How To Protect Yourself From Fraud

Fraud is a huge problem in the digital age. Today scammers are constantly developing new ways to deceive people to gain access to, and steal money. Everyone needs to be aware of some of the more common methods used by these criminals and take steps to protect themselves.

Unknown Numbers

Scammers rarely leave a message, and so if you see a call by an unknown number and there is no message, it is most likely an advertiser (spammer) or scammer. Never call the number back to see who called. This can get you flagged as a live customer, and the volume of calls will surely increase.

Today’s spammers and scammers have gotten quite sophisticated. They use software to make the incoming call appear as if coming from a number in your area. These types of calls are called spoofing. A spoofing attack but can be blocked with blocking software.

Password Hacks

Make sure you use secure passwords. Passwords should include combinations of upper- and lower-case alpha characters, numbers, and special characters. Change them regularly or if you suspect you have been the victim of identity theft. Many websites offer two-factor authentification, it can seem a hassle, but they do protect you.

Fraud by Gift Cards

If you are dealing with a legitimate business, they won’t ask you to send them gift cards. This is a common method of fraud that scammers do and can’t be traced. Never send gift cards to retailers for payment.

Mail Fraud

Your mail is a goldmine to those looking to commit fraud. They can steal bank account information, medical information, employment, and tax information. If your area is prone to theft, consider installing a locking box where the carrier puts the mail in the box, but only you can unlock it to retrieve the mail. Watch for those who drive up and down your street and slow at mailboxes. Report any suspicious activity. Go to the post office or use a blue box to mail your outgoing letters. Sometimes criminals will steal your outgoing mail, and that may include checks. Shred your mail before tossing it in the trash.

Limit What you Carry

When you go out, only take the items you need, such as your ID and the credit or debit card that you plan to use. Keep medical and social security cards at home. It’s also a good idea to copy the front and back of your items. If your credit cards are stolen, you will readily have the account numbers and customer service numbers to call and make a report.

Don’t Share Personal Information on Social Media

Scammers can put together quite a bit from your personal profile. They’ll know where you grew up, the schools you attended, and quite possibly your mother’s maiden name. Think about everything you post before posting or restrict access to only a few close contacts.

Review Your Credit Report

Due to the increase in identity theft, the government has allowed everyone to check credit reports once a year for free at the three major credit reporting agencies, Experian, Equifax, and Transunion.  Some companies and lending institutions use one company, while others use another. One strategy used by many to keep a continuous eye on your credit is to use a calendar and schedule a rotating check on one agency every four months. This way, you will receive a free credit report three times a year – through each company will be tapped only once. The three reporting agencies can vary slightly. If you are a victim of fraud, you will know and can begin the process to dispute the items on the report.

 Thieves are out to commit fraud any way they can. They are unscrupulous and tech-savvy. This requires consumers to be wary of the information they share and with who it is shared. Ask questions, protect your documents and act immediately if you have become a victim of any fraud.