How To Protect Yourself - Scams and Cons Explained

Protecting Your Financial Health

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Learn about scams before they happen. While we cannot offer legal advice we can teach and inform so you know what to watch for. Collection offers may sound valid, but companies want your money and may promise to help. This is your online scam, fraud and con prevention center

On these pages we tell you the truth about settlements scams, debt collector scams, false promises, and how companies later claim "There is no record of that conversation", and how to prevent future frustration

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The FBI says types of public corruption include:

Law Enforcement corruption at the state or local level typically involves the payment of bribes or kickbacks in exchange for official actions or inaction. It also includes any violation of law not necessarily connected to the official duties of law enforcement personnel.

Legislative corruption at the state or local level usually involves payment of bribes or kickbacks in exchange for official action or inaction. These bribes or kickbacks can be received by the legislators themselves, by aides, by staff persons, and/or by outside parties doing business with the government.

Municipal corruption involves illegal activities similar to legislative corruption. Common corruption schemes at a local level include bribes or kickbacks in exchange for: supporting local ordinances, approving local government bond issuance, reducing taxes unlawfully, fraudulently manipulating probate assets, and conspiring with others to rezone property or to influence land-use proposals.

Judicial corruption typically arises out of the corrupt influencing of state or local judges, juries, or court personnel (clerks, bailiffs, probation officials, and other administrative staff). Common corrupt schemes include: payments to judiciary personnel in exchange for dismissal of charges; reduction of charges, bonds, or sentences; waiver of fines; return of forfeitable property; and favorable probation conditions.

Contract corruption usually involves the payment of bribes or kickbacks to local or state officials in exchange for favorable treatment on government contracts. Potential subjects are private contractors, anyone acting on their behalf, and public officials involved in the contracting process (procurement officers, purchasing agents, city councilpersons, and county commissioners).

Regulatory corruption involves payment to local, state, or federal officials in exchange for favorable action or inaction pertaining to identification documents, licensing, and inspection and zoning variances. Unlawful payments are commonly known as bribes and kickbacks.

Prison corruption involves corrections officers taking unlawful payment for acts directly or indirectly related to their job. Common schemes include: smuggling contraband into the facility, granting unlawful privileges, and prematurely releasing inmates.

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Second Tier Investment Scams and The Elderly

In an article from New Zealand we learned that an investment firm was advising elderly borrowers to remortgage their homes and invest in second-tier finance companies has denied claims it put money in Beneficial Finance and Five Star Consumer Finance, both now in receivership.

This scam can be used anywhere in the world. Whenever an investment advisor mentions refinancing your home for the purpose of making an investment it should send up a red flag.

Scammers helped people take out interest-only mortgages on their homes and invest the money in Asset Finance, which pays 10.75% interest.

The difference between the interest on the mortgage and the interest from the investments, which is extended by claiming the tax breaks on borrowing to invest, is used to pay the mortgage and provide income.

If the finance companies fail the investor loses everything. The scammer also takes a fee for putting the deal together.

Here is a good way to judge whether or not you should invest at all. Has your banker approached you when you go to the bank? A good banker will notice how much you have on deposit and will offer to sit with you to discuss valid investment options.

Second tier investment scams are risky and costly. The scammer usually says you are fully protected, which is not true. The higher the risk the greater the interest and rate of return, but in some cases the risk is so high there will be no return. Just use caution and get a second opinion.

2010/09/03 · by T. Blake