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Money Tips

How can identity thieves use your personal information?

by Kylie Johnson
written by Kylie Johnson

If an identity thief gets ahold of your information, it can be used in many ways. Your Social Security number can be used to create new accounts, take out a loan or apply for a job. Your bank account can be drained and fraudulent purchases can be made. Someone can use your information to see a doctor or get prescription drugs. If you lose your driver’s license or your wallet is stolen, someone might use your ID to avoid a DUI or speeding ticket or might try to purchase controlled items.

  • If you’re a parent, teach your kids safe online practices, and limit what information you post about them on social media. If you get suspicious mail for your child, consider checking your child’s credit report, and report any fraudulent activity.
  • If you’re a veteran, take care to set up active-duty alerts and notify banks and agencies when you move to keep your information safe. It’s also important to read your financial statements often and routinely check your credit report. If you were recently deployed, you might not have noticed fraudulent activity.
  • If you’re a business owner, install encryption software on company computers and networks to prevent breaches. Only allow a few trustworthy employees to have access to sensitive information, such as Tax ID numbers. Monitor your company’s credit report the same way you would your own.

 

If you suspect you’ve already been targeted by an identity thief, you will need to learn how to check for identity theft and then report it.

Article shared by ConsumerAffairs.com

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Hands on the Money
Fraud & Security

How to Outsmart a Fraudster

by Carol Marak
written by Carol Marak

Frauds and scams have escalated. Here are a few tips I received from my bank that will help keep us aware of scams. The following note appeared in my email this morning and I hope you take precautions to remain safe.

“Carol, we’ve become aware of a widespread scam targeting bank customers nationwide, including ours. Please use caution when discussing your bank accounts over the phone as you could be chatting with a scammer, disguised as a Bank employee. Keep in mind, while we do make follow-up calls occasionally, we don’t call our customers out of the blue.”

Here are 4 ways you can outwit the scammer. (Edited by me.)

  • Call your bank and find out (in advance) what situations will THEY, the bank, call you. And ask what verifying question(s) they, the bank, asks when and if they do call. Then if and when you receive a call from someone identifying themselves as “your bank” DO NOT provide any additional account details.
  • Ask questions. Asking questions like “When’s the last time I called you?” may prompt the fraudster to hang up.
  • Deny requests for a one-time passcode.
  • Banks never call you and ask if they, the bank, can text you a one-time passcode to verify your account. These scammers will. Call your bank immediately if something feels suspicious.

How to Detect Fraud and Identity Theft

The sooner fraud is detected, the lower the financial impact. Often the victim is the first person to discover fraudulent activity. Follow these suggestions to recognize the warning signs of identity theft:

  • Monitor your accounts – Check your account activity frequently for anything unusual. View your online accounts to detect fraud earlier and contact your financial institution immediately if you see anything suspicious. Also, keep an eye on accounts that belong to your children, parents or other family members. If you suspect that any of your accounts with the financial institution to be compromised, please notify the bank immediately.
  • Use online alert tools and services – Whenever possible sign up for email or text alerts that notify you when certain events occur such as ordering checks or reissuing debit or credit cards. It’s also helpful to set up threshold alerts to notify you of low account balances or unusually high account transactions. Alerts like these can help signal fraudulent spending, so you can put a stop to it quickly.
  • Use a credit monitoring service – Consider signing up for a credit monitoring service that notifies you when changes are posted to your credit report. This is one of the fastest ways to find out if someone has opened new accounts in your name.
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Timeshare

6 Timeshare Questionable Practices Targeting Seniors

by Lisa Ann Schreier
written by Lisa Ann Schreier

While timeshares can be good for some people, sadly there are bad guys at every step of the way when it comes to timeshare matters. Unfortunately, seniors fall prey to these practices more often than other consumers. It’s imperative to keep your wits about you when dealing with timeshare matters.

Here are 6 ways that unscrupulous individuals take advantage of seniors:

Lying About How Your Heirs Will Be Stuck With The Timeshare Unless You Do Something

Unless your heirs are actually on the timeshare deed or whatever form of ownership you have, they are under no obligation to accept the timeshare when you die. It’s important to understand that your estate will be required to pay off any debt you still have on the timeshare however. Buying more timeshare or upgrading to some made up ownership level will only increase your debt, but will have zero impact on your heirs being stuck with your timeshare.

Keeping You At A Sales Pitch Longer Than The Required Length Of Time

When you accept the terms of whatever sales presentation you attend, there will be a stated minimum length of time you are required to stay in order to qualify for whatever you’re receiving. This time limit must be in writing. Find it and stick to it. You are under no obligation to stay for anything longer than that. I’ve heard countless stories of hapless seniors who were kept for 4, 5 or more hours, often without food or drink by sales personnel using one ruse or another. Don’t fall for this. Get up and leave at the appropriate time. Remember that you, not the salesperson is in control.

Lying About How You’ll Be Able To Pay Your Maintenance Fees If You Buy More Timeshare

Just not true, or at the very least, not the way they make it sound. Do not ever buy more timeshare for any other reason that you want more vacation time.

Claiming That They Have A Buyer For Your Timeshare And Need Money For Costs Which Will Be Refunded To You Upon Completion Of Sale

If you own a timeshare you may want to sell it. In any event, it’s imperative that you maintain control and do not ever engage with any company or person that initiates contact. 99% of timeshares are worth only a tiny fraction of what you originally paid, and there are millions of timeshares currency for sale on the secondary market. No one has a buyer for your timeshare that you haven’t even advertised yet. You should not ever pay in advance for selling your timeshare.

Lying About The Fact You Have To Attend An Update Or Survey

There are only a few cases where you are obligated to attend a sales presentation. One is if you accept those conditions in exchange for something that you’re receiving such as a discounted stay, theme park tickets, dinner show tickets, etc. Another case is where you previously purchased some sort of trial timeshare and each time you use part of it at a resort, they have another opportunity to sell you on the full program. That’s about it. There is no such thing as a mandatory owner update or customer survey.

Pretending To Be Your Friend

Sadly, I hear this one more than any other story. Remember that the sales person is just that, a sales person. They have no other reason to be nice to you or appear to have your best interests at heart other than to sell you something. However much they might remind you of your children or grandchildren, however many family photos they may show you or however many personal stories they may tell you, it’s all done with only one purpose-to sell you something. These people are very well trained in these tactics because they work so well. Don’t fall prey to them. You’re not being mean to them by not buying anything they’re selling.

Lisa Ann Schreier has been involved in the timeshare community since 1998. After cutting her teeth as a timeshare salesperson and manager at a number of Orlando area resorts, she grew increasingly frustrated with the antiquated marketing and high pressure sales techniques that were (and sadly still are) the norm in the industry.

Seeking to be a catalyst for positive change, she wrote ‘Surviving A Timeshare Presentation…Confessions From The Sales Table’ and ‘Timeshare Vacations For Dummies.’ She is a frequent contributor to major media outlets and a sought after speaker at consumer advocacy groups.

In addition to her articles at SeniorNews.com, she is on the Advisory Board of ConsumerAffairs.com where she ensures that content is unbiased, accurate and helpful for consumers as well serving as the lead timeshare advocate at Elliott.org and a featured blogger on RockStarFinance.com.

Her ‘tell it like it is’ blog (http://www.thetimesharecrusader.blogspot.com) covering timeshare issues is a source of solid information and continues to alert consumers to the myriad of less than reputable companies and practices.

Twitter users can follow her at @LisaLooksAt

Questions? Looking for assistance? Email Lisa at lisaschreier617@gmail.com

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Fraud & Security

Warning signs of identity theft

by Kylie Johnson
written by Kylie Johnson

Here’s what to look for if you think an identity thief has targeted you:

  1. A strange charge on your credit card bill
    When reviewing your bank account, do you ever notice a charge that you don’t remember making? Even a small discrepancy can indicate fraud. Sometimes criminals make a test charge just to be sure a transaction will go through before making a bigger move.
  2. Credit card bills stop coming in the mail
    If you didn’t opt-in to paperless billing but some of your mail isn’t showing up, now’s a good time to give that company a call. Identity thieves will file for a change of address to get their hands on your mail. Most of these documents contain sensitive personal information that can be stolen.
  3. Your credit score is going up
    Although this may seem counterintuitive, a rising credit score when you haven’t done anything to earn it can indicate a fraudster is trying to extend credit in your name before running through it.
  4. Your credit score is going down
    There are lots of reasons why your credit score could have gone down, like if you recently applied for a loan or had a bill go into collections. If your credit score has dropped and you can’t explain why, however, you could be a victim of identity theft.
  5. You get a tax transcript that you didn’t request or your electronic tax return is rejected
    Identity thieves will use your information to file a fraudulent tax return with hopes of claiming your refund. In most cases, you won’t find out until a second tax return is filed and rejected by either you or the thief using your identity.
  6. You’re unexpectedly denied for a credit card or loan
    If you thought you had good credit, but then your application for credit is denied, this might be a sign that an identity thief has tampered with your credit history and negatively affected your credit score.
  7. There’s a new account you didn’t open on your credit card
    Identity thieves will apply for credit cards and open new accounts using your name once they have access to your personal information. Most of the time, they’ll try to max out the credit card before the victim notices and the account is closed.
  8. Inaccurate medical records
    It’s possible for someone to steal your identity and use your health benefits without you knowing until you get a bill in the mail or are unexpectedly denied coverage because an identity thief has already maxed out your limit of benefits.
  9. Debt collectors call about accounts you never opened
    If you receive collection calls about debts that you don’t recognize, this is a sign of identity theft. Identity thieves will often use your credit to purchase things, then leave you with the bill.

How to check if your identity has been stolen

  1. Check your credit card statements and bank account
    If you notice any suspicious activity, alert your bank or credit union right away. It’s important to check your statements thoroughly and often.
  2. Run a credit report
    U.S. citizens are entitled to a free one every 12 months. If you don’t want to monitor your credit this yourself, consider enrolling in a credit monitoring service.
  3. Monitor your finances closely
    Keeping a close eye on your finances can help you catch warning signs of identity theft early, which can save you a lot of time, money and stress. Monitoring is just one of the ways to prevent identity theft.

What should you do if your identity is stolen?

If you think your identity has been stolen, you’ll need to take the appropriate steps to report the identity theft and begin the recovery process. Start by calling your credit card companies and bank right away to freeze the accounts and dispute the charges. You may also want to open new, secure credit cards and bank accounts to eliminate the possibility of more unauthorized charges.

Shared by ConsumerAffairs.com

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Friendly Scammers Preying on Seniors
Fraud & Security

Friendly Scammers Preying on Seniors

by Rod Spurgeon
written by Rod Spurgeon

With friends like these, who needs enemies?

Most people wouldn’t want to become friends with someone who is trying to rip them off. Yet, every day, people hand over their hard-earned money to strangers who’ve become good friends – within the timespan of a single telephone call. How is this possible? Friendly Scammers Preying on Seniors
Some criminals use aggressive, threatening tactics to steal money from victims over the phone. It’s easy to identify these scoundrels as enemies, people who want to cause financial harm to other people. But what about someone who calls pretending to be a friend? Friendly Scammers Preying on Seniors
Friendly scammers are more diabolical than aggressive ones. Hothead bullies usually take what they can and move on to other targets. “Friendly” scammers want to make long-term relationships with potential targets, stealing money over and over again from the same source. Friendly Scammers Preying on Seniors
To misquote a famous movie, “These are not the friends you’re looking for.”
Scammers know the value of friendship. People generally trust friends more than strangers and are more willing to take actions suggested by friends. Scammers want to be your friend because they know they’ll have a greater chance at convincing you to give them your money if they’re successful.
These frenemies will tell you that the money you send them will help you get what you want. Whether the promised benefit will help you, family members, or a charity, they’ll latch on to any reason why you might need the benefit they’re offering and exploit that reason to the fullest extent possible.
A scammer will never be your friend, no matter what that person might tell you.
Frenemy scammers typically use the promise of a prize to lure money out of a target. Any person who calls with the promise of incredible lottery winnings, amazing raffle prizes, or free trips, and asks for money to receive that prize, is a scammer. You didn’t win a thing, but you can lose everything if you believe the scammer.
A person who sends money to these friends to receive something of substantial value will never receive that value. The “winner” will receive additional requests for cash for as long as he or she can send more money. Even when a victim runs out of money, the helpful friend requesting money will convince a person to take out loans on personal property or sell assets such as vehicles and coin collections to send in more cash.
NEVER send cash, money orders, checks, cash cards, or wire transfers to anyone to receive a prize. Ever.
A friendly scammer doesn’t care if you’re rich, poor, or somewhere in between. He doesn’t care if you need the money you have to pay for critical medical expenses or essential living costs. The friendly scammer on the other end of the telephone, a person you’ve never met, will take every dollar he can get from you, even if puts your life in jeopardy.
Always hang up on a stranger who offers an incredible windfall, pretends to be a helpful friend, and asks for money in return. This person is a scammer who wants to steal your cash, and he isn’t the kind of friend you want or need to have in your life.
Friendly Scammers Preying on Seniors Friendly Scammers Preying on Seniors Friendly Scammers Preying on Seniors

Friendly Scammers Preying on Seniors

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Smart Ride: Go Anywhere with a Phone Call
Fraud & Security

New Scam: Can you Hear Me?

by Rod Spurgeon
written by Rod Spurgeon

In the latest ploy by scammers to steal your hard-earned cash, criminals use the lure of a free vacation to convince targets to hand over their credit card information. What these thieves also obtain is involuntary permission to charge expensive trip features on these credit cards by convincing people to answer “yes” to the question, “Can you hear me okay?” New Scam: Can you Hear Me?
In this scam, a robocall (automated dialing system that plays a pre-recorded message) calls a target to pitch the free vacation. Here’s how an actual call begins: New Scam: Can you Hear Me?
“Hello, this is Josh from customer service. Can you hear me okay?” New Scam: Can you Hear Me?
Pause for several seconds. New Scam: Can you Hear Me?
“Great. You have been preselected for an all-expenses paid vacation which includes tickets and…”
The robocall doesn’t sound automated at this point. It attempts to simulate a live person to get the target to respond to the question, “Can you hear me okay?” A person who hears this and doesn’t know the call is from a robocaller will usually respond by saying “yes” in response to the question. If the target responds to the question with a “yes,” the scammer has what he needs to authorize charges on a credit card the scammer hopes to obtain later in the call.
This call continued with the free trip offer and outlined the many benefits of this windfall. To secure the trip and pay for any incidentals that aren’t included in the free package, all a person has to do is offer a credit card number over the phone. The scammer promises that no charges will be applied to the card unless the person makes additional purchases on the trip. That promise couldn’t be further away from the truth.
If a person provides a credit card number to this scammer, the criminal will make expensive charges on the card associated with the “free” trip. When the victim receives a credit card statement that outlines these expenses charges he didn’t agree to, the person will naturally phone the “company” to complain. The scammer who responds will aggressively tell the target that he agreed to the charges during the call, and that they have his “yes” confirmation to approve the charges.
The “yes” confirmation of course came at the beginning of the call in response to the “Can you hear me okay?” question. That’s how devious these criminals can be in their efforts to steal your money.
You have to arm yourself with the knowledge to protect yourself from these deceitful criminals to avoid becoming a victim. Here’s how you can prevent this deceptive crook from stealing your cash: Can you Hear Me Scam

  • Never answer a phone call unless you know the identity of the caller. This will prevent most telephone scams from connecting with you.
  • If you answer the phone and the person doesn’t say the name of the company he or she is connected with, the person is probably a scammer. In the robocall above, Josh stated he is from “customer service.” What company is that? Customer service is usually the name of a department within a company, not the name of the company itself. Hang up the phone.
  • A business will never call random people with whom they have no established relationship to offer free vacation packages. If a person calls to offer anything for free, hang up immediately, especially if the caller doesn’t know your name. The person is using the pretense of offering something for free to try to take your money.

Nobody can stop these criminals from reaching out to you. Nobody is going to tell you when you’re under attack by one of these criminals. Nobody is going to stop you from giving the criminal what he or she wants. Only you can defend yourself when you come under fire by a criminal. Can you Hear Me Scam on Seniors
Always remain skeptical of anything that seems too good to be true and do your best to update your knowledge frequently with the latest tricks scammers might use to steal from you. Own your defense to stay safe from criminals.
For other tips on avoiding scams click here. New Scam: Can you Hear Me?

New Scam: Can you Hear Me?

New Scam: Can you Hear Me? New Scam: Can you Hear Me? New Scam: Can you Hear Me? New Scam: Can you Hear Me?
New Scam: Can you Hear Me?
 

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Fraud & Security

Top Senior Scams of 2015

by Kimberly Johnson
written by Kimberly Johnson

Top Senior Scams of 2015

People often ask me which scams are the worst. That’s easy – the ones that never go away. Top Senior Scams of 2015
scamEvery week we hear from you about the IRS scam. It occupies the No. 1 spot in my book. Crooks who leave cryptic messages telling you that you owe money to Uncle Sam are the worst. They threaten you with going to court, being thrown in jail, or losing your house for not paying income taxes. It’s a fraud. If agents believe you owe money, you’ll first get a notice in the U.S. Mail asking you to call them. The IRS will never leave messages demanding that you pay up or else. So far, the Treasury Inspector General for Tax Administration says victims have lost more than $15 million since this scam surfaced two years ago.
The scheme that takes the No. 2 spot is the grandparent scam. This one preys upon the good intentions of grandparents who are told their grandchildren are in trouble. Two people perpetrate this fraud by phone, one playing the part of the sad and injured grandchild, and the other pretending to be a law enforcement figure who relays how the cash should be sent. Grandparents are told the grandchild’s phone is dead and are asked not to contact any other family member. They aren’t given time to think about the demands, simply to send the cash by wiring money or buying a reloadable debit card and passing on the card information to crooks. I’ve talked to locals who have lost as much as $50,000 to these bad guys. The best advice is to contact the grandchild directly or ask the alleged grandchild on the phone a question that only family knows. That usually stumps them and gets them to go away.
The Publishers Clearing House Giveaway scam is No. 3 on the “worst scams” list. I’ve talked to people who have lost upwards of $40,000 to this con U.S. Postal Inspectors say is a favorite among crooks in Jamaica. They reportedly go online collecting information about their victims, searching for those who have recently lost a loved one. The congratulatory calls are designed to slowly wear down people’s resistance, earning their trust and their savings. Just remember, PCH never calls winners and asks them to pay upfront taxes or fees before collecting their prize. The real Prize Patrol always shows up unannounced at your doorstep.
Impostors who fool folks with tech support scams come in at fourth place. They either call and say they’re with Microsoft and have detected a virus on your computer or they wait for you to open an attachment or click on a phony pop up. Your computer screen turns blue and you panic, calling the number that is displayed on your monitor. If a stranger claims your computer system is infected, hang up or you could lose $300 or more.
My goal in 2016 is to keep spreading the word about these malicious scams. Screen your calls and don’t answer suspicious calls, even if it appears that your own number is calling you.
It’s a con artist spoofing your number, trying to get you to pick up. Question suspicious calls, emails, and notices in the mail. We’re here to help and want you to hang on to your hard-earned cash, not lose it to fraudsters.
Article by Betty Sexton at bsexton@kktv.com

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