New Online Fraud Schemes
Fraud comes in many forms, but many people turn to bank fraud schemes to make money off of unsuspecting victims. One of the newest ways that criminals achieve this is through live support chat. Many banks and credit companies provide information recovery options. It’s quite normal for people to lose password information, and some criminals have devised ways to obtain access to accounts in this fashion. Once the person gains access to a bank account or another type of account, then they test the waters carefully before stealing money.
One of the the methods they use is internal transactions. They might move money from a savings account to a checking account, to test whether or not they actually have complete access. Once they have determined that they have complete access over a person’s account, they contact customer service. It is at this stage that the real fraud begins. The person committing the fraud will ask the customer service representative to complete a wire transfer. Posing as the real account owner, the fraudster will then ask for the wire transfer to be sent directly to them. Most of these criminals are experienced, so they will not ask for large amounts of money up front.
The best way to protect against this kind of fraud is to make sure that all of your personal information is protected. Do not allow anyone to have access to your password, screen names or security questions. Make sure that all of your passwords are difficult for others to guess.