Fraud Awareness

Fraud does happen. Unfortunately, it can happen to anyone. Do not let it happen to you. Below, we list some common fraud scenarios so that you can remain vigilant against common fraud schemes in the industry.

Common Fraud Scenarios

Online Dating Scam

You meet a beautiful and intelligent woman. You have never met her in person — but you have been chatting with her for months, and perhaps have even spoken over the phone. Soon you will finally meet, but for now, she is on the other side of the world. Then, she experiences an emergency and needs financial assistance. Not much, just a few hundred dollars. Can you help? Then, the following week, someone falls ill. Once again, you do not hesitate to help, right? However, she is not the woman you thought she was. She has deceived you. She built your trust in her, and now she is ready to take all your money.

Lottery and Sweepstakes Scam

You receive amazing news in your email today — you won the lottery! The grand prize is enormous and you are already imagining what you could do with the winnings. You are not quite sure whether you actually bought that lottery ticket. However, you can barely remember what you had for breakfast this morning; so it is easy to forget something like a lottery ticket. In reality, there is a catch — the sender asks you for some money so that you can claim the prize. Just a small amount; what is USD 1,000 when you are about to receive millions?

Relative in Need Scam

Your granddaughter is traveling in Mexico and suddenly runs out of money. She urgently emails or calls you, saying she has an emergency and needs money. You do not remember whether your granddaughter mentioned going to Mexico, but you are worried about her safety and want to ensure she is safe. So, you send her a few hundred dollars. What is a few hundred dollars compared to your granddaughter’s safety?

Mystery Shopper Scam

You are in luck! You have just secured a new part-time job as a mystery shopper and received your first assignment. All you need to do is evaluate customer service at a local retail store. Sounds simple enough, right? However, there is a catch. A check or money order with instructions to deposit it has been sent to you, but you discover the amount is more than it should be. Now you are asked to return the excess funds to the sender. It sounds suspicious, but you do not think much about it. However, once you send the transaction, you discover that the original check or money order was fraudulent, and now you cannot recover the money you just sent. As a result, you lose both amounts of money.

Vehicle Purchase Scam

Your diligent online search for a great deal on your dream car has finally paid off! You find the car you want at a price lower than what your local dealer can offer. You contact the seller, and the person asks you to send a down payment and/or service fee through a wire transfer for a loan application. The seller may also send you a receipt. Do not send a down payment or service fee through a wire transfer. You will not receive your dream vehicle, and you will not be able to recover your money.

Online Purchase Scam

You find an amazing price for an apartment rental online and decide to proceed and sign the rental agreement. However, the landlord is actually a scammer who asks you to pay the first month’s rent through a wire transfer, and the apartment with the amazing price does not actually exist. Be cautious when shopping online and when people ask you to transfer money or send deposits to individuals or businesses. This can happen with any online purchase — pets, vacation rentals, timeshares, or cars. Anything. Do not wire money for online purchases. You will not receive the item, and you will not be able to recover your money.

Newspaper Advertisement Scam

It is Sunday morning, and you have just poured yourself a fresh cup of coffee, preparing to sit down and enjoy breakfast with the newspaper. Flipping to the classified ads section, you notice an advertisement for a new stainless-steel refrigerator at a price that seems too good to be true. You think about how long you have needed a new refrigerator and decide to give it a try. You buy it. Of course, you feel somewhat doubtful because you are purchasing it from a stranger, and even more strangely — the person asks you to wire money for the purchase. Never wire money to buy something from someone you do not know. There is a possibility that you will never receive the item and will lose your money.

Charity Scam

A recent natural disaster has left the entire country struggling to rebuild after widespread destruction. Therefore, you want to do your part by helping and donating money. Sadly, natural disasters such as floods, tornadoes, or hurricanes are often exploited by scammers who create “charity” organizations. They target well-intentioned people as victims. Your heart aches for those who have just lost everything. You receive a phone call or letter from a charity organization telling you how to transfer money. Make sure you never send money to individuals or organizations you do not know. Instead, contact the Red Crescent Society or another known and trusted organization, and ensure you understand how they collect and use donations. There is a possibility that if you transfer money to an unknown organization, your money will not go toward the intended cause, but instead into the scammer’s pocket.

Check or Money Order Scam

You receive a check or money order in the mail as an advance payment for a great new job you have just secured — or for merchandise you sold through an online advertisement. However, the catch is that the amount on the check or money order is greater than it should be, so the scammer asks you to deposit the check and then wire back the amount they “overpaid.” Shortly thereafter, you realize the check or money order was fraudulent and — even more unfortunately — you cannot recover the money you wired.

Elder Abuse Scam

Although this type of fraud can take many forms, it is important to note that nearly one-third of all telemarketing fraud victims are aged 60 or older. Be cautious before sending money to strangers in exchange for promises such as home repairs, predatory loans, estate planning, or large sums of money to multiply your “savings.” Never allow strangers to manage your money and assets. Scammers will do everything possible to manipulate you into surrendering your property and/or money and may empty your checking account or your entire savings within minutes. Never entrust your money to strangers.

Guaranteed Loan Scam

Did you send money because you were “guaranteed” to receive credit or a loan? If so, be cautious. It is unlikely that you would be required to send money in order to receive legitimate credit or a legitimate loan.

Wire Transfer Scam

Wire transfer fraud can occur in many different ways and forms. To make matters worse, scammers are constantly learning new tricks and techniques. It can be very difficult to recognize when a particular situation is actually a scam. That is why it is very important to always stay one step ahead of cunning scammers.

Identity Theft

Identity theft occurs when someone assumes your identity to commit fraud or other crimes. Criminals can obtain the information they need to assume your identity from a variety of sources. This includes stealing your wallet, going through your trash, or compromising your credit or banking information. They may approach you in person, by telephone, or online and ask you for this information.

Telemarketing Scam

You receive a phone call from an unknown caller and hesitate to answer. At the last moment, you decide to pick up and receive a surprise — you have won a free cruise vacation. Great! To receive the free cruise vacation, all you need to do is pay for postage and handling to receive the official “offer.” It sounds simple enough. The convincing voice on the other end of the line has tricked you into providing your financial information and paying the requested postage fee. Whenever you wire money to strangers or provide personal/financial information to unknown callers, your chances of becoming a victim of telemarketing fraud increase significantly.

Remember that your personal information is often provided to telemarketers through third parties. If you have been victimized before, be cautious of people who call and offer assistance in recovering what you lost, but require advance payment first.

Protect Yourself

Where to Get Help if You Are Scammed

If you are a victim of a wire transfer scam, first report the incident to your local police. Next, file reports as listed below. Whenever you have questions or concerns, do not hesitate to contact us immediately at 1 800 882 077.

Report Fraud

If you are a victim of fraud, you should report it. Below is a list of useful resources to help you report the fraud incident.

1). Contact the police
Start with your local police. All wire transfer fraud schemes should be reported to the police.

2). Contact the Ria Fraud Department
We would like to know about it so we can do everything possible to help prevent it from happening again. Please contact us by phone at 800 852 6950 or by email at: SG_support@riamoneytransfer.com.