The Various Types of Internet Scams


If you routinely visit the Internet, you’ve probably seen innumerable advertising pages promising you extraordinary sums with minimal effort in exchange for a tiny fee to join their programs. Perhaps some of them were so enticing that you paid their affiliation fee only to discover, hours or months later, that they would never give you the promised return. Check out the Best info about Cryptocrime.

Spotting an internet scam can be difficult at first. Still, if you understand the principles, you’ll notice that the methods utilized by fraudsters are always the same, with only minor variations. This page describes the most common Internet scams so that you can recognize them and avoid them as soon as possible (and possibly take action to inform authorities) if you encounter one.


The term ‘identity theft’ typically refers to obtaining personal information about you that can later be utilized without your permission. Identity theft schemes include the following:

a) Credit Card Theft

Credit card information can be obtained in various ways, the most basic of which is to copy information from stores, either online or offline. Numerous reports of crackers acquiring massive amounts of credit card information from organizations’ databases. Despite guarantees made by the credit card industry and retailers, using credit cards for online purchases is not entirely secure and still includes some risks. Even so-called “secure transactions” are untrustworthy because the information must be decrypted to plain text before processing. This is one of the most common locations when credit card information is taken.

a) Obtaining Wire Transfer Information

Some con artists contact merchants and demand enormous sums of money. Then, after promptly accepting the merchant’s quote, they request wire transfer information to send money. Immediately, they use online check issuing platforms such as Qchex, which require only a valid email address, to generate checks that they can use to pay other merchants or send associates to cash.


This sort of fraud consists of an employment offer to assist in transferring funds to a foreign corporation, ostensibly because it would be too expensive to do so through other means (which is usually not the case). Other times, you receive an email from a stranger indicating that he received a cheque in a foreign currency that he is unable to cash, offering you to cash ‘1000’ at his location and send him back ‘400’ in advance, keeping the remainder – when the check is a forgery. Such schemes are easily recognizable because they are improbable in real life, but unfortunately, some people still fall for them.


Phishing refers to attempting to get sensitive information such as passwords or credit card details, typically by email. A typical phishing strategy involves sending an email posing as the bank or money-related service you use to convince the user to log in. The URLs in the email lead to a clone site owned by the fraudster, which records all fields entered while logging in to the site rather than the legitimate vendor site. E-Bay-related communications are one of the most popular types of phishing.


Ponzi, pyramid, and matrix schemes are unsustainable business models that involve exchanging money mainly to enroll others in the scheme, usually without giving any product or service. When the cycle involves a sufficient number of people who had participated in the program (or when the program itself has saturated,’ the scammers will vanish with all of the money of the most recent participants. Some people regard such schemes as gambling (trying to invest in them even though they are scams, betting that the system will not saturate while their money is supported). Still, this behavior is frequently regarded as barely legal and explicitly prohibited by law in many cases.

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