Fraud Prevention Archives

Fraud Prevention – How To Take Steps Toward Preventing Identity Fraud

How To Prevent Fraud, Fraud protection and Prevention Fraud Prevention 3 300x262 Fraud Prevention How To Take Steps Toward Preventing Identity FraudThere have been many stories in the media in the recent past talking about identity theft and how it can damage a person’s credit rating. The number of personal paper shredders sold has increased because of public awareness over how our personal information can be found by the thieves who intend to use it to illegally obtain credit cards or to make purchases by using our account numbers without our knowledge.

Fraud Prevention is something that we can all keep in the forefront of our minds and there are steps we can take to educate ourselves about how the criminals operate and then be wise about how we handle our own paperwork and other financial information.

The crime of identity theft is carried out in one of several ways. One very common method is when a criminal gets your social security number. This number can be the gateway to credit card and loan applications and it can permit the thief to begin a cascading array of financial thefts which can damage or even destroy the victim’s credit rating, sometimes before they are even aware it has taken place.  Fraud Prevention can be as simple as just being very careful about who you give your social security number to. Email and telephone “phishing” scams will often ask for the full social security number, but a legitimate credit card company or other financial institution with which you do business will rarely ask for the full number, often they only ask for just the last four digits. Be suspicious when calls or emails arrive and demand that number be entered on a web page. Sometimes, Fraud Prevention is just awareness and being alert to things that seem strange or out of the ordinary. Additionally, there are rarely times when you will need to have your social security card with you or in your wallet and it is best to keep it at home in a secured location. If your purse or wallet is stolen, you do not want the social security number to be included in what is taken.

Fraud Prevention is also about how other personal financial information is managed. More than just your social security number is at risk. Your ATM card is another easily stolen item and when you are using the card, be alert and aware of any people who may be around you. Protect and shield your PIN number, criminals are clever in the ways they may appear to be casually standing nearby, but their eyes are quick to catch your password code and money can disappear from your account in mere moments after your card has been stolen.

Having a personal paper shredder is a great way to destroy the many financial documents that every person has in their home. The pre-approved credit card applications that arrive in the mail, the checks that your credit card companies send you to be used for purchases, those are all items that should be shredded before being discarded to prevent them falling in to the wrong hands. Any financial documents, account statements and tax records that are no longer needed should also be shredded to prevent them being out in a place where they can be taken and used for criminal activity. Fraud Prevention can be as simple as just responsible disposal of your unwanted home office paperwork and it is very effective.

There are times that our carelessness can play in to the hands of the identity thieves and it is important that we keep this in mind to protect our financial information. When you get a new credit card or other bank card, be sure to sign it immediately in ink and put it in a safe place. When you leave your home, only carry the cards that you will need, if your wallet is stolen, you want to minimize the number of accounts that are affected. Simple steps like this can be your best Fraud Prevention measures.

Never leave your purse or wallet unattended, do not turn your back or lose sight of your card during financial transactions. Be aware that in places such as the grocery store, thieves have gotten more sophisticated and may be working in teams. If you leave your purse in the shopping cart and a stranger is suddenly asking you questions or distracting you, there may well be another accomplice who is deftly stealing your wallet from the purse you are not watching. Wearing your securely-closed purse on your body or better yet, a small body wallet that is hidden beneath your coat can permit you more peace of mind and security from the would-be identity thieves. Fraud Prevention is a state of mind that keeps you conscious of how you can minimize your risk in even the easiest ways.

Aside from your physical financial items such as account statement paperwork and credit cards, your passwords used online are an important part of Fraud Prevention. Making the passwords difficult to guess is of primary importance. The criminals who wish to hack your accounts are well aware of the common words people use as passwords. Never use words or numbers that can be guessed by someone trying to hack your accounts. Your phone number, your child’s name, anything that could be guessed should never be your password. The strongest Fraud Prevention passwords are mixes of letters and numbers that are without meaning and they can protect your accounts from the hackers who have identity theft as their goal.

Your mail is another vulnerable spot and there are Fraud Prevention steps you can take with your daily mail deliveries. Bring the mail in each day as soon as possible and if you are able to avoid leaving checks and payments in your mailbox to be picked up by the postal service, it is more secure to mail them in a mail drop rather than leave them in your outdoor mailbox. Your signed checks that have been written out to pay your bills can be easily altered by the thief who has stolen your outgoing mail.

The daily habits we develop to manage our personal information can go a long way toward preventing fraud and prevention is much easier and painless than trying to recover from the damage that identity theft can cause.

 

Fraud – When To Report

How To Prevent Fraud, Fraud protection and Prevention Fraud Protection 2 126x300 Fraud When To ReportThere are two types of thieves out there: those who steal stuff in person, and those who “hide” behind the cloak of the Internet, the telephone or the written letter to commit fraud. In a weird way, you could say that those who hide behind a website or a phone call may be more dangerous than those who steal in person. While it’s true that a person who robes a bank or a convenience store may be armed, once they commit a single crime they are typically either caught or they stop while they are ahead (there are so many times you can get away from crime scene). For those who choose to do fraud over the Internet or the phone, though, it can sometimes be much harder to catch them because not everyone out there knows fraud when they see it. Since people who commit online crime tend prey on people who aren’t savvy to the scams in the first place, it’s realistic to believe that the victim isn’t going to be able to recognize that a fraudulent act took place until it’s too late. This is why it’s so vital to report fraud the moment that you realize it is occurring.

When it comes down to it, we all have an idea of what fraud sounds like when it happens over the phone. Typically we think of someone calling an elderly man or woman and telling them that they have won a trip somewhere and all they need to do is put a small deposit down, or they won a prize and need to get their bank account number to send it to them. The reason why elderly men and women are typically targeted in these types of fraud is that they don’t just tend to be more trusting, but they sometimes don’t have enough quick savvy to pick up on fraud until it is too late. While phone fraud still occurs here and there, some criminals have turned to the Internet because it allows those who commit fraud even more of a “cloak” to hide behind.

The days are gone when the only Internet fraud you had to worry about was the “King of Nigeria” writing you to say you have won a cash prize and he needs your bank account. While some of that still exists (check your SPAM folder), most criminals have moved onto bigger and better online options such as legitimist looking online shops and “help” centers. Criminals have gotten really good at making their fraudulent ways look pretty darn realistic. This is why it’s important to always know where you are buying from and make sure that they are on the up and up.

So what happens when you have been taken advantage of online or through the telephone? The first thing that you should do is contact your local police. It’s always a good idea to report fraud to the proper authorities, whether it cost you $10 or $10,000. Even if they aren’t able to do anything right away to get your money back, they can use that info down the road to launch an investigation against the perpetrators and possibly get you the money that you are owed down the line.

Once you have let the local police know, you need to report fraud cases to companies, institutions and individuals who may be affected by said fraud. If fraud occurred directly on your credit card, or they got your credit card numbers, you need to make sure that you contact them ASAP. They may be able to track down any charges that were made, or at least stop any future charges from occurring. Simply canceling that credit card can help you immensely down the line. In addition, make sure that you contact any bank that you are currently doing business with so that they what happened, and so that they can look out for any charges down the line.

Depending on what kind of fraud occurred and what kind of laws were broken, there are some additional sources that you should contact immediately. It never hurts to contact the FBI regarding your experience, as the evidence that you have may be used to help track down the perpetrators on a Federal level. Many individuals who commit fraud on a national level may already have an open case with the FBI. No matter how good these individuals may think they are the FBI has a tendency to get their man more times than not when it comes to fraud. Other national organizations that you should consider contacting when you report fraud includes the National Consumers League’s Fraud Center, Internet Fraud Complaint Center, the Better Business Bureau, the Securities and Exchange Commission and even the Secret Service

In addition to these “official” avenues, you should also report fraud to non-traditional avenues as well. If you feel like you were taken advantage of in a way that people need to know about, contact your local newspaper or television stations to see if they can get the message out to the masses. In addition, post messages on websites that are dedicated to letting people know about fraudulent sites out there. You would be surprised to learn how many people check these sites before they do business with websites

A word of warning, though: fraud is a big charge to level against a company or an individual. There is a difference between not getting a package on time, or not getting the quality that you think you deserve, and an individual stealing money or information from you. If you have issues with a company not giving you what you ordered on time you can let people know about your experience, but don’t say that they committed fraud against you. People have a tendency to be a little loose with their terminology when it comes to online review sites, but don’t be one of those people who claim that everything that goes against you is fraud.   Reserve the “F” word only for situations where it should be used.

 

How to Prevent Fraud in Today’s World

How To Prevent Fraud, Fraud protection and Prevention Prevent Fraud How to Prevent Fraud in Todays WorldIt seems as if everywhere we look, there is someone who is going to try to take advantage of us. We work extremely hard for the money that we have only to discover that we are quickly learning what we need to do in order to know How to Prevent Fraud in the future. The first thing that you need to keep in mind is the fact that if a salesman tries to tell you that this is a one-time offer and it is going to go away quickly, you are better off to let the offer slide.

Do not ever worry about hurting someone’s feelings by not purchasing the item that they are trying to sell. There is a good chance they are simply trying to get your credit card number so that they can scan your credit card for multiple purchases. Talk to other salesman and the company as well. Find out whether or not they have the same standards as the salesman that you are currently dealing with. If you feel more comfortable with a different salesman, do not hesitate to ask if you can do business with them. It is better to hurt someone’s feelings than to end up in a scam.

If you are going away on vacation, make sure that you ask someone that you can trust to collect your mail. After all, if you leave your mail sitting in a box for a long period of time, this is not only going to let others know that you are out of town, but it will also give them the opportunity to take advantage of a credit card offer that you may have received. It is illegal to go through someone else’s mail. These people should be locked up for their bad behavior.

When learning How to prevent fraud, you are making an investment in your future. If you receive a credit card offer in the mail that you are not interested in applying for, make sure that you tear up the card as well as the application. If you have a paper shredder, this is going to be the easiest way for you to protect your privacy. The most important thing that you can remember is the fact that if you are not sure what to do with your old paperwork, go ahead and shred it. If you are not certain what to do, put it in a safe that is fireproof.
Never under any circumstances give out your Social Security number. Of course, you will be asked for your social security number when you apply for a job as well as other things. Your Social Security card should never be left in your wallet. It should always be left in a secure area where you will be able to access it if needed.

If you happen to get a phone call from someone claiming to be from your bank, do not give them any information. If they are persistent, you may consider asking them if you can call them back another time. If you are the one making the phone call, you will know exactly who you are calling. It is not common for your bank to call you and ask you for your Social Security number as well as other private information. Instead, they will most likely ask you to come in to the branch in order to discuss private matters. This is the best way to make sure that you know that your privacy is going to be protected.

If it were easy to know when someone were trying to pull a scam on you, people would not have to worry about fraud. However, it is important to remember that these people are very sneaky. In some cases, they will allow you to believe that they are going to give you a free credit report if you are willing to give them all of your private information. It is important to keep in mind the fact that you need to go with a reputable company when searching for a free credit report. In some cases you may have to pay for your report. However, it is better than paying thousands of dollars because you were taken advantage of.

It is very important for you to keep in mind the fact that you should never give out your credit card information. Even if they suggest that they are only going to bill you one dollar to your credit card. The only thing that they are looking for is your credit card number so that they can scan it at a later date for a great deal of money. In most cases, you will be able to tell whether or not the website you are visiting is safe because your computer will tell you. This is why it is very important to have high-quality antivirus protection.

It is important to keep in mind the fact that your password should be completely private. Do not share your information with anyone that you come in contact with.

Many people prefer to use a debit card because they have to enter a pin number in order to access the account. However, it is important to keep in mind the fact that in many cases, a bank is not going to refund all of the money that you have spent. A credit card company is generally better at making sure that you get all of your money back and that this does not happen again. It is very important to check your credit report on a regular basis so that you can stop fraud before it has the opportunity to develop.