12 Tips to Avoid Fraud – ‘Tis the Season to Be Cautious
Hello friends and Welcome to Money Monday
Remember last month when I told you that hubby couldn’t buy me a gift for my birthday? Well after checking his bank statement a few days earlier, he realized that there had been some fraudulent charges made against his account. Luckily, they weren’t excessive, but after contacting the bank his debit card was immediately suspended, oh by the way, there’s a charge for a replacement, which I think is unfair but that’s another story for another Money Monday.
Anywho, I’m glad that he had finally heeded my warning in making sure to check his statements as well as any credit card or medical bills that were received in the mail. There are so many ways for scammers to get you and it doesn’t just happen during the busy holiday season.
Scammers and fraudsters are ever vigilant, therefore, as wise consumers we must be the same, so here is a list of 12 tips to help you avoid fraud and keep the scammers at bay!
- Install a lockable mailbox to reduce mail theft.
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Limit the number of credit cards you have.
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Reconcile your check and credit card statements as soon as possible, and immediately challenge any purchases that you did not make.
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Scrutinize your utility and subscription bills to make sure the charges are yours.
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Keep a list of all your credit and bank accounts in a secure place so you can quickly call the issuers to inform them about missing or stolen cards. Or make a copy front and back of your cards with the numbers to customer service and fraud departments.
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Do not toss pre-approved credit offers in your trash or recycling bin without first tearing them into small pieces or shredding them. Dumpster divers can use these offers to order credit cards in your name and mail them to their address. Always do the same with other sensitive information, such as credit card receipts and phone bills.
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Avoid credit repair scams. If you are tempted to contact a credit repair company for help, use considerable caution. The FTC and a number of state attorney generals have sued credit repair companies for false promises to remove bad information from credit reports. Only inaccurate information may be removed from your credit report; negative information that is accurate (such as a bankruptcy filing or a defaulted loan) will stay on your credit report as long as governing laws allow.
- Never give any credit card, bank or Social Security information to anyone by telephone unless you can positively verify that the call is legitimate.
- Minimize exposure of your Social Security and credit card numbers. If the numbers are requested for check-cashing purposes, ask if the business has alternative options, such as a check-cashing card.
- Do not have your bank send your new checks to your home address. Tell the bank that you prefer to pick them up.
- Destroy all checks immediately after you close a checking account. Destroy or keep in a secure place any courtesy checks that your bank or credit card company sends to you.
- Do not allow your financial institution to print your Social Security Number on your personal checks. I remember when your social security numbers were not only printed on your checks but also on your driver’s license as well. Times sure have changed!
Have you ever been a victim of a scammer, whether online, via the telephone or mail, if so, then you know how difficult, time consuming and sometime costly it can be to get things back on track.
Check www.aarp.org/fraudwatchnetwork if you are concerned about an organization that doesn’t sound legitimate and call 877-908-3360 which is the AARP Foundation Fraud Fighter Center.
Better Safe than Sorry!
Stay Blessed ~ No Stress in 2014!
Yeah, I’ve got a dispute going with an online company now – grrrrr!
oh no…hope it works in your favor with minimal frustration!
Thanks for these timely reminders. It was great to meet you at the conference Saturday. I love your passion and it shows in these posts. Have a great week.
these are really helpful heads-up’s. for all year around but especially now. I’m going to pass them on to my grown children.
Thank you, the more we know the better off we all are – enjoy the rest of the week!
Unfortunately I have been a victim also. It is very aggravating. However, I was not aware that a fee was applied for a replacement card. My bank (credit union) does not charge a fee for replacement cards. In addition to making copies of your card may I suggest that you have a listing of accounts that you may charge automatically to your account on a monthly basis; i.e., subscriptions, charitable donations. If your card is compromised you can contact the companies and let them know before the transaction goes through. It saves frustration on both parties.
Yes, those are some great suggestions, thank you for adding them. It makes me mad that banks can charge all of these fees, especially the out of network ATMs. Credit Unions are definitely the way to go.
great tips girl!
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Thank you thank you thank you very much! (lol)
I’m so glad you’re sharing these great tips with all of us. I’ve actually had my account nearly whipped out due to fraud. I wish I had known this earlier so maybe I could have prevented the whole ordeal. Happy Monday doll.
Oh, that was terrible…it’s bad enough trying to hold onto your own money, the last thing you need is for someone else to get a hold of it…sorry that you had to experience that!
Necessary & Great tips. Thanks Sista.
Thank you, glad you enjoyed the post. Have a wonderful week.
Very good tips! I have been a victim of fraud twice and it is no fun!
OH NO!!!! Yes, there are too many scams out there!
It is so ridiculous that we have to live like this and be so fearful of the security of our accounts and our country.
I know but unfortunately scamming has been around since the beginning of time, however, it has definitely gotten more sophisticated! Enjoy the rest of your week.
These are awesome tips and a good time to be on guard because the scammers are gearing for holiday spending too! http://www.robincharmagne.com/blog
Thank you, I find myself looking more closely at those “swipers’ at the gas station now as well.
Such good pointers! Thanks for posting~
Thank you especially as you travel – keep an eye out on your accounts.
I was “burned” by #7. Not only did I pay an exorbitant amount of money for something I could have (SHOULD HAVE) done myself… but that crap is right back on my credit report under a different name.
Dawn, you have to be kidding me! It makes no sense how these companies can get away with scamming people like that. I wish you well and hope that all works out in the end. Thanks for stopping by and commenting.