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Fraud Glossary |
Avoiding scams and fraud
You can sidestep would-be scammers by following these common-sense rules:
- DEAL LOCALLY WITH FOLKS YOU CAN MEET IN PERSON - follow this one simple rule and you will avoid 99% of the scam attempts on 2ndLifeRacing.
- NEVER WIRE FUNDS VIA WESTERN UNION, MONEYGRAM or any other wire service - anyone who asks you to do so is a scammer.
- FAKE CASHIER CHECKS & MONEY ORDERS ARE COMMON, and BANKS WILL CASH THEM AND THEN HOLD YOU RESPONSIBLE when the fake is discovered weeks later.
- 2ndLifeRacing IS NOT INVOLVED IN ANY TRANSACTION, and does not handle payments, guarantee transactions, provide escrow services, or offer "buyer protection" or "seller certification"
- NEVER GIVE OUT FINANCIAL INFORMATION (bank account number, social security number, eBay/PayPal info, etc.)
- AVOID DEALS INVOLVING SHIPPING OR ESCROW SERVICES and know that ONLY A SCAMMER WILL "GUARANTEE" YOUR TRANSACTION.
Who should I notify about fraud or scam attempts?
- FTC toll free hotline: 877-FTC-HELP (877-382-4357)
- FTC online complaint form (www.ftc.gov)
- Canadian PhoneBusters hotline: 888-495-8501
- Internet Fraud Complaint Center (www.ic3.gov/)
Recognizing scams
Most scams involve one or more of the following:
- inquiry from someone far away, often in another country
- Western Union, Money Gram, cashier's check, money order, shipping, escrow service, or a "guarantee"
- inability or refusal to meet face-to-face before consumating transaction
Account Takeover: when someone takes your personal information and attempts to takeover your existing accounts
Ad Verification: A Process to protect both buyers and sellers against fraudulent activity that is done before the active ad is online.
Buyer Scam: a fraudulent business scheme where a fraud buyer wants to send you an over payment cashier’s check just to have you send them back the difference.
Counterfeit: a copy represented as an original, such as money or documents.
Escrow: It reduces the potential risk of fraud by acting as a trusted third party that collects, holds and disburses funds according to Buyer and Seller instructions
Identity Theft: When a perpetrator steals key pieces of your personal information. That may include your name, credit card information, home address and phone number, social security number, date of birth, etc.
Phisher Email: An email sent by a perpetrator in attempt to get you to provide information that will allow someone to steal your identity. Phisher email appears to come from a legitimate source and may include graphics and formatting that make it look official.
Pharming: A fraudulent practice that seeks to obtain personal information by misdirecting users to spoof sites without their knowledge or consent.
Scam: A fraudulent business scheme
Seller Scam: a fraudulent business scheme when the seller asks you to send a deposit or payment via Western Union or other wire transfer methods.
Wire Transfer: An electronic transfer of funds
To add to our Fraud Glossary, please forward suggestions to pat@2ndliferacing.com
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