Beware of the “Refund Scam”!

There are many ways that scammers try to steal your hard earned money. A modern method, is to tell you either by scam email or phone call, that you have a refund coming to you; or that they have received a large sum of money from you and to contact them, if it is in error.

Online scams are bane of the 21st century. No longer do crooks need to physically enter your home to steal from you. Sadly now they can do it from the comfort of their own home and will reach out to you through the many means available such as via your computer; your landline phone; your cell phone either via calling or sending you a SMS.

You are directed to call a phone number to launch a refund request.

The scammer then takes control of your computer and makes it look like they have refunded more money into your account than what was owing to you.
They edit the script of your online banking page to change the balance amount of your account. So even though it seems that your account is suddenly showing a large balance it does not really exist!

They can also set up a third party as a payee and transfer money from your online banking account to this nefarious person.

They then ask you to settle the overpaid deposit back to them by way of gift cards such as iTunes cards, Apple Store, Google or Amazon gift cards.

These excellent videos by Jim Browning explains the process: click me
Here is another video: click me
Here is another video: click me
And another video: click me
And another: click me
And another: click me

Be aware and don’t be a victim!