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Home » Finance » About Money Scams – Time for some Money Matters


About Money Scams – Time for some Money Matters

Author:    Crosspay   |   October 12, 2021

Technology has become a part of our daily lives. It has become so sophisticated that you can run an air conditioner or control a house lighting system with voice command, and who knows what the future holds? Among them, the biggest and most appreciable invention is the evolution of mobile phones. It has made our lives a lot simpler. Who thought that thousands of rupees could travel hundreds of kilometres in less than a minute with a single click? Probably none of us, right.
Well, as things get easier, there will be a few tricks around it. We all know that scams on the internet are increasing. Commoners are not aware of how these scammers or hackers snap into your account or trick you into their trap, especially in money transfer scams. We are currently in a state of uncertainty when a money transaction occurs. We constantly have to reassure the authenticity of the website or application.
Get Protected from Scammers
Are you sure if your hard-earned money is reaching the right hands as you wish? What if they get into the hands of scammers? Can they affect your future payments?
We have an answer to it. Before that, let’s get to know what money scams and money transfer scams are.
By definition, a money mule or scammer is someone who transfers and launders illegally acquired money on behalf of someone else. These scams can happen in several ways and can be related to online dating, work-at-home jobs, or prizes. Likewise, a money transfer scam is when a scammer deposits money into your account and requests your help to transfer the money overseas through your account and offers to pay you for the transaction along with your bank details. Here you share your data with the scammer and thus you end up being a victim of illegal money scamming. 
How to avoid money scams?
Whatever your needs, try to gain as much information as possible before making any transactions, such as:

  • Make sure that you send money through a trusted money transfer organisation and that they have a safe history to show you. 
  • Block spam, unwanted calls and messages on your mobile phone and email.
  • Stop sharing OTP. It is one of the biggest mistakes you can ever make in financial dealings.
  • Legitimate organisations do not ask for your details via phone or text, but money transfer scammers do. Check the authenticity of the message and do not hesitate to seek help from your trusted financial sources if the messages or calls are causing you trouble. 

If you have fallen victim to a money transfer scam or lost money to a scammer, inform the concerned organisation and the police authorities to get your money back and protect your account from further problems. Your hard-earned money deserves to be in safe hands other than some fake figures hiding behind some IDs. Let us ensure that every penny that you transfer reaches where it is intended to reach.
Crosspay is a trusted source for many of our customers. Crosspay is a payment platform that allows customers to make personal and business payments over the web or mobile app from the UK to over 40 countries using digital technology. Crosspay paves the way for the cheapest way to send money to countries like India, Pakistan, Sri Lanka, Nepal, and the Philippines. Payments can be received as bank credits, mobile wallet money, or cash pick up in the receiving country.
According to reports, Indian Britons are one of the largest overseas communities of the Indian diaspora and make up 2.3 percent of the total UK population. These Indians living in the UK rely on Crosspay as their trusted and secure partner to send money to India.

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Registered Office at 69 King William Street, London, EC4N 7HR, United Kingdom. Company Registration Number: 11585641. Crosspay Ltd (a subsidiary of Crosspay Group) is authorised by the Financial Conduct Authority (FCA) for the provision of payment services. Firm Reference Number: 720157 and regulated by the HM Revenue & Customs
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