Scams Uncovered 

Introduction

By definition, scams are cheating activities with scammers creating fake documents or information in a transaction, and make victims believe that they have to make the payments or have already received payments.

The amount involved in scams can vary from a few dollars or much higher amount. 

In one of the scams we share below, it involved the loss of $100k in a scam involving a UK bank.  In another scam we share below, it was experienced by one of our management’s 12-year-old son who lost the toys and the courier fees of less than $10.

We have compiled hundreds the documents in four categories: Fraud, Scam, Imposters, Non-Performers in the Member Resource Library

Join us as a member to access the hundreds of documents and email exchanges (in PDF printouts).

Natwest

In early 2015, we were introduced to an investment program in Natwest Bank, based in London.  It was introduced by two fraudulent agents, Kelvin Li and Guarav Batra.

We offered this investment to a client, and an account was created for the client with the bank account name in the client’s name in Natwest Bank.  When the client transferred the fund to the account, it took a long time for the bank to confirm.

We became suspicious and requested the client to recall the fund through the remittance bank in Singapore.  We also tried to contact Natwest Bank but the officers were not cooperative.

After 10 banking days, we were informed by the bank that the bank account was closed and all the funds were withdrawn. The bank denied responsibility.

We highly suspect this scam is crafted This scam Check out the related documents proofs from the Resource Library on Scam Proof.

"Bitcoin"

Recently, in Sep 2019,  one of our directors received a call from a “UK Government Agency”.

The caller informed him that he was instructed to call him to refund the investment in Bitcoin, which the Binary investor agent had invested on behalf.

The caller informed him that the UK government had uncovered the Binary Investment Group was a scam and were in the process to refund capital or profit to the original investors.  They managed to convince our director to provide his Identification cards for verification. 

Luckily, our director became suspicious when they requested a copy of the credit card.  He gave an old card and found that the caller and his group were trying to withdraw funds from his card.

Our Compliance Team did research of the caller’s email address and found them to be an India Company.  Check out the email printout from the Resource Library on Scam Proof.

"Citibank Page"

Our office had an extra electrical appliance, and so we decided to sell through Gumtree.

An American contacted us and requested for us to deliver to an Indonesia address, claiming that he wanted to give to a child he adopted in Indonesia. He offered to pay for the new appliance close to our sale price.

We felt it was weird but we did not object since he was willing to pay.  However, when we received the payment receipt, our Compliance team noticed a slight differnce between the ususal Citibank’s website address.

We sent an inquiry to Citibank and received a prompt reply.  Citibank confirmed that the website with the payment confirmation does not belong to them. Thereafter, we tried contacted the buyer but he has gone missing.

 

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