Ten New Money Scams, Part 3

Here’s the third (and final) installment of money scams to be on the lookout for…

7. Pharming — You’ve heard of phishing, but what about pharming? Pharming refers to the practice of hacking into your computer and installing hidden software that redirects you from legitimate e-commerce sites to copycat sites designed to steal you credit card numbers and other data. If you want to protect yourself, be sure you’re running up-to-date virus protections and anti-spyware software, and also consider a firewal. Or get a Mac.

8. Internet telephony trickery — Some overseas scammers have learned to use VoIP technology to mask their location, making them look like their in the United States. According to the article, many American are wary of overseas scams, but are more likely to let their guard down if they believe they’re dealing with someone in the U.S. Yeah, like there aren’t any scammers here!

9. High-tech ATM snooping — The California Bankers Association reported in 2005 that scammers had taken to attaching wireless video cameras to the front of ATMs in hopes of capturing your card number and PIN from a remote location. So be on the lookout for any suspicious devices in and around an ATM.

10. Scholarship and government grant flimflams — Crooks have begun capitalizing on the hopes and dreams of cash-strapped college students and their parents by claiming that they’ve qualified for one scholarship or another — as long as they pay a processing fee and/or provide their social security number or credit card number to hold the award. And we all know what happens next.

See also: Money Scams, Part 1 and Money Scams, Part 2

[Source: Reader's Digest]