Types of Financial Frauds in Aruba: Watch Out for These Schemes

The sun-kissed island of Aruba is no stranger to financial frauds. With scammers getting creative with their schemes, it’s essential to stay informed and vigilant to protect your finances. In this article, we’ll explore the most common types of financial frauds in Aruba.

Advanced Fees/Prepayment Scams

Scammers posing as representatives from phony loan companies use authentic-looking documents, emails, and websites to appear legitimate. They charge “fees” in advance of making loans, but consumers pay and never receive the loans. The scammers often change their business names to avoid law enforcement.

Mystery Shopping Scams

In this scam, victims are hired for mystery shopping jobs, only to be told they need to wire money back to cover expenses. Once the money is sent, the employer disappears, leaving the victim with a worthless check.

Emergency/Grandparent Scams

Scammers target friends and family members of their victims, impersonating them and making up urgent situations, such as needing bail money or hospital treatment. The goal is to get financial assistance quickly, without hesitation.

Internet Purchase Scams

Criminals prey on victims who bid on items using online auction websites. They may tell the buyer to use a fictitious name for payment protection, then disappear with the funds.

Relationship Scams

Scammers build relationships with their victims through online dating sites or social media. Once trust is established, they ask for financial assistance under false pretenses, such as needing help with medical bills or travel expenses.

Fake Check Scams

Victims receive unsolicited checks or money orders and are told to deposit the funds and wire a portion back. However, the checks are counterfeit, leaving victims with significant losses.

Overpayment Scams

In this scheme, scammers offer products at inflated prices, then ask for payment. When the check clears, they claim it was an error and demand more money back.

Lottery/Prize Scams

Scammers contact victims claiming they’ve won a prize or lottery, but need to pay fees or taxes upfront. The goal is to get financial information from the victim.

Rental Property Scams

Criminals pose as property owners or renters, asking for deposits and application fees through wire transfers. Once the money is sent, the scammer disappears with the funds.

Employment Scams

Scammers claim they have job openings and ask for payment upfront, such as training costs or equipment expenses. The goal is to get financial information from the victim.

Protect Yourself

Aruban authorities are working hard to combat these schemes, but it’s essential for citizens to be vigilant and report any suspicious activity to the police.

• Stay informed about common scams in Aruba
• Be cautious of deals that seem too good to be true or require immediate payment
• Verify the identity of companies and individuals before sending money or sharing personal information
• Use reputable payment methods and keep records of transactions

By recognizing these common scams in Aruba, you can protect your finances and stay safe from financial frauds.