Fraud Prevention

Fraud Prevention

 Joyalukkas Exchange is committed to use all our support to fight fraud and prevent criminals from defrauding our customers.

How to Report a Fraud

 We urge you to report fraudulent activities, not only to protect yourselves, but to protect others as well.

To report any fraudulent activities please contact:

Common Typologies of the Consumer Frauds are 

Some of the most common consumer frauds are as below:

Fake Prize and Lottery Scams 

You get a call, email, or letter saying you won a lottery, or prize — like an iPad, a new car, or something else. But you can tell it’s a scam because of what they do next: they ask you to pay money or give them your account information to get the prize. If you pay, you’ll lose your money and find out there is no prize.

Advance Fee Payment Scams

An advance-fee scam is a form of fraud and is one of the most common types of confidence tricks. The scam typically involves promising the victim a significant share of a large sum of money, in return for a small up-front payment, which the fraudster claims will be used to obtain the large sum.

Emergency Scams

Emergency scams usually target parents, grandparents or other family members. Someone calls or sends a message claiming to be a child or grandchild in trouble or the friend of a family member who is in trouble and urges the victim to wire money immediately to help with an emergency.

Phone Frauds

Phone fraud is the intention of illegally acquiring money from customers. In this fraud Customers may receive calls from people who impersonate as staff of the company, police, and government department or telecom providers etc. They want your personal details to commit fraud.

Charity Scams 

Charity scammers use deception to steal money from people who believe they are donating to legitimate causes. They siphon money away from those in need and use it to line their own pockets. 

Ponzi Schemes 

A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.

Protect yourself from the fraud
  • When you receive a phone call or message asking for Your Payroll card number, Bank details, CVV etc., OTP messages.
    • Think Why would caller need your personal, bank, card details, OTP etc. 
    • Think Joyalukkas Exchange will not ask customer card number, OTP, PIN etc. 
    • Do Not Share your Login credentials, bank card details, OTP’s. 
    • Do Report, Immediately, if you suspect that your personal details have been compromised.
  • Double checking that the family member needs help before sending cash can prevent the fraud from occurring.
  • Consider changing the privacy settings on your social media accounts.
  • Beware of users posing as government officials. Legitimate representatives of the state (whether local police or federal employees) should never ask for sensitive information over social media direct messaging. Anyone posing as government agent who asks for payment, credit card numbers, Social Security numbers, or bank account details via DMs is not just trying to scam you.
  • Do not download any third party “remote –desktop” applications on your computer.
  • All ways check all the characters in the email address.
  • Have an updated Anti- Virus software on your computers.
  • Do not click on links received from unknown senders.

Red Flags to the Consumer Fraud Typology

  • Sounds too good to be true 
  • Pressures you to act "right away"
  • Guarantees success 
  • Promises unusually high returns 
  • Requires an upfront investment - even for a "free" prize