As consumers’ COVID-19 pandemic spending habits and contactless shopping drive fraud and identity theft, credit card fraud and identity theft are exploding. The holidays are upon us, so you need to be extra vigilant. Credit card fraud has been among the fastest-growing types of identity theft, according to the Federal…
Even after death, no one is completely safe from identity theft. Known as “ghosting,” criminals can use the personal information of a deceased person to file false tax returns, claim Social Security benefits, open fraudulent loans and credit cards and more. Every year, millions of deceased Americans have their identities…
Rise of the Gaming Industry and the Free-to-Play Model Since the turn of the century, free-to-play (F2P) business models have become increasingly popular in the gaming industry. As a result of this model, gamers do not have to pay an upfront fee to play games, but they can make in-game…
A new report shows that scammers account for more than half of login attempts on social media sites like Facebook, Instagram, and Twitter. An Arkose Labs report found that 53% of social media logins and 25% of new accounts were created by scammers. About 75% of fraudulent activity comes from…
Student loan forbearance is one measure being taken to help Americans deal with the COVID-19 pandemic. As you might know, the Biden administration paused student loan payments for another three months in early January. As a result, repayments will begin on May 1. Scammers, however, will find ways to trick…
Tax season is here, and it’s crucial to watch out for common tax scams. During the past nine years, more than $23 million has been lost to tax scams, according to the IRS. Here are two scams to be aware of, and a few tips on how to avoid them.…
It may be true when they say “no good deed goes unpunished” as newly adopted regulations meant to protect consumers may have the opposite result if you aren’t cautious! Recent Consumer Financial Protection Bureau rules on debt collection practices could make consumers more vulnerable to online scams. What’s new and how…
Gift cards make great gifts. They show your loved ones that you know their interests and give them the freedom to select something of their own choice. The great thing about them is that they allow you to circumvent product shortages and shipping delays, which makes them an ideal gift…
Did you know that disputing fraudulent charges on a debit card is different from disputing them on a credit card? Knowing the differences between consumer protection laws can keep your accounts safe from identity theft. If you need to dispute a fraudulent debit card charge, the funds you lost are…
Graduation season is upon us, which means a lot of young adults will be going off on their own for the first time. With that newfound freedom, however, comes an increased risk of fraud and identity theft. Did you know that young people fall victim to fraud and identity theft…
When it comes to protecting your ID, debit cards are one of the worst ways to use your money. Due to its direct connection to your bank account, anyone with your card information can withdraw all the funds from your account instantly. The fact that debit cards do not have…
Breach of data is a daily occurrence. Hackers are finding more ways to steal information from businesses that have personal data on file, such as hospitals, business schools, energy providers, etc. Regularly reviewing your credit report each month to make sure thieves haven’t opened accounts in your name is a…
This month, qualifying Americans are starting to receive monthly payments as part of an advance on the expanded 2021 child tax credit. This economic stimulus is intended to help families and the economy rebound from the effects of the COVID-19 pandemic. But millions of direct IRS payments can mean opportunities…
Donating to charity is a worthwhile endeavor, and it can even result in some tax savings if you itemize your deductions at tax time. Even if you’re donating to charity for the first time, or you’ve supported your favorite causes for a long time, it’s a good idea to…
Although layoffs and new applications for unemployment benefits have slowed, fraud attempts have not. COVID-19 continues to provide scammers with a perfect opportunity to file fraudulent unemployment claims, often using someone else’s identity. These schemes have spread throughout the country. In the last year, the Federal Trade Commission (FTC) received…
Using the same methods as real employers, employment scammers trick job seekers through job ads online, in newspapers and even on TV and radio. In some cases, they may even contact individuals directly via email, phone, or social media. In these scams, scammers promise you a job, but in reality,…
Debt collectors can contact you directly when creditors sell your unpaid debt to a collection agency. Fraudsters posing as legitimate debt collectors may also target you, using deception or intimidation to collect debts you don’t owe or they don’t have the authority to collect. It’s probably not right if something…
The COVID-19 pandemic has caused confusion in people’s lives and finances, leading to a rise in check scams. Wells Fargo recently sent a message to its customers warning them about check scams. In particular, the 18-24 age group is particularly vulnerable since they are less familiar with what to look…
The recent Federal Bureau of Investigations Internet Crime Report shows that cybercrime has spiked, leaving hundreds of thousands of victims and costing more than $4 billion. The FBI received a record number of reports last year totaling 791,790, a 69% growth from 2019. Moreover, losses due to internet crime increased by $700…
Scammers target stimulus checks and small businesses seeking financial assistance with fake COVID-19 vaccines. In the period January – April 15, the Federal Trade Commission (FTC) received over 18,000 complaints regarding scams related to the Coronavirus, resulting in losses of about $9 million. FTC and FDA have issued warning letters…
Scammers are using scare tactics and prepaid cards to steal victims’ money in a new Social Security scam. Fraudsters are calling potential victims claiming they are from the Social Security Administration and reporting there has been suspicious activity involving the victim’s Social Security number (SSN), according to the Identity Theft…
Now is the time to protect yourself from account fraud and identity theft, which can severely damage your credit and finances. To better protect your money and identity, you don’t have to be an expert in finance or cybersecurity. You can implement these four realistic anti-fraud measures immediately to protect…
