Want to make a fortune with little work and no knowledge? Here’s how to start your own investment scam, step by step — or learn to avoid one.
Today’s question is about scams; specifically, why so many people seem to fall for rip-offs.
Watch the following video, and you’ll pick up some valuable info. Or, if you prefer, scroll down to read the full transcript and find out what I said.
The harvesting fraudster
These are the guys who steal credentials usernames and passwords from online banking, credit cards and other types of ID theft. They use technical infrastructure such as phishing keys, trojans and other types of malware which are hosted over the internet and sent to the consumer.
The cash-out fraudster
These are the fraudsters who cash-out’ or make money from the credentials. For example, if one of these fraudsters was given credit card details on a disk, or online banking passwords, they would be able to empty the accounts.
Whereas the harvesting fraudsters are all about the malware technology, the cash-out fraudsters will have an operation – for example, having physical drops’ where money can be dumped. They will also be able to monetise selling goods on the black market for cold hard cash.
How to decide
The cash-out fraudster will never have contact with the consumer they are after the credit card details or bank accounts. It depends on you point of view: do you want to deal with the technical side harvesting, phishing etc or do you want to recruit mules and end up cashing the account?
Two – What to defraud
The world is your oyster. It’s not just financial institutions that you can defraud, but internet services, social networks, online games, and virtual worlds.
Social engineering is one of your best tools, so understand how it works. It’s easy to get people out there to perform actions or divulge confidential information with some simple trickery with malware, such as phishing attacks or trojans.