One of the most dangerous but low-key sort of scams are those that don’t make outrageous claims and make things look as legitimate as possible.

Take for example the money transfer scam.

Rachel Boyd, a single mom of three, found what looked like an excellent work-at-home offer. Leman Wealth Management had an online presence, a lot of official-looking papers and even had a full-blown phone interview with Boyd before ‘accepting’ her for the job.

Everything looked clean, until the company deposited $4,600 to Boyd’s bank account and told her to wire that money to another company.

That is when Rachel Boyd found herself wiring stolen money to a recipient that could no longer be traced thanks to the wire transfer – effectively putting her in $4,600 debt to the folks who got their cash stolen.

This is the modus operandi of money transfer scams: find someone who is desperately looking for a job, bait them with some decent-looking materials, put up some show money and then have the person wire that money to another account.

The problem here is that the victim of the scam will have to pay back that stolen money, which is exactly what Rachel Boyd has to do with the $4,600 she had wired.

What makes this kind of scam stand out from other scams is that there are no outrageous claims of easy money here. Your ‘employers’ will offer you a job and pay you money for it. Even the act of entrusting you with large sums of money instills a sense of pride in someone who has finally found a ‘decent job’ after all that job hunting.

This is a lesson for single moms – or anyone – who is looking for a job: never, ever wire someone else’s money to another account. You WILL have to pay that money off yourself if it is stolen, so beware!

Last updated: May 4, 2012 by & filed under Blog

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