Common Financial Fraud Schemes

Financial fraud is nothing new, but as our technology changes, so do some of the methods thieves and scammers use to reach you. Here are three common scams used to steal your information and take your money through the Internet.

Phishing
The usernames, passwords and codes you use to access your various financial accounts are about the most important secrets you keep. Thieves will try anything to get this information out of you, including an email scheme called phishing. Phishing attempts appear to be electronic communications from your bank or other financial institution. They often tell you that there is a problem with your account or it in danger or that information must be confirmed in order to keep your account open. They tell you that you must log in to confirm your account. However, when you click the link contained in the e-mail, you will be redirected to a fake site that is set up to look like the legitimate website for your bank or financial institution. When you log in to this site, the thieves have obtained your user name and password and they can access your accounts. Always contact your bank directly, NOT using contact information in the email, and never, ever give out sensitive information like usernames and passwords via email.

419 fraud
Chances are, you’ve gotten at least one email from a foreign diplomat or other connected individual offering you a share of a multi-million dollar estate in exchange for helping to move money out of a foreign country. In the emails, you’re often asked to send a wire transfer by Moneygram or Western Union to cover taxes or fees that must be paid before the transfer takes place. In many countries, transfers like this are totally illegal. If you ever receive a request to wire money or send bank information with the promise of paying you back a greater amount, chalk these emails up to scammers and delete them immediately.

Claim your prize
When you win a prize, you are expected to pay taxes on it. Whether that prize is money, a new car or even free food. But you aren’t required to pay the prize-giver upfront before you receive the prize. While a big lottery win might result in some tax withholding, other prizes are taxed when you do your annual taxes. If someone tells you that you won a prize but have to pay to collect it, they’re likely trying to scam you.

There are hundreds of ways scammers try to get your money, and they come up with new methods every day. These are just three of the most common. To try and avoid becoming a victim, be aware of the following warning signs:

  • You receive an unsolicited email, letter, or phone call out of the blue promising you something exciting or valuable for a small upfront payment or fee.
  • The offer involves a transfer of money, especially by wire services such as Moneygram and Western Union.
  • The reward is much greater than the amount you must transfer.

If you ever suspect that you’ve been the victim of fraud or that you’ve been targeted, please contact your local law enforcement. For more information, please go to the Financial Crimes Enforcement Network website, www.stopfraud.gov. If you have been a victim of a scam or theft through email, you should contact the Internet Crime Complaint Center (IC3) at www.ic3.gov

Adrianna Rocha

Client Relations Specialist

240-379-6929 V
240-439-6889 VP
512-379-6909 FAX
info@kramerwealth.com

Since joining Kramer Wealth Managers in 2021, Adrianna Rocha has been a client service dynamo, ensuring every client interaction is seamless and delightful. She’s the go-to guru for all things client experience, handling everything from videophone chats to scheduling meetings and processing forms with a smile. Her goal? To make sure every client feels valued and well-cared-for.

Adrianna graduated with a Bachelor of Arts in Communication Studies from Gallaudet University in 2017 and brings nearly a decade of customer service experience to our team. She thrives on personal connections, celebrating both her achievements and those of our clients. When she’s not busy at work, you might find her indulging in her passions—dogs, houseplants, essential oils, and the tantalizing flavors of Mexican cuisine. Proud fur-mama to her adorable Aussie mix, Ziva. Adrianna brings a touch of warmth and enthusiasm to everything she does.

Q: What’s your favorite part of working with clients?

A:  I enjoy client service because it allows me to help people and make a positive impact. Using my listening skills to understand client needs and solve problems is satisfying. I love turning negative experiences positive and the daily variety of challenges.

Adrianna is not registered with Osaic Wealth.

Adrianna Rocha

Client Relations Specialist

240-379-6929 V
240-439-6889 VP
512-379-6909 FAX
info@kramerwealth.com

Adrianna Rocha joined Kramer Wealth Managers in 2021.

Adrianna is responsible for client experiences and service. As part of the customer service team, she strives to help and provide top-notch service to our clients. As part of her role, she communicates with clients through videophone, schedules client meetings, prepares and processes forms, and gathers information for our advisors.

Adrianna Rocha graduated with a Bachelor of Arts in Communication Studies from Gallaudet University in 2017. Before she joined our team, she worked in the customer service industry for nearly a decade. She excels in human-to-human relations and takes pride in not only her own accomplishments, but her clients’ as well. Adrianna enjoys chatting about her slight obsession with dogs, houseplants, essential oils, and food: especially Mexican food! She is also a proud fur-mama to her beautiful Aussie-mixed pup, Ziva.

Adrianna is not registered with Osaic Wealth.

Jack Morley

Client Relations Specialist

240-379-6929 V
240-439-6889 VP
240-379-6909 FAX
info@kramerwealth.com

Jack Morley has been a vital part of the Kramer Wealth Managers team since 2010, starting with various projects and officially joining full-time in 2013. As our go-to Account Service Specialist, Jack is the friendly face and reliable voice who ensures a smooth client experience. He’s the linchpin in client communications, handling account maintenance and bridging connections between clients and our advisory team.

A 1998 graduate of Gallaudet University with a BA in Psychology, Jack brings a wealth of customer service experience from retail and human services. His handyman skills are a bonus, making him the resident problem-solver and DIY enthusiast. Outside the office, Jack enjoys long walks with his dog Bailey.

Married for 25 years to his wonderful wife, Monica, Jack is also the devoted dad to two dynamic daughters who keep him on his toes. When he’s not walking Bailey—he’s likely tinkering on a new project or spending quality time with his family.

Q: What’s your favorite part of working with clients?

A:  I enjoy assisting clients in maintaining their accounts and ensuring there is a smooth transition in between changes being made within their accounts.

Jack is not registered with Osaic Wealth.