Fraudsters are on the hunt again and their scams are becoming more elaborate and convincing according to the Nelson Police Department.
Police were notified by a local realtor of several property listings being fraudulently posted onto Facebook as rentals.
Police say rental scams often mimic legitimate ads but the seller has no actual control over the property. Typically, the scammer will request a deposit and then cease all contact once the money has been received.
“To protect yourself from rental scams, always check the identity of the seller online. Watch for red flags, such as newly created accounts with few details, friends, or listings. If possible, visit the rental in person or request a live video tour before sending any payment.” said said Special Constable Edwards.
Meanwhile, crypto scams are at it again, this time spanning over seven months and costing a Nelson resident nearly $30,000.
The man clicked on a Facebook link to what appeared to be a legitimate investment website called WildBearUnion.net. Overtime, he regularly spoke with company representatives who provided investment advice.
The situation escalated when the man was told his investment has grown to be worth $150,000 but the company would need a 10 per cent commission fee to access the funds.
Growing suspicious the man contact police.
“These types of scams can be elaborate and very convincing,” said Special Constable Edwards.
“Being educated on the techniques that scammers use is the best defense against fraud.”
Investigators determined that WildBearUnion was no longer active online. None of the supposed company representatives could be located, and multiple review sites had flagged it as a scam.
“Because it isn’t a regulated central authority, once funds are converted into cryptocurrency, they are untraceable and virtually impossible to recover.” Edwards explained.
Fraudsters can disguise websites and phone numbers to appear legitimate. Always conduct thorough research before making financial investments.
For more information on scams and fraud prevention, contact the Nelson Police Department or visit the Canadian Anti-Fraud Centre Website.
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