Korea Diamond Shield Management Press Release: Look After Your Future

Korea Diamond Shield Management Press
Release: Your Future Is Important

The Truth About Scams for Student Loan Forgiveness and
Why You Should Care

Are you a victim of scams for student loan forgiveness?

If you are one of the 43 million people with unpaid federal student loans,
you should be cautious and avoid these con artists. Continue reading to
find out more about them and how to avoid them.

On August 24, Biden announced that he would forgive the $20,000 student
loan debt for low to middle-income borrowers. Scammers took advantage
of the situation and bombarded consumers with emails, robocalls, and texts
promoting dubious methods for obtaining loan forgiveness or lowering
monthly payments quickly.

How Does the Administration Intend to Stop the Scammers?

Following Biden's announcement, few details about the application's
structure or timeline have been provided, encouraging scammers to prey
on people behind their mortgages, credit cards, and other debts.

Some fraudsters facade the roles of student loan servicers or US
Department of Education employees. They will ask for an initial fee or
personal information to ensure your freedom from student debt.

The government intends to strengthen cooperation with the Department of
Education and other government agencies while also attempting to
eliminate fraud.

The administration will also frequently share fraudulent complaints with the
states for state attorneys to take swifter action to stop scams for student
loan forgiveness in their territory.

Scams for Student Loan Forgiveness - How to Avoid?

Scams involving student loan cancellation have increased since the official
statement. It is helpful to be aware of some precautions to avoid these
scams. To prevent you from becoming a victim of student loan forgiveness
scams, here are some pointers:

Find Reputable Information Sources

Don't give out any personal information on any website without checking if
it's legit. Never divulge any personal account information to anyone on the
Student Aid website. The agencies such as Federal Student loan and the
Department of Education will not contact you via email or phone to obtain
that information.

To find reputable information sources, here's how to do it:

● Verify the website to make sure you are communicating with a
reliable source.

● Sign up for the newsletter to receive updates from the Department of
Education regarding student loan forgiveness.

● Speak with your loan servicer to learn more about applying for free
repayment and forgiveness programs.

Check the Company's Reputation.

Do your research before providing details or agreeing to terms with a debt
relief company. Check the Better Business Bureau for reviews and
complaints, and inquire about the company with your state's consumer
rights office.

Application is Free

Since forgiveness is free, there are no costs or upfront fees. It is a red flag
if a fraudster contacts you and demands the money upfront. If your loan
balance is higher than the amount announced by President Biden,
scammers may try to entice you by promising to forgive it.

Never pay an upfront fee if someone requests it. It costs nothing to apply
for Federal loan forgiveness programs. Therefore, you should be aware of
your surroundings if a charlatan offers to expedite your application in return
for a service charge.

Examine Your Emails

Be cautious of emails and phone calls purporting to be from or associated
with the Department of Education. Scammers use email logos to pretend to
be government officials or to have connections with them.

Here is how to identify suspicious emails:

● Before you click on anything in a phishing scam, consider whether
you have a record with the company. If you see phrases like 'Hi,
Customer,' this could be a scam email.

● Examine the URL associated with the email for subtle spelling errors
or odd formatting.

● If you can't find the company's contact information, that's a red flag.

Protect your Personal Information.

To protect yourself from scammers, avoid providing personal information
such as names, social security numbers, addresses, etc.

This scam originated with an email or text that appeared legitimate and
sent you links to click. When you click the link, it will phish your personal
information and steal it.

Hackers can access your financial accounts if you provide personal
information such as account numbers or credit card numbers.

Change Login Details

If you suspect that your ID has been compromised, log into your FSA
account, change it, and contact your loan company to ensure that no
unauthorized actions have been taken regarding your loans.

Take your Time.

Scammers will pressure you to act fastly to benefit from newly launched or
expiring forgiveness programs. Spend some time researching the programs
on your own.

Conclusion

The truth about scams for student loan forgiveness is accurate, and
scammers have duped many debtors thus far. If you are one of the
borrowers eligible for this student loan forgiveness, you should be
concerned and look for more information on reputable sites to avoid
becoming a victim.

Following the precautions listed above will keep you safe from these con
artists.

Scams with Cashier's Checks - How to
Avoid?

Cashier's checks are drawn from the institution's funds, guaranteed by the
cashier or teller, and signed. These checks are frequently regarded as a
secure method of making a sizable down payment on a purchase.

Many believe that cashier's bank-issued checks are risk-free. Sadly,
counterfeit check frauds, particularly those employing cashier's checks, are
on the rise, and scams with cashier's checks have become a prevalent
crime.

Even though cashier's checks are written and payable by a bank—they are
frequently considered more secure than electronic payments or personal
checks, they are not impervious to fraud. As a result of security features,

these checks were once challenging to forge; nevertheless, today,
practically everything can be faked.

More about investment risks.

How to spot scams with cashier's checks?

Almost always, cashier's checks fraud includes someone handing you a
check or money order that appears legitimate and demanding that you wire
them or send them things in exchange.

After depositing, cashing, and transferring funds, you discover the check
was a forgery

Mystery Shopping Scam

For making purchases and completing evaluation forms, mystery shoppers
are compensated.

Con artists use mystery shoppers to conduct fraudulent wire transfers or
bank dealings. In exchange, the shopper may give a check to deposit in his
account and wire money to a different party.

Craigslist Scam

Craigslist scams involve making an offer to buy the listed item or service in
exchange for a cashier's check payment.

As an alternative, the scammer may, to appear trustworthy, give a cashier's
check for more than the purchase price and request that the vendor returns
the difference through a wire transfer.

Work From Home Scam

Some con artists advertise work-from-home positions that pay you to
handle payments through your bank account or make unfulfilled paycheck
promises.

In these typical schemes, the scammer gives the remote employee a check
and instructs them to deposit it in their accounts and wire the remaining
funds to the con artist or a third party.

Lottery Winning and Unexpected Inheritance Scam

They notify the victims that they have won the lottery in a country they have
never been to or received an unexpected inheritance.

By using a fake bank or cashier's check, they can get you to hand over
personal information such as bank account numbers or to repay a small
percentage of the money you have ostensibly received.

Rental Properties Scam

Rental property scams prey on both tenants and landlords. For a rental
property they don't truly own or manage, scammers may advertise it and
accept a deposit.

Avoiding Scams with Cashier's Checks

A stranger will ask you to deposit a check in a fake check scam. It's usually
for more money than you owe them. Next, they recommend you return
some funds to them or another individual.

These scammers have a good reason for not keeping the entire amount of
money. They may claim they require your assistance to send a refund, pay
fees or taxes for a prize, buy items for a job, send supplies, or for some
other reason.

You can protect yourself by being informed of the most typical fraudulent
cashier's checks and money order frauds by using the following advice:

1. Be wary of offers from strangers; if they seem too good to be true,
they often are.

2. Refuse to accept foreign money orders.

3. Ask for a different, verifiable form of payment, such as a wire transfer,
an electronic funds transfer, or cash, if someone wants to pay with a
cashier's check or money order.

4. If they insist on a money order or cashier's check, go with them to the
bank.

5. Never take money orders or cashier's checks for more than the sale
price.

6. Be wary of "buyers" who offer to buy anything immediately but don't
seem interested in the product; they don't ask questions or want to
view it.

7. Never transfer cash or wire money to anyone in exchange for a
cashier's check or money order (mainly not to strangers).

8. Don't wire money or agree to pay a check for a stranger, do a fast
Google search with the firm name and the words "complaint,"
"reviews," or "scam."

Why Do These Con Games Succeed?

These frauds succeed because counterfeit checks resemble genuine
checks, even to bankers. They frequently have the names and locations of
reliable financial firms printed on them. They might even be checks drawn
on accounts belonging to people whose identities have been stolen. A bank
may take several weeks to realize that the check is fraudulent.

Avoid Falling Victim to Cashier's Check Fraud!

Your best line of protection is to exercise caution when taking a check
because you'll never know when you are scammed with cashier's checks.

It's better to wait until your bank verifies that the cashier's check or another
type of check has cleared before relying on the funds it contains unless you
know and trust the person you're working with.

Determining and unraveling forgeries can take weeks. The bottom line is
you are in charge of any money you withdraw against a check until the
bank certifies that the funds have been put into your account.