Fraud Prevention Tips

Stop fraud with a few simple precautions.

Fraud can occur when another person scams you or manages to obtain your personal information. Information can include your Social Security number, bank account numbers or credit card numbers. Fraudulent individuals use your information to obtain credit in your name. If not caught, fraud can destroy your credit rating. Fortunately, there are ways to protect you and prevent fraud.

Recognizing Scams

Thieves employ various tactics to defraud you. Often, they look to acquire something from you such as credit and personal information. The key to protecting yourself from fraud is listening to your instincts and avoiding opportunities that seem "too good to be true." Some work-at-home opportunities promise thousands of dollars in payouts in a short time, and some people fall prey to email scams that request money or account information. Researching a company or business opportunity before investing your money and ignoring unsolicited emails that request personal information help lower your risk of fraud.

Secure Personal Information

Carelessness increases the risk of fraudulent activity. Never leave credit cards or statements in plain sight of others. Rather than store all your credit cards in your wallet, carry one for emergencies and place the others in a locked box or drawer. Therefore, if someone were to steal your wallet, you'll only need to contact one creditor to cancel the card. Check your mail as soon as it arrives. Leaving mail in your box for a long period is an open invitation for fraudulent individuals. Consider a post office box or paperless statements.

Safe Online Purchases

Online shopping is convenient and saves time. But shopping and giving your credit card information to an unsecured website increases the risk of fraud. Hackers or thieves can break into the website and acquire information about your transaction, such as your credit card number and expiration date. With this in hand, these individuals can shop and max out your credit accounts. Checking a website for security logos (a lock box in the lower right corner) ensures the safety of your personal information.

Fraud Monitoring

For an inexpensive fee, you can have your credit file monitored 24 hours a day. If someone attempts to get credit using your name or Social Security number, the company monitoring your file will send an automatic email alert to notify you of the situation.

References

• PNV: Tips for Preventing Card Fraud
• Crime Prevention from the District Attorneys: 10 Ways to Prevent Fraud