Foreign Frauds

Some foreign frauds which affect the people in some way or the other

➢ 419 frauds
➢ Lottery prize fraud
➢ Boiler room fraud


There are many reasons why these types of frauds happen and why people fall for them. Usually in these foreign frauds people are offered a large sum of money and anyone would be tempted when they hear or see the amount that is being offered. Most of the victims who are taken in by these scams are those who live on an average income or on some sort of government benefit , some may be unemployed or some of them may be facing some sort of financial difficulty in their lives and need extra money to make ends meet. With the world going through such a bad recession some people have lost their jobs and some even their homes. The large sum of money that is promised to them after they have paid a small amount of fee sounds too tempting to them and it becomes so hard for them to let go of the offer. Though many people claim only the foolish fall for such scams but there are some very smart and rich too who fall for them too , only they may not report these incidents to the authorities as they don’t want to appear foolish. These seem to be instant paths to riches and many find them hard to resist. The money would seem a way out of a financial misery for many. Victims at times borrow money to pay the required ”processing” fee and end up not getting the amount of money promised and even losing the deposit fee.

Many of people who are cheated in these types of frauds go through depression because they may have borrowed money from someone else example from banks, money lenders, loan sharks etc. to pay the fee that was required. Sometimes these depressed victims commit suicide as they are not able to repay these loans. There are some who end up selling their homes, cars , jewelry to repay the loans and are left bankrupt. Some victims who are not able to repay the money , disappear form that area without a trace and hope that this way they can escape from the financial mess they are in. Most people report these cases to the authorities but there are of course some people who don’t report these incidents as they feel ashamed that they have been cheated , especially those from the upper income group , as they don’t want people to think they were foolish enough to fall for these scams. It is important though, that these scams are reported to the authorities so that the criminals can be tracked down and action taken against them. By exposing these scams other people become cautious and are more aware of these incidents.