hard money lending fraud is making rounds throughout the world and many people have received these types of mails from the scammers. Scammers are highly versatile and trick the innocent people through their matured strategies. The pity and innocent face of the scammers will transform into terrorizing face when the target group replies to these criminal group.
Scams with respect to hard money lending are becoming popular these days since many people have started purchasing lands and buildings in prominent localities. Some of the scams related to hard money lending are upfront fees, total financing and bait and switch scam. In these types of peculiar scams the scammer will pose as a prominent money lender and will send a mail which will state "We are very happy to inform you that our company has decided to offer 100% financing for your real estate. To proceed further in this respect, we request you deposit a small amount for verification and as a fee for the future services". Close observations will reveal that the scammers have operated in a quirky way with an objective of swindling the money of the target group. Intelligent purchasers will not fall prey to these types of formal words and will stay away from these criminal networks those who are operating from various far away countries. But innocent purchasers will quickly fall prey to their glamorous words and deposit the amount. Scams related to hard drive is becoming very famous and recently Chinese hard disk fraud was in the headlines for the wrong reasons.
Following guidelines will be of great help to the public:
- They should never reply to the scamming mails. If the public replies the scammers will try to improve his rapport with the people.
- People receiving mails from the strangers should do background verification check and other serious checks before replying to the scammers.
- Whenever the public receives a mail stating 100% funding for the residential projects they should become alert since most of the lenders will offer only 65% to 75% funding for purchasing a property or remodeling the existing ones.
- People receiving mails from the third parties should never spare their personal information, bank details, online passwords and pins.
- They should escalate the matter to the police or cyber security department.
Scams related to hard copy ticket is also very famous and popular. Scammers will request the buyer of the ticket to settle the money in full before they send the tickets. They will often request the buyer to send the money through Western Union Money transfer or other such methods. Scams related to hard money loan and lending will only increase when the authorities concerned are unable to take proper decisions in this respect.