The modern era has ushered in a wave of technological advancements and innovations that have literally changed the way we live. As with everything, there are a number of positives that accompany this aeon and then there are some negatives as well. Perhaps, the most affected by modern technology is the financial sector of the world, where fraudsters have found unique ways of scamming. From emails to calls, fraudulent offers are everywhere. If you are ever stuck in such a dilemma, you could consult the criminal lawyers Sydney for a professional viewpoint on frauds and other major criminal offenses. For your comprehension, I have listed 4 major financial scams. Make sure you stay away from such fake offers.

  1. Emails from Abroad

A very famous scam, which is popularly called the ‘Nigerian scam’, has so far fooled many. You might receive an e-mail from an alleged Nigerian prince that has recently been removed from office. Fortunately, he has decided to transfer all his valuable money to you and for that, you have to share your bank account details. There are several other variants of this particular scam that are based on the same idea. They use a different story and setting to lure you in. If you provide your details, these scammers will rob you of all the money in your bank.

  1. Lottery Rewards

If someone told you, you had won several million dollars in a lottery scheme that you had no idea about, you would be extremely happy or surprised. If you come under the first category of believers, do not believe in such a ruse, as there is no truth behind such a claim. This technique has been in use for years. Sometimes, the fraudster will even convince you that the lottery you have won is in another country. They will ask you to send over processing or other kinds of fees worth a few hundred dollars and that’s where your misery starts.

  1. Penny Stocks

If you have watched the Wolf of Wall Street you must be aware of penny stocks and how well they work in terms of fooling people. Scammers usually advertise cheap stocks with fancy names to coerce people to buy them. They will give you confidence that the security will pay well in the future and many people buy them, inflating the stock price. Now, the scammers sell their shares and make money while you are left empty-handed once the price falls.

Fraudsters are very clever in that, they try to pull you toward an emotional mindset instead of a logical state of mind. Once you are emotionally caught they can extract money out of your pocket in no time.


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