SlideShare a Scribd company logo
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.
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
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
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
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
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
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
Grammar




A phishing email. . .
– preys on fears
– nothing is safe



        Spelling




                        The University of Wyoming is an             8
                         equal opportunity/affirmative
                               action institution.
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Are you already a victim?
   Check your credit report
   Look for
       Accounts you don’t recognize
       Inaccurate information




                 UW Community            42
                 Development Education
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
Credit reporting agencies
   Equifax, 800-525-6285,
    www.equifax.com
   Experian, 888-397-3742,
    www.experian.com
   TransUnion, 800-680-7289,
    www.transunion.com



             UW Community            44
             Development Education
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
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
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
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
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
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
Marketing
   Read your bank’s privacy notice
   Stop or ‘opt out’ of pre-screened
    credit offers
       (888) 5OPT-OUT




               UW Community            51
               Development Education
Monitor your mail
   Missed bills, credit card statements,
    etc. may signal trouble




               UW Community            52
               Development Education
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Questions?




The University of Wyoming is an   80
 equal opportunity/affirmative
       action institution.

More Related Content

What's hot

Fraud Management ppt.pptx
Fraud Management ppt.pptxFraud Management ppt.pptx
Fraud Management ppt.pptx
jaramulat
 
Fraud Investigation
Fraud InvestigationFraud Investigation
Fraud Investigation
Salih Islam
 
Fraud Investigation Process And Procedures
Fraud Investigation Process And ProceduresFraud Investigation Process And Procedures
Fraud Investigation Process And Procedures
Veriti Consulting LLC
 
Fraud Risk and Control
Fraud Risk and ControlFraud Risk and Control
Fraud Risk and Control
WeaverCPAs
 
Fraud risk management
Fraud risk managementFraud risk management
Fraud risk management
EMAC Consulting Group
 
Anti fraud program
Anti fraud programAnti fraud program
Anti fraud program
chris75308
 
Fraud risk management and interrogation techniques part ii
Fraud risk management and interrogation techniques part iiFraud risk management and interrogation techniques part ii
Fraud risk management and interrogation techniques part ii
EMAC Consulting Group
 
Fraud Risk Assessment
Fraud Risk AssessmentFraud Risk Assessment
Fraud Risk Assessment
Tahir Abbas
 
The Fraud Diamond
The Fraud DiamondThe Fraud Diamond
The Fraud Diamond
Ashraf Zabidi
 
Security Management Practices
Security Management PracticesSecurity Management Practices
Security Management Practices
amiable_indian
 
2016 - Fraud Detection & Prevention with Internal Controls (Updated for 2016 ...
2016 - Fraud Detection & Prevention with Internal Controls (Updated for 2016 ...2016 - Fraud Detection & Prevention with Internal Controls (Updated for 2016 ...
2016 - Fraud Detection & Prevention with Internal Controls (Updated for 2016 ...
Ron Steinkamp
 
Corruption
CorruptionCorruption
Corruption
Don Menzel
 
Chapter 8 financial compliance programme
Chapter 8   financial compliance programmeChapter 8   financial compliance programme
Chapter 8 financial compliance programme
Quan Risk
 
History of Law Enforcement
History of Law EnforcementHistory of Law Enforcement
History of Law Enforcement
Scott Bernstein
 
Fraud investigations session 1 slides
Fraud investigations session 1 slidesFraud investigations session 1 slides
Fraud investigations session 1 slides
Zeeshan Shahid
 
Coso internal control integrated framework
Coso internal control   integrated frameworkCoso internal control   integrated framework
Coso internal control integrated framework
Irfan Ahmed - ACA, CICA
 
Fraud principles1
Fraud principles1Fraud principles1
Fraud principles1
Sevisa Isufaj
 
Who Commits Fraud
Who Commits Fraud   Who Commits Fraud
Fraud and Internal Controls: A Forensic Accountant's Perspective - Bill Acuff
Fraud and Internal Controls: A Forensic Accountant's Perspective - Bill AcuffFraud and Internal Controls: A Forensic Accountant's Perspective - Bill Acuff
Fraud and Internal Controls: A Forensic Accountant's Perspective - Bill Acuff
DecosimoCPAs
 
7 keys to fraud prevention
7 keys to fraud prevention7 keys to fraud prevention
7 keys to fraud prevention
Ron Steinkamp
 

What's hot (20)

Fraud Management ppt.pptx
Fraud Management ppt.pptxFraud Management ppt.pptx
Fraud Management ppt.pptx
 
Fraud Investigation
Fraud InvestigationFraud Investigation
Fraud Investigation
 
Fraud Investigation Process And Procedures
Fraud Investigation Process And ProceduresFraud Investigation Process And Procedures
Fraud Investigation Process And Procedures
 
Fraud Risk and Control
Fraud Risk and ControlFraud Risk and Control
Fraud Risk and Control
 
Fraud risk management
Fraud risk managementFraud risk management
Fraud risk management
 
Anti fraud program
Anti fraud programAnti fraud program
Anti fraud program
 
Fraud risk management and interrogation techniques part ii
Fraud risk management and interrogation techniques part iiFraud risk management and interrogation techniques part ii
Fraud risk management and interrogation techniques part ii
 
Fraud Risk Assessment
Fraud Risk AssessmentFraud Risk Assessment
Fraud Risk Assessment
 
The Fraud Diamond
The Fraud DiamondThe Fraud Diamond
The Fraud Diamond
 
Security Management Practices
Security Management PracticesSecurity Management Practices
Security Management Practices
 
2016 - Fraud Detection & Prevention with Internal Controls (Updated for 2016 ...
2016 - Fraud Detection & Prevention with Internal Controls (Updated for 2016 ...2016 - Fraud Detection & Prevention with Internal Controls (Updated for 2016 ...
2016 - Fraud Detection & Prevention with Internal Controls (Updated for 2016 ...
 
Corruption
CorruptionCorruption
Corruption
 
Chapter 8 financial compliance programme
Chapter 8   financial compliance programmeChapter 8   financial compliance programme
Chapter 8 financial compliance programme
 
History of Law Enforcement
History of Law EnforcementHistory of Law Enforcement
History of Law Enforcement
 
Fraud investigations session 1 slides
Fraud investigations session 1 slidesFraud investigations session 1 slides
Fraud investigations session 1 slides
 
Coso internal control integrated framework
Coso internal control   integrated frameworkCoso internal control   integrated framework
Coso internal control integrated framework
 
Fraud principles1
Fraud principles1Fraud principles1
Fraud principles1
 
Who Commits Fraud
Who Commits Fraud   Who Commits Fraud
Who Commits Fraud
 
Fraud and Internal Controls: A Forensic Accountant's Perspective - Bill Acuff
Fraud and Internal Controls: A Forensic Accountant's Perspective - Bill AcuffFraud and Internal Controls: A Forensic Accountant's Perspective - Bill Acuff
Fraud and Internal Controls: A Forensic Accountant's Perspective - Bill Acuff
 
7 keys to fraud prevention
7 keys to fraud prevention7 keys to fraud prevention
7 keys to fraud prevention
 

Similar to Consumer Fraud

Senior scams
Senior scamsSenior scams
Senior scams
Mikael Wagner
 
Elder Fraud - Preventing Senior Scams
Elder Fraud - Preventing Senior ScamsElder Fraud - Preventing Senior Scams
Elder Fraud - Preventing Senior Scams
- Mark - Fullbright
 
ID Theft
ID TheftID Theft
ID Theft
Bill Taylor
 
Senior Scams - Just say no!
Senior Scams - Just say no!Senior Scams - Just say no!
Senior Scams - Just say no!
- Mark - Fullbright
 
Identity Theft
Identity TheftIdentity Theft
Identity Theft
Blinsink
 
Consumer fraud - Just Say No!
Consumer fraud - Just Say No!Consumer fraud - Just Say No!
Consumer fraud - Just Say No!
American Debt Counseling Inc
 
Monitor Your Credit Report
Monitor Your Credit  ReportMonitor Your Credit  Report
Monitor Your Credit Report
EXIT Hawaii Dream Realty
 
Identity Theft Overview Webinar
Identity Theft Overview WebinarIdentity Theft Overview Webinar
Identity Theft Overview Webinar
Community Legal Education Ontario (CLEO)
 
2011 Fraud Fighter Presentation Illinois
2011 Fraud Fighter Presentation Illinois2011 Fraud Fighter Presentation Illinois
2011 Fraud Fighter Presentation Illinois
AARP Illinois
 
Identity Theft: How to Reduce Your Risk
Identity Theft: How to Reduce Your RiskIdentity Theft: How to Reduce Your Risk
Identity Theft: How to Reduce Your Risk
milfamln
 
Per.fin.7.03 p ptb
Per.fin.7.03 p ptbPer.fin.7.03 p ptb
Per.fin.7.03 p ptb
DudleyDoright
 
cian A lottery scam
cian A lottery scamcian A lottery scam
cian A lottery scam
pussyclaat
 
Scams 0710
Scams 0710Scams 0710
Scams 0710
KEIRO2
 
Id theft-phishing-research
Id theft-phishing-researchId theft-phishing-research
Id theft-phishing-research
Justin Saunders
 
AARP Fraud Fighter 2009
AARP Fraud Fighter 2009AARP Fraud Fighter 2009
AARP Fraud Fighter 2009
Mary Volmer
 
Resolving Consumer Identity Theft for Foster Youth 2013 Edition
Resolving Consumer Identity Theft for Foster Youth 2013 EditionResolving Consumer Identity Theft for Foster Youth 2013 Edition
Resolving Consumer Identity Theft for Foster Youth 2013 Edition
- Mark - Fullbright
 
Informed Investor: Peer-to-Peer Lending
Informed Investor: Peer-to-Peer LendingInformed Investor: Peer-to-Peer Lending
Informed Investor: Peer-to-Peer Lending
INInvestWatch
 
Top 10 Scams Targeting Seniors
Top 10 Scams Targeting SeniorsTop 10 Scams Targeting Seniors
Top 10 Scams Targeting Seniors
- Mark - Fullbright
 
Identity Theft article_Good Neighbor magazine
Identity Theft article_Good Neighbor magazineIdentity Theft article_Good Neighbor magazine
Identity Theft article_Good Neighbor magazine
Kristi Valentini
 
Identity Theft Presentation
Identity Theft PresentationIdentity Theft Presentation
Identity Theft Presentation
Randall Chesnutt
 

Similar to Consumer Fraud (20)

Senior scams
Senior scamsSenior scams
Senior scams
 
Elder Fraud - Preventing Senior Scams
Elder Fraud - Preventing Senior ScamsElder Fraud - Preventing Senior Scams
Elder Fraud - Preventing Senior Scams
 
ID Theft
ID TheftID Theft
ID Theft
 
Senior Scams - Just say no!
Senior Scams - Just say no!Senior Scams - Just say no!
Senior Scams - Just say no!
 
Identity Theft
Identity TheftIdentity Theft
Identity Theft
 
Consumer fraud - Just Say No!
Consumer fraud - Just Say No!Consumer fraud - Just Say No!
Consumer fraud - Just Say No!
 
Monitor Your Credit Report
Monitor Your Credit  ReportMonitor Your Credit  Report
Monitor Your Credit Report
 
Identity Theft Overview Webinar
Identity Theft Overview WebinarIdentity Theft Overview Webinar
Identity Theft Overview Webinar
 
2011 Fraud Fighter Presentation Illinois
2011 Fraud Fighter Presentation Illinois2011 Fraud Fighter Presentation Illinois
2011 Fraud Fighter Presentation Illinois
 
Identity Theft: How to Reduce Your Risk
Identity Theft: How to Reduce Your RiskIdentity Theft: How to Reduce Your Risk
Identity Theft: How to Reduce Your Risk
 
Per.fin.7.03 p ptb
Per.fin.7.03 p ptbPer.fin.7.03 p ptb
Per.fin.7.03 p ptb
 
cian A lottery scam
cian A lottery scamcian A lottery scam
cian A lottery scam
 
Scams 0710
Scams 0710Scams 0710
Scams 0710
 
Id theft-phishing-research
Id theft-phishing-researchId theft-phishing-research
Id theft-phishing-research
 
AARP Fraud Fighter 2009
AARP Fraud Fighter 2009AARP Fraud Fighter 2009
AARP Fraud Fighter 2009
 
Resolving Consumer Identity Theft for Foster Youth 2013 Edition
Resolving Consumer Identity Theft for Foster Youth 2013 EditionResolving Consumer Identity Theft for Foster Youth 2013 Edition
Resolving Consumer Identity Theft for Foster Youth 2013 Edition
 
Informed Investor: Peer-to-Peer Lending
Informed Investor: Peer-to-Peer LendingInformed Investor: Peer-to-Peer Lending
Informed Investor: Peer-to-Peer Lending
 
Top 10 Scams Targeting Seniors
Top 10 Scams Targeting SeniorsTop 10 Scams Targeting Seniors
Top 10 Scams Targeting Seniors
 
Identity Theft article_Good Neighbor magazine
Identity Theft article_Good Neighbor magazineIdentity Theft article_Good Neighbor magazine
Identity Theft article_Good Neighbor magazine
 
Identity Theft Presentation
Identity Theft PresentationIdentity Theft Presentation
Identity Theft Presentation
 

More from Bill Taylor

Board Evaluation
Board EvaluationBoard Evaluation
Board Evaluation
Bill Taylor
 
Better Bylaws
Better BylawsBetter Bylaws
Better Bylaws
Bill Taylor
 
Elder Finances
Elder FinancesElder Finances
Elder Finances
Bill Taylor
 
Spending in the Dark
Spending in the DarkSpending in the Dark
Spending in the Dark
Bill Taylor
 
Transfering Personal Property
Transfering Personal PropertyTransfering Personal Property
Transfering Personal Property
Bill Taylor
 
After a Death
After a DeathAfter a Death
After a Death
Bill Taylor
 
Introduction to Estate Planning
Introduction to Estate PlanningIntroduction to Estate Planning
Introduction to Estate Planning
Bill Taylor
 
Kids and summer jobs
Kids and summer jobsKids and summer jobs
Kids and summer jobs
Bill Taylor
 
Choosing your personal representative
Choosing your personal representativeChoosing your personal representative
Choosing your personal representative
Bill Taylor
 
Where are you going?
Where are you going?Where are you going?
Where are you going?
Bill Taylor
 
Strong facilitation
Strong facilitationStrong facilitation
Strong facilitation
Bill Taylor
 
Strategic planning
Strategic planningStrategic planning
Strategic planning
Bill Taylor
 
Choosing Your Estate Personal Representative
Choosing Your Estate Personal RepresentativeChoosing Your Estate Personal Representative
Choosing Your Estate Personal Representative
Bill Taylor
 
Difficult Conversations
Difficult ConversationsDifficult Conversations
Difficult Conversations
Bill Taylor
 
Wyoming Open Meetings Law
Wyoming Open Meetings LawWyoming Open Meetings Law
Wyoming Open Meetings Law
Bill Taylor
 
Board Recruitment and Diversity
Board Recruitment and DiversityBoard Recruitment and Diversity
Board Recruitment and Diversity
Bill Taylor
 
Conflict Management
Conflict  ManagementConflict  Management
Conflict Management
Bill Taylor
 
Water Wise Gardening
Water Wise GardeningWater Wise Gardening
Water Wise Gardening
Bill Taylor
 
Turf Management
Turf ManagementTurf Management
Turf Management
Bill Taylor
 
Garden Prep/Planting
Garden Prep/PlantingGarden Prep/Planting
Garden Prep/Planting
Bill Taylor
 

More from Bill Taylor (20)

Board Evaluation
Board EvaluationBoard Evaluation
Board Evaluation
 
Better Bylaws
Better BylawsBetter Bylaws
Better Bylaws
 
Elder Finances
Elder FinancesElder Finances
Elder Finances
 
Spending in the Dark
Spending in the DarkSpending in the Dark
Spending in the Dark
 
Transfering Personal Property
Transfering Personal PropertyTransfering Personal Property
Transfering Personal Property
 
After a Death
After a DeathAfter a Death
After a Death
 
Introduction to Estate Planning
Introduction to Estate PlanningIntroduction to Estate Planning
Introduction to Estate Planning
 
Kids and summer jobs
Kids and summer jobsKids and summer jobs
Kids and summer jobs
 
Choosing your personal representative
Choosing your personal representativeChoosing your personal representative
Choosing your personal representative
 
Where are you going?
Where are you going?Where are you going?
Where are you going?
 
Strong facilitation
Strong facilitationStrong facilitation
Strong facilitation
 
Strategic planning
Strategic planningStrategic planning
Strategic planning
 
Choosing Your Estate Personal Representative
Choosing Your Estate Personal RepresentativeChoosing Your Estate Personal Representative
Choosing Your Estate Personal Representative
 
Difficult Conversations
Difficult ConversationsDifficult Conversations
Difficult Conversations
 
Wyoming Open Meetings Law
Wyoming Open Meetings LawWyoming Open Meetings Law
Wyoming Open Meetings Law
 
Board Recruitment and Diversity
Board Recruitment and DiversityBoard Recruitment and Diversity
Board Recruitment and Diversity
 
Conflict Management
Conflict  ManagementConflict  Management
Conflict Management
 
Water Wise Gardening
Water Wise GardeningWater Wise Gardening
Water Wise Gardening
 
Turf Management
Turf ManagementTurf Management
Turf Management
 
Garden Prep/Planting
Garden Prep/PlantingGarden Prep/Planting
Garden Prep/Planting
 

Recently uploaded

WAM Corporate Presentation July 2024.pdf
WAM Corporate Presentation July 2024.pdfWAM Corporate Presentation July 2024.pdf
WAM Corporate Presentation July 2024.pdf
Western Alaska Minerals Corp.
 
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
emmanuelpulido003
 
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in CityGirls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
maigasapphire
 
You Get Me! Leveraging Communication Styles in Virtual Trainingpptx
You Get Me! Leveraging Communication Styles in Virtual TrainingpptxYou Get Me! Leveraging Communication Styles in Virtual Trainingpptx
You Get Me! Leveraging Communication Styles in Virtual Trainingpptx
Cynthia Clay
 
TALENT ACQUISITION AND MANAGEMENT LECTURE 5
TALENT ACQUISITION AND MANAGEMENT LECTURE 5TALENT ACQUISITION AND MANAGEMENT LECTURE 5
TALENT ACQUISITION AND MANAGEMENT LECTURE 5
projectseasy
 
STEPIC Innovations 2026 futurism publications
STEPIC Innovations 2026 futurism publicationsSTEPIC Innovations 2026 futurism publications
STEPIC Innovations 2026 futurism publications
mcynthus
 
Growth Buyouts - The Dawn of the GBO (Slow Ventures)
Growth Buyouts - The  Dawn of the GBO (Slow Ventures)Growth Buyouts - The  Dawn of the GBO (Slow Ventures)
Growth Buyouts - The Dawn of the GBO (Slow Ventures)
Razin Mustafiz
 
PETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAA
PETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAAPETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAA
PETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAA
lawrenceads01
 
Patrick Dwyer Merrill Lynch - Founder of the Dwyer Family Foundation
Patrick Dwyer Merrill Lynch - Founder of the Dwyer Family FoundationPatrick Dwyer Merrill Lynch - Founder of the Dwyer Family Foundation
Patrick Dwyer Merrill Lynch - Founder of the Dwyer Family Foundation
Patrick Dwyer Merrill Lynch
 
Zodiac Signs and Fashion: Dressing to Suit Your Astrological Style
Zodiac Signs and Fashion: Dressing to Suit Your Astrological StyleZodiac Signs and Fashion: Dressing to Suit Your Astrological Style
Zodiac Signs and Fashion: Dressing to Suit Your Astrological Style
my Pandit
 
TALENT ACQUISITION AND MANAGEMENT LECTURE 2
TALENT ACQUISITION AND MANAGEMENT LECTURE 2TALENT ACQUISITION AND MANAGEMENT LECTURE 2
TALENT ACQUISITION AND MANAGEMENT LECTURE 2
projectseasy
 
AI at Work​ The demystification of AI and real-world stories on how to apply ...
AI at Work​ The demystification of AI and real-world stories on how to apply ...AI at Work​ The demystification of AI and real-world stories on how to apply ...
AI at Work​ The demystification of AI and real-world stories on how to apply ...
Auxis Consulting & Outsourcing
 
Satta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatkaSatta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatka
➑➌➋➑➒➎➑➑➊➍
 
PETAVIT MICHAEL TAY.pdfAAAAAAAAAAAAAAAAAAAA
PETAVIT MICHAEL TAY.pdfAAAAAAAAAAAAAAAAAAAAPETAVIT MICHAEL TAY.pdfAAAAAAAAAAAAAAAAAAAA
PETAVIT MICHAEL TAY.pdfAAAAAAAAAAAAAAAAAAAA
lawrenceads01
 
A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024
Dubiz
 
Green Minimalist Aesthetic Project Proposal Presentation.pdf
Green Minimalist Aesthetic Project Proposal Presentation.pdfGreen Minimalist Aesthetic Project Proposal Presentation.pdf
Green Minimalist Aesthetic Project Proposal Presentation.pdf
shivamkush646
 
Mandated reporting powerpoint to help with understanding your role
Mandated reporting powerpoint to help with understanding your roleMandated reporting powerpoint to help with understanding your role
Mandated reporting powerpoint to help with understanding your role
khidalgo2
 
Anton Grutzmache- Ominisient: The Data Revolution in Banking: From Scoring Cr...
Anton Grutzmache- Ominisient: The Data Revolution in Banking: From Scoring Cr...Anton Grutzmache- Ominisient: The Data Revolution in Banking: From Scoring Cr...
Anton Grutzmache- Ominisient: The Data Revolution in Banking: From Scoring Cr...
itnewsafrica
 
Top Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdfTop Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdf
Top IT Marketing
 
MEA Union Budget 2024-25 Final Presentation
MEA Union Budget 2024-25 Final PresentationMEA Union Budget 2024-25 Final Presentation
MEA Union Budget 2024-25 Final Presentation
PhysicsUtu
 

Recently uploaded (20)

WAM Corporate Presentation July 2024.pdf
WAM Corporate Presentation July 2024.pdfWAM Corporate Presentation July 2024.pdf
WAM Corporate Presentation July 2024.pdf
 
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
 
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in CityGirls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
 
You Get Me! Leveraging Communication Styles in Virtual Trainingpptx
You Get Me! Leveraging Communication Styles in Virtual TrainingpptxYou Get Me! Leveraging Communication Styles in Virtual Trainingpptx
You Get Me! Leveraging Communication Styles in Virtual Trainingpptx
 
TALENT ACQUISITION AND MANAGEMENT LECTURE 5
TALENT ACQUISITION AND MANAGEMENT LECTURE 5TALENT ACQUISITION AND MANAGEMENT LECTURE 5
TALENT ACQUISITION AND MANAGEMENT LECTURE 5
 
STEPIC Innovations 2026 futurism publications
STEPIC Innovations 2026 futurism publicationsSTEPIC Innovations 2026 futurism publications
STEPIC Innovations 2026 futurism publications
 
Growth Buyouts - The Dawn of the GBO (Slow Ventures)
Growth Buyouts - The  Dawn of the GBO (Slow Ventures)Growth Buyouts - The  Dawn of the GBO (Slow Ventures)
Growth Buyouts - The Dawn of the GBO (Slow Ventures)
 
PETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAA
PETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAAPETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAA
PETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAA
 
Patrick Dwyer Merrill Lynch - Founder of the Dwyer Family Foundation
Patrick Dwyer Merrill Lynch - Founder of the Dwyer Family FoundationPatrick Dwyer Merrill Lynch - Founder of the Dwyer Family Foundation
Patrick Dwyer Merrill Lynch - Founder of the Dwyer Family Foundation
 
Zodiac Signs and Fashion: Dressing to Suit Your Astrological Style
Zodiac Signs and Fashion: Dressing to Suit Your Astrological StyleZodiac Signs and Fashion: Dressing to Suit Your Astrological Style
Zodiac Signs and Fashion: Dressing to Suit Your Astrological Style
 
TALENT ACQUISITION AND MANAGEMENT LECTURE 2
TALENT ACQUISITION AND MANAGEMENT LECTURE 2TALENT ACQUISITION AND MANAGEMENT LECTURE 2
TALENT ACQUISITION AND MANAGEMENT LECTURE 2
 
AI at Work​ The demystification of AI and real-world stories on how to apply ...
AI at Work​ The demystification of AI and real-world stories on how to apply ...AI at Work​ The demystification of AI and real-world stories on how to apply ...
AI at Work​ The demystification of AI and real-world stories on how to apply ...
 
Satta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatkaSatta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatka
 
PETAVIT MICHAEL TAY.pdfAAAAAAAAAAAAAAAAAAAA
PETAVIT MICHAEL TAY.pdfAAAAAAAAAAAAAAAAAAAAPETAVIT MICHAEL TAY.pdfAAAAAAAAAAAAAAAAAAAA
PETAVIT MICHAEL TAY.pdfAAAAAAAAAAAAAAAAAAAA
 
A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024
 
Green Minimalist Aesthetic Project Proposal Presentation.pdf
Green Minimalist Aesthetic Project Proposal Presentation.pdfGreen Minimalist Aesthetic Project Proposal Presentation.pdf
Green Minimalist Aesthetic Project Proposal Presentation.pdf
 
Mandated reporting powerpoint to help with understanding your role
Mandated reporting powerpoint to help with understanding your roleMandated reporting powerpoint to help with understanding your role
Mandated reporting powerpoint to help with understanding your role
 
Anton Grutzmache- Ominisient: The Data Revolution in Banking: From Scoring Cr...
Anton Grutzmache- Ominisient: The Data Revolution in Banking: From Scoring Cr...Anton Grutzmache- Ominisient: The Data Revolution in Banking: From Scoring Cr...
Anton Grutzmache- Ominisient: The Data Revolution in Banking: From Scoring Cr...
 
Top Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdfTop Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdf
 
MEA Union Budget 2024-25 Final Presentation
MEA Union Budget 2024-25 Final PresentationMEA Union Budget 2024-25 Final Presentation
MEA Union Budget 2024-25 Final Presentation
 

Consumer Fraud

  • 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
  • 44. Credit reporting agencies  Equifax, 800-525-6285, www.equifax.com  Experian, 888-397-3742, www.experian.com  TransUnion, 800-680-7289, www.transunion.com UW Community 44 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
  • 80. Questions? The University of Wyoming is an 80 equal opportunity/affirmative action institution.

Editor's Notes

  1. 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)
  2. “ 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.
  3. 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.
  4. 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 . . .
  5. 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.
  6. 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
  7. 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
  8. 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.
  9. 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.
  10. Source: A Citizen's Guide to Preventing & Reporting Elder Abuse , the California Department of Justice.
  11. 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.
  12. 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?
  13. 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.
  14. 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.
  15. 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 .
  16. 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 .
  17. 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