Fraud comes in many forms
This week I continue my look into some common fraud schemes you may be exposed to.
Internet fraud: This is the use of internet services or software with internet access to defraud victims or to otherwise take advantage of them.
Investment fraud: Using false or fraudulent claims to solicit investments or loans or providing for the purchase, use or trade of forged or counterfeit securities.
Letter of credit fraud: This type of fraud is often attempted against banks by providing false documentation to show that goods were shipped when, in fact, no goods or inferior goods were shipped.
Market manipulation fraud: Commonly known as “pump and dump” (I love that!), this creates artificial buying pressure for a targeted security, generally a low-trading-volume issuer.
Nigerian letter fraud: This fraud combines the threat of impersonation with a variation of an advance fee scheme in which a letter is mailed or emailed from Nigeria and offers the recipient the opportunity to share in a percentage of millions of dollars that the author is trying to transfer illegally out of the country.
Nondelivery of merchandise fraud: A scheme most often linked to internet auction fraud but also can be considered a form of business fraud in certain cases.
Ponzi schemes: These frauds promise high financial returns or dividends not available through traditional investments. Instead of investing the funds, however, the con artist pays dividends to initial investors using the funds of subsequent investors.
Prime bank note fraud: The victim is encouraged to send money to a foreign bank, where it is eventually transferred to an offshore account in control of the con artist. From there it is used for the perpetrator’s personal expenses or is laundered in an effort to make it disappear.
Reverse mortgage scams: Generally engineered by unscrupulous professionals in real estate, financial services and related companies to steal the equity from the property of unsuspecting senior citizens or to use the senior to unwittingly aid the fraudsters in stealing equity from a flipped property.
Telemarketing fraud: Sending money to people not known by the sender personally or giving personal or financial information to unknown callers.
The information for this article has been gathered from the FBI and can be investigated further on its website www.fbi.gov.
The age-old adage of “If it looks too good to be true, it generally is” plays true in most of these types of fraud.
Next week I will visit the most common type of all, identity theft, and how you can help protect yourself and your loved ones from this growing issue.
Dec. 29. Traffic: The driver and passenger are both in custody for numerous violations, including traffic, burglary tools, narcotics, paraphernalia and suspected forged items, at 1:06 a.m. in the 1600 block of Nevada Highway.
Suspicious vehicle: Subjects going door to door selling meat and seafood at 2:15 p.m. in the 800 block of Sandstone Court.
Thought for the day: Nothing spells professional like a fridge in the back of a car.
Dec. 30. Vehicle burglary: The unlocked vehicle proves, once again, to be too much temptation at 8:57 a.m. in the 600 block of Arrayo Way.
Suspicious: The man is repairing a trailer but promises to be on his way in a few hours at 11:28 a.m. in the 700 block of Yucca Street.
Thought for the day: Opportunity knocks when we leave the door open (literally).
Dec. 31. 911: The inebriated subject cannot seem to recall how he got a knife stuck into his hand at 5:25 a.m. in the 1200 block of Potosi Street.
Parking: The woman states that she thought it was permissible to use a deceased relative’s handicapped placard at 10:16 a.m. in the 1000 block of Nevada Highway.
Thought for the day: Really?
Jan. 1. Accident: The driver survives the single-vehicle rollover at 4:39 a.m. in the area of mile marker 39 at U.S. Highway 95.
Accident: Nevada Highway Patrol requests medical assistance at another rollover with one injured and the nonbelted driver deceased at 10:43 p.m. at mile marker 41 on U.S. Highway 95.
Thought for the day: Seat belts save lives, folks.
Jan. 2. Civil: A person is in the lobby to ask about custody issues at 11:08 a.m. in the 1000 block of Arizona Street.
Vagrancy: A request comes in for extra patrol because of excessive trash and hazardous material issues during the dark hours at 2:12 p.m. in the 1600 block of Nevada Highway.
Thought for the day: Custody issues are the jurisdiction of family court.
Jan. 3. Suspicious: There is a report of a man resembling Eric Cartman from “South Park” frantically loading boxes into a banged-up vehicle at 7:20 a.m. in the area of Del Prado Drive and Mariposa Lane.
Suspicious vehicle: The caller finds the two men in the ’55 Chevy suspicious at 1:54 p.m. in the 1300 block of San Felipe Drive.
Thought for the day: The two men in the really fine-looking ’55 find it really suspicious that their gas gauge doesn’t work.
Jan. 4. Attempt to locate: Officers are on high alert for a road-rage subject with a handgun thought to be coming through our jurisdiction at 11:10 a.m. in the area of U.S. 93 at mile marker 6.
Vagrancy: Officers receive a request for extra patrol and a trespass citation for an indigent sleeping near the building after hours at 4:34 p.m. in the 1000 block of Buchanan Boulevard.
Thought for the day: Boulder City is a major route in and out of the Las Vegas Valley, so be careful out there.
Call of the week: Suspicious: The caller states the polka-dot rooster just appeared at her house, and she wants officers to take it away. However, the wall art is the responsibility of the homeowner at 9:43 a.m. Dec. 30 in the 700 block of Avenue A.
Tina Ransom is a dispatcher with the Boulder City Police Department. She is coordinator of the Boulder City Citizen’s Academy.
