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Jim fink investing 201711/26/2022 ![]() ![]() ![]() Want to learn about Jim Fink’s next trades? Click here now for details. His 310F trade is the most accurate way I’ve ever seen to double your stake in just three days. Jim has developed a proprietary investing method that consistently beats Wall Street at its own game, in markets that are going up, down or sideways. A colleague who deserves a particularly close look right now is Jim Fink, chief investment strategist of Velocity Trader. Don’t be a victim.Įditor’s Note: The above article provides valuable insights to protect your wealth, but it only scratches the surface of the financial acumen of our advisors. If it seems the least bit fishy, do independent confirmation. But fraud doesn’t just come in the form of a Nigerian prince or Iraqi general who needs your help smuggling millions of dollars out of their country.ĭon’t be afraid to ask someone for a second opinion. We may fall for something that wouldn’t have slipped past us a decade ago. It’s frustrating to me that people fall for these things, but as we get older, sometimes our reasoning ability begins to decline. I learned from some who actually fell for the initial email that the “urgent task” was indeed to go out and buy gift cards and send the information to “him” at the conference. The scammer likely knew the CEO was away, and they used that information to execute the scam. I later learned that a number of people in the office had been specifically targeted. He confirmed that it didn’t come from him. This seemed fishy, so I reached out to my CEO in a separate email. Then I noticed that while the name was right in the email header, it came from a Gmail account. My CEO is normally three offices down from me, but he was at a conference at the time. Naturally, most people are going to jump to attention when it’s a message from the boss. It said “Robert, can you send me your cell number for an urgent task?” I recently got an email from “my CEO.” It looked authentic. Read This Story: Lessons Learned from the Bernie Madoff SwindleĬase in point. In a case like that, if you really don’t believe you are dealing with a scammer, make an independent attempt to verify the information. Nobody will reach out to you out of the blue and ask you to go buy thousands of dollars of gift cards. In this case, the $3,000 credit was removed from the victim’s account, and now instead of earning $800 he is out $2,200 for the gift cards he bought. Yes, banks accept fraudulent checks all the time, but when they are returned guess who is on the hook for the money? You are. In the meantime, the check is returned to the bank. That way, they can drain the cards immediately. The scammer asks you to send them the PIN from each card. So, if you were having apprehensions, you are now feeling much better. You get the cashier’s check and deposit it. They prey on your desire to make some fast and easy money. They will send you a check for $3,000, but they only need you to buy $2,200 of gift cards. They will have their secretary issue a cashier’s check and send it next day air to you. They can’t leave the conference, so they reached out to you to help them.īut have no fear. Maybe they are at a conference at a remote location, and realized that they needed to hand out gifts. Then they describe a difficult situation they are in. So, when they reach out, there is an immediate familiarity: “Oh, I know who this is.” In this particular case, they pretended to be a contractor that worked for the company employing the victim. The scammer pretends to be someone the person knows. ![]() You may think “How on earth does someone fall for something like that?” Here’s how. There are many variations of this scam, but they ultimately involve getting someone to purchase thousands of dollars worth of gift cards and sending the PIN numbers to the scammer. My friend’s father fell for a gift card scam. I never cease to be astounded that people fall for these scams, but today I want to talk about financial fraud in detail in the hope that you can protect yourself. Last week I learned that the father of a family friend had been scammed out of several thousand dollars. ![]()
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