Threats to the Economy of Australia - Essay Example

Scamwatch Name Institution Scamwatch Introduction A scam is a fraudulent plot performed by a deceptive person, group or organization with an attempt to acquire money or something substantial (Magnusson, 2006). Traditionally, scams were general tricks, where an individual would give themselves credits or claim to be experts, i.e. a specialist, attorney, and speculator. After broadly utilizing the web, new tricks developed, for example, trick goading, lottery tricks, email ridiculing, phishing, or demand for help, which are considered as email misrepresentation. In Australia cases, the level fraudulent activities have risen to a fatalistic level that has called for the government to intervene. Australia experience different fraudulent schemes such as scammers deceive other people of getting unexpected money, fake charity contribution, promises of unexpected winning as well as promises of jobs and investments. Cyber scams include; attempts to get personal information and dating and romance (ACCC, 2012). Dating and Romance People looking for romantic partners mainly from dating websites, dating apps or social media are vulnerable of being scammed. Scammers play with the weakest part of people looking for a partner, which is the emotions. They pretend to be prospective companions and take advantage of you by exploiting for gifts, money as well as personal details such as bank accounts information and may end up robbing you of everything. Apart from scammers using online dating sites, they can also use social media or email to contact you. Scammers may use the social media as a tool to obtain your information and learn enough about to know you are in need of companionship. Therefore, they play with these by making themselves available and real helpful to you with the primary purpose of gaining your trust. With your contact information, they can also make telephone calls to make their introduction. This act is also referred to as “catfishing.” To gain your details the scammers make their dating profile as well which is mainly designed to allure you in. Mostly they use fake information that will be manipulated to make them very likable or fit the profile that the targeted individual is attracted towards. The tricksters must do their research thoroughly to acquire details about you that they must know you before so that they act and behave to like most of the things that you do. They can even suggest liking something even before you do to make you feel comfortable around them, as they will have common things with you. Most probably, they will use false identity Dating and romance con artists will express compelling feelings for you in a brief timeframe and will propose you move the relationship far from the site to a more private channel, for example, telephone, email or texting. They frequently claim to be from Australia or another Western nation, yet voyaging or working abroad. They will put everything on the line to pick up your advantage and trust, for example, showering you with adoring words, sharing 'individual data' and not putting up sending you blessings. They may take a lot of time even months to build what may feel like the opinion of a lifetime and may even proclaim to book flights to visit you, however never truly come. Once they break down your defenses by gain your trust, thy might even ask for money pretending to have a real emergency. They may also play to acquire your personal details such as banking details or your private pictures. However, you will not realize it, as you already trust the person. For them not to raise suspicion they will also occasionally send you valuable items and request them to be sent somewhere else. At some levels, they will ask you to buy the goods yourself and send them a particular destination. They will always come up with a convincing reason as to why they cannot make the purchase or the delivery. Dating and romance can also pose a risk to personal safety as they can be part of an international criminal network and they can allure the victims to travel overseas and expose them in grievous situations. Let us consider the real time situation of Catherine who resides in Outcasts of Melbourne. She was friend requested on Facebook by a charming young man by the name Joe and accepted. They communicated via Facebook, shared photos and after a while, they see it fit to exchange contacts for allowing for easier communication. The family of Catherine was well up and could be clearly seen from the photos of her that she posted. Photos that Joe shared you could also tell he was a well-established man. Catherine ended up trusting from their conversations they always fancied of meeting each other, but it was a problem as Catherine’s parent were strict. Nevertheless, she one day arranged for a meeting and cheated her way to get away from the house. Things did not turn out as expected, as Joe did not turn out at their meeting place. Instead, Joe gave her an excuse and redirected her to a particular restaurant. She even told her that he was a known member and that everything will be catered for. After Catherine went and was served, she later woke up in after several hours in very different place. Calls were made to her parent asking for ransom threatening to harm her. Arrangements were made for payment and Catherine was later released but in a very terrible condition (Army, 2017). Buying and Selling Scams They are referred to as classified scams that usually deceive buyers or sellers into thinking that they are dealing with a genuine contact, which turns out to be a trickster. Scammers may post advertisements on classified websites and may also approach you through social media or email. The ads can be anything from automobiles, houses, used electronics and pets. To make the ad convincing they also include pictures and bid it at a low price to lure victims quickly. When a victim shows interest, the scammer plays a very busy person and suggesting to send an agent to deliver after receiving payment claiming to be on a business trip overseas on a business trip. Scammers may also pose as sellers, and mainly they pretend to need payment for costs such as insurance and transportation and may promise to refund the amount. They may also send an overpriced check and ask for a refund through online banking only to realize later that the cheque has bounced. According to Tred (2016) on an article on car selling scams, an individual advertised to be selling a used car and on the classifieds. A very interested buyer approached him saying that he needed that car very urgently as it had a very significant price and seemed to be in good condition and emphasized that he is in love with that brand and that he was searching for it. The buyer sent the cheque in advance, but it had an extra $1000. Later the customer called for refunding via online banking, and from the goodwill, my friend reimbursed only to realize he was scammed. Fake Charities It is a deceptive plot that involves scammers impersonating unfeigned charities and call for donations. They can also contact someone, claim to be working with a particular genuine organization and pretend to collect relief funds for an inevitable natural disaster. The scammers try to exploit the generosity of well-wishers and the compassion of those really in need. These scams do a lot than costing well-wishers money, but they also drain donations that very much needed away from legit charity organizations. These cases of fraudulent activity seldom occur throughout the year, which may be a response to a real calamity say floods, earthquakes, cyclones and bushfires. Tricksters will act like either specialist of authentic well-known philanthropies or make their particular philanthropy name. This can incorporate philanthropies that direct therapeutic research or bolster infection sufferers and their families. Scammers may likewise play on your feelings by asserting to help youngsters who are sick. Faux charity organization works in many various diverse ways. You might be drawn closer to the city or at your front entryway by individuals gathering cash. Tricksters may likewise set up fake sites which appear to be like those worked by sound foundations. A few con artists will call or email you asking for a gift. The Australian government is creating awareness to people by making them know of how to detect a scam. People are required to be very cautious before making any donation because if the name of the charity organization is not familiar. Web site, letters, and emails can be done to look as if they are genuine and only change the details of where the donation money is to be sent. All personnel collecting donations should be representing a legitimate organization and their bear identification. People should also be aware of forged identification. Before donating demand for identification check if the face attached to the identification card matches the beholder. You know it is a scam if you are requested to make a cash donation and no receipt or asked to make the cheque out to them other than the organization. To protect us from being scammed it is good to be thoroughly careful. First, if you wish to make any donation, it is advisable to approach the organization and make your donations there directly. Most of the charity organizations are registered, therefore, before considering making a donation do a deep lookup for the group legitimacy and ones satisfied you could offer your support. Never be manipulated to make charity gifts and avoid making an arrangement with total strangers asking for money. Beware of cyber scammers and do not open any suspicious email. These emails may contain bad links that once clicked they install harmful programs that may be used against you. Betting and Sports Investment Schemes These tricks are essentially a betting covered as authentic speculations. Most of the trickster plans or projects do not fill in as guaranteed and purchasers cannot recover their cash. Mostly, the provider just vanishes. The scheme may also involve a scammer telling convincing to sell you software that correctly predicts the results of various games usually team sports such as football, soccer, basketball, and horse racing. Scammers may also convince you to join a betting syndicate whereby you will be required to pay a necessary initial amount to register and open a betting account. You are told the funds will be used to by the syndicate to place bets and promised a certain percentage of income at certain intervals. Another scheme is where you might be tricked to invest in sports. The trickster targets private venture administrators, experts, retirees or others with assets to invest. These plans are typically advanced as business open doors or ventures at exchange fairs, appears or utilizing the web. Individuals may likewise be reached with the help of a spontaneous telephone call, email or letter. The con artist will use specific or money-related terms, for example, 'sports arbitrage,'' sports wagering,' 'sports betting,' 'sports tipping' or 'dons exchanging' to make these tricks look like pure blue speculations. Limited time material frequently appears as shiny and advanced pamphlets or sites that contain charts or outlines promising expansive returns for next to zero exertion. The con artist may likewise guarantee that their organization is enrolled with the Australian Securities and Investments Commission (ASIC) People should be aware of people who approach them with investment promising huge income with little or no risks. People constantly pressuring you to into buying or investing into the product should be avoided, as they are scammers. Alexandria shared his story on social media warning people not to fall in scammers like he did (Willacy & Solomons, 2014). He said that he used to bet on soccer matches frequently and he was almost addicted to it. He could bet anything. A person approached him and claimed to be into betting too. They bonded talking about soccer, and the person introduced him to this idea of software that was sold on black market. He the man praised the software very much he even shown him how it was working and the returns that he gained in a day. He exaggerated that the in a day he could make an interest of over a ten thousand dollars. He explained the software guarantees no loss. Alexandria agreed with him, so he asked the person how he could obtain the software. The man decided on selling it to him a price of only fifteen thousand dollars. Alexandria tried to bargain but the person did not flinch. So they arranged for payment. Incompletion of payment he was offered the software and a few tutorials on how to use. Alexandria later realized that the software was only providing mere guesses, and it was no good but it was too late, he had already suffered the loss. Conclusion A scam has been seen as a major issue in Australia it is a threat to the economy. People should be made aware of fraudulent activities. The government has therefore introduced this website called scam watch. To allow people have the required knowledge to spot a scam from a distant. They are made aware of how to be careful to prevent these shameful acts of individuals taking advantage of others. It has also raised the alarm that scam is not only about losing money or wealth, but they can be an issue safety. It is better to be safe and report any fraudulent activity. References ACCC,. (2012). Targeting scams: Report on Scam Activities (1st ed.). Canberra, A.C.T.: The Commission. Army, (2017). Romance Scams Blog. The Untold Story. Retrieved 14 march 2017 from: https://romancescams.wordpress.com/romance-scams-the-untold-story/ Magnússon, M. (2006). Fakers, forgers & phoneys (1st ed.). Edinburgh: Mainstream. Tred (2016) Craiglist Car Scam. Retrieved 14 March 2017 from https://www.tred.com/test-drive-blog/how-to-spot-a-craigslist-car-scam-and-what-happens-when-you-dont/ Willacy, M. & Solomons, M. (2014). Gambling scam takes millions from Australian investors. Abc.net.au. 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