While financial institutions continue to assure their customers of the safety of online banking, none can guarantee an account won’t fall victim to fraud. Cutting-edge technologies offer convenience, but also attract a cutting-edge class of criminals.

Early last year hundreds of HSBC online bank customers suddenly discovered their checking accounts had been drained of $2,000 each. According to an account on consumerist.com, one customer was told by the HSBC Fraud investigator that the department was so overwhelmed they weren’t even sure how to handle it. When pressed with how many other customers had suffered the same fate, the investigator replied, “We don’t even know.” The size of the fraud was so severe, the bank was ill-equipped to tackle, much less identify, the problem and it took up to 10 days before the affected customers had the stolen funds credited back to their accounts.

Though anecdotal, the above story is just a recent example of a problem that has plagued the banking and credit card industries from the time online services were first introduced. Fortunately, there are certain measures which can be taken to protect both your money and identity while banking electronically. Many of these tools also apply to using your credit card online. Most fall under common sense, but in this age of quick-and-easy access, it doesn’t hurt to go over the sometimes overlooked basics.

1.Bank with the Big Boys – There are many online banks, mostly chartered overseas, that are not FDIC insured. Bank with these companies at your own risk. When choosing an online bank, the safest bet is to go with one of the larger financial institutions with a recognizable name. The large banks are moving towards more online and customer-direct banking in an effort to lower costs and improve their bottom line. They often provide the best in online security, but if it fails you want the safety-net of FDIC insurance.

2.Don’t fall for Phishing – Phishing is the online security firm for a malevolent entity attempting to acquire your user name, passwords, credit cards or any other personal data by masquerading as a trusted entity. This can be undertaken by various means but most commonly comes in the form of an email claiming to be from your financial institution. You’ve probably encountered these before and hopefully sent them straight to junk mail. The emails often look convincing with legitimate logos, but will ask you to connect via a provided link to a fake site where you will be asked to enter your username and password for verification purposes. Once you’ve entered this information, the criminals can attempt to access your account. These emails are normally pretty easy to recognize. They won’t address you correctly or by name at all, and often they contain grammatical errors. Legitimate emails from your bank will typically address you by your proper name and will never ask a customer to divulge their pin number, account numbers, or passwords. If you aren’t sure about an email you have received, call your bank and ask.

3.Phishing from the other side – Unfortunately, this attempt to appropriate your personal information and access your account can strike when you least expect it, after you have logged into your online banking site. Though rare, tech-savvy criminals have the ability to hack into a bank’s online system and re-direct the customer to a fake page where they are asked to once again enter their user name and password. If during an online banking session you are rerouted in such a manner, the wisest course of action is to terminate the session without entering any further information and then re-accesses your account through the bank’s home page. It would also be prudent to let your institution know such an attempt was made via their site. Better yet, ensure your bank is using the standard “secure socket layer” (SSL) protocol on pages that require secure information. Most banks use this technology on a few pages, but not on every page. (SSL-secured pages start https as opposed to http.)

4.User names and passwords – If you are going to be banking online, always choose unique user names and passwords. Avoid using your email address as a long in name and never use important dates, such as birthdays or anniversaries, for a password. If a criminal is trying to access your account these are often the first guesses that he will attempt to use. Always try to include both alpha and numerical characters in your login information, as use of both generates user names and passwords that are inherently tougher to crack.

5.Bank from home – If you are going to be banking online, try to avoid public domain computers. This includes both work computers and those you would use at an internet café, public library or any retail business. You have limited control over the safety measures taken at these locations and are putting your personal information at risk every time you share it here. If you are banking online and have no choice but to use a public access computer, be sure the username and password are not saved on the computer if prompted to do so. Once your session ends click on the Tools option of the browser and clear all saved forms, passwords, cookies, and history. For the two most used web browsers this feature is located under Tools/Internet options (MS Explorer) or Tools/Clear Private Data (Mozilla Firefox).

6.Stay protected – It is vital to keep your home computer protected with up-to-date anti-virus software and firewall protection. This is particularly true when you are banking from home online. There malicious software, or malware, that can unknowingly be downloaded on your computer while the user surfs the internet. These harmful programs can attack your computer in a variety of ways, but the most dangerous are capable of stealing your personal information by logging the keystrokes used when entering user names and passwords. This information is then transmitted back to the programs creator. This is why it is so important to keep your computer protected and update that protection regularly.

7.Keep alert – If you have an online bank account or use your credit cards for online purchases, check your balances regularly. If you notice any suspicious activity, notify the bank immediately. The longer it takes to report fraudulent activity the more difficult it will be to have those stolen funds restored.

Online banking can be a convenient and easy way to manage your personal accounts, but it will never be 100% safe. Still, there are ways online banking customers can increase the odds in their favor by using common sense and taking preemptive steps to protect themselves. Most importantly, communicate with your bank. Know their security measures and check the safety recommendations they make. If you ever have any questions or concerns about the security of your account, call the bank and get the answers you need. Its your right as a customer, so don’t hesitate to use it.

Helpful links:

FDIC: Safe Internet Banking

http://www.fdic.gov/BANK/INDIVIDUAL/ONLINE/SAFE.html

Online Banking Safety – LoveToKnow Online

http://online.lovetoknow.com/wiki/Online_Banking_Safety

If you’re 62 years or older, a legitimate reverse mortgage allows homeowners to convert their home equity into cash. Instead of making a payment each month to your mortgage bank, the bank pays you monthly. You can also elect to receive a lump sum or line of credit. Looks simple, but the “quicksand” of fraud and scams are deceptively alluring.

Speculators are buying houses on the cheap, doing minor cosmetic decorating and then reselling these dwellings to unsuspecting senior citizens at excessive prices. The deal is based on the senior citizen taking out a reverse mortgage sponsored by the scam artist, generally with exorbitant upfront fees. When the reverse mortgage is in place the scam artist usually takes all the money for the payment of the inflated property, leaving the sucker senior citizen holding the bag and probably still owing more money as a result of the terms of the scam transaction.

Also, these scam artists will use inflated appraisals and then promise this “mirage bargain” home with no-money-down, and as part of the swindle, arrange for the sucker to secure a scam reverse mortgage loaded with excessive fees for the service. Thus, the scammer diverts most and often all the proceeds from your reverse mortgage for themselves.

These crooks recruit and con naïve seniors; so do not be tempted by these “sweet-talking” swindlers. Here are a few guidelines to follow regarding any supposed reverse mortgages:

1. Don’t respond to any flashy advertisements and unsolicited promotions.

2. Stay away from anyone claiming you can own a home with zero cash down.

3. Never sign anything you don’t fully understand. Try and have a competent lawyer or accountant review all proposed contracts.

4. Seek out a legitimate reverse mortgage advisor.

5. The scammers target senior citizens through churches, investment seminars, radio, television, and mail/email advertisements.

6. A legitimate reverse mortgage never causes you to give up title to your home.

7. Watch out for upfront fees—never agree to pay them; as this demand is a tip-off that you are being set up for a swindle.

8. Watch out for any reverse mortgages that do not escrow sufficient money to pay required real estate taxes, insurance, etc. This could result in foreclosure.

Again and again senior citizens are being swindled by these “too good to be true” propositions. If you are truly interested in a reverse mortgage for your home that you have lived in for a long time—study the various plans offered by some of the well-known Banks such as Chase, Well Fargo and Bank of America. At least you will familiarize yourself with what programs are currently available. Never get sucked into a “No Money Down” scam promising to get you into a home for free. Run away from any of these sham offers. Be careful, and remember: “IF IT’S TOO GOOD TO BE TRUE–IT IS”! — ALWAYS!

We have reviewed the supposed Complaint prepared by Max Folkenflik Esq and have found that the Complaint is replete with lies, hearsay, fabrications and fraud, and for the mos part, without basis in fact or law. The Complaint is a blatant, rampant and rambling violation of Federal Rule 11; and apparently on its face, constitutes a fraud, on the court, the Client-victim, and on her Family and is a gimmick to shake-down the Victim’s Family and the Defendants so that Fisher and Folkenflik make off with a shakedown-dishonest pay-day at the expense of a substance abusing and admitted mentally impacted ‘stooge’ Client.

Stay tuned for much more detail and proof of this developing story.

If you are fortunate enough to have accumulated money to invest, you better be darn sure you are not turning it over to a con-man/scam-artist. They are everywhere! Don’t be dazzled by slick-talk and glossy brochures or an expensive lunch—keep your eye on the ball—the safety of your “nest-egg”.

First—check all available credentials and records thoroughly.

Contact Government Agencies:

(check on licenses and disciplinary records of your proposed planner/advisor)

a) National Association of Securities Dealers (NASD) — 800-289-9999

b) Securities & Exchange Commission (SEC) — 800-732-0330

c) Certified Financial Planners-Board of Standards (CFP) — 888-237-6275,

830-7543 x219

Obtain References:
Get the names of clients and make sure the “client” is a legitimate “real” person or business. Telephone these references and courteously ask questions.

Ask Your Proposed Advisor the following questions:

a) Specifically what services they provide (ie: cash management, tax planning, estate planning, retirement planning, recommendations for investing).

b) What Licenses they hold and their specific qualifications; and in which State are they licensed?

c) What type of investments are they licensed to offer?

d) How will the planner/advisor prepare your financial plan and will it be in writing? Does the planner/advisor set goals?

e) What continued and ongoing services will you receive? — Such as financial products, research, analysis of your financial situation and recommendations.

f) Does the planner/advisor take possession of your assets or have access to them via any form of Power of Attorney over your assets?

g) What are their other clients like, and how have their investments performed over the past one, five, ten years?

h) Most significant, ask how the advisor/planner is to be paid, and how all such compensation is calculated. Is it an hourly rate, flat fee, percentage of assets, commissions, etc.

Always Be Sure to Obtain a Written Fee Schedule and Remember:

When it comes to handing your nest egg over to anyone—you must be very, very careful! Look what Bernie Madoff did. Although the Madoff numbers are astronomical — scams at every level go on all the time. Only a few years ago, a bunch of celebrities, including Leonardo DiCaprIo, were scammed for millions of dollars by a sweet-talking yet a phony/scam-artist supposed “Advisor”. The selection of a Financial Advisor is really difficult. Many banks and brokers offer these or similar services, but most of their personnel’s qualifications are marginal. Again, you must use your instincts.

Scamraiders suggests that you get recommendations from your accountant and/or lawyer and you do your own legwork. But be careful. DO NOT GIVE A STRANGER YOUR POWER OF ATTORNEY, OR CONTROL OF YOUR MONEY. If you are finally satisfied with who you choose to hire, do so; but YOU control the account—at least until you are fully comfortable and feel confident, safe and secure. If you plan to “put your eggs in one basket”, as one great money-man said, “watch the basket very very carefully!”

NEVER become complacent— that is how Madoff made off with billions! Again remember—“IF IT IS TOO GOOD TO BE TRUE, IT IS”—ALWAYS!

PS: If you are a senior citizen take a look at AARP Financial Inc. At least, this Program seems safe—- as best it can be in the volatile economic times we now live. STAY ALERT—PLEASE.

Read More >>
Courtesy Think Progress

Siebert and his co-conspirator Lawyers, Joseph M Burke and Kenneth V Gomez have colluded to cover-up Dr Siebert’s convictions at NYU -Langone Medical Center for narcotics abuses, sex abuses, insurance fraud and thefts. As part of their scam, Siebert at a Hearing before Referee Louis Crespo testified and committed Perjury about 100 times regarding Siebert’s sex rapes of patients, and his Convictions at NYU. Burke his lawyer suborned Siebert’s perjury as Burke represented Siebert at NYU and knew Siebert was convicted of thefts, sex abuses and narcotics abuses.

Thereafter Siebert and Burke, filed false Medical insurance documents so that Siebert could and did Rob Medicaid, Medicarc, Blue Cross-Blue Shield.

Siebert and Burke thereafter in a scheme to defraud the Unified Courts ‘COMPROMISED’ judges, referees and others to cover up Sieberts corruption and Sieberts theft of Mr Jim Couri’s $20,000,000.00

Siebert is now a desperate convicted thief. He has been fired from 4 NYC Hospital and evicted out of 5 NYC medical offices. Siebert and Burke are now trying anything including extortion, threats, collusion and bribery. Siebert is now being charged by Barbara Paloucci for stealing from Medicaid and then attempting to convert her $25,000.00 in concert with lying lawyer Joseph M Burke Esq.

Meanwhile Burke and Gomez are along wit Siebert and others in the ‘cross-haires’ of the DOJ for interstate crimes, bribery, tampering, Courthouse collusion, Medicare-Medicaid and healthcare insurance thefts and RICO——They have been caught threatening, harassing, extorting and abusing Sieberts Victims including Diane Kleiman, Muriel Karass, Barbara Poaoucci, Jim Couri and many others.

Please See DOJ Medicare sweep in a recent News Article that will be posted with this Report on Scams Inc Homepage———-Stay Tuned

Now Rachel has come forward again wit a letter confirming that Gomez is stalking her. Siebert has hired Gomez and his thug cheating lawyer Joseph M Burke Esq to extort, intimidare and abuse anyone who has reported Siebert for his molesting sexually his patients and other victims.

Siebert has been exposed as a pervert and a sex abuser resulting in Siebert’s being fired from $ NYC Hospitals and evicted out of 4 or 5 medical offices.

Now Scamraiders will be Posting Rachel’s current complaint letter on Scams Inc’s Homepage, Monday May 7,2011 with the envelope for all to read.

Rachel among other things correctly reports that pervert sex-vulture Siebert:

“Leaves a trail of pain everywhere Siebert goes.” and “Siebert was born without a soul”

Meanwhile Rachel is being ‘stalked’ by according to Rachel by lawyer Kenneth V Gomez Esq. Scams Inc. has no further proof of the charges about Gomez, but based on Gomez history of abuses, lies, threats, extorting and frauds, anything is possible.

Possibly Mr Gomez would post his position and response to Rachel’s charges?

We are now verifying the Report and the charges within it. Wher Scamraiders and Scams inc is satisfied that these New-Charges are genuine, we will publish the Report for all to read.

Siebert has been molesting and abusing many victims that has resulted in Siebert being fired from FOUR NYC Hospitals for sexual abuses of patients, insurance thefts and narcotics abuses.

This victim here in this Report charges—’stalking, harassment, pain, suffering and charges that Siebert was born without a soul’——-
stay tuned

Scamraiders has recently received enquiries from people who have experienced problems and scams involving online dating services. No matter if you are seeking love in a bottle, or a quick tryst, there are scam artists who use the internet to entice and swindle you through your heart and then to your cash. Many of these swindlers will have the brazen audacity to require your money first just to get started. Many will ask for personal information after making you feel comfortable that they are truly interested in you. These supposed lovers/romance queries are cleverly interspersed with questions about your financial data; so they can size you up. Some of these online dating scoundrels will use your confidential data (that you unwittingly provide) to steal your identity.

There are a number of online services who, after their scammers lure you in, will further enticed you by sending phony photos of handsome men and gorgeous women. Once you pick one that you are attracted to, the real scam begins. You will begin to exchange romantic possibilities. Then soon you will bypass the service and communicate directly via email. The scammer will gain more of your trust. Once the con-artist has “roped you in” and established the fantasy of a genuine relationship, they will begin asking you for money. Either they will ask for airfare so that you can meet and “embrace”, or the scammer will tug at your heart claiming a medical emergency where immediate cash is needed; or they will come up with a bunch of other clever angles to disenfranchise you from your hard-earned cash. These charlatans will even con you to go the airport where you wait for your fantasy “lover” who of course never shows-up —your money gone, heart broken, and disillusioned.

Sadly, most people who get hauled into these online relationships, out of desperation and loneliness, will fork-over untold sums in the hopes of arriving at “Shangrila”, along with the fantasy online lover.

Be alert. DO NOT ever respond to unsolicited email “love letters”. This is yet just another scam. If you answer, the scammer will know you are vulnerable and a “mark”. There is no love to be found out there via strangers from emails. Finding love is more difficult than making money; you really have to work at it, and you will not find it on the internet.

Now that said, Scamraiders is carefully analyzing “on line dating services”. Regretfully most of them are not what they claim to be. The supposed legit sites insist that their users provide VERIFIED profiles. Thereafter, these Sites appear to attempt to match you with others that you can hopefully, fairly, try and develop a meaningful relationship. This is their claim, but who knows? There are even scam claims and negative comments out there about these well-known internet service providers as well. Really, the true answer is—get up and get out—- try your best to meet people “face to face”—at social functions, Church or Temple functions, or through reliable friends. Remember always: IF IT’S TOO GOOD TO BE TRUE—–IT IS!!!

The Task Force is an interagency group, set up in November 2009 by the current administration, linking members of state and local law enforcement with over 20 federal agencies, 94 US attorneys offices and regulatory authorities in an effort to specifically target financial fraud.

Attorney General Eric Holder, Federal Bureau of Investigations director Robert Mueller and Urban Development Inspector General Kenneth M. Donohue stood with other task members to tout the impressive returns of their first coordinated effort to fight mortgage fraud, Operation Stolen Dreams.

Since its inception on March 1st of this year, the aggressive effort to investigate and prosecute housing financial crimes both criminal and civil has seen almost 2,000 defendants stand before the court to answer for scams in the area of $2.5 billion. The nearly 500 convictions and civil actions have also managed to recover over $200 million from the crooks.

The scope of these crimes is quite staggering. As befits the melting pot that is the United States the players, both victims and perpetrators, in these scams cover a wide range. Here are some examples of the scams busted by Operation Stolen Dreams:

LOAN MODIFICATION SCHEME IN DULUTH, MINNESOTA

A former mortgage broker was sentenced to 270 months in federal prison for stealing some $400,000 who believed they were simply refinancing their homes. In fact, Michael
Fiorito was reselling the homes without his clients’ knowledge.

Though he promised the victim’s home equity checks, Mr. Fiorio was proven to have physically intercepted those checks and deposited them. Some victim’s were forcibly
intimidated into endorsing the checks over to the criminal.

REVERSE MORTGAGE SCHEME TARGETING THE ELDERLY

Two Atlanta men plead guilty in April to charges that they were involved in a scheme that profited from the corruption of a program designed to assist seniors by obtaining cash
equity for their homes or providing funds for the purchase of new
housing.

By faking down payments and using stolen identities to inflate the appraisals, the men were able to create false equity of the homes in the hundred of thousands of
dollars. After securing the reverse mortgage loans they would then
divert the funds to themselves and the initial homeowners would
receive no assistance.

COUNTRYWIDE SETTLES FOR $108 MILLION

Even the big boys came under the microscope as the Federal Trade Commission and the Department of Justice’s US Trustee Program were able to wrangle a $108 million
global settlement from two Countrywide mortgage servicing companies.

According to the June 17th press release, the companies were accused of inflating fees “charged to cash-strapped homeowners whose mortgages Countrywide was
servicing, made false or unsupported claims about amounts owed by
borrowers in bankruptcy, and charged fees to borrowers that were not
disclosed until after the borrower’s bankruptcy when attempts were
made to collect the fees.”

Overcharged bankruptcy debtors and others falling victim before Countrywide was purchased by Bank of America will be eligible for payouts from the $108 million redress
fund. Going forward Countrywide must provide borrowers in bankruptcy
with adequate notice as to charges and the company will be under
further scrutiny as their internal procedures for ensuring the
accuracy of data used in servicing homeowner loans is now subject to
verification by a third party overseer.

HATIAN-AMERICANS’ IDENTITIES STOLEN IN MIAMI MORTGAGE FRAUD

Two defendants were arrested and charged in Miami for a scam that managed to procure some $4.4 million in fraudulent mortgage loans.

One defendant advertised herself to the Haitian-American community as an assistance provider for immigration issues and a manager of government-sponsored housing programs. Those
who visited her for assistance were asked to provide their personal
information, this included names, social security numbers and copies
of driver’s licenses.

The two defendants then used this information to purchase property without the victim’s knowledge or approval. After the properties were closed, the defendants would
then file false quit-claim deed transferring title back to a company
the defendant’s owned. By the time the scheme was busted, they had
created almost $2 million in losses to various lenders, and caused
countless financial headaches for folks who had come to them in good
faith seeking assistance.

TIPS FROM THE FBI TO HELP AVOID MORTGAGE FRAUD:

— If you want to purchase or sell a home, get referrals for real estate or mortgage professionals. Don’t stop there though, check with state and local regulatory agencies to
ensure the validity of their license.

— Do your own footwork to find out what similar properties in the area have sold for or for how much they are being listed.

— Don’t let anyone talk you into making a false statement on a loan application. Not your realtor, not the mortgage broker – no one.

— Don’t sign blank documents or any document containing blank lines. Read and review before signing, and if you don’t understand the documents hire an attorney to review
them for you. It will be money well-spent.

LINKS:

If you think you’ve been victimized, please contact your local FBI field office:

http://www.fbi.gov/contact/fo/fo.htm

Want to learn more about the Financial Fraud Enforcement Task Force? Then visit:
www.StopFraud.gov