April 1, 2012 |
Buying and selling on Internet classified sites such as Craigslist can be a great way to find a deal and make extra cash. But it can also expose you to a host of scams. Here are some tips to help keep you from being ripped off: •Meet the other party in person. By following this single rule, according to Craigslist, you will avoid 99% of attempted scams on the site. Any time the other party is unable or unwilling to meet face to face, it should be a huge red flag. •Never wire money to the other party.
June 22, 2011 |
Money-transfer company MoneyGram International Inc. had a near-death experience as one of the more unlikely victims of the mortgage meltdown. Pummeled by losses starting in 2007 on mortgage-related investments, it stayed afloat when private equity fund Thomas H. Lee Partners and Wall Street titan Goldman Sachs Group Inc. swooped in, provided an infusion of cash and took control in 2008. Shareholders in MoneyGram, based in Dallas, recently approved a deal that analysts say is a step toward the eventual exit of Lee Partners and Goldman.
November 19, 2010 |
It's called the "emergency scam" because its victims are typically asked to wire money to assist some friend or family member in trouble. This month, the Arcadia Police Department issued a warning that local seniors have been receiving calls from someone claiming to be a relative who needs bail money to get out of the slammer. The calls, needless to say, are bogus. But more often than not, the emergency scam is perpetrated online, usually after someone's e-mail or Facebook account has been hacked.
February 12, 2010
Jobless data better than expected The number of newly laid-off workers seeking unemployment benefits fell more than expected last week to the lowest total in a month. The Labor Department said that first-time claims for unemployment insurance dropped by 43,000 to a seasonally adjusted 440,000. Wall Street economists expected a smaller decline of 15,000, according to a survey by Thomson Reuters. The four-week average, which smooths out fluctuations, fell by 1,000 to 468,500, the first drop after three weeks of increases.
February 12, 2010 |
Western Union will pay $94 million to settle a long-running legal battle with the state of Arizona over whether the company allowed its money transfers to be used to send proceeds from human trafficking and drug smuggling to Mexico, officials announced Thursday. The settlement includes $50 million that will help law enforcement operations in border states fight money laundering. Western Union has also agreed to beef up its internal procedures to stop its wire transfers from being exploited.
June 8, 2009 |
The bleeding body of Mexican immigrant Javier Resendiz Martinez was the first thing police noticed when they raided the bungalow on North 63rd Avenue here four years ago after reports of gunshots. Soon afterward, however, they found payment logs of more than 100 wire transfers to Western Unions in the border town of Caborca, Mexico -- which state and federal officials cite as evidence that the financial services company and other money transmitters are used by Mexican crime syndicates to help facilitate the smuggling of people into the United States.