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Monday February 22, 2010 15:07

Vital Data About Frauds and Fraud Prevention

Posted by Odesi Desko as Financial

Everyone would like to think that at some point in their lives a money tree will rain bills upon their heads and solve all their financial woes. Unfortunately, as they go through life they realize that the odds of that happening are nil and none. A newer scam which hit the streets sometime in 2000 became known as the Black Money Scam and is a high-tech trick that rivals that of magicians performing on stage.

This scam is very similar to the advanced fee fraud except that there is actually a trunk of “money” which is used as an enticement. The way it works is that after an initial contact by a conman, marks are convinced that the black money in a trunk or safe is the real thing and, in fact, the one or two bills that are shown to them are very real indeed.

International shipping regulations and income taxes are cited as reasons to tint the money black and it is usually a most plausible excuse. Elmer’s glue has been used to coat the cash and which is then tinted by the simple expedient of using a red drink or simple iodine. The glue changes the consistency of the cash and the drink or medical iodine changes the color.

Despite the handful of bills shown to you being real dollar bills, sleight-of-hand and trickery is used to prevent you from realizing that the rest of the money is just construction paper. One applies a series of chemicals to the real bill, making it turn green again, showing the victim that the rest of the bills can undergo the same process.

The victim typically receives an email that was sent randomly among a list of email addresses that the scam artists pick up for one reason or another. Not many people will actually respond, but correspondence will result in eventual phone conversations; if this happens to you, you can use tele-lookup411.com/306/406/ to find out whether or not they’re a legitimate source or service, or if that number has been linked to other scams.

You’ll often be asked for money to address shipping fees and other costs that might be inherent in the transfer of the money. No matter the reason they give, they want to get you to give them the money. Victims who then become suspicious of the scammers will then be force to sign a document that states that they know that this is illegal money and that they’ll be getting it by avoiding taxes and customs procedures, in order to make it seem legitimate.

All sorts of new scams take time for people to catch on, which is what makes scams so lucrative when they first begin, for the con man at least. On the other hand, regardless of whether or not the mark gets to keep the case in which the funds are said to exist, you have to keep in mind that you’re being conned and you’ll eventually just get robbed of all the money that you possess. If the con artist tells you to avoid opening it for fear of tampering with the dye through oxygen, you should be suspicious.

The Wash Wash Ripoff has been reported on occasion by victims and the few arrests made and were due to the victims reports to the authorities. Ripoff artists rely on the victim’s shame at being misled to escape detection and delay the authorities search for them but a brave victim who reports can help stop these fraud attempts and save others from the same fate.

To find out more about the phone look up service which may help you avoid becoming a victim go to tele-lookup411.com/306/406/

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