Earlier this month, the Australian authorities stopped a retired couple returning from a free holiday to Canada. The ‘lucky’ duo had won an all-expenses-paid trip to Canada for a week which included flights, hotel and even new luggage. But as always with such cases, the offer was simply too good to be true. Read more →
Archive for month: October, 2013
The eBay fraudster selling non-existent cars from Romania now has a British counterpart in insurance. In what is being dubbed the biggest fake car insurance scam in UK history, according to the BBC, “ghost broker” Danyal Buckharee made over £550,000 and conned as many as 600 drivers throughout the country. Read more →
eBay scams have been around for years now. Reports of people paying for products they do not ultimately receive are hardly breaking news. However, sometimes there are those cases that surprise us by their sheer magnitude and the amount of money they manage to siphon off of their victims. The recent case of the eBay car scammers is just that. Read more →
Romanee-Conti is a Burgundy red considered to be one of the top wines of the world. A superior quality wine, it is one of the most expensive bottles that can be bought due to the fact that it is produced on just four acres of land, making it immensely exclusive. In fact, two year ago in 2011, a 12-bottle case of the 1990 vintage was sold at auction for the hefty price tag of £183,000. Read more →
Technology is becoming more pervasive. The older generation is also becoming more engaged, embracing the possibilities and opportunities being offered to them online, however, not all is looking rosy according to the first-ever survey by McAfee, the famous software security firm. Read more →
The UK has recently seen a rise in ‘whiplash fraud’, in which scammers claim that they suffered from whiplash in order to claim compensation for their fraudulent injuries. Read more →
HM Revenue & Customs is stepping up its scrutiny of new pension schemes as it aims to make it harder for scammers to fool pension savers into transferring money to unprofitable ‘pension liberation’ schemes. Read more →
The internet has given rise to slews of websites designed to trick the public into handing over their hard earned money to scammers. They can target anything from fake offers on free holidays to a deal on your mortgage. Pensions are also under fire.
In pension liberation fraud, websites deliberately misrepresent crucial facts about how to access cash from pension. The site convinces visitors to access the funds by transferring the money into a new scheme. Of course, within legal parameters this would require heavy taxes of as much as half the pension fund available. Any money remaining is usually taken by the fraudsters as ‘fees’ or is channelled into non-existent or worthless investments.
This type of scam has cost the UK and its citizens over £500,000,000 to date but the frightening part is that most victims only realise they’re being scammed years later when they actually do retire and find that half their fund is gone without a trace.
To save yourself from this gutting ordeal, make sure you give no personal data over the phone to cold callers. Check the legitimacy of the company by asking for credentials and checking them with the Financial Conduct Authority. Also, ask for a statement showing how your pension will be paid at retirement and question who will be looking after your money until then.
Technology advances at lightning speed. That is why, it has become the norm that people are having to deal with the next new life-changing gadget before they can even digest the last step in tech evolution that they were introduced to just months before. Read more →
Scotland has been under fire recently from the Commonwealth of Nations Lottery. Many are being targeted with letters claiming their recipients have won a very large sum of money thanks to the aforementioned lottery. All they have to do to claim their prize is send on their bank details and wait for the cash transfer of a lifetime to be made to their account. Unfortunately, this will never happen. Read more →