Olympics Allow For Rampant Scams

The Olympics provide for more scam artists to operate and steal money. Many scam artists use the games to steal personal information such as credit card numbers, bank account numbers and other identifying data. Fake lottery scams are popping back up because of the Olympics. Typically “winners” are notified that they have been selected for a lottery prize, as well as a trip to Brazil to see the Olympics. The victims are then asked to provide the details of their bank accounts in order to facilitate the transfer of funds. If a customer did not enter a lottery, they cannot win.

Another common scam is the Coke scam, wherein victims will get an email claiming they have won a cash prize of $1 million from the Coca-Cola foundation in partnership with the Olympic committee. To claim the prize, the victim must fill out personal information such as whether they prefer a bank transfer or to pick up their check in person in Nigeria.

Many fraudsters also peddle fraudulent merchandise with the Olympics logo on it. Tips are to only make purchases on the Olympics website and to always use a credit card. Beware of any solicitations that are emailed and be vigilant.

CNBC
FOX Business
The Wall Street Journal
Bloomberg
CBS
FOX News Channel
USA Today
abc NEWS
DATELINE
npr
Contact Information