WA4

The top five email scams

The chances are that if you have an active email account, at some point you will have received at least one of the fraudulent emails recently listed on finance website The Motley Fool (www.fool.co.uk/index.htm).

They have published what they see as the current Top 5 email scams. Make sure you don’t get caught by them!

1. '419'

The most well-known of all the email scams, it usually purports to be from a relative of a deceased Nigerian dictator who needs your help in smuggling the family's millions out of the country. Just put down an initial sum, or hand over your account details, and 'millions will be yours'.

2. 'Phishing'

An email claiming to be from your bank asks you to confirm your bank and password details as part of an alleged security update. You innocently key in your personal details and the fraudsters have access to your funds.

3. Lottery scam

The email informs you that you have won a foreign Lottery via the random selection of your email address. In order to claim your prize you'll have to pay some money up front to cover supposed handling charges.

4. 'Hot Penny Shares'

Company XYZ - a small but real company - is 'about to announce a major breakthrough' and apparently the share price will soar. Buy now and you'll make fortune. The Motley Fool claims that "these emails will be from someone who already has shares in the company and is hoping that enough gullible people will rush to buy some themselves pushing the share price will go up. They'll cash in before you realise the company's a dud."

5. Cheap Software

A fake online store is selling expensive software at bargain prices. But the store doesn't exist and the website is just a means of getting hold of your personal bank or credit card details.

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