Fraudsters are targeting online investment products with sophisticated scams.
They are using sophisticated techniques to gain access to information.
Here’s what you need to know.
Fraudsters can use ‘sneaky’ tactics Read moreRead moreA sophisticated scammer is using ‘snesy’ tactics to gain control of an account or website, using the site’s database to track the user’s transactions and identity, according to research from Gemstone, a leading online financial management company.
In the most recent incident, an online user who used the username “Snesy” to access the “Gemstone Investment Management” forum, had been tricked into spending $100 on a “Bounty Fund” to help pay off a debt, the company said.
The scammer used a fake email address, pretending to be a Gemstone employee, and was using a proxy to gain full control of the forum, Gemstone said.
“He was able to create a virtual account on Gemstone that allowed him to create new accounts without any real access to the site,” Gemstone added.
“The fraudster was able use the domain name ‘Gemstonesinvestmentmanagement.com’ to create and manage multiple accounts on the site, all at the same time, without any user-generated passwords or other information to help protect the site.”
A Gemstone spokesperson said: “A fraudster can create a fake account on any website, and if they are able to gain an account, they can use that account to gain unauthorized access to an account.”
They can use this technique to gain the user account’s access to financial management tools or other sensitive data, and then they can manipulate or steal that data to trick other people into clicking on fraudulent links or paying fraudulent fees.
“Gemestone said the scammer was not affiliated with the company and could not be identified.
Gemite said it had identified several cases of fraudsters using this technique and had blocked the offending site.”
Gemmiesinvestmentmanager.com is no longer actively being used by fraudsters.
Gemmies has also blocked the account that was used to access our site and it is no more used by the same person,” the spokesperson said.
Gems, a global leader in financial management solutions, said it was working with the fraudster to identify and remove the scam.
The Gemstone CEO, Chris Stoll, said: “[It] shows how easy it is to fool someone into clicking onto an advertisement, when you have a product that’s really good.
It is a very real threat.””
We will continue to work closely with Gemstone to address the growing issue of online fraud.”‘
Scams are getting smarter and smarter’A fraud has recently been discovered in which an email address was sent to an unsuspecting investor in a stockbroker, who paid the fraudsters $1,200.
The scammer then used the stolen information to make a $200 deposit to a company controlled by a convicted fraudster, according the New York Post.
This scam, which was discovered last week, was being used on the website Gemstonesinvestmentsmanager.net, which has more than 40,000 members, according Gemstone.
The site is popular for its user-friendly online investment services, but the scam was being actively used by criminals, according Steven LeBretton, Gemstones’ chief financial officer.”
These are scammer tactics and it’s not surprising that people are looking for ways to get into a product like this,” he said.
LeBrettor said he believed the fraud had been used in the past, but believed the method was now “a lot more sophisticated”.”
It’s going to be interesting to see how long the site survives.”