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Fraud Glossary |
Account Takeover: when someone takes your personal information and attempts to takeover your existing accounts
Ad Verification: A Process to protect both buyers and sellers against fraudulent activity that is done before the active ad is online.
Buyer Scam: a fraudulent business scheme where a fraud buyer wants to send you an over payment cashier’s check just to have you send them back the difference.
Counterfeit: a copy represented as an original, such as money or documents.
Escrow: It reduces the potential risk of fraud by acting as a trusted third party that collects, holds and disburses funds according to Buyer and Seller instructions
Identity Theft: When a perpetrator steals key pieces of your personal information. That may include your name, credit card information, home address and phone number, social security number, date of birth, etc.
Phisher Email: An email sent by a perpetrator in attempt to get you to provide information that will allow someone to steal your identity. Phisher email appears to come from a legitimate source and may include graphics and formatting that make it look official.
Pharming: A fraudulent practice that seeks to obtain personal information by misdirecting users to spoof sites without their knowledge or consent.
Scam: A fraudulent business scheme
Seller Scam: a fraudulent business scheme when the seller asks you to send a deposit or payment via Western Union or other wire transfer methods.
Wire Transfer: An electronic transfer of funds
To add to our Fraud Glossary, please forward suggestions to pat@2ndlifetools.com
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