Learning from the Olympic ticket scam.
by Neil Jenman

As far as scams are concerned the Olympic ticket fraud is one of the best. So good, in fact, that it has reportedly fleeced more than $50 million from thousands of victims around the world. Ouch.

Although my expertise is with property and finance scams, a scam is still a scam. Whether it’s conning people for over-priced property or fleecing them for non-existent Olympic games tickets, most cons share a number of characteristics.

When you learn the characteristics of a con, you’ll be better able to spot a scam no matter what it involves. Take the fake Olympic Games ticketing web site. While it was very good (meaning that it looked very legitimate), there were certain tell-tale signs that an experienced scam spotter may have recognised.

Here, then, are some of the ways that you can spot scams and some tips on how you can protect yourself from being ripped-off.

First, and this may seem harsh: Always assume, privately, that anyone who wants your money wants to cheat you. This is especially true when dealing with ‘new’ people, those you have never dealt with before. Start with the assumption that you are being conned and it will be a lot harder for con artists to con you. ……More

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