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You Can Avoid Money Scams

Money scams, particularly those perpetuated via the internet, are on the rise. Just when you thought that is was safe to complete a transaction online has arisen several scams to help free you of your money. Scams abound, but you don't have to be a victim if you follow the important tips outlined herein.

Scammers are a creative lot if only they would use their creativity for good the world would be a better place. Well, they don't and it isn't.

Most scams out there are done via legitimate sites such as eBay or Craig's List and contains a kernel of truth in them. The truth is that the scammers know that you have a product or cash and they want it!

If you see a listing online for something that sounds too good to be true, then likely it is in fact false. Most scams involve the sale of a product that isn't even available or they will attempt to purchase a product from you that they have no intention of buying.

Revolving around money a scam could work something like this:

A buyer approaches you about a product they know that you have. For example, if you own a beat up old car you may be approached by a "buyer" who is willing to pay well over book value for it. You bite because you know that you could barely fetch one thousand dollars for the car and $2500 sounds too good to pass up. Besides, you were going to finally trade the clunker in for a new set of wheels!

The strange part in this type of deal is that the buyer lives clear across the country or overseas. He insists that he'll arrange for the car's shipment, freeing you up from one big concern.

The buyer's next move is to obtain personal information about you to include on a cashier's check that he plans to issue to you. Your name, address, phone number and other pertinent information is what he wants. A cashier check in an amount far exceeding the face value of the check will be sent to your address with a request from the buyer that he would like you to wire the remaining funds back to him so that he can use it for the shipping company, etc.

You take the check to the bank who then clears it. You wire the remaining funds to the so-called buyer and that is the last that you hear from him. You have been scammed. Worse, when the bank finds out the check isn't any good, you'll be responsible for the entire amount and you could face criminal prosecution if the bank thinks you attempted to hoodwink them!

So, if it sounds too good to be true then it is too good to be true. Use your common sense to ferret out scams as they are just about everywhere!