from an industrial estate based in Great Dunmow, and claimed to work for three companies, … Read more

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Scammed out of $63,000 on a timeshare that was never built

A 68 year old retired couple from Arizona, U.S. paid more than $63,000 for a timeshare condominium in Mexico. The couple were planning on spending a couple of weeks there every year, however, the couple learned the resort was never built.

It all started in 2004, when the couple invested $30,000 in a two bedroom timeshare condo in the Grand Mayan resort in Mexico. The developers told the couple the timeshare would be ready in a couple of years, the wait turned into 13 years and the couple were forced to continue paying maintenance fees, which had reached $900 a … Read more

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Romance Fraud leaves woman penniless

Michelle Szombara has now been declared bankrupt after meeting a man on a dating website. Alan Clarkson stole more than £60,000 from Ms Szombara and her parents. Clarkson turned up at her house one day with a few items of clothing and did not leave for four years. He then started to claim he was penniless, in debt and could not access his bank accounts.

To help legitimise his con, Clarkson created fake emails from financial organisations and produced fake paperwork to fool her into believing he had money in another bank account and could pay her back.

Ms Szombara … Read more

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Scammer Steals $10,000 From Grandfather

A grandfather from Australia has been scammed out of $10,000 by a refined fraudster who knew all of his personal details.

The 77 year old retired grandfather, from Australia, was called on his landline by scammers claiming to be from his broadband provider. They told him he was due a payment of $300 in compensation for his service not working properly. The caller then proceeded to pass his call onto a female agent who claimed to work for the network and would process his $300 payment.

The scammer knew all of his personal details and was able to access his … Read more

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