This document provides information to help consumers protect themselves from various types of fraud. It discusses common fraud scams like phishing emails, lottery scams, work-from-home scams, and investment scams. The document outlines warning signs of fraud and tips to avoid becoming a victim, such as being suspicious of unsolicited offers that promise prizes, keeping financial documents secure, and not providing personal information to unknown callers. Consumers are advised to properly research any business or investment opportunity to verify it is legitimate before agreeing to anything.
ATM security is one of the gravest concerns among all ATM owners and consumers. With growing ATM frauds and thefts its very necessary to follow some important security measures related to ATM usage or purchase. Here are some basic and important security measures to be followed to avoid ATM frauds.
On December 5, 2013, Ron Steinkamp, principal, government advisory services at Brown Smith Wallace, presented at the 2013 MIS Training Institute Governance, Risk & Compliance Conference. Ron focused on the following keys to fraud prevention, detection and reporting:
1. Anti-fraud culture
2. Fraud policy
3. Fraud awareness/training
4. Hotline
5. Assess fraud risks
6. Review/investigation
7. Improved controls
These PowerPoint presentations are intended for use by crime prevention practitioners who bring their experience and expertise to each topic. The presentations are not intended for public use or by individuals with no training or expertise in crime prevention. Each presentation is intended to educate, increase awareness, and teach prevention strategies. Presenters must discern whether their audiences require a more basic or advanced level of information.
NCPC welcomes your input and would like your assistance in tracking the use of these topical presentations. Please email NCPC at trainings@ncpc.org with information about when and how the presentations were used. If you like, we will also place you in a database to receive updates of the PowerPoint presentations and additional training information. We encourage you to visit www.ncpc.org to find additional information on these topics. We also invite you to send in your own trainer notes, handouts, pictures, and anecdotes to share with others on www.ncpc.org.
This document discusses various types of cyber crimes and provides case studies of cyber crimes in India. It summarizes a case study of cyber crimes related to 2008 bomb blasts in Ahmedabad where terrorists misused unsecured WiFi routers to send threatening emails. It also summarizes a case study where the website of BSNL was hacked by Anonymous India to protest the arrest of individuals under Section 66A of India's IT Act for social media posts. The document concludes that cyber crimes continue to increase in India despite the stringent IT Act.
This document discusses fraud risk and prevention. It begins with defining fraud and identifying common fraud schemes such as asset misappropriation, corruption, and financial statement fraud. Examples of each scheme are provided. The document also discusses elements that contribute to fraud occurrence, like opportunity and incentives. Effective fraud prevention controls are then outlined, including segregating duties, competitive bidding processes, and fraud hotlines. The importance of fraud risk assessments and creating an organizational culture of integrity are also emphasized.
This document summarizes a presentation on bank fraud and data forensics. It discusses common types of internal and external bank fraud such as wire fraud, check fraud, and asset misappropriation. It outlines the fraud triangle of opportunity, pressure, and rationalization. It emphasizes the importance of strong internal controls and segregation of duties to prevent fraud. The presentation also discusses how digital forensics can be used to investigate inappropriate network activity, email, internet usage, and recover deleted files during fraud investigations. Contact information is provided for the three presenters.
Understanding Its Suspicious Activity Reporting (SAR) Requirementcomplianceonline123
What is Suspicious Activity Report (SAR)?
BSA requires every US national bank to file a Suspicious Activity Report (SAR) when they detect certain known or suspected violations of federal law or suspicious transactions related to a money laundering activity or a violation of the BSA.
Purpose of SAR:
Identify new methodologies of money-laundering
Offer data for law enforcement investigation
Deter and Constraint money-laundering
BSA requires every US national bank to file a Suspicious Activity Report (SAR) when they detect certain known or suspected violations of federal law or suspicious transactions related to a money laundering activity or a violation of the BSA.
Purpose of SAR:
Identify new methodologies of money-laundering
Offer data for law enforcement investigation
Deter and Constraint money-laundering
Distinction between CTR and SAR
CTR is required whenever the transaction or series of transactions exceeds the minimum threshold requirement in a 24 hour period.
SAR is required to be filed when there are elements of uselessness, suspicion or indicators of potential illegal activity. Minimum threshold requirement is not applicable to SAR situation.
How to Identify Suspicious Activity?
Banks can use a number of methods to track and identify unusual activity – this may include:
Employee identification
Law enforcement enquiries and requests
Transaction and surveillance monitoring system output
Any combination of the above
When is SAR Filling Required?
A SAR filing is required for any potential crimes:
involving insider abuse regardless of the dollar amount;
where there is an identifiable suspect and the transaction involves $5,000 or more; and
where there is no identifiable suspect and the transaction involves $25,000 or more
When to File SARs:
A SAR should be filed no later than 30 calendar days from the date of the initial detection of facts that may constitute a basis for filing a SAR.
In cases where no suspect can be identified, the time period for filing a SAR is extended to 60 days.
SAR Narratives
SAR Narratives Should:
Be concise and clear
Be chronological and complete
Provide a detailed description of the known or suspected criminal violation or suspicious activity
Identify the essential elements of the information
Outline of Effective SAR Narrative:
Introduction
Body
Conclusion
Want to learn more about anti-money laundering process, BSA requirements and best practices? ComplianceOnline webinars and seminars are a great training resource. Check out the following links:
How to Write an Effective SAR Narratives
Best Practices for Writing Effective SAR.
Managing an Effective AML Compliance Program
Are You Doing Your BSA/AML Risk Assessment Properly?
How to Report under AML/BSA?
BSA/AML Compliance Checklist
How to Create Effective AML/BSA Compliance Program?
How to Develop Risk Models for AML Monitoring Program?
The document discusses fraud risk and consumer fraud management. It defines fraud and outlines the main categories. It provides data on fraud incidents and losses from regulatory reports. It then details common types of fraud like identity theft, credit card fraud, and phishing. The document outlines challenges in fraud management and provides examples of fraud attempts in Pakistan. It concludes with recommendations for financial institutions to strengthen anti-fraud culture, define clear roles and responsibilities, invest in fraud detection systems, and leverage fraud data and training to enhance consumer fraud management.
ATM security is one of the gravest concerns among all ATM owners and consumers. With growing ATM frauds and thefts its very necessary to follow some important security measures related to ATM usage or purchase. Here are some basic and important security measures to be followed to avoid ATM frauds.
On December 5, 2013, Ron Steinkamp, principal, government advisory services at Brown Smith Wallace, presented at the 2013 MIS Training Institute Governance, Risk & Compliance Conference. Ron focused on the following keys to fraud prevention, detection and reporting:
1. Anti-fraud culture
2. Fraud policy
3. Fraud awareness/training
4. Hotline
5. Assess fraud risks
6. Review/investigation
7. Improved controls
These PowerPoint presentations are intended for use by crime prevention practitioners who bring their experience and expertise to each topic. The presentations are not intended for public use or by individuals with no training or expertise in crime prevention. Each presentation is intended to educate, increase awareness, and teach prevention strategies. Presenters must discern whether their audiences require a more basic or advanced level of information.
NCPC welcomes your input and would like your assistance in tracking the use of these topical presentations. Please email NCPC at trainings@ncpc.org with information about when and how the presentations were used. If you like, we will also place you in a database to receive updates of the PowerPoint presentations and additional training information. We encourage you to visit www.ncpc.org to find additional information on these topics. We also invite you to send in your own trainer notes, handouts, pictures, and anecdotes to share with others on www.ncpc.org.
This document discusses various types of cyber crimes and provides case studies of cyber crimes in India. It summarizes a case study of cyber crimes related to 2008 bomb blasts in Ahmedabad where terrorists misused unsecured WiFi routers to send threatening emails. It also summarizes a case study where the website of BSNL was hacked by Anonymous India to protest the arrest of individuals under Section 66A of India's IT Act for social media posts. The document concludes that cyber crimes continue to increase in India despite the stringent IT Act.
This document discusses fraud risk and prevention. It begins with defining fraud and identifying common fraud schemes such as asset misappropriation, corruption, and financial statement fraud. Examples of each scheme are provided. The document also discusses elements that contribute to fraud occurrence, like opportunity and incentives. Effective fraud prevention controls are then outlined, including segregating duties, competitive bidding processes, and fraud hotlines. The importance of fraud risk assessments and creating an organizational culture of integrity are also emphasized.
This document summarizes a presentation on bank fraud and data forensics. It discusses common types of internal and external bank fraud such as wire fraud, check fraud, and asset misappropriation. It outlines the fraud triangle of opportunity, pressure, and rationalization. It emphasizes the importance of strong internal controls and segregation of duties to prevent fraud. The presentation also discusses how digital forensics can be used to investigate inappropriate network activity, email, internet usage, and recover deleted files during fraud investigations. Contact information is provided for the three presenters.
Understanding Its Suspicious Activity Reporting (SAR) Requirementcomplianceonline123
What is Suspicious Activity Report (SAR)?
BSA requires every US national bank to file a Suspicious Activity Report (SAR) when they detect certain known or suspected violations of federal law or suspicious transactions related to a money laundering activity or a violation of the BSA.
Purpose of SAR:
Identify new methodologies of money-laundering
Offer data for law enforcement investigation
Deter and Constraint money-laundering
BSA requires every US national bank to file a Suspicious Activity Report (SAR) when they detect certain known or suspected violations of federal law or suspicious transactions related to a money laundering activity or a violation of the BSA.
Purpose of SAR:
Identify new methodologies of money-laundering
Offer data for law enforcement investigation
Deter and Constraint money-laundering
Distinction between CTR and SAR
CTR is required whenever the transaction or series of transactions exceeds the minimum threshold requirement in a 24 hour period.
SAR is required to be filed when there are elements of uselessness, suspicion or indicators of potential illegal activity. Minimum threshold requirement is not applicable to SAR situation.
How to Identify Suspicious Activity?
Banks can use a number of methods to track and identify unusual activity – this may include:
Employee identification
Law enforcement enquiries and requests
Transaction and surveillance monitoring system output
Any combination of the above
When is SAR Filling Required?
A SAR filing is required for any potential crimes:
involving insider abuse regardless of the dollar amount;
where there is an identifiable suspect and the transaction involves $5,000 or more; and
where there is no identifiable suspect and the transaction involves $25,000 or more
When to File SARs:
A SAR should be filed no later than 30 calendar days from the date of the initial detection of facts that may constitute a basis for filing a SAR.
In cases where no suspect can be identified, the time period for filing a SAR is extended to 60 days.
SAR Narratives
SAR Narratives Should:
Be concise and clear
Be chronological and complete
Provide a detailed description of the known or suspected criminal violation or suspicious activity
Identify the essential elements of the information
Outline of Effective SAR Narrative:
Introduction
Body
Conclusion
Want to learn more about anti-money laundering process, BSA requirements and best practices? ComplianceOnline webinars and seminars are a great training resource. Check out the following links:
How to Write an Effective SAR Narratives
Best Practices for Writing Effective SAR.
Managing an Effective AML Compliance Program
Are You Doing Your BSA/AML Risk Assessment Properly?
How to Report under AML/BSA?
BSA/AML Compliance Checklist
How to Create Effective AML/BSA Compliance Program?
How to Develop Risk Models for AML Monitoring Program?
The document discusses fraud risk and consumer fraud management. It defines fraud and outlines the main categories. It provides data on fraud incidents and losses from regulatory reports. It then details common types of fraud like identity theft, credit card fraud, and phishing. The document outlines challenges in fraud management and provides examples of fraud attempts in Pakistan. It concludes with recommendations for financial institutions to strengthen anti-fraud culture, define clear roles and responsibilities, invest in fraud detection systems, and leverage fraud data and training to enhance consumer fraud management.
This document discusses fraud prevention at Summit Bank Limited. It defines fraud and notes that banks are susceptible to both internal and external fraud due to their operations. All employees are responsible for preventing fraud by complying with laws, rules and procedures. The key elements of an effective anti-fraud program are a strong control environment, risk assessment, control activities, information and communication, and ongoing monitoring. Common types of bank fraud include fake instruments, unauthorized transactions, and cybercrimes. Red flags that could indicate fraud include changes in an employee's lifestyle and behavior. Thoroughly knowing banking operations, employees, risks, and investigating anomalies are important for mitigating fraud risk.
Credit card fraud involves stealing credit card information through hacking websites, payment processors, or banks. This information is then sold on black markets. Buyers use the stolen cards to purchase goods, targeting payment gateways with lax security checks. Mules are employed to receive shipments of goods purchased fraudulently to then resell them for cash. Hackers, skimmers, phishers and cashiers each play a role in the process and receive a cut of the profits. The schemes outline real examples of how fraudsters have stolen credit card numbers, verified funds, bypassed security measures and laundered money from the illegal activities.
The Rights of Crime Victims In Indian Criminal Justice Systemsinghajay92
This document discusses the rights of crime victims in the Indian criminal justice system. It begins by noting that the Indian CJS was traditionally punitive and focused on the accused, marginalizing victims. It then outlines some of the key rights of victims, including the right to file an FIR, the right to compensation through financial assistance and medical expenses, and the right to assistance through counseling, advocacy, and support during legal proceedings. Finally, it concludes that while India has made some progress in recognizing victims' rights, more still needs to be done to fully establish compensation as a statutory right and ensure the conviction of accused criminals.
Introduction to financial fraud, Financial and corporate fraud, Threats to the organization, Challenges, Case study on Bernard l. madoff investment securities LLC, How a Ponzi scheme works, Madoff Fraud
Money laundering refers to disguising illegally obtained money to make it appear legitimate. It involves three steps - placement, layering, and integration. Criminals like drug dealers, mobsters, corrupt politicians, and terrorists engage in money laundering to hide the source and destination of funds from illegal activities. Key causes of money laundering include tax evasion, increasing profits from crime, and limited risks of exposure. Money laundering distorts economies, increases corruption and crime, undermines financial market integrity, and risks countries' reputations.
The document discusses the growing problem of identity theft in the United States. It defines identity theft and outlines some key statistics, such as over 340 million Americans having their identities stolen since 2005. It also discusses the different types of identity theft, including how thieves can steal identities to gain employment, file taxes, obtain loans and credit cards, or even be arrested for someone else's crimes. Lastly, it provides tips on how to deter, detect, and defend against identity theft by monitoring accounts and reports for fraudulent activity.
what is fraud,
Fico,
Check my file,
fraud watch,
identity security,
fair credit reporting act,
report agency,
will i get credit,
Problems with money,
Credit Solution,
Credit union,
How to dispute credit,
credit information,
a score money,
identity theft alert,
lifelock,
financial fraud,
Fraud can take many forms but generally involves deception for financial or personal gain. There are three main types of fraud: corruption, asset misappropriation, and financial statement fraud. Fraud is most often committed due to pressure, opportunity, and the ability to rationalize one's actions. Companies can help prevent fraud by breaking this fraud triangle through strong internal controls, monitoring, and creating a culture of integrity and accountability.
This document summarizes a presentation on current trends in fraud prevention. It discusses common types of payment fraud like check, credit card, and wire transfer fraud. It also discusses challenges posed by holder in due course claims for check fraud. The presentation recommends implementing a fraud prevention matrix that combines procedural controls, check protection, transaction screening, and fraud protection services. It provides examples of specific fraud prevention tools and services offered by banks and third parties.
We offer services such as Partner and Marital Investigation, Teenage Surveillance and Drug Detection,etc. Contact us if you are searching for a Private Investigation Services in Ireland.
There are three main types of identity crimes: identity theft, identity fraud, and account takeover. Identity theft involves stealing someone's personal information. Identity fraud is using stolen or fake identities for ethical or unethical purposes. Account takeover occurs when a fraudster uses someone's identity information like an email to access unauthorized financial or personal accounts. Globalization and technology like hacking, phishing, and spyware have made identity crimes easier to commit from anywhere. Careless behavior and oversharing of information online and in documents discarded without shredding also contribute to identity losses, with a survey finding that every minute sees 19 new victims.
Presentation on Financial Crimes. Money is one of the most important reasons behind all forms of crime whether Cyber or Internet crimes, Physical or Theft crimes. With the advancement of technology the crime has not decelerated but only esteemed and many more new techniques were by people and they were popularly called as Blackhat hackers. In this presentations we give an over view of the whole scenario.
Social Engineering - Human aspects of industrial and economic espionageMarin Ivezic
Social engineering is not just a supporting process to obtain system access; it could be the main attack. Organizations that focus only on a narrow definition of social engineering as an attack vector to obtain system access will fail to create awareness of all other possible social engineering attack methods.
Phishing is the attempt to acquire sensitive information such as usernames, passwords, and credit card details (and sometimes, indirectly, money), often for malicious reasons, by masquerading as a trustworthy entity in an electronic communication.
Fraud Analytics with Machine Learning and Big Data Engineering for TelecomSudarson Roy Pratihar
Presentation of a successful project executed on telecom fraud analytics @ 3rd International conference for businees analytics and intelligence, Indian Institute of Management Bangalore
The document discusses various principles of fraud including:
1) Definitions of fraud, corporate fraud, management fraud, and financial statement fraud.
2) The fraud triangle consisting of pressure/motivation, opportunity, and rationalization as the three elements common to every fraud.
3) Characteristics of typical fraudsters including that they are usually someone trusted and not initially suspected, and profiles of high-level and low-level thieves.
4) Taxonomies used to classify fraud including against customers/investors, criminal/civil, for/against the company, and internal/external fraud.
5) The "fraud tree" categorizing fraud into fraudulent statements, asset
Seniors aged 60 and older account for about 15% of the US population but comprise 30% of fraud victims. Seniors are targeted because they can be more trusting and vulnerable, with assets and a reluctance to report scams. Common scams involve phishing emails, fake lotteries and sweepstakes, fraudulent home and investment schemes, and identity theft. Seniors are advised to be wary of unsolicited offers and requests for personal information, and to check with authorities before donating or investing.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
This document discusses fraud prevention at Summit Bank Limited. It defines fraud and notes that banks are susceptible to both internal and external fraud due to their operations. All employees are responsible for preventing fraud by complying with laws, rules and procedures. The key elements of an effective anti-fraud program are a strong control environment, risk assessment, control activities, information and communication, and ongoing monitoring. Common types of bank fraud include fake instruments, unauthorized transactions, and cybercrimes. Red flags that could indicate fraud include changes in an employee's lifestyle and behavior. Thoroughly knowing banking operations, employees, risks, and investigating anomalies are important for mitigating fraud risk.
Credit card fraud involves stealing credit card information through hacking websites, payment processors, or banks. This information is then sold on black markets. Buyers use the stolen cards to purchase goods, targeting payment gateways with lax security checks. Mules are employed to receive shipments of goods purchased fraudulently to then resell them for cash. Hackers, skimmers, phishers and cashiers each play a role in the process and receive a cut of the profits. The schemes outline real examples of how fraudsters have stolen credit card numbers, verified funds, bypassed security measures and laundered money from the illegal activities.
The Rights of Crime Victims In Indian Criminal Justice Systemsinghajay92
This document discusses the rights of crime victims in the Indian criminal justice system. It begins by noting that the Indian CJS was traditionally punitive and focused on the accused, marginalizing victims. It then outlines some of the key rights of victims, including the right to file an FIR, the right to compensation through financial assistance and medical expenses, and the right to assistance through counseling, advocacy, and support during legal proceedings. Finally, it concludes that while India has made some progress in recognizing victims' rights, more still needs to be done to fully establish compensation as a statutory right and ensure the conviction of accused criminals.
Introduction to financial fraud, Financial and corporate fraud, Threats to the organization, Challenges, Case study on Bernard l. madoff investment securities LLC, How a Ponzi scheme works, Madoff Fraud
Money laundering refers to disguising illegally obtained money to make it appear legitimate. It involves three steps - placement, layering, and integration. Criminals like drug dealers, mobsters, corrupt politicians, and terrorists engage in money laundering to hide the source and destination of funds from illegal activities. Key causes of money laundering include tax evasion, increasing profits from crime, and limited risks of exposure. Money laundering distorts economies, increases corruption and crime, undermines financial market integrity, and risks countries' reputations.
The document discusses the growing problem of identity theft in the United States. It defines identity theft and outlines some key statistics, such as over 340 million Americans having their identities stolen since 2005. It also discusses the different types of identity theft, including how thieves can steal identities to gain employment, file taxes, obtain loans and credit cards, or even be arrested for someone else's crimes. Lastly, it provides tips on how to deter, detect, and defend against identity theft by monitoring accounts and reports for fraudulent activity.
what is fraud,
Fico,
Check my file,
fraud watch,
identity security,
fair credit reporting act,
report agency,
will i get credit,
Problems with money,
Credit Solution,
Credit union,
How to dispute credit,
credit information,
a score money,
identity theft alert,
lifelock,
financial fraud,
Fraud can take many forms but generally involves deception for financial or personal gain. There are three main types of fraud: corruption, asset misappropriation, and financial statement fraud. Fraud is most often committed due to pressure, opportunity, and the ability to rationalize one's actions. Companies can help prevent fraud by breaking this fraud triangle through strong internal controls, monitoring, and creating a culture of integrity and accountability.
This document summarizes a presentation on current trends in fraud prevention. It discusses common types of payment fraud like check, credit card, and wire transfer fraud. It also discusses challenges posed by holder in due course claims for check fraud. The presentation recommends implementing a fraud prevention matrix that combines procedural controls, check protection, transaction screening, and fraud protection services. It provides examples of specific fraud prevention tools and services offered by banks and third parties.
We offer services such as Partner and Marital Investigation, Teenage Surveillance and Drug Detection,etc. Contact us if you are searching for a Private Investigation Services in Ireland.
There are three main types of identity crimes: identity theft, identity fraud, and account takeover. Identity theft involves stealing someone's personal information. Identity fraud is using stolen or fake identities for ethical or unethical purposes. Account takeover occurs when a fraudster uses someone's identity information like an email to access unauthorized financial or personal accounts. Globalization and technology like hacking, phishing, and spyware have made identity crimes easier to commit from anywhere. Careless behavior and oversharing of information online and in documents discarded without shredding also contribute to identity losses, with a survey finding that every minute sees 19 new victims.
Presentation on Financial Crimes. Money is one of the most important reasons behind all forms of crime whether Cyber or Internet crimes, Physical or Theft crimes. With the advancement of technology the crime has not decelerated but only esteemed and many more new techniques were by people and they were popularly called as Blackhat hackers. In this presentations we give an over view of the whole scenario.
Social Engineering - Human aspects of industrial and economic espionageMarin Ivezic
Social engineering is not just a supporting process to obtain system access; it could be the main attack. Organizations that focus only on a narrow definition of social engineering as an attack vector to obtain system access will fail to create awareness of all other possible social engineering attack methods.
Phishing is the attempt to acquire sensitive information such as usernames, passwords, and credit card details (and sometimes, indirectly, money), often for malicious reasons, by masquerading as a trustworthy entity in an electronic communication.
Fraud Analytics with Machine Learning and Big Data Engineering for TelecomSudarson Roy Pratihar
Presentation of a successful project executed on telecom fraud analytics @ 3rd International conference for businees analytics and intelligence, Indian Institute of Management Bangalore
The document discusses various principles of fraud including:
1) Definitions of fraud, corporate fraud, management fraud, and financial statement fraud.
2) The fraud triangle consisting of pressure/motivation, opportunity, and rationalization as the three elements common to every fraud.
3) Characteristics of typical fraudsters including that they are usually someone trusted and not initially suspected, and profiles of high-level and low-level thieves.
4) Taxonomies used to classify fraud including against customers/investors, criminal/civil, for/against the company, and internal/external fraud.
5) The "fraud tree" categorizing fraud into fraudulent statements, asset
Seniors aged 60 and older account for about 15% of the US population but comprise 30% of fraud victims. Seniors are targeted because they can be more trusting and vulnerable, with assets and a reluctance to report scams. Common scams involve phishing emails, fake lotteries and sweepstakes, fraudulent home and investment schemes, and identity theft. Seniors are advised to be wary of unsolicited offers and requests for personal information, and to check with authorities before donating or investing.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
This document provides information and advice about identity theft protection. It discusses how identity thieves use personal information like Social Security numbers and bank account details to commit fraud. Victims often spend hundreds of hours and money repairing the damage caused by identity theft. The document recommends steps people can take to prevent identity theft such as shredding documents with financial information, monitoring credit reports, using strong and unique passwords, and being wary of unsolicited requests for personal details. Resources for victims of identity theft are also listed.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Identity theft involves criminals stealing personal information like Social Security numbers and using it to open accounts or apply for loans. Around 10 million Americans are victims of identity theft each year. People can reduce their risk by checking credit reports annually, guarding their Social Security number, and ignoring suspicious emails. If someone becomes a victim, they should contact credit reporting agencies, close fraudulent accounts, file a police report, and potentially file an identity theft insurance claim for assistance recovering. ERIE insurance offers an identity theft endorsement for $20 per year that provides up to $25,000 to help restore someone's identity if stolen.
This presentation discusses consumer fraud and scams that often target seniors. It defines consumer fraud and notes that seniors account for a large percentage of fraud victims despite being a smaller portion of the population. Various common scams are described such as sweepstakes and lottery scams, charity scams, identity theft, caretaker crimes, and health and funeral fraud. Warning signs of fraud are provided and steps seniors can take to protect themselves are outlined, including verifying identities, resisting pressure to act quickly, and reporting fraud.
Theresa Harden is a real estate agent with Exit Hawaii Dream Realty. The document provides information on monitoring your credit report and taking steps to protect against identity theft. It advises getting a copy of your credit report yearly from the three major credit bureaus to check for accuracy and suspicious activity. It also outlines steps to take if identity theft is suspected, such as placing fraud alerts and filing police reports. Tips are given to minimize identity theft risks such as using strong passwords, securing personal information, and shredding documents with private details.
This document summarizes an identity theft and fraud presentation given by Daniel Chometa of Consolidated Credit Counseling Services of Canada. It discusses what identity theft is, how it happens, current threats like phishing and scams, and steps people can take to protect themselves, including protecting personal information, mail, accounts and devices. Victims are advised on steps to take if they become a victim of identity theft.
Dr. Barbara O'Neill and Carol Kando-Pineda, of the Federal Trade Commission, will present this 90-minute webinar on behalf of the Military Families Learning Network. This 90-minute webinar will include two sections: a general overview of identity theft and discussion about military-specific scams. Topics covered during the first section, presented by Dr. O’Neill, include a definition of identity theft, signs of identity theft, an identity theft risk assessment quiz, types of identity theft, how identity theft occurs, ways to reduce identity theft risk, phishing scams, proactive and reactive identity theft actions, and identity theft resources. Ms. Kando-Pineda plans to discuss getting help for identity theft victims, including the steps they need to take immediately, walking through the new features for consumers on Identitytheft.gov and how they help victims develop a recovery plan, get a heads-up on the latest “imposter” scams, and an update on the Military Consumer campaign and new resources on the way for the military community.
This document provides information about identity theft, how to protect yourself, and what to do if you become a victim. It defines identity theft as the illegal use of someone's personal information without their consent. It discusses how thieves steal information like Social Security numbers, bank account numbers, and credit card numbers. The results for victims can include financial losses, wasted time fixing the problem, and stress. Technological advances have increased opportunities for identity theft by making more financial transactions electronic. The document provides tips for protecting yourself such as shredding documents, being wary of phishing scams, and monitoring your accounts. It also outlines steps to take if you are victimized, like placing fraud alerts on credit reports and filing police reports.
The document discusses the lottery scam, also known as the Jamaican lottery scam or 876 area code scam. It begins with victims receiving unsolicited notifications that they have won a large prize or lottery. Scammers then demand money for fees like taxes or shipping before the victim can receive their winnings. The scammers prefer payment through money transfer services like Western Union or Green Dot cards. Victims never receive any winnings and are often targeted by additional scams after being initially victimized. The lottery scam is estimated to generate $300 million annually and is linked to hundreds of murders in Jamaica where many of the scams originate from.
This document provides information and resources for preventing senior scams. It discusses common scams like phishing, sweepstakes scams, and work-at-home scams. It offers tips for protecting personal information and checking investments. If someone becomes a victim of fraud, the document recommends calling the police, consumer protection agencies, and organizations that can help resolve identity theft and recover losses.
This document provides information about identity theft risks and prevention strategies. It defines identity theft, describes common forms like credit card and loan fraud, and explains how thieves obtain personal information through stolen mail, online scams, or workplace theft. Key recommendations include limiting available information, monitoring accounts, and immediately reporting any suspected identity theft. The document also discusses free credit reports and identity theft protection practices like shredding documents and strong passwords.
This document provides information about fraud prevention. It discusses four main types of identity theft and warns signs that your identity may have been stolen. Consumer frauds discussed include charity, credit card, and foreclosure scams. Investment frauds like Ponzi schemes, annuities, and promissory notes are also covered. The document advises how to report fraud, safeguard your identity, and do research before investing to help prevent becoming a victim.
Peer-to-peer (P2P) lending allows individuals and small businesses to obtain loans funded by other individuals through online lending platforms. Borrowers request loans which are then funded by multiple lenders who purchase promissory notes. P2P lending has grown as a source of funding for borrowers who may have difficulty obtaining loans from traditional banks. However, P2P loans also carry higher risks for lenders since the loans are unsecured, borrower financials may not be thoroughly verified, and default rates can be high. P2P lending platforms and loans may be regulated by the SEC, state securities regulators, and banking regulators depending on the structure of the platform and loans.
This document provides information about identity theft, including stories from three victims and tips to help prevent identity theft. It discusses how identity thieves obtain personal information from dumpster diving, phishing emails, unsecured mailboxes, public Wi-Fi networks, and more. The stories describe cases of a thief opening multiple credit cards in someone's name, filing a fraudulent tax return, and making purchases with a stolen debit card number. Experts advise freezing credit, reporting incidents to police and the FTC, changing passwords, and shredding documents with personal information.
This document summarizes 5 common scams aimed at international students: 1) Immigration scams involve calls claiming a student's visa is at risk unless a payment is made; 2) Scholarship scams offer scholarships in exchange for upfront payments, which is never required; 3) Study loan scams make false promises of loans in exchange for fees; 4) Accommodation scams rent unsafe or unauthorized housing; 5) Money laundering scams involve requests for bank details or deposits that funnel money illegally. Students are advised to verify information directly with official sources and avoid providing personal details to unknown parties.
This document provides guidance on developing bylaws for nonprofit and public boards. It discusses key elements to include such as the board's size, selection process, terms and voting procedures. For public boards, bylaws are not required but are recommended to establish standard operating rules. The document outlines relevant Wyoming statutes and differences between nonprofit and public boards. It emphasizes that bylaws should reflect the organization's mission and define duties, authority limits and standard procedures.
This document discusses financial issues in later life. It begins by listing references on topics like retirement planning strategies, creating retirement income, and managing retirement savings. It then discusses the importance of financial resilience to withstand life events. Some common financial challenges in later life like unemployment, health issues, death of a spouse, and investment losses are outlined. Strategies to increase financial resilience such as maintaining emergency savings, keeping skills sharp, and practicing healthy habits are provided. The document also discusses catch-up retirement planning strategies for those who got a late start on saving. Creating a regular "retirement paycheck" through withdrawal strategies, annuities, reverse mortgages or continued part-time work is presented as a way to manage finances in
Will you go over budget this holiday season? How will you know? Learn how to budget for periodic expenses. Learn how to track spending so you know how much you have to spend.
The proper methods and considerations involved in passing on personal items are often missed in estate planning. Who will get Dad's pipe or Mom's china set? Some guidelines to assist in passing personal property in Wyoming.
After a person passes away, their family, attorney, and personal representative have many legal steps to complete to close out the deceased's affairs. This can take months or years depending on the complexity of the estate. The personal representative must navigate federal and state laws to complete tasks like reporting the death, locating important documents, canceling subscriptions, protecting assets, paying debts and benefits, filing probate documents, settling with creditors, and filing a final report to close out the estate. Completing all of these steps properly is required by law.
This document provides an introduction to estate planning. It discusses key estate planning tools like wills, durable powers of attorney, healthcare directives, trusts, and beneficiary designations. The document outlines how property is transferred when a person dies with or without a will, and explains important legal requirements for wills in Wyoming. It also summarizes procedures for probate, appointing guardians, and distributing remains. The document aims to explain major considerations and options for estate planning.
This document provides guidance for parents on helping their children find summer jobs and earn money through chores. It recommends websites for finding summer job opportunities, developing a resume and reference list, and preparing for interviews. Tips are provided on starting an allowance system for younger children through chore charts and increasing responsibilities. The document also covers tax obligations, opening a savings account, and establishing good financial habits from an early age.
The document discusses the role and responsibilities of a personal representative, who is appointed to carry out the directions in a will and settle an estate according to the deceased person's wishes. As a fiduciary, the personal representative has numerous legal and financial duties, including notifying beneficiaries, collecting assets, paying debts and taxes, and distributing the remaining estate. It is important to carefully choose a personal representative who has the time, skills, trustworthiness and willingness to take on these responsibilities.
After determining spending patterns and needs, setting well-thought-out financial goals is important. Goals are determined by our values and circumstances. Values influence the choices we make about money. Knowing your values makes it easier to create a financial plan and set goals. Goals should be specific, measurable, attainable, realistic, and time-bound to be effective. Both short-term and long-term goals are important to consider when planning finances.
The document provides guidance for mediators on effectively facilitating the mediation process, including gathering information from parties, setting up the physical space, preparing supplies, handling unexpected attendees, knowing the mediation process, appearance and greetings, and providing an opening statement that orients parties to the purpose and process. The mediator is advised to use open-ended questions to understand each party's perspective and issues, establish ground rules, and work towards developing a list of issues and potential solutions.
This document provides an overview of strategic planning for boards. It defines strategic planning as a deliberative process to make fundamental decisions that guide an organization. The key components of strategic planning include developing a mission, values, vision, and SWOC analysis. Goals and objectives are created at the strategic, tactical, and operational levels. An implementation plan and monitoring system are also important parts of the strategic planning process. The overall process helps organizations address challenges and enhances learning to effectively achieve their missions.
Choosing Your Estate Personal RepresentativeBill Taylor
This document discusses the role and responsibilities of a personal representative (PR), who is responsible for settling a deceased person's estate. It explains that choosing a PR is important as it can mean the difference between a smooth or problematic estate settlement. The duties of a PR include locating important documents, notifying relevant parties, managing assets, paying debts and taxes, and distributing assets to beneficiaries. Qualities of a good PR include availability, trustworthiness, and relevant skills. The document provides questions to consider when choosing a PR and recommends notifying your chosen representative.
This document provides a 3-step process for having difficult conversations:
1. Gain clarity by thinking carefully about the message and removing feelings.
2. Overrule avoidance by asking if the conversation will help the other person and ensure the message is consistent with your reputation.
3. Execute the message with directness and sensitivity by stating issues as "I" messages rather than accusations and getting straight to the point.
1. The Wyoming Open Meetings Law requires that meetings of public agencies be open to the public, with certain exceptions. The purpose is to ensure government business is conducted openly.
2. The law applies to state and local government bodies and agencies receiving public funds. A meeting is defined as an assembly of a quorum called to discuss or take action on public business.
3. Actions taken in violation of the open meetings law are null and void. The law specifies requirements for notice, minutes, executive sessions, and violations.
This document discusses best practices for recruiting and onboarding new members to advisory boards. It emphasizes the importance of board diversity and representing the community served. Current board members should share information about open positions and skills needed. The recruitment process involves finding candidates through various channels and establishing criteria. New members require full orientation on the organization's mission, roles, and activities. Annual board and member evaluations help determine recruitment needs and strengthen performance.
This document summarizes a presentation on conflict management. It discusses that conflict is natural and inevitable, and outlines what typically happens during a conflict such as emotions rising and communication decreasing. It also notes some benefits of conflict like problem identification and organizational growth. The document then discusses various approaches to handling conflict, including different responses like avoiding, fighting, or negotiating issues. It provides tips for managing conflict through tools like separating people from problems and focusing on interests rather than positions. The presentation emphasizes generating options for mutual gain and using objective criteria to resolve conflicts.
The document discusses seven principles of waterwise landscaping:
1) Plan and design comprehensively by considering slope, exposure, soils and existing vegetation.
2) Evaluate and improve the soil if needed through testing, shaping, filling, fertilizing and adding organic matter.
3) Grade slopes to allow water to soak in and group plants according to water needs.
4) Choose appropriate plants like native grasses that require less water and use mulches to reduce evaporation.
The document provides information on selecting and maintaining turfgrass varieties. It discusses key terminology used to identify grass parts. Several cool-season and warm-season grass varieties adapted to Wyoming are described, including their characteristics, water needs, and seeding rates. The steps for establishing a new lawn from seed or sod are outlined, including soil preparation, planting, watering, and initial mowing. Ongoing maintenance recommendations are provided for the different seasons, such as mowing height, watering, fertilizing, and controlling pests.
The document provides guidance on gardening preparation, planting, and care. It discusses preparing the seedbed, fertilization methods and calculations, timing for planting cool and warm season crops, hardiness zones, seed quality, germination requirements, watering techniques, thinning, replanting strategies, weeding, planting balled and bare root plants, and pruning fruit trees.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
3 Simple Steps To Buy Verified Payoneer Account In 2024SEOSMMEARTH
Buy Verified Payoneer Account: Quick and Secure Way to Receive Payments
Buy Verified Payoneer Account With 100% secure documents, [ USA, UK, CA ]. Are you looking for a reliable and safe way to receive payments online? Then you need buy verified Payoneer account ! Payoneer is a global payment platform that allows businesses and individuals to send and receive money in over 200 countries.
If You Want To More Information just Contact Now:
Skype: SEOSMMEARTH
Telegram: @seosmmearth
Gmail: seosmmearth@gmail.com
How MJ Global Leads the Packaging Industry.pdfMJ Global
MJ Global's success in staying ahead of the curve in the packaging industry is a testament to its dedication to innovation, sustainability, and customer-centricity. By embracing technological advancements, leading in eco-friendly solutions, collaborating with industry leaders, and adapting to evolving consumer preferences, MJ Global continues to set new standards in the packaging sector.
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Structural Design Process: Step-by-Step Guide for BuildingsChandresh Chudasama
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
In the recent edition, The 10 Most Influential Leaders Guiding Corporate Evolution, 2024, The Silicon Leaders magazine gladly features Dejan Štancer, President of the Global Chamber of Business Leaders (GCBL), along with other leaders.
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
1. CONSUMER FRAUD:
Protect Yourself!
Bill Taylor
University of Wyoming
Community Development Area Educator
The University of Wyoming is an 1
equal opportunity/affirmative
action institution.
2. Fraud in Wyoming
Cheyenne residents targeted
Scammer claimed to have known
Ferdinand Marcos and had gold
certificates worth billions
Would receive $1 million for an
application fee of $10,000 as part of
a ‘self liquidating loan’
50 investors lost $1 million
UW Community 2
Development Education
3. Warning signs of fraud
Be suspicious if you hear
You’ve won a prize or free gift
You’ve been selected to receive a special
offer
You must act immediately or lose out
You must pay for shipping your prize or free
gift
Give us your credit card number and
expiration date to verify that you are a credit
cardholder
UW Community 3
Development Education
4. More warning signs of fraud
You’re asked for personal information
You’re asked to donate to an agency
whose name sounds like a well known
charity
You’re one of only a chosen few to
receive this offer
A courier will come to your home to get
your payment
Little risk and large, short term profits
UW Community 4
Development Education
5. Sucker lists
If you often respond to sweepstakes or
contests, your name might be added to
lists sold to con artists
A sucker list contains the names of
people who have been, or are good
candidates to be, victims of fraud
People on the lists may hear from crooks
who claim they can help recover, for a
fee, money lost to a con artist
UW Community 5
Development Education
6. Types of scams
Following are various types of scams
This list is not exhaustive
www.scambusters.org list 227 present
scams, with more added as they appear
UW Community 6
Development Education
7. Phishing
A term used for emails that claim to be
from your bank, a reputable business or
a government agency
Criminals ask for personal information
such as Social Security numbers or
account numbers to steal funds and/or
steal identities
UW Community 7
Development Education
8. Grammar
A phishing email. . .
– preys on fears
– nothing is safe
Spelling
The University of Wyoming is an 8
equal opportunity/affirmative
action institution.
9. Nigerian letters
E-mails that ask recipients to provide
their bank account number to help them
share in a big pot of money
If you respond to these letters you will
lose your money
UW Community 9
Development Education
10. Sweepstakes and lotteries
You’re told that you’ve won a
sweepstakes or the Canadian
lottery
You’re asked to pay for
processing, taxes or delivery, or
provide a bank account number to
verify your identity
No one ever receives a penny
except for the thieves
UW Community 10
Development Education
11. Travel scams
Before buying travel packages
Get the offer in writing
Check to see if the company is
legitimate:
the Better Business Bureau
state attorney general’s office
your local consumer protection agency
the U.S. Dept. of Transportation (DOT) at
202-366-2396
Always use a credit card to purchase
travel
UW Community 11
Development Education
12. Charities
‘Sound-alike’ names can be tricky
Nonprofit and charitable groups
must file IRS Form 990
Check 990s at GuideStar
www.guidestar.org
Before you donate, check to see if
the charity is legitimate
www.charitywatch.org: 773-529-
2300
UW Community 12
Development Education
13. Work-at-home scams
Do not respond—these offers are scams
If you respond, you’ll be asked to pay for
supplies upfront
Might ask you for your credit card, bank
account or Social Security numbers for
fraudulent uses
UW Community 13
Development Education
14. Credit card fraud
Keep an eye on your credit
cards at all times
Unscrupulous employees
might steal the information
from your credit card and use
it to make counterfeit cards
Shred all credit card
statements, receipts and
solicitations before throwing
them away
UW Community 14
Development Education
15. Dumpster diving
Crooks look in garbage cans and
elsewhere for discarded credit card
statements and receipts to obtain the
card numbers
These papers can be used to steal your
identity and set up credit in your name
Shred sensitive papers
UW Community 15
Development Education
16. Real estate fraud
Before purchasing property out of state,
contact a national real estate firm with
licensed brokers
Before you purchase land contact:
The state department of real estate
where the land is located
The U.S. Department of Housing and
Urban Development at 202-708-0502
UW Community 16
Development Education
17. Contractor fraud
Traveling contractors are rarely licensed
or insured and often take a large cash
payment up front
They will probably never return to
complete the work
When you need a contractor for a home
improvement job, get at least 3
estimates from reputable local
contractors
UW Community 17
Development Education
18. Home equity loan fraud
Often working with unscrupulous
lenders, door-to-door salespeople offer
“easy financing” for improvements and
home repairs that may not be needed at
all
Often the work they do is shoddy or
incomplete
The loans they arrange are secured by
your home and often carry very high
interest rates and other costs
UW Community 18
Development Education
19. Refinancing scams
Brokers solicit homeowners to
refinance their existing mortgages
and replace them with bad loans
Bad loans have inflated fees and
interest and high monthly payments
that homeowners cannot afford to
pay
The homeowner falls into default and
the home is foreclosed on
The crooks buy up the real estate at
deflated prices
UW Community 19
Development Education
20. Deed forgeries
Scam artists forge the
homeowner’s signature on a
blank deed in order to transfer
ownership of their property
Never sign blank contract
documents
UW Community 20
Development Education
21. Fly-by-night lenders
Phony lenders
Set up offices in low income and minority
neighborhoods
Get homeowners’ signatures on loan
documents
Disappear with the loan money
Loans may be resold to another lender
who then forecloses on the homes
UW Community 21
Development Education
22. Investment fraud
Everyone would like to see his
or her money grow faster
Crooks try to convince people
to buy phony investments
with promises of unusually
high returns
UW Community 22
Development Education
23. Analysis of Audio Tapes
Investment fraud criminals use a wide array of influence
tactics. The research found 1,100 separate uses of the
influence tactics in 128 transcripts. The most
frequently-used tactics were:
Phantom Fixation – “These gas wells are
guaranteed to produce $6,800 a month in income.”
Commitment – “You can vote to stop drilling, but if
you do, all the rest of what you have invested will be
lost.”
Authority – “I have been in the oil business for over
30 years and I have seen it all.”
Social Consensus – “I know it’s a lot of additional
money to spend, but I am in this thing just as deep
as you are and I say its worth every dime.”
Scarcity – “There are only two units left in this well.”
UW Community 23
Development Education
24. Avoid investment fraud
Do your homework about investments
If you are targeted with questionable
investment offers, notify the U.S.
Securities and Exchange Commission
(SEC)
Call your state attorney general’s office
to file a complaint
UW Community 24
Development Education
25. Checking investments
Check with the SEC before
investing
Has the offering been cleared for
sale in your state? Call your state
securities department
Check disciplinary actions against
brokers with the Central
Registration Depository (CRD)
The National Association of
Securities Dealers (NASD) may
provide a disciplinary history on
a broker or firm. 800-289-9999
or www.nasd.com
UW Community 25
Development Education
26. Pyramid schemes
Promoters recruit investors and use
them to recruit more investors
Investors are promised a fabulous
return, such as 20% a year
Some investors might receive
money but eventually, the
organizers run off with everything
Pyramid schemes are often called
“investment clubs” or “gifting
circles,” and can involve the sale of
products or distributorships
UW Community 26
Development Education
27. ID theft
ID theft criminals use your personal
information to apply for credit or
government benefits
Your name
Your birth date
Your Social Security number
Your address
Your bank account or credit card
numbers
UW Community 27
Development Education
28. Fake cashier’s checks
Crooks scan want ads looking for victims
Answer ads and offer to pay by “cashier’s
check” for more than the sales price
Ask you to wire the remainder of the
money back to them or to give the extra
money and the merchandise to a
“shipper”
Check turns out to be a fake and you lose
the merchandise and the money
UW Community 28
Development Education
29. Credit card loss protection
Don’t buy the worthless credit
card loss protection and
insurance programs sold by
telemarketers
Your liability for unauthorized
credit card charges is limited
to $50
UW Community 29
Development Education
30. Protect your property and assets
Financial exploitation is often committed by
a person that is trusted by the victim
Keep all important financial documents
under lock and key in your home
Store valuables in a bank safe deposit box
UW Community 30
Development Education
31. Medicare fraud
Medicare prohibits companies offering its
approved drug cards from calling you,
sending emails or coming to your home
unless you ask them
If you are interested in the benefits
available to you as a Medicare
beneficiary, visit the federal
government’s Medicare web site
(www.medicare.gov) or call 800-
MEDICARE (800-633-4227)
UW Community 31
Development Education
32. Health fraud
Signs of health fraud include:
Promoters of cures who claim that the
medical establishment is keeping
information away from consumers
Testimonials from people who
supposedly have been cured
“Secret formulas” that no one else has
The use of infomercials—programs that
look like news, but are just lengthy ads
paid for by the promoter
UW Community 32
Development Education
33. Living trusts
Living trusts are a legitimate estate-
planning tool
Typically, consumers with low income
and small estates do not need them
Consider a living trust only if your
estate’s value is higher than the state’s
minimum limit for probate, which is
$100,000 in Wyoming
UW Community 33
Development Education
34. Funerals and burial scams
While it makes sense to plan your
funeral and burial in advance, it is
not a good idea to pay for these
services in advance
Draw up your plans with a
reputable funeral business and
save a copy for your survivors
If you want cover the cost of your
funeral include funds to do so in
your will
UW Community 34
Development Education
35. Warning signs of fraud
Be suspicious if you hear
You’ve won a prize or free gift
You’ve been selected to receive a special offer
You must act immediately or lose out
You must pay for shipping your prize or free
gift
Give us your credit card number and
expiration date to verify that you are a credit
cardholder
UW Community 35
Development Education
36. More warning signs of fraud
You’re asked for personal information
You’re asked to donate to an agency
whose name sounds like a well known
charity
You’re one of only a chosen few to
receive this offer
A courier will come to your home to get
your payment
UW Community 36
Development Education
37. Protect your assets
Never
reveal your financial information to
someone who calls you on the phone
allow strangers to come into your home
believe that a stranger will use your
money for a good purpose
assign power of attorney to people you
don’t know very well
sign contracts that have any blank lines
in them
UW Community 37
Development Education
38. What is ID theft?
Criminals use your personal information
to apply for credit or government
benefits
Your name
Your birth date
Your Social Security number
Your address
Your bank account or credit card
numbers
UW Community 38
Development Education
39. What can be done with a false ID?
Open credit cards, buy goods
Take out loans
Get cell phones
Open bank accounts
Seek employment
Open credit accounts
Pay bills
UW Community 39
Development Education
40. What is account fraud?
Unauthorized charges, withdrawals or
new accounts
Crooks use:
Identification
Credit card numbers
Social security numbers
Bank account information
UW Community 40
Development Education
41. It pays to prevent ID theft
Victims spend an average of 600 hours
recovering from ID theft often over a
period of years.
It is estimated that every victim of ID
theft spends $1,400 in out-of-pocket
expenses to clear their names
UW Community 41
Development Education
42. Are you already a victim?
Check your credit report
Look for
Accounts you don’t recognize
Inaccurate information
UW Community 42
Development Education
43. Credit reports
Check your credit reports regularly.
Free credit reports can be obtained
once a year from each of the 3 credit
reporting agencies
Equifax
Experian
TransUnion
UW Community 43
Development Education
45. Free credit reports
Annual Credit Report
www.annualcreditreport.com
(877) 322-8228
Annual Credit Report, Request Service,
PO Box 105281, Atlanta, GA 30348-5281
UW Community 45
Development Education
46. Victims - be watchful
Dispute fraudulent accounts immediately
Close all affected accounts
Follow up your phone call with a written request
Get letters stating disputed accounts have
been closed
Create new passwords for all of your
accounts
Avoid easy-to-guess passwords
UW Community 46
Development Education
47. Social Security number (SSN)
Memorize your Social Security number
(SSN)
Don’t carry your Social Security card
Don’t print your SSN on your driver’s
license or bank checks
Keep all papers listing your SSN hidden or
locked away
Shred all documents with SSNs before you
throw them away
UW Community 47
Development Education
48. Financial information
Check bills, bank and credit card
statements
Report any unauthorized transactions
immediately
Track statements, new credit cards or
check orders in the mail
Call the companies immediately if you
notice
Unauthorized transactions
Missing credit cards or checks
UW Community 48
Development Education
49. Cards and account numbers
Shield ATM keypads when entering
passwords
Memorize your PINs
Watch your cards while they are with
sales clerks or waiters
Lock your own mailbox
Use US post boxes for outgoing mail that
contains account numbers
UW Community 49
Development Education
50. Phone and Internet
Don’t answer callers or e-mails asking
for personal information
Remember, you may be overheard on a
cell phone
Always make sure you are dealing
with reputable companies
UW Community 50
Development Education
51. Marketing
Read your bank’s privacy notice
Stop or ‘opt out’ of pre-screened
credit offers
(888) 5OPT-OUT
UW Community 51
Development Education
52. Monitor your mail
Missed bills, credit card statements,
etc. may signal trouble
UW Community 52
Development Education
53. Always question …
Charges, bills or collection calls that
are not yours
Complain immediately
Denials of credit when you have good
credit
Get a free copy of the credit report used
to make the decision
Check for mistakes or fraud
UW Community 53
Development Education
54. ID theft clean up
Document the crime
File a police report with your local police
department
Get a copy of the police report
Contact appropriate state and federal law
enforcement agencies
Complete a free ID Theft Affidavit from the
FTC
www.ftc.gov/idtheft
UW Community 54
Development Education
55. Password accounts
Place passwords on your credit card,
bank and phone accounts
Don’t use easy-to-guess names and
numbers
Ask businesses not to use SSN or
mother’s maiden name
UW Community 55
Development Education
56. What can you do: General
1. Do not give your telephone calling
card, credit card, or bank account
numbers to strangers by telephone or
mail unless you initiated the order for
goods or services.
2. Do not be pressured by salespeople
into buying NOW.
3. Do not pay to receive a free gift.
4. Shut the door. Hang up the phone.
UW Community 56
Development Education
57. What can you do: Telemarketers
1. Register with the FTC’s Do-Not-Call
Registry (to cut down on
telemarketers) donotcall.gov or (888)
382-1222.
2. Be very careful about sharing personal
financial information.
3. Be skeptical about unsolicited phone
calls, especially about investments.
Say: "Sorry, I do not do business over the phone."
UW Community 57
Development Education
58. What you can do: Investments
1. Ask for information about the
company, price information, and
written estimates from door-to-door
salespeople before doing business
with them.
2. Examine investments carefully.
3. Exercise caution about can’t miss
deals.
UW Community 58
Development Education
59. What you can do: Contractors
1. Ask the contractor for local references. Find out
if other customers were satisfied with the work.
2. Check with the Better Business Bureau for
complaints against the contractor.
3. Demand to review the contractor's business
license and insurance certificate. Refuse to deal
with anyone who will not provide this
information.
4. Do not pay up-front for home repairs. Divide
payments up to ensure you are not left with an
empty bank account by an unethical contractor.
UW Community 59
Development Education
60. Elder Abuse: Background
Often traced to family
members, caregivers and
trusted friends
Adult Protective Services
(APS) agencies report
more cases of financial
abuse than physical
abuse each year
Only 1 of 14 cases of
domestic vulnerable adult
abuse incidences is
reported
UW Community 60
Development Education
61. Elder Abuse Perpetrator Profiles
1. Adult children, grandchildren, or
other relatives
2. Professional or hired caretakers
3. Friends or others in a position of
trust
4. Professional crime groups that target
elders and dependent adults
UW Community 61
Development Education
62. Caretaker crimes
Be alert for caregivers
who try to isolate you from your friends
and family
who ask about your will and investments
who ask to be given power of attorney
who try to dominate or influence you
Tell family members or call adult protective
services
UW Community 62
Development Education
63. Relative and Caregiver Offenders
Methods of financial exploitation include:
Simply taking the victim’s money
Signing or cashing the person’s pension or social
security checks without permission
Forging a signature to cash checks
Deceiving or coercing the victim into signing
checks, documents (will, contract)
Transferring title on, or re-encumbering, real
property
Improper use of conservatorship, guardianship, or
power of attorney.
UW Community 63
Development Education
64. Spot the Warning Signs: Behavior
1. Change in the elder's spending patterns,
such as buying items he or she doesn't
need and can't use.
2. Lack of personal amenities, such as
appropriate clothing and grooming items.
3. The appearance of a stranger who begins
a new close relationship and offers to
manage the elder's finances and assets.
4. Parents suddenly become secretive or
defensive about their finances.
UW Community 64
Development Education
65. Spot the Warning Signs: Banking
1. Numerous unpaid bills when someone else has been
designated to pay the bills.
2. Abrupt or unexplained change in durable power of
attorney
3. Allegations of missing funds from a senior's account
4. Sudden increase in credit card activity or a flurry of
bounced checks
5. Checks written out of their numerical order
6. Financial statements sent to an unauthorized address
7. Signature that seems unusual or suspicious
8. Checks or other documents signed when the elder
cannot write or understand what he or she is signing.
UW Community 65
Development Education
66. Spot the Warning Signs: Other
Junk mail for
contests, free trips,
and sweepstakes
Calls from strangers
offering awards or
moneymaking deals
Cheap items like
costume jewelry or
mini-flashlights
UW Community 66
Development Education
67. Tips to Identifying Family Fraud
1. Monitor your credit card and bank account
activity.
2. Be wary if a distant relative offers to help
you with your finances.
3. If you suspect something, find another
family member you trust to talk to.
Look for . . .
A change in a caregiver’s lifestyle – a grander
lifestyle?
Isolation of an elder by the caregiver.
UW Community 67
Development Education
68. What can you do: Family/Caregivers
1. Arrange for direct deposit of Social Security checks
and other retirement benefits.
2. Carefully choose someone to appoint as power of
attorney and in completing or revising a will.
3. Be careful about permitting family, friends or tenants
to live in your house. Have a written agreement about
expectations of services to be performed or rent paid.
4. Treat home attendants like employees, not friends.
5. Keep valuables hidden if someone comes into the
house on a regular basis.
6. Maintain contact with family, friends, neighbors
and/or your community center. The more active you
are, the less likely you are to be exploited.
UW Community 68
Development Education
69. What can a relative do?
Stay involved, even if it’s over the phone.
Observe what they receive in the mail.
Know who is in their social circle.
Look at financial statements for unusual
activity.
Take a visual inventory of the home and note
changes.
Encourage seniors to complain to the police.
UW Community 69
Development Education
70. What can a relative do? (2)
Talk about common
scams.
Perform background
checks on caregivers.
Take charge.
Create a trust.
Remember: Everyone does stupid things.
UW Community 70
Development Education
71. What to do if your fears are
warranted
Don’t lecture them.
Call the police
You may need a police report to help you
prove that you were a victim
Contact your state and local law
enforcement agencies such as your
district attorney’s office or the
Wyoming Attorney General
UW Community 71
Development Education
72. National Association of Securities
Dealers Findings
Investment fraud victims are more financially literate than non-
victims
Fraud pitches are tailored to match the psychological needs of
the victims
Investment fraud criminals use a variety of tactics, from
friendship to fear and intimidation, to defraud victims
Investment fraud and lottery fraud victims are more likely to
listen to sales pitches than non-victims
Fraud victims often have experienced more difficulties from
negative life events than non-victims
UW Community 72
Development Education
73. Vulnerable Consumers
Assume They Are Experts. Vulnerable
consumers do not seek information about
a subject or "opportunity". They may not
admit their lack of necessary knowledge
or skills.
Do Not Use Common Sense. Vulnerable
consumers let "getting something for
nothing" overtake sound reasoning. They
do not question what sounds too good to
be true. They accept the deal rapidly for
fear they might miss the opportunity.
UW Community 73
Development Education
74. Vulnerable Consumers
Search for Good Health. Vulnerable
consumers let universal desire to be
healthy overtake good judgment. They
believe in false cures for an illness or
chronic condition.
Believe Misleading Ads. Vulnerable
consumers assume publications accept
advertisements from reputable sources
only. They assume information in
advertisements has been verified as true.
UW Community 74
Development Education
75. Vulnerable Consumers
Feel Intimidated. Vulnerable consumers
buy a product or service out of assumed
obligation to the seller. They feel
threatened when they question price or
quality of goods or services.
Do Not Know or Use Their Legal Rights.
Vulnerable consumers do not seek legal
counsel when needed. They often fail to
report being swindled to law enforcement
agencies.
UW Community 75
Development Education
76. If you become a victim...
Call the police
You may need a police report to help you
prove that you were a victim
Contact your state and local law
enforcement agencies such as your
district attorney’s office or the
Wyoming Attorney General
UW Community 76
Development Education
77. Resources
Wyoming Attorney General
AARP
Wyoming Adult Protective Services
Consumer Action
North American Securities Association
National Fraud Information Center
National Association of Attorneys
General
National Consumers League
UW Community 77
Development Education
78. Additional resources
FTC ID Theft Clearinghouse / ID Theft Hotline
US Department of Justice
Federal Bureau of Investigation
Federal Deposit Insurance Corporation
United States Postal Inspection Service
United States Secret Service
UW Community 78
Development Education
79. Non-profit organizations
Consumer Action
www.consumer-action.org
Identity Theft Resource Center
www.idtheftcenter.org
National Fraud Information Center
www.fraud.org
Privacy Rights Clearinghouse
www.privacyrights.org
UW Community 79
Development Education
As reported in The Wyoming Sage, August 2006 Walter Naylor and Sandee Dowlin scammed Cheyenne residents, as well as folks in Nebraska and Colorado. Some victims were farmers in distress, some people with a mistrust of the government. Some lived in a Fort Collins, Colo., nursing home. As part of a “self-liquidating loan” program, the Cheyenne couple charged investors between $10,000 and $15,000, an “application fee” that was to return $1 million to each investor within a few months. Naylor told tales of how he knew Marcos in the Philippines, and how Ferdinand gave him the keys to the kingdom. Naylor told investors he owned gold certificates worth billions from a foundation in the Philippines. And while he was able to hand potential investors $200 billion collateral certificates with fancy gold seals (yes, billion). He also told investors they could only talk to others ‘in the program.’ Naylor told them, ‘If you try to verify this with the government, they’ll try to deny everything.” Sandee Dowlin, who presented herself to investors as a certified public accountant with a major Denver firm. In fact, she and Naylor met when she was working as a waitress. During the 1970s, she served sentences for felony check fraud in Montana. Naylor presented himself as a Christian man, an image sold partially by the fact that he was invited to speak at several church groups. Some victims later testified Naylor’s godly persona was part of the reason they believed him. “He portrayed himself as a religious and charitable man,” Leschuck said. “He presented himself as a philanthropist.” Naylor sold his more idealistic investors on the prospect that they could not only contribute to his good works, but when they became millionaires, go on to finance good works of their own. Other victims succumbed for other reasons. One nursing home investor was confined to a wheelchair. Naylor told Schmohl that when the gold bonds matured, he’d be able to buy himself a special car equipped for a handicapped driver. Naylor convinced another elderly investor to let him use his credit card, Leschuck said. Some monthly bills were $20,000-$30,000. Over the course of a few years, the man loaned Naylor $300,000. Even after Naylor was found guilty, at least one of his investors insisted he was innocent and his investment sound. That kind of loyalty could be guilt or desperation. Characteristics of the pitch: High rate of return Need for secrecy Part of an elite group Presented himself as a Christian and promised to invest in worthy causes (a day care center in the Philippines)
“ Henry” (not his real name) was a successful businessman, married for 30 years, raised a family and lived a good life. He had accumulated a significant nest egg for his retirement. Shortly after his wife’s death, he received a Federal Express package containing very professional, slick materials detailing an investment in oil and gas wells. The next day, a salesman called him and used high pressure sales tactics (social influence) to persuade him to invest $40,000. Some examples: “ These gas wells are guaranteed to produce $6,800 a month in income.” “ Some of the most successful investors in the country are interested in these wells.” “ There are only two units left in this project.” “ We drilled a well in Texas that had these same early gas readings and the investors all made millions.” Henry ultimately lost over $500,000 to this oil and gas scam, investing in wells that always seemed promising at first, but then ran into trouble and were all capped.
Do not give your telephone calling card, credit card, or bank account numbers to strangers by telephone or mail unless you initiated the order for goods or services. Do not be pressured by salespeople into buying NOW . Do not pay for something that is supposedly "free.” Shut the door. Hang the phone.
Register with the FTC’s Do-Not-Call Registry (to cut down on telemarketers) donotcall.gov or (888) 382-1222. Be very careful about sharing personal financial information. Examine investments carefully. Ask questions and think critically about the return, the investment and who is offering it. Don’t be afraid to ask for the credentials of would-be advisors. Exercise caution about can’t miss deals. Read the fine print and remember, if it’s too good to be true . . .
Spring often triggers home improvement scams. Many homeowners' thoughts turn to various projects ranging from roof repairs to house painting. A favorite target for con artists is low-income and elderly homeowners. Using high-pressure tactics, these criminals sell overpriced materials and repairs that are not necessary or they take the money and run, never completing the work. A little extra caution can go a long way in preventing home improvement problems and headaches for you and your family. Take your time in making decisions on contract work for your home.
Often lack the physical and mental capability of caring for themselves Studies by the National Crime Prevention Council show that fraudulent telemarketers direct 56 to 80 percent of their calls to senior citizens, the fastest-growing segment of America's population. Source: RIVER PARISHES PICAYUNE; Pg. 1 “Scammers often target elderly; Sheriff has tips for avoiding fraud” August 21, 2006
Adult children, grandchildren, or other relatives Professional or hired caretakers – writing checks for a little more to cover “extra work” Friends or others in a position of trust Professional crime groups that target elders and dependent adults Source: Elder and Dependent Adult Fraud: A Sampler of Actual Cases to Profile the Offenders and the Crimes They Perpetrate, by Judith B. Sklar, JD, Journal of Elder Abuse & Neglect, Vol. 12(2) 2000 Jewelry, Checks, ATM card Credit card & identity theft Scams and frauds
Caregivers and relatives have a unique position of trust and ongoing relationship with the vulnerable adult. With a power of attorney, a relative or caregiver can make gifts, transfer ownership of a home or borrow money in the senior's name. Power of Attorney Story : Eighty-seven-year-old Elizabeth suspected something was awry when her son told her she couldn't afford to move into an upscale assisted living facility. A few years before, she had given her son durable power of attorney -- a document granting him fiduciary responsibility to make financial decisions on her behalf as long as she is alive. Elizabeth knew she had the money, and when she questioned him about the shortage of funds, he just told her she was wrong. Elizabeth, wary of her son's response, told a friend who contacted Pennsylvania's Adult Protective Services (APS). An investigation by the agency revealed that her son had transferred $225,000 from her account into his own. Fearful of alienating her son, Elizabeth chose not to prosecute. Luckily, he hadn't spent the money and could give it back. Had Elizabeth chosen another person to oversee the account, it may have prevented her son from abusing his trust The most common victims of rip-offs by a caretaker, relative or even a helpful neighbor or repairman are seniors struggling just to stay in their own homes. The process may start rather benignly. An adult child or housekeeper who fills in amounts on checks to pay for a senior's groceries may begin to add on $10, $20 or $50 as compensation for "extra work." The caretaker eventually becomes familiar with the intimate details of the senior's financial life and starts taking larger sums. As the elderly person becomes more frail and helpless, his exploiter feels free to take more and more. Caregiver Story : The case of Frances Reid seems to have followed that pattern. In 1989, deaf and weak, the Riverdale, Ga. widow hired Mildred Addison, 47, to shop for groceries and help with the housework at $5 an hour. Soon after she was hired, Reid's niece Carolyn Smith believes, Addison began using Reid's checkbook to write small amounts to herself. Then as Reid became more and more dependent, the housekeeper grew bolder. At one point Addison impersonated Reid and cashed in certificates of deposit, pocketing large portions herself. After Reid broke her hip and moved to a nursing home, Reid’s daughter took over Reid's finances and discovered irregularities in Reid's bank accounts. A senior does not have to be completely incapacitated to fall prey to fraud, though . Even small erosions in a person's abilities--difficulty in reading, for example--play directly into the hands of con artists in legitimate businesses that want to hustle their customers into a lousy deal. If a person is visually impaired, even partially, someone who has gained his trust may be able to get him to sign a document that is not in his best interest.
Aiding and abetting such weaknesses is the elderly's insufficient grasp of common deceptive practices. For all their experience getting and spending, many seniors are much less vigilant than their children, who got their consumer education from the likes of Ralph Nader. If your parents suddenly become secretive or defensive about their finances, that may be a sign that they've already fallen for a con. Identify the Threats Your parents don't have to lose their life savings in one fell swoop to do lasting damage to their financial security--and, by extension, your family's. In fact, many seniors are nickeled-and-dimed into draining their savings, sending $10 here and $20 there for contests and charities that may not be on the up-and-up. Even a small loss for someone on a fixed income is devastating. While the threats come in many varieties, the most common scams against the elderly fall into three categories: • TELEMARKETING SCAMS More than a third of the victims of telemarketing fraud are over 60 years old, according to the National Fraud Information Center. The most common scams are sweepstakes, free vacation packages, phony charity fund raisers, and expensive 900 numbers that entice people with money-saving tips and low-interest-rate credit cards. • AFFINITY FRAUD Among con artists' favorite targets are members of close-knit religious, political, ethnic or social groups. The conjoins the group and then tries to sell fraudulent investment schemes to members once he or she has gained their trust. In one of the scores of cases in the past few years, a Baptist minister named Ronald K. Randolph promised returns of up to 30% in a Ponzi scheme he pitched to elderly members of churches he joined in several southern states. He was able to bilk churchgoers out of $3.5 million from 1997 through 2000, until he was arrested and convicted on fraud charges. • FREE "INVESTMENT SEMINARS“ Financial planners often lure older people with a lunch or dinner and promise free advice from advisers who "specialize" in senior issues such as living trusts or estate planning. Once there, the senior "specialists" pressure attendees into purchasing dubious investments. Favorites are annuities, viatical statements and promissory notes. While these products are usually legal, many are monumentally bad choices for retirees-illiquid, complicated and booby-trapped with high fees. And even if attendees don't buy anything, they're usually required to provide their contact information. That can land them on the "sucker lists" that marketers sell to con artists looking for potential victims. Other good ways to land on these lists: showing an interest in gambling or filling out entries for sweepstakes.
Source: A Citizen's Guide to Preventing & Reporting Elder Abuse , the California Department of Justice.
Helping manage your parents' money can aid you in noticing trouble early. This is a delicate topic to suggest, but one way to make it easier is to bring up a question or concern you have about your own finances, just to get everyone talking. Failing that kind of access to your parents' financial records, keep alert to other clues. Are your parents getting a lot of junk mail for contests, free trips, and sweepstakes? Are they receiving calls from strangers offering awards or moneymaking deals? That may indicate that they've already ended up on a sucker list Also check around the house. If there are lots of cheap items like costume jewelry or mini-flashlights, they may be purchasing things in order to "win" a contest, one that is a common con-artist lure.
Fraud practiced by family members comes in many forms – the grandson who steals checks and makes them out to “cash”. The daughter who uses power of attorney to apply for an ATM card and then withdraw money without authority. A son taking care of Dad’s finances who uses his father’s credit card for personal purchases. Or more serious and complex ploys. A niece who convinces an elderly aunt to redirect certain assets in the will. Or a nephew that convinces an uncle to put the nephews name on the deed. Look for . . . A change in a caregiver’s lifestyle – a grander lifestyle? A new car? Isolation of an elder by the caregiver. – always an excuse as to why the elder isn’t available?
But the main burden of safeguarding the elderly from fraud belongs to their families, particularly adult children. The task isn't easy, especially when thousands of miles separate generations. Stay involved, even if it’s over the phone. Break the real or perceived isolation. Discuss finances with them, and if possible, help them keep their assets in order. Observe what they receive in the mail. Telemarketers sell names on “sucker lists” and the offers will pile up. Look for sweepstakes literature. Know who is in their social circle. Are their any new names popping – people who have great ideas about investments? Look at financial statements for unusual activity. If access to credit card and bank statements is possible, look for things like large withdrawals for no apparent reason. Take a visual inventory of the home and note changes. Is anything missing (that could have been stolen or sold)? Are there new things, especially the cheap sort of items that might be sweepstakes prizes or telemarketing schemes? Encourage seniors to complain to the police. Gambling Sister Story: Molly, 68, who was admitted to a New York hospital with renal failure. She gave the durable power of attorney to one of her sisters, who proceeded to empty Molly's account of nearly $50,000 and gamble away the money in Atlantic City. Molly pulled through her illness and discovered the missing funds. She reported the loss to the police, who investigated and turned over evidence an assistant district attorney in charge of the Elder Abuse Program in Manhattan, NY. The sister was prosecuted and had to return the money. To prevent such abuse, hire a lawyer to customize the document. Make sure it explicitly states what bills and other financial transactions you want the agent to handle. Even a well-drafted power of attorney is not foolproof. To add additional protection, assign a third-party, preferably a lawyer or other nonfamily member, to review all spending and monthly financial statements. That oversight would have gone a long way to prevent the fraud in the case of Molly with her sister.
Talk about common scams One of the easiest--and most effective--ways to protect your parents is to learn about the most common kinds of senior scams and talk to your folks about them. Tell them it's important they know what's happening--if for no other reason than to warn their friends or other relatives. Take charge. If your parent’s are truly failing and seem to be losing a grip on their finances, then you may have to take charge. Accounts that require two signatures for sizable transactions might be one option. Or have a copy of the finance statement sent to you so you can review transactions. Create a trust for your parents. Typical setup costs run between $1,000 and $3,000. Having an outside party review the actions of the trustee will help cut down the chances of abuse in management and distribution of the trust assets. Background checks on caregivers. Ann, a homebound Manhattan 98-year-old, had her health aide move in to help with personal care and eventually pay bills. By the time her children noticed the aide had been double-paying herself, more than $50,000 had been drained from Ann's account. This case is a good reminder to do a background check on caregivers. Employment agencies aren't required to do them on home health aides. But even if your agency does one, complete your own as well. Remember, though: everyone does stupid things now and then. Allow your parents to be as foolish as you are. But if they don’t learn from their mistakes, then the loses will likely grow.
What to do if your fears are warranted If it appears that one of your parents has gotten involved in a scheme, the worst thing you can do is to lecture them. Saying 'I can't believe you fell for this' will not only put an emotional wedge between you and them, it could cause them to start withholding information. Victims already feel very embarrassed and defensive about being caught up in this crime. Instead of judging or getting upset, ask conversationally about the things that worry you. Find out more about how they got that piece of jewelry, say, or what was said at that free lunch. Remember that it may take a while to get some useful information--your parents may be in denial. People don't want to believe they've been scammed. Again, you don't want to make anyone feel incompetent, but even simple tasks such as looking over their phone bills or financial statements can alert you to large ATM withdrawals or expensive calls to 900 numbers. If you think your parents are victims, contact your local police or Better Business Bureau, the Wyoming attorney general, the FTC, the U.S. Postal Inspection Service, or the National Fraud Information Center .
If you think you've been a victim, contact your local police or Better Business Bureau, the Wyoming attorney general, the FTC, the U.S. Postal Inspection Service, or the National Fraud Information Center .
Wyoming Attorney General AARP Wyoming Adult Protective Services Consumer Action: provides non-legal advice and referrals on consumer problems Web site: www.consumer-action.org Hotline: 415-777-9635 TTY: 415-777-9456 E-mail: hotline@consumer-action.org North American Securities Association National Fraud Information Center National Association of Attorneys General National Consumers League Public Education Materials on E-Fraud DOJ Special Report on Phishing (2004) - http://www.usdoj.gov/criminal/fraud/Phishing.pdf FTC Identity Theft Website – http://www.consumer.gov/idtheft