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Scams and Other Business Ventures

April 1st, 2016 by judytalks

Scammers target everyone and anyone. Older persons are particularly vulnerable. Many people in this age group live alone, and many are in the stages of bereavement. Their emotional resistance is low, and they generally are not suspicious people. Here is a sad but true story of one woman who believed the documents she received were authentic. Education is the best preventive measure for stopping crimes of this kind. You can find relevant information on the Internet and from banks and other financial institutions.

 

Scams and Other Business Ventures

Will you be next? Can you protect yourself or your loved ones from fraud? Stories like this one happen to millions of people every day.

The first letter was sent out on letterhead, informing her that she was a winner in a promotional draw.  Her prize was $850,000.00. It had been deposited in Bank of America, and had been insured.

The letter appeared to come from the International Gaming Commission Sweepstakes & Lottery in Washington, DC. It stated that she should keep the entire details of the award “strictly from public notice”. In other words: Don’t Tell Anyone. The recipient of this letter was a 79-year-old woman, widowed, with a modest income and some investments.

The second letter appeared to come from the US Department of the Treasury, acknowledging her as a winner, stating the amount of her prize, and informing her that  “… the amount you will have to take care of is $30,000.00 and it will have to be made payable to our chief accountant which that name will be given to you later.” The rest of the letter gave instructions to contact her “representative” whose name and phone number were provided, with a security code she should use.

Despite the impressive letterhead, the documents had numerous mistakes.  There were typos and   poor grammar throughout. For example, the first sentence of the letter from the Gaming Commission  says:  “Congratulations to you as we bring to your notice, the results of the First (3rd) Category draws of International Gaming Commission SWEETSTAKES.” And in paragraph three “… the total prize money of US$ 29,000000.00….”

Many people receiving such correspondence would immediately recognize it as fraud. This particular woman did not. She believed it to be authentic and promptly called her financial planner to pay the alleged taxes. She insisted that she couldn’t tell him why she needed the money.

Needless to say, this was a red flag to him. He was reluctant to make the transaction and asked her to wait until he returned from his vacation a week later.  Somehow, she was able to make the payment herself.

The $30,000.00 is gone. The lady is poorer but wiser. But the scammers probably will never be caught.

Don’t let yourself be the next victim.

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