Scams » Scam And Its Types »Share Market Scams

Share Market Scams

Individuals and others are seriously concerned about the scamming activities that are taking place on the internet and mails. Hundreds of cyber criminals are living a sophisticated and dignified life after swindling the money from the commoners and these hooligans take different avatar and follow mind blowing methodologies while interacting with the customers. Innocent people have lost their money only when they replied to the mails of scammers operating from different destinations. Corporate houses and business people should show caution while parting their personal and banking details to the strangers. People fall prey because

Beware of Share Market Scams
the mails from the scammers will look realistic and official excepting for few errors. Scams related to the stock market trade are something very interesting and peculiar. There was an interesting scam which happened in US where one famous stock trader who started his life as a carpet cleaner at the age of 15 became an owner of $280 million stock trading company within a short span of time. This guy also owned lots of luxurious cars like BMW and Ferrari and also had beautiful mansion in his name before involving himself in the scamming activities. After becoming so rich this guy financed illegally to some ABC company and forged thousands of receipts and documents. Police nabbed this guy red-handed and the court sentenced him to 25 years of imprisonment and fine to the tune of 1 million dollars. There were several such biggest scams related to stock market that were committed by extremely popular stock traders and stock intermediaries.
Scams related to stock market colleges are making the rounds everywhere. In these types of scams the scammer will pose himself as a share market college representative and will make calls to several random numbers. If someone picks up the call he will try to fix an appointment with that person for an interview. If the person on the other end nods 'yes' he will go to his house and will try to convince him that he is from the famous stock market college and this college is offering platinum package at discounted rates. He will have a receipt book with him which will look like original. If the innocent person pays the money he will run away with it. Scams related to share market software is also becoming very famous these days and many dubious companies are offering free downloadable software that works on binary algorithm. These dubious companies will call their company software as prediction or binary digit software and sell it to the customers. This software will attack the computer system and damage the programs that are stored in the operating system and also the complete hardware. These types of binary software vendors will also request the buyer to provide a nominal amount as a deposit for activation or ask other personal information from the buyer and they will strongly instruct that the software will be activated only if the amount or pin number is given. If the customer provides the same he will steal the amount from bank account through different time-tested methods. So, the buyer of the software should never part their banking details or pins and should also escalate the matter to the concerned authority. Scammers will also request the recipient of the mail to open the power point representations or other slide shows to impress them. They will also offer stock market tips to impress the public. Never impart the personal or banking details to the scammer.

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