More on Scams

by | Sep 28, 2004 | Archives

Below are numerous warnings from readers who have added to our recent message about scams. We will have a special session on how to avoid scams at our upcoming November course. See details below.

“Gary, I have received over a dozen emails about a foreign national needing a US person to receive funds, winning lotteries I never entered, etc. I have kept over a dozen and do not know who to report these to or see if they could be REAL?”

My reply: These are not real. I get about one of these scams a day. These are all variations of the Nigerian scam that have gone on for decades, first by mail, then fax and now email. Avoid these like the plague. Delete them!

“Gary, There is another e-mail sent around that is sent with the Citibank logo, that is a scam.”

My reply: I received two this morning and do not have a Citibank account! They are scams, scams, scams!

“Gary, I have seen the scam applied to US Bank as well. It's

reasonable to think that they will try to emulate most other

banks before they are done.”

My reply: I have received them from numerous banks now. They are all cons!

“Gary, Thanks for the alert. A short time ago I received two such e-mails, one supposedly from Citibank, the other from Keybank. Since I hold neither card nor account at either, my decision was easy…hit the delete key. Citibank and Keybank did appreciate being notified about the scam, however. I notice Citibank has posted a scam alert on its site. None of these links below work (this is just a copy paste from the Citibank site) but if others want to check it out they can go to or contact Keybank at (1-800-539-2968) in the US or dial the access code of the country you are calling from and when prompted, dial 1-216-813-7001, collect to alert them that their site has been duplicated by a scammer. Meanwhile, have a great day and we hope to see you at the real estate seminar!”

My reply: Good thinking and great action.

“Gary, I have received the one from Citibank that your reader mentioned, and there is also one from another bank, I think it was called Sun Trust Bank.”

“I have gotten a couple of notices purportedly from CitiBank (clue number one: I don't have a CitiBank account), and B of A sent a notice to customers not to give out confidential information to anybody asking for it in notices like this. Thanks for the heads-up.”

“Gary, Yes, you're right. I, too, am highly suspicious of these e-mails. In the past month or two, I have received some very curious ones – one from

SunTrust Bank and another from Citizens Bank. Each asked me to confirm my bank details by following the link that is supplied in the e-mail.”

“Gary, The current issue of Forbes magazine has this scam as its cover story — known as “phishing,” the spelling following the “phone phreaks” scams of the '70's where people stole long distance time. The current phishing scam is what you describe: a very official-looking email purportedly from a financial industries company asking you to go to their site and verify your credit card and account numbers, etc. Clicking on the hot link in the email takes you to an exact replica of the Citibank, eBay, AOL, etc., site where you are asked to furnish your financial vitals. Once done, they've got your info. Citibank and eBay are the two I get frequently, but they arrive under the names of lots of different prominent companies leading the unwary to think its something official. All such emails should be deleted immediately. The creativity of criminals never ceases to amaze.”

“Gary, I got two from “FDIC” and one from “Wells Fargo”, my mortgage holder. I deleted them all but don't know if “Wells Fargo” was a coincidence or they may also have access to some inside information as well.”.

My reply: They are using any names hoping to catch the unexpecting who have accounts at that particular bank.

“Hi Gary, I've been reporting and forwarding these types of emails

to both paypal and ebay for the past few months. A good tip is to NEVER login to any site other than from the home page.

“Gary, I have pinged the sites these are coming from and your suspicions are correct they are scams. There is one from citibank and paypal going around too. The pay pal scam says unless you update your information

your account will be locked out. Of course they are all phishing for user names and passwords.

My reply; Good advice. Beware!

Gary, Many things are forwarded to me by friends who want me to 'pass it on' are checked by me before passing it on. I keep encouraging people to check it out before sending things on, but they don't. I find most of it scams, listed in It is so easy to check. One friend kept passing on all these great deals, like $50 from Applebee's.

My reply: is good!

“Gary, I recently traveled to Romania,and loved it. However I was taken for quite a bit of US dollars by two people waving badges claiming to be passport police. They demand to see passports, and then ask to see U.S. dollars as there is American passing bogus dollars in the area. I after panicy thought, took out dollars to show and they took off. This was in broad daylight with many pedestrians walking by. Pass this on.”

My reply: New economies in Eastern Europe have this problem. When we took groups to Hungary and the Czech Republic we found the pickpockets and thieves especially strong. But this happens everywhere.

Remember a few years back. Thieves were killing tourists in Miami!

When visiting any place as a tourist be extra aware and do not carry very much cash. In the end the only protection is our own wits and care. In this modern world, with the millions of police and institutions that purport to protect us, thieves are out there trying to steal from us every single day. Be careful use common sense and most of all protect against your fear and greed. These are the tools that con artists use against you

Until next message, good investing and business.