Cyber Criminal

Recognizing The Signs of Fraud

Financial scams have been on the rise around the world, and unfortunately, have been rising in sophistication. Fraud was introduced to the Internet most notably by the Nigeria 411 scams, i.e. advance fee fraud. That was then, this is now.

Scammers today are using worldwide access to the Internet to their advantage. Accounts such as webhosting a new website, bank and credit accounts can now be easily opened on the Internet, from any location. Having some false identification gives the scammer the upper hand here, as he has essentially created an alias with little, if any, traceable information.

The False Website Approach

Many financial scams are taking the form of the classic advance fee fraud, but with a higher level of sophistication and tactics. Websites are often created with templates or a design is stolen from another reputable and legal investment company. Once the site is complete, the criminal has created what appears to be a legitimate website and company. The headquarters for these fictitious firms are often located in the United States, so the website claims. These sites are mearly a tool for fraud.

How to distinguish a real investment website from a fraudulent one? Search Google and Yahoo for the company to determine if there are other sites referencing the firm. Check the site itself to see if the firm has contact information. A website without an address or phone number is a red flag for potential fraud or scam. Search phone directories for the firm’s telephone number. Lastly, check with the SEC’s website for signs on how to recognize these investment scams, and to verify registration of the firm.

Knowing the Signs of Fraud

Although the level of sophistication in these scams continues to rise, an educated consumer can know the difference. Scammers today always contact their victims with an offer - the potential victim has been selected. The firm representative may speak perfect English, and even understand investments and asset management. He may even request you submit an IRS form and other documents. Bottom line, this person will request personal data and/or payment promptly and without ever meeting you. Be skeptical and ask for the firms’ references and SEC filing.

Getting Verification

If you’ve searched the Internet for references, checked local phone listings, maybe even contacted the SEC for verification, and spoke with company representatives and claimed references - and you’re still not sure? Contact a professional investigation company, like Wymoo International or Philippine PI for help. Get the facts on who your dealing with - then decide.

All the Best,

S. Birch

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URL theft by a partner or co-owner: We receive calls every week from companies who essentially tell us that an ex-partner or company owner has taken control of their domain registrations and that the now-ex-partner refuses to release the stolen name to the company. Perhaps the name was registered initially in one partner’s name. In some cases, that business owner redirects the domain to another website, essentially putting the online business out of business. More often, the business owner demands some sort or money or other consideration in exchange for the domain name. Essentially, they use the URL as leverage to obtain something they couldn’t achieve in the context of the partnership. This is perhaps the most common example of domain name theft. Domain names stolen in this fashion account for about 25% of the calls and emails we receive in the domain theft area.

URLTheft by Employees: Unfortunately, corporate management is rarely involved in the registration process of their domain names. Registration of domains is often handled by the IT department, and even delegated to lower level web site employees. Because of the high turnover rate at that level, the employee with access to the domain registrant login information ends up leaving the company, taking that information with them. Again, if there is a dispute with the employee, it often turns into a domain name dispute after termination. Once the domain registrant information is stolen, it can be difficult to retrieve.

URL Theft by Vendors: Sometimes, a technology vendor or web site developer uses their own information to register your companies domain name, even going so far as to list their company as the registrant of your trademarks. If a billing dispute arises down the line, the web developer uses the URL as leverage to get paid. Even more common, the web vendor goes out of business and the company doesn’t realize that they have no way of obtaining control of the domain name or even renewing the domain name at the end of the registration period. If a domain name is stolen by the web developer or vendor, you could be in big trouble if the vendor’s company folds, the web developer moves away or you become the target of cyber-extortion.

The words “someone stole my domain name” are words said far too often in our business. Companies must take their intellectual property rights more seriously and protect their intangible assets like they do other tangible property. An ounce of prevention is really worth a pound of cure. Control your registrant login and you will control your domain name from theft.

Mr. Schaefer is a seasoned trial attorney practicing internet, domain and trademark law on a global basis. Mr. Schaefer has first chair trial experience in a wide variety of litigation matters, including class action litigation, internet and domain law, cybersquatting actions, intellectual property, commercial and fiduciary litigation, UDRP and IP licensing. He has represented some of the largest companies in the world in litigation, domain name, trademark and related matters. He is a frequent author and presenter on issues related to protecting business interests in a global internet economy. To find out more about trademark protection, copyright law, cybersquatting and complex litigation, please visit Traverse Legal, PLC or visit our domain name protection blog or cybersquatting blog Article Source: http://EzineArticles.com/?expert=Enrico_Schaefer

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