t seems that criminals have a virtually limitless capacity for devising ways to separate you from your money. Today’s technology can make that goal even easier. But an educated financial consumer has a head start on protection. Here are some new scams becoming prevalent in the financial world…with ways you can defend yourself and your identity from theft and abuse.

Advance Fee Loan Scams

Around for decades, this scam has taken on new life due to the ability to create convincing web sites. Advance fee loan scams draw unwitting victims through the Internet, using legitimate looking Web sites, complete with privacy policies, customer service numbers and online loan applications.

In a typical scam, prospective “clients” complete an online form and soon receive a response telling them the loan has been approved. However, they are told they must first wire a deposit or fee to obtain the loan. Victims send the money, sometimes thousands of dollars, but the loan never materializes. In addition, the scam artist has obtained the victims’ social security number and other account information, leaving them vulnerable to identity theft.