Fraud Awareness
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Increase our individual Fraud Awareness to recognize: 1. Enticing Offers 2. Bank Contacts 3. Threatening Contacts 4. Facebook Scams 5. Computer-related Contacts
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Fraud Awareness
- 1. Fraud Awareness Fraud Awareness <Organization Name> <Date> 1
- 2. Fraud Awareness Yogi Schulz Biography Partner in Corvelle Consulting Information technology related management consulting Microsoft Canada columnist & CBC Radio host PPDM Association board member Industry presenter: – Project World - 6 years – CIPS Informatics - 7 years – PMI - Information Systems SIG - 2 years – PPDM Association - several years 2
- 3. Fraud Awareness Presentation Outline Fraud statistics Learning objectives Types of fraud: – Enticing offers – Bank contacts – Threatening contacts – Facebook scams – Computer-related contacts Recommendations & actions 3
- 4. Fraud Awareness Nigerian Scam 4 Sweet; some guy in Nigeria has $2 billion he wants to transfer to my bank account. All I have to do is provide him with my personal banking information!
- 5. Fraud Awareness Growth in Fraud vs. Growth in Charge Volume 5 +20% +7%
- 6. Fraud Awareness USA Identity Theft Fraud Victims and Fraud Losses 6 $16B 12.7M
- 7. Fraud Awareness Global Cost of Payment Card Fraud 7 $6.8B $7.1B USA Rest of World
- 8. Fraud Awareness Fraud Losses Debit and Credit Cards 8 $9B $53M USA Canada
- 9. Fraud Awareness Learning Objectives Increase our awareness of possible fraud Help others to be more fraud alert Avoid panicking anyone 9 My items did not arrive and I received no reply!
- 10. Fraud Awareness How Well are Consumers Protecting themselves from Fraud? 10
- 11. Fraud Awareness Enticing Offers You can earn a lot of money working from home; provide some personal information You’ve won a lottery prize; send us your account number A long-lost relative has died leaving you a major inheritance; pay a fee to release funds Help us transfer money from our country to your bank account; you’ll receive a share 11
- 13. Fraud Awareness Enticing Offer Scam 13
- 14. Fraud Awareness Bank Contacts I want to verify your account number I want to make an appointment for you to visit with our staff We notice an unusual transaction on your chequing account I want to explain our RSP offerings to you I want to confirm your pin number 14
- 17. Fraud Awareness Threatening Contacts You haven’t paid your property taxes; we’ll foreclose unless you send us a payment We grabbed your daughter at the bus stop; we’ll send you her finger unless you pay us This is CRA; we haven’t received your tax payment; we’ll garnishee your wages You’re over your VISA card limit; send us a payment or we’ll ruin your credit rating 17
- 20. Fraud Awareness Facebook Scams Have you logged into what appeared to be a Facebook home page? 20
- 21. Fraud Awareness Facebook Scams Have you clicked on a Like that caused another page to be displayed? 21
- 22. Fraud Awareness Facebook Scams Have you installed a Facebook widget that spammed all your friends? 22
- 25. Fraud Awareness Computer-related Contacts Your computer has been hit with a virus; let me access it remotely to repair it Please let me explain our computer monitoring and repair service We’ve blocked access to your computer; for a fee we’ll restore your access Your computer is sending spam everywhere; for a fee we’ll stop this activity 25
- 27. Fraud Awareness Fake Anti-virus Scam 27
- 28. Fraud Awareness Recommendations to avoid Fraud Trust your instincts Read your emails carefully Be careful where you click Review your bank statement monthly Review your credit card statement monthly Verify what someone on the phone claims Don’t believe an alleged threat 28
- 29. Fraud Awareness Suggested Actions Keep your computer software up-to-date Create a backup of your data Keep a written userid and password file Create file folders for your monthly statements Address indications of identity theft Report fraudsters 29 Press 1 to be ripped off, 2 to be robbed or 3 to be bankrupted.
- 30. Fraud Awareness Discussion 30 Request presentation file by emailing: YogiSchulz@corvelle.com
- 31. Fraud Awareness Handling Phone Solicitations Don't believe everyone who calls Don't disclose personal information Don't be afraid to hang up Don't be afraid to ask for documentation Don't be pressured into making a decision Do take the time to call a friend, relative, or police Do call the police to report any suspicious phone calls Do ask the caller questions Do ask for literature Do ask the company for references 31
- 32. Fraud Awareness Bibliography - 1 Beware Of These Telephone Scams – By Louie G January 15, 2016 – http://wild104fm.com/beware-of-these-telephone-scams/ 5 tips to shop safe and avoid online identity theft – 9 Feb 2014 by Sesame – http://www.vivawoman.net/2014/02/5-tips-to-shop-safe-and-avoid- online-identity-theft/ 5 Ways Cyber-Criminals Are Trying to Steal From You – And What To Do About It – https://www.brighttalk.com/webcast/15037/252865 Has your iPhone been hacked? – Yogi Schulz, January 11, 2017 – http://www.itworldcanada.com/blog/has-your-iphone-been- hacked/389507 32
- 33. Fraud Awareness Bibliography - 2 How big of a problem is fraud? – Vantiv’s “ShopTalkTM” report reveals new fraud statistics – https://www.vantiv.com/about/newsroom/shop-talk-infographic How to avoid seven of the most common online scams – Jacob Siegal, July 16th, 2015 – http://bgr.com/2015/07/16/how-to-avoid-online-scams/ Increasing cyber incidents could mean ‘tragedy’ for online trust: Industry group – Howard Solomon, February 5th, 2017 – http://www.itworldcanada.com/article/increasing-cyber-incidents-could- mean-tragedy-for-online-trust-industry-group/390191 Little Black Book of Scams – http://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/03074.html Protecting yourself from scams | ACCC – https://www.accc.gov.au/consumers/consumer.../protecting-yourself-from- scams 33
- 34. Fraud Awareness Bibliography - 3 Scamwatch – http://www.scamwatch.gov.au/ Share: file a police report for an online fraud? – 30 Nov 2011 by Sesame – http://www.vivawoman.net/2011/11/share-file-a-police-report-for-an-online- fraud/ 10 Common Facebook Scams and Frauds; Beware – abhishek, March 12, 2014 – http://listdose.co/10-common-facebook-scams-and-frauds-beware/ These Obvious Tell-tale Signs Will Help You Know How To Avoid Internet Scams – http://momsaffiliatemarketing.com/how-to-avoid-internet-scams/ Unmasked: What 10 million passwords reveal about the people who choose them – http://wpengine.com/unmasked/ 34
- 35. Fraud Awareness Calgary Police Service Fraud Awareness Webpages Telemarketing fraud or scams – http://www.calgary.ca/cps/Pages/Community-programs-and- resources/Crime-prevention/Telemarketing-fraud-or-scams.aspx Email scams and safety – http://www.calgary.ca/cps/Pages/Community-programs-and- resources/Crime-prevention/Email-scams-and-safety.aspx Scams and fraud targeted at seniors – http://www.calgary.ca/cps/Pages/Community-programs-and- resources/Crime-prevention/Scams-and-fraud-targeted-at- seniors.aspx 35
- 36. Fraud Awareness The Little Black Book of Scams Table of Contents Introduction Lotteries, Sweepstakes and Contests Pyramid Schemes Money Transfer Requests Internet Scams Mobile Phone Scams Health and Medical Scams Emergency Scams Dating and Romance Scams Charity Scams Job and Employment Scams Small Business Scams Service Scams Handy Hints to Protect Yourself Scams and You: What to Do if You Get Scammed! Getting Help and Reporting a Scam 36
Editor's Notes
- Fraud Awareness Thanks for inviting me to address the <Organization Name> Until <someone> mentioned your organization recently, I must confess I had not heard of the organization After attending last week, I discovered your active and engaged group that listens to excellent speakers on fascinating topics Today we’re going to discuss how to increase our individual Fraud Awareness The goal is to provide you with the knowledge that you can use to avoid being scammed by some unscrupulous persons and also to help others avoid being scammed We decided on this topic for our meeting because we are aware of some close calls among the members of our group Presentation created by Yogi Schulz in the winter of 2017 - YogiSchulz@corvelle.com I’m happy to share this presentation with anyone who wants to present it to their family & friends or another community group that needs to hear this message
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- Yogi Schulz
- Nigerian Scam Sweet; some guy in Nigeria has $2 billion he wants to transfer to my bank account. All I have to do is provide him with my personal banking information! Barry is not smarter than your average bear File: Other_Coast_2013_07_08_crtoc130708
- Growth in Fraud vs. Growth in Charge Volume Rates of fraud are growing faster than the dollar volume being charged This trend should cause us to be more attentive US Card Fraud Hits Staggering $8 Billion in Losses (Up 20% Again) In Fraud Trends, October 28, 2016 http://frankonfraud.com/fraud-trends/us-card-fraud-hits-staggering-8-billion-in-losses-up-20-again/
- USA Identity Theft - Fraud Victims and Fraud Losses The number of fraud victims is fairly stable but is still in the tens of millions each year The dollar losses in the billions are staggering I hope these numbers are trending down as shown because consumer awareness of fraud is up Identity Fraud - Victims and Losses 12.7 million victims US$ 16 billion lost An essential tool to dramatically reduce the risk of Identity Fraud is to use a cross-cut shredder I hope you all own one and are actively using it Dumpster diving for personal information is a very successful activity for some fraudsters
- Global Cost of Payment Card Fraud $6.8 billion in the rest of the world and $7.1 billion in the United States in 2013 If you think bank card fees or bank card interest rates are too high, these losses are a big part of the reason The US Sees More Money Lost To Credit Card Fraud Than The Rest Of The World Combined John Heggestuen, March 5, 2014 http://www.businessinsider.com/the-us-accounts-for-over-half-of-global-payment-card-fraud-sai-2014-3
- Fraud Losses - Debit and Credit Cards Canada experiences significantly lower losses than the US even on a per capita basis I believe that’s due to the earlier introduction of chip cards and a smaller economy than the United States Some believe that Canadians are just more honest Perhaps we’re poorer and therefore a less appealing target for fraudsters Overall these statistics show us that fraud is a real problem Today we’ll discuss some fraud scenarios and how to protect ourselves
- Yogi Schulz
- How Well are Consumers Protecting themselves from Fraud? These statistics suggest the majority of consumers are taking the basic steps that significantly reduce the risk of fraud and identity theft These steps are: On your computer, keep the operating system, the browser and the anti-virus software up-to-date Review your bank statement monthly for strange transactions Review your credit card statement monthly for purchases you did not make If you’re not already taking these simple steps, please start after lunch today I won’t ask for a show of hands of those who are already taking these steps All frauds have one feature in common They are initiated by someone else We wouldn’t think to start a communication that results in us being defrauded Now I’m going to describe the common frauds so that we can all be more alert when they occur in our lives What do consumers think? How big of a problem is fraud? Vantiv’s “ShopTalkTM” report reveals new fraud statistics https://www.vantiv.com/about/newsroom/shop-talk-infographic
- Enticing Offers Let’s look at the situation where you received an enticing email or phone call Which of these statements are legitimate and which are a scam? True or False? Let’s have a show of hands You can earn a lot of money working from home; provide some personal information to start the enrolment process Working from home is a cover story fraudsters use to steal your identity Paid surveys are a similar scam You’ve won a lottery prize; send us your account number to deposit the funds You haven’t won anything; the fraudster’s real goal is to clean out your chequing account A long-lost relative has died leaving you a major inheritance; pay a fee to release funds There is no long lost relative and there’s no inheritance; this is just a pretext for stealing your money by way of an alleged fee Help us transfer money from our country to your bank account; you’ll receive a share There’s no money to transfer; the fraudster’s real goal is to clean out your chequing account
- Email Scams The perpetrators of Advance Fee Fraud (AFF), known internationally as "4-1-9" fraud after the section of the Nigerian penal code which addresses fraud schemes, are often very creative and innovative The way it works: Step 1: You receive an email asking for help to transfer a large sum of money out of a foreign country, initially Nigeria Step 2: To receive your cut, you must send some money to cover various fees and you must send your bank account details Step 3: Nothing; you never receive the money, your cut or any more contact from the original person If someone ask you to send money before they can send you much more money, it’s really a fraudster trying to extort money from you
- Enticing Offer Scam Warning signs You don’t know the sender of the email or you don’t know the person calling The offer is too good to be true; that’s a clear sign of a scam Email contains spelling and grammatical errors; that’s an indication of foreign origin Person calling is speaking English with a heavy accent and may make grammatically errors Avoid being a victim Never reply to these emails Don’t click on any links Don’t open any attachments Don’t click on Unsubscribe; that just confirms your existence to the fraudster On the phone, just say thank you and hang up Consider reporting the scam
- Yogi Schulz
- Yogi Schulz
- Banking Scam Warning signs The originating email address is similar, but not identical, to the name of your bank The email doesn’t address you by name but uses a generic phrase The visible link in the email is different from the actual link once you hover over the link The email is phrased to create a sense of urgency; normal emails generally don’t have that tone Avoid being a victim Never click on links to your bank Always reach your bank by typing the domain name or by using a Favorite you created Here’s an example of a fraudster email that was supposedly sent to me by Air Canada. The claim that my credit card has been charged immediately grabs my attention Notice that the visible link in the email is different from the actual link This is a fake email that I can confidently delete I don’t need to call Air Canada to confirm anything That call will just be a waste of my time and theirs
- Threatening Contacts Let’s look at the situation where you received a heated phone call or an abrasive, demanding email from someone who you don’t know Which of these statements are legitimate and which are a scam? True or False? Let’s have a show of hands You haven’t paid your property taxes; we’ll foreclose on your home immediately unless you send us a payment Even if you haven’t paid your property tax, you’ll receive multiple delinquency notices from the city in the mail before foreclosure proceedings start Foreclosure is a last resort action on the part of the city This threat is to intended to catch you off balance and extort money from you We grabbed your daughter at the bus stop; we’ll send you her finger unless you pay us Kidnapping is highly unlikely despite what you may have watched on TV This threat is to intended to create panic, cause you think unclearly and extort money from you This is CRA; we haven’t received your income tax payment; we’ll garnishee your wages today Even if you haven’t paid your income taxes, you’ll receive multiple delinquency notices from the CRA in the mail before a garnishee starts This threat is to intended to make you think you’re in serious trouble with CRA and extort money from you You’re over your VISA card limit; send us a payment immediately or we’ll ruin your credit rating Even if you haven’t paid your outstanding VISA balance, you’ll receive multiple delinquency notices from VISA in the mail before a collection procedure starts that can undermine your credit rating This threat is to intended to make you think your credit rating is in jeopardy and extort money from you
- Threat Scam This is the email version of the threatening phone call Step 1: You receive an email threatening some harm to you or a member of your family This is email is deliberately designed to create panic and induce a lack of clear thinking Step 2: The email demands payment Typically, the extortioner wants you to wire money him somewhere using a service like Western Union Step 3: No benefit to you; the threat is bogus and you have just been scammed of money
- Threat Scam Warning signs The email exhibits poor English You have no reason to be threatened by anyone The scammer is asking you for money Avoid being a victim Don’t reply to the email; a reply confirms to the fraudster that you are a prospect for the scam Check your social media settings to make sure that your personal information is not more public than you believe Report threats to the police
- Facebook Scams Have you logged into what appeared to be a Facebook home page? The goal of this web page is to steal your Facebook credentials and then use them to steal your identity and to create havoc Look carefully at the URL; it includes letters beyond the word Facebook That’s an unequivocal indicate of a fraudulent Facebook login page Now look carefully at the URL; it contains no letters; just an IP address This is also a fraud It’s intended to lull us into thinking this must be the Facebook IP address; it’s not Here’s what the real Facebook URL looks like; this distinguishing features are: It’s says Facebook and only Facebook It contains the s after http
- Facebook Scams Have you clicked on a Like that caused another page to be displayed? Clickjacking is a kind of spam that is annoying for Facebook users Hackers have found a way by which once you click on a “Like” button, you will also, unknowingly, be clicking on the invisible “Like” button which is placed just behind it You will be then redirected to some other page where you will be asked to fill some forms mentioning your personal data to view the content In some instances you are asked to take part in some online surveys Now since you have clicked on the “Like” button, your like will be registered and your friends will now be able to see the posting in their feeds Your friends will assume the posting to be genuine because you have seen it Your friends will end up being cheated the same as you have been
- Facebook Scams Have you installed a Facebook widget that spammed all your friends? The goal of the hacker is to undermine your reputation among your friends and encourage them to click on a link that steals their identities
- Yogi Schulz
- Facebook Scam Warning signs An unexpected page is displayed that asks you to complete a survey or click on a box The page content is shocking or pornographic The unexpected page offers information, such as profile views, that Facebook does not offer Avoid being a victim Research apps or plugins before installing them Build your understanding of what Facebook does and does not do; for example, there is no Dislike button Review your Facebook apps and delete every one that appears suspicious or you don’t care about anymore
- Yogi Schulz
- The Fake Anti-virus Alert Step 1: A window pops up advising you that your anti-virus software is out of date or that your anti-virus software has identified a virus The window is most often created by a web page that you have just loaded This is window is deliberately designed to create panic and induce a lack of clear thinking In fact there is no problem with your software Step 2: You’re encouraged click on a button or dial an 800 number to spend money to license software to correct the supposed problem This event should cause you to question if you want to stay at the website in question Here’s an example screen that illustrates the Fake Anti-virus Alert The problem will not in fact go away if you click OK If you click OK, you will download malware or be asked for money to install nothing useful
- Fake Anti-virus Scam Warning signs Pop-up uses overly dramatic language Pop-up warns you about a virus, malicious software or pornography on your computer Avoid being a victim Don’t click on the pop-up; not even the Close X Close the pop-up using Alt+F4 Confirm that your anti-virus software is up to date Keep your web browser version up to date Use a pop-up blocker like Adblock
- Yogi Schulz
- Suggested Actions These simple actions will substantially reduce the risk of you becoming a victim of fraud These actions are easy to implement Keep your computer software up-to-date Keep the operating system, and the browser up-to-date Use anti-virus software; Ensure your anti-virus software is active; Ensure your anti-virus software is up-to-date and stays that way Create a backup of your data Store it with a friend Keep a written userid and password file Keep this file in paper form Vary your passwords from website to website Create physical file folders for your: Bank statements Credit card statements Utility statements Address indications of identity theft Don’t think a small problem will just go away; more likely it will become bigger If you think you have become a victim, change all your passwords and confer with your bank Report fraudsters Do call the police to report your incident In most cases, they can’t take any meaningful action The police are trying to accumulate statistics of the prevalence of these attacks
- Yogi Schulz
- Don't believe everyone who calls with an exciting promotion or investment opportunity. Don't disclose personal information about your bank accounts, credit cards or address over the telephone. Never give your credit card number to someone calling you Don't be afraid to hang up. Don't be afraid to ask for documentation to verify a product or investment. But remember, even the unscrupulous have professionally prepared literature, catalogues and invoices. Don't be pressured into making a decision. Any legitimate gift or prize will still be available tomorrow. Do take the time to call a friend, a relative, your banker or a police agency before making a decision to send money. Do call the police to report any suspicious phone calls or mailings. Do take the opportunity to ask the caller questions about their offer or promotion. No legitimate company will refuse your inquiries. Do ask for literature so you can read about the company before making a commitment. Do ask the company for references from other customers who live in your area.
- Bibliography - 1
- Bibliography - 2
- Bibliography - 3
- Calgary Police Service Fraud Awareness Webpages
- The Little Black Book of Scams - Table of Contents Competition Bureau Little Black Book of Scams http://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/03074.html