Don't fall victim to scams...

Fraud is everywhere, but you can protect yourself. Financial fraud isn't new. Tricksters always have used ingenious schemes to cheat others out of their hard-earned money.

What's new is that today's technology - which makes it so easy for us to manage and access our money - lets criminals reach into our wallets more easily as well. They can reach us online from around the globe by creating realistic Web sites or counterfeit credit cards to fool us.

Crooks use a variety of methods to get the information they need. Some are elaborate ruses to get you to share confidential information, while others are crimes of opportunity.

Some of the low-tech ways thieves get hold of your confidential data include:

  • finding or stealing credit cards, checkbooks, and wallets
  • stealing your mail
  • "Dumpster diving" in trash bins for unshredded documents
  • "Shoulder surfing" as you punch in your PIN while using an ATM

 

How to protect yourself

Here are some simple precautions you can take to protect yourself from becoming a victim of identity theft or fraud:

  • Only give your Social Security number (SSN) when it's necessary and don't carry your Social Security card in your wallet unless you need it that day.
  • Cross-cut shred personal information you want to discard to stop dumpster divers from finding your personal information.
  • Never respond to unsolicited requests for personal financial information received via text message, e-mail, phone or any other way – even if the request appears to come from a legitimate institution that you do business with. This includes request to “confirm, verify or update” your information.
     
  • Always know who you're dealing with. Don't click on links in e-mails, text messages, or call numbers listed in text messages. Verify  contact information independently, and key in web addresses yourself.
  • Never give out personal information to an unsolicited caller, no matter what the Caller ID display says. This information can be easily faked using Internet telephone services. Contact your card's issuer directly, using the phone number printed on the back of the card itself.
     
  • Put passwords on all your financial accounts. 
  • The best defence against skimming is to pay attention. Before you swipe your card through any device, if something doesn't look right or there appears to be an extra device attached to the machine, do not use it.
  • Keep your debit card within sight at all times. Restaurants are an especially easy venue for skimming, as your card is often in the hands of a waitperson and out of your sight for several minutes.
  • Check your credit card and checking account statements closely, and immediately report any suspicious charges to your financial institution. Read your monthly statements, but also consider checking your accounts online between statements.

  • Monitor your credit report regularly for signs of irregularities. You are entitled one free credit report from each of the three major credit report.  Visit www.annualcreditreport.com, call (877) 322-8228, or write to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

 

 

 

 

Recovering from ID theft

If you've become a victim of identity theft:

  • Contact all creditors, utilities, and financial institutions about fraudulent accounts. Close affected accounts and open new ones using new passwords and PINs.
  • File a police report and get a copy of it.
  • File a complaint with the FTC at the Identity Theft Hotline, toll-free at 877-IDTHEFT (877-438-4338). Also call the hotline or visit www.consumer.gov/idtheft to obtain an ID Theft Affidavit. This allows you to report ID theft to several companies simultaneously.
  • If it appears that someone's been using your SSN, contact the Social Security Administration to verify the accuracy of your reported earnings and your name; 800-772-1213.