Investment Fraud and Financial Scams
Case Overview of Investment Fraud
Floridians have lost over $311 million to investment schemes in 2023. Florida ranks third in the country for such losses. These scams often target retirees and younger people, using social media and the internet to promote fake opportunities. Scammers promise high returns with low risk, making their offers very tempting. You can read more about these statistics and trends here.
Prevention Tips for Investment Fraud
- Verify Credentials: Confirm the credentials of anyone offering investment opportunities by checking their licenses and registration with regulatory bodies.
- Read the Fine Print: Always read the terms and conditions associated with any investment. Pay attention to fees, penalties, and how your money will be used.
- Avoid Pressure Tactics: Be wary of high-pressure sales tactics or urgency to invest quickly. Scammers often try to create a false sense of urgency.
- Diversify Investments: Do not put all your money into a single investment. Spreading out your investments helps reduce the risk.
Money Laundering Conspiracy
A detailed money laundering conspiracy involving multiple continents and millions of dollars has come to light. Fraudsters pretended to be bank representatives to trick small business owners into giving out sensitive bank account information. These details were then used to start wire transfers to money launderers. One notable case involved a woman named Daphne De la Caridad Gonzalez, who was sentenced to 46 months in prison for her role in this scheme. More on this can be found here.
Online Shopping, Holiday, and Other Consumer Scams
Holiday and Online Shopping Scams
The Florida Attorney General has warned shoppers about holiday-season scams, especially with many people buying gifts online. Scammers take advantage of the excitement and rush of the holiday season to target consumers.
Prevention Tips for Holiday and Online Shopping
- Shop from Trusted Sources: Make sure you buy from reputable retailers and avoid suspicious deals and links. Read reviews and check the website’s security before making a purchase.
- Use Secure Payments: Use credit cards for safer online shopping instead of wire transfers or gift cards, which are harder to track and recover if something goes wrong.
- Verify Charities: Before donating to holiday-related appeals, ensure the charity is legitimate. You can check their status on websites like Charity Navigator.
- Gift Card Safety: Buy gift cards only from trustworthy retailers and check for signs of tampering before purchasing.
- Avoid Recalled Products: Stay updated on product recalls through resources like the U.S. Consumer Product Safety Commission to ensure your purchases are safe.
Pet Scams and Citation Collections Scam
- Pet Scams: A man in North Miami scammed a buyer out of $7,000 by falsifying DNA records for a French bulldog he was selling. He provided fake DNA results and veterinarian documents to convince the buyer. The scammer was arrested and charged with willful false representation but has not reimbursed the victim.
- Citation Collections Scam: The Miami-Dade County Animal Services Department has warned dog owners about a citation collections scam. Scammers call people pretending to be from Animal Services, claiming they must pay past-due citations immediately. Do not give out your credit card information over the phone. You can verify citations online or by calling 786-469-2900.
Prevention Tips for Other Consumer Scams
- Stay Informed: Regularly check local news and official websites like the Miami-Dade Consumer Protection page for updates on scams.
- Be Skeptical: If something sounds too good to be true, it probably is. Always question unexpected emails, messages, or calls asking for personal information or money.
- Protect Personal Information: Avoid sharing personal, bank, or credit card details over the phone or email unless you are sure of the recipient’s identity.
- Report Suspicious Activities: If you encounter a possible scam, report it immediately to the Federal Trade Commission or local authorities. This can help prevent others from becoming victims.
