Introduction to Various Schemes

Here is a list of frauds and scammers that you should always watch out for.

Chain Letter Scheme is the idea that a scammer will send you an email asking for one dollar in return for hundreds of dollars. By targeting thousands of people the scammer is likely to receive hundreds of dollars without having to pay anyone. This concept is of course to good to be true and doomed from the beginning.

The Mighty Wurlitzer is a fraud where a scammer had deposited 100,000 dollars into a bank account. Then the scammer opens two other accounts at different banks. By moving the money from account to account the scammer gives the banks an impression he has a successful business. The bank then offers a large over draft limit, the scammers withdraws as much money as possible from all accounts from the over draft and leaves.

The Dead Man's Holiday is when a scammer takes advantage of someone who has gone on holiday for a long duration. The scammer creates a fake will and with fake signatures stating the vacationer has passed away. He then makes up a firm stating that he has been named the executor of the will. The scammer then proceeds to the Probate Registry, and quickly fills out fees and paper work for a grant of probate. With this grant of probate the scammer empties the vacationer’s bank account and disappears.

Simple Bribery is when a scammer has a bank overdraft of $10,000 and befriends the bank manager with gifts allowing a slightly larger overdraft, in which the scammer may take advantage of.

Building Stripping is where a scammer purchases a listed building and removes the building of as many valuable assets as possible such as light fixtures, furniture and anything that inst nailed down. After selling all of the valuables the scammer hides his money, and discontinues his mortgage leaving behind a building with lesser value.

"Widow Wobbling" is simply a scammer taking advantage of widows or seniors in a nursing home while requesting to be a power of attorney. The scammer can then clear the widow’s bank account and leave.

A Chain referral Scheme is similar to a pyramid scheme in the sense that a scammer sells someone an overpriced product promising a full commission if only the victim has friends purchase the same product. Thus continues a cycle of victims trying to get the full price for the product back.

Keep an eye out for frauds like these and remember, if it’s too good to be true, it probably is.