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Posts Tagged ‘internet scam’

While advertisements for free ringtones, newsletters and contests are generally safe endeavors, there are several Internet scams that should be avoided. Knowing how to find these scams can help save a lot of embarrassment and money in the future.

Perhaps the most popular scam involves large banner ads for free laptops, television sets or MP3 players. The fine print, however, usually reveals the words “with participation.” Participation is a 15-step process requiring the user to sign up for magazine subscriptions, online movie store rentals and timeshares. While most of these offers will still deliver the “free” gift, the applicant has easily spent just as much (if not more) on goods and services they don’t want.

Another popular scam involves someone from another country asking for help in obtaining legal fees in order to free up an obscenely large sum of money. In exchange for the help, the party in need offers to gladly share his new found fortune. Whereas the free laptop scams at least yield some magazine subscriptions, these scams yield nothing but lost money and the occasional identity theft.

For those who use online money transfer or credit card services, this last scam is particularly troubling. The victims receive an email from an address strikingly similar to that of a financial institution. The email implores the user to reset their password as an updated security measure. This process usually requires the user to input their current password, which is then stolen and used to gain access to the victim’s funds. No respectable institution ever emails about changing passwords, so these emails should always be avoided as a rule of thumb. Although there are a few safe bets on the Internet, a general rule to follow would be that if it sounds too good to be free, it definitely is.

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