Different Types of Scams Daily Express Online
In Macau Scam, you will receive a call from someone posing as an employee of a legitimate body such as the bank or as law enforcement.
They force you to transfer money to a bank account in response to threats of arrest for your “involvement” in crime, drugs or tax evasion.
Some may also try to persuade you that your identity is being used to commit a crime.
These elements of intimidation can cause fear, especially in someone who is never used to receiving calls from so-called officials.
The crooks will use this fear as an opportunity to offer help to the victims. Victims may accept the offer in shock and fear; to the point of even being willing to disclose their banking information to the scammer.
In October 2019, Sabah Police carried out one of their biggest scams in Macau, arresting 80 Chinese during raids on separate entertainment venues in Penampang.
The union is also suspected of being involved in stock market and investment fraud.
Gang members were apprehended after a report was filed by an elderly man who made a total of RM 1.4 million in transactions on 12 different accounts after receiving a call from a “police investigator” ‘accusing of money laundering.
Because he was afraid, the victim put a huge amount of money in all the accounts before realizing that he had been duped.
Ecommerce or online shopping scam
Ecommerce scams refer to fraud that occurs on an online shopping platform. Often, scammers trick victims into making payments for online purchases that are not delivered to them.
During the Movement Control Ordinance, criminal cases related to e-commerce or online shopping increased.
Scammers can tempt online shoppers with seemingly great deals for the latest gadgets, limited edition products, or concert tickets.
There are three categories of romance scams, namely romance scams that target single people, romance scams that target those with traits of infidelity, and romance scams that take advantage of those blinded by so-called love. .
In scams that target single people, crooks will feign romantic intentions to trick victims into sending money under false pretenses.
Some will offer jewelry or even money for the purpose of getting married, but the package will eventually be “confiscated” by customs.
“They will build a ‘romantic relationship’ with many promises of ‘someday we’ll be married’.
“The false customs officer will contact the victim and ask him to pay the price of the release of the package. The victim will lose both their money and the “package” in the end.
Another type of Love Scam targets people with traits of infidelity. The “partners” involved in a cyber affair may never meet in person, but the “emotional” connection and the “sensual” nature of the affair may persuade the victim to accept the investments offered by their online lover.
The Internet enthusiast will promise quick profits, which the reckless victim will accept, which will make him lose not only his money, but also his “lover”.
The third romance scam targets those who are willing to provide useful services to their “online lovers”.
In this scenario, the online lover will seek help with making hospital or insurance payments. The victim is ready to help because love is blind.
In 2019, an elderly woman from Sandakan was scammed for RM50,000 by someone she knew via Instagram.
She sent money to the suspect’s account with the intention of helping, only to realize that she had been conned after the man could not be contacted by her.
Business email compromise scam
A business email compromise is a type of scam targeting businesses that conduct wire transfers. The crooks pose as the CEO of the company or some other executive and send an email to the finance staff. Typically, a fraudster will send a fake invoice or request for payment information.
Businesses can be fooled by these scammers if they complete a transaction without first verifying it with the actual business.
An investment scam is a fraud that tricks victims into believing that the profits come from a legitimate business activity.
Many are attracted to investments offering high benefits on the Internet.
The feeling of wanting to get rich quick can lead people to believe in online investments that turn out to be non-existent.
Online loans or non-existent loan scam
These online “loans” can cost up to RM 5,000, but only take two hours to get approved. But instead of paying only 5,000 RM in return, victims will end up having to repay 50,000 RM.
Police have warned the public to beware of job posting scams where criminals offer high returns when you shop online on certain platforms.
In one scenario, the victims were offered eight percent profit on each transaction.
As a result, if they spent 100 RM, they would make an additional eight percent profit.
The crooks will pay you the profit if you pay 500 RM.
The naive victim would start to believe in the pitch and acquire items for 5,000 RM, 6,000 RM or 7,000 RM. And this is where your money will be gone.