Identity Theft and a List of other Common Scams
How these frauds work
Inheritance scheme: Targets are told a wealthy stranger died and are asked to help with banking. The come-on arrives in a lengthy letter asking for help in transferring large amounts of money. Recipients are assured large sums of money for little effort in return for their bank account data. Funds are then stolen from the victim's bank account. Identity theft:
Names, SIN or credit card numbers are hijacked. Signs of such theft are letters or phone calls stating approval or denial by a creditor when no application was made. Collection agencies contact victims demanding money; credit card statements arrive for purchases never made. Credit card statements no longer arrive. Cheque overpayment:
A phoney cashier's or personal cheque is received by the seller of a good or service for more than the amount owed. They're asked to deposit the cheque and wire the excess funds back to the purchaser. The deposited cashier's cheque is then returned as counterfeit and charged back to the seller. Advance fee:
The Nigerian letter scam, the pitch begins as a request for an urgent business transaction which can arrive through paper mail, e-mail or fax.