Cayman Islands being targeted by online scams
In the end of January 2008, the Royal Cayman Islands Police Service (RCIPS) Financial Crimes Unit (FCU) warned businesses in Cayman to be cautious because of credit card scams. The warning was caused by a report from a local company that received suspicious communication from overseas.
As to the process of the credit card fraud, businesses get contacted by overseas companies that intend to buy goods or services, and often the orders are higher than those usually dealt with and they could be seen as a great luck for the victim’s business. The businesses targeted by scams are often accommodation providers asked for bookings for businessmen visiting a conference or seminar. The bill is paid with a credit card, then booking and request that the refund be sent in cash via a money transfer agency are canceled by the fraudster.
According to the RCIPS, it can be difficult to identify fraudulent communication from genuine one, however there are some distinctive features of the requests to help determine if further investigation is necessary.
The RCIPS warned the public to be cautious when receiving a letter or e-mail from a person:
- who offers money for doing basically nothing, other than claiming a large amount of cash;
- who originates from a foreign country (especially Nigeria and other African country, as well as China, Russia, the Middle East and Europe);
- who says the sender wants you to act urgently;
- who involves money tied up in some bank account, will or hidden vault;
- who proposes to simply send you a cheque (which will turn out to be forged);
- who asks you to keep the whole matter confidential.
People receiving suspicious emails are asked to report such cases.