> Report Uncovers the Latest in Online Scams -- and How to Spot Them 
> The SEC currently fields more than 100 complaints a day about illegal Web
> activity. In 1998 alone, the National Consumers League received 7,752
> Internet fraud complaints. 
> Online fraud is on the rise and in the news -- the April PairGain
> Technologies stock hoax was a prime example. Clearly, con artists are
> milking the Web for all it's worth. To help surfers identify a scam and
> avoid getting bilked, PC World's July consumer report, "The Online Con,"
> outlines the top four Internet swindles -- and what consumers can do to
> protect themselves. 
> Here are the most common rip-offs: 
> Online Auction Fraud 
> The scam: Illicit online auctions, especially person-to-person. 
> Telltale signs: Unbelievably low prices for desirable items, seller's
> evasiveness about providing a phone number, lack of email response,
> promises to get you an item that's not in stock. 
> The danger: You post the winning bid, send in the money, and get nothing
> -- or you get an item that's nothing like the one advertised. 
> Advice: Pay attention to an auction site's evaluation system; pay by
> credit card; or use an escrow agent like www.escrow.com. 
> Pump and Dump Scams 
> The scam: Stock manipulation and touting. 
> Telltale signs: Stocks hyped out of the blue without background or
> supporting information. 
> The danger: Loss of entire investment amount, with little or no chance of
> recouping it. 
> Multilevel Marketing Schemes 
> The scam: Pyramid scheme. 
> Telltale signs: Profit is all from recruitment effort, no real product or
> service is sold. 
> The danger: Only about 2 percent of investors ever see any money at all;
> the rest lose everything they put in. 
> Credit Card Swindles 
> The scam: Cramming -- charges for items never ordered. 
> Telltale signs: Mysterious charges on credit card statement and telephone
> bills for Internet products or services never ordered, such as membership
> in porn sites. 
> The danger: Initial charges may be insignificant and go unnoticed; victims
> may have a hard time getting previous months' charges removed. 
> © National Security Institute, Inc. 
> 

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