I remember the very first time I became a victim of credit card fraud. About a week later, I visited my local Starbucks. As soon as I was notified that my credit card had been declined (twice), I knew what had happened. I thought back to that day when I was alone with my kids, anxiously trying to locate a gas station in an unfamiliar and somewhat sketchy part of town. The notification light had been on for quite some time, and despite the fact that I was not comfortable refueling at an unmanned station, I didn’t have a choice.
Of course I knew about skimming (when a person steals credit card information via a small electronic device called a skimmer), but I always thought I would recognize such a device. And despite my suspicion to engage with the person who approached me at the gas station on that day, my genuine trust in people superseded any skepticism.
I am fortunate that my credit card company immediately recognized the suspicious charges and suspended any further transactions. I am also thankful that I was not responsible for those charges.
Every year, millions of people fall victim to scams. Some use sophisticated technology such as the device used on that day I was scammed at the gas station. Others use persuasion techniques and tricks or flat out lie to you about the situation. Some of the various types of scams include, but are definitely not limited to the following (via LifeLock):
- Phishing: An attempt to acquire personal information such as PINs, credit card/bank account numbers, Social Security numbers, usernames/passwords by masking as a legitimate business in an email.
- SMSishing: An attempt to acquire personal information via mobile text messages by impersonating a reputable contact and then sending you to an unsecured website.
- Vishing: An attempt to acquire personal information via landline or mobile phone.
- Online Shopping Websites: An attempt to acquire personal information by setting up a duplicate (but fraudulent) storefront. When the person shops and provides their personal information, it is then stolen.
So what can you do if you receive an unsolicited email offer or you suspect one of the above scams?
1. First and foremost…send the message to [email protected]
2. Do some research on the person/company you are doing business with. The internet can be resourceful for finding information about specific businesses including their reputation.
3. Exercise caution when wiring money. This type of transaction is difficult, if not impossible to reverse and trace. Avoid wiring money to strangers, sellers who insist on this type of transaction as a form of payment and anyone claiming to be a relative/family friend in an emergent situation.
4. Pay attention to your monthly statements. Unless you’re diligent, you could miss charges and/or monthly fees you didn’t authorize, indicating your account has been compromised.
5. Be cautious about giving money to charities after a disaster. Look for established charities, rather than new ones that were created immediately after the disaster. If you’re uncertain about the charity in question, visit ftc.gov/charityfraud.
6. Seek professional advice before investing in health products and treatments. Purchase prescription drugs from a licensed US pharmacy as opposed to an online website. When you attempt to save money or purchase a product that isn’t readily available without a prescription, you risk losing money on a product that is fake, expired, or mislabeled and these products could be dangerous to your health. For more information, visit OnGuardOnline.gov.
7. Understand the risks that accompany an investment. Be cautious about entering into a partnership where you are guaranteed large profits, promised little to no financial risk, or required to make an urgent decision (usually in the form of cash). If you suspect that an investment opportunity is a scam, report it to ftc.gov.
This month, I began a long-term partnership with LifeLock, a company committed to helping consumers protect their identity via a variety of tools and education. As a leader in this particular industry, LifeLock works with law enforcement and elected officials to understand the growing threats of identity theft. While browsing their website, I came across some interesting facts about my home state. California is ranked third in the nation when it comes to identity theft complaints, and the top three situations include government documents or benefits fraud, credit card fraud, and phone/utilities fraud. If I hadn’t already been a victim of identity theft, this information alone would compel me to act.
Identity theft is a growing problem in the US. I hope that through this partnership, I can arm you with the information you need to protect your identity. Here are some immediate resources to help you broach the topic of identity theft:
- U.S. Federal Trade Commission
- How to File a Complaint
- The Internet Crime Complaint Center
- OnGuardOnline (for scams)
I’d love to hear your thoughts or questions about this important topic.
Disclosure: This is a compensated post in partnership with LifeLock. Some information and stats provided by LifeLock. All opinions remain solely that of the author.
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