Monday, November 8, 2010

The latest SCAM? The 'Looking for a Cosigner' SCAM.

I have seen this scam on Cragslist, and on some Google searches. However, it really hit home when I saw someone posting it as a Work At Home type opportunity, on a Work At Home forum that I frequent.

The scam looks like this (or something very similar):

Subject: Looking for a COSIGNER - compensation $500+ per monthly

Hi Dears!
My name is:
I am 20 and I am a college student, who started a business. It is web directory - which specializes
in publishing and advertising. I did everything by myself - so if you need advice on how to get started - DBA, Business account - I may help.
So everything is going great - except one thing I was not ready for.
To accept payments online - ( to process Credit Cards)- you have to open a mrchant account. I have a problem doing that as i need a strong cosigner with an excellent credit history. I am in despair - because I have lot's of clients - and can't accept payments.
At the same time I have to pay to technical department and stuff.
Your credit will not be at risk at all - as I am the owner. I will pay you 10% of my month revenue - right now it is $500 - but my business is growing fast.I will disclose all pertinent information about me (i.e. address, business name, etc.) so you can at least know I'm not keeping anything from you and am trustworthy
I want to earn your trust. If you are open to what I have just expressed, please reply so we can discuss further.

Thank you

As with many scams, there are consistent spelling and grammatical errors. Red flag!
The scammer is trying to get your personal and bank information. With this info, they will likely try to hack into your account, steal money or your identity (which is a Felony, BTW).

If you see an email, forum post, etc., report it to the carrier or forum, accordingly.

Watch out for the SCAMS!

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