Beware of Cross-Border Fraud

With telephone rates going down and the increasing use of the Internet, it’s easier to keep in touch from one country to another. Unfortunately, crooks can take advantage of this to reach across borders and steal your money.

Cross-border fraud is on the rise because crooks know that differences in legal systems, the difficulties of conducting investigations in other countries, the expense, and other complications make it more difficult for law enforcement agencies to pursue them. The most common cross-border scams involve:

·        Ways to win money through sweepstakes or lotteries

·        Promises of credit cards or loans, even if you have bad credit

·        Ways to make money working at home

·        Protection from losing thousands of dollars if your credit card is lost or stolen

·        Ways to shield money from taxes through offshore accounts

·        Promises of millions if you agree to transfer a fortune from another country to your bank account for safekeeping

·        Fake checks used to pay for something you’re selling, with an elaborate story for why you need to wire some of the money back

 These scams rely on lies or scare tactics to lure unsuspecting victims. In some cases, con artists pose as government officials. For example, they may claim to be customs agents and demand money to release your sweepstakes winnings. The supposed connection with government agencies helps make the solicitations seem more legitimate.

 It’s hard to know for sure where a company is located. Fraudulent telemarketers may have the mail forwarded to them from the U.S., and use phone numbers in Canada and the Caribbean that look just like long-distance numbers here. If you’re not sure whether a phone number is domestic or foreign, dial 00 and ask your long-distance operator before calling it.

 Foreign crooks often want the money to be wired to them. That makes it quicker to get and harder to trace. As the marketplace becomes more global, your choices increase. But be especially cautious when a stranger in another country makes you an offer. Get advice from the National Fraud Information Center, 800-876-7060, www.fraud.org.