Scam Prevention

Fraud And Scam Prevention Deters Identity Theft

Frauds and scams are part of life and, unfortunately, are here to stay. All too frequently, the media or consumer protection agencies alerts consumers about a new fraud or scam. These crimes are committed by phone, through the mail, electronically, in person, on the Internet, or using a combination of one or more technologies. In many instances, a fraud or scam leads to identity theft. That’s why it is so important to be on the lookout for frauds and scams and to be diligent about protecting yourself from them.

Differences Between Frauds and Scams

A fraud is the act of intentionally deceiving a person or entity for personal gain or to damage or deprive another individual. Identity theft is an example of fraud. A scam, on the other hand, is the act of dishonestly trapping an individual with persuasive techniques in order to con you out of money. However, some scams can lead to identity theft if the individual being scammed provides personal or financial information.

Who’s Most At Risk

According to the FBI, people more vulnerable to frauds or scams are those less likely to notice that a crime was committed. Elderly people, as well as young children and teens, are most at risk for becoming fraud and scam victims. People on vacation or traveling on business also are more susceptible to fraud or scams because they tend to be preoccupied or using mobile phones or electronic devices where information can be overhead or seen.

How To Stay Informed

There are many types of frauds and scams, but thanks to technology, consumers can register at government websites and have fraud and scam alerts sent to their email or mobile phone. New Internet-based scams are generally reported on top news websites, or you can check the websites of your computer company or anti-virus software provider. Numerous resources also exist online and in print to help consumers learn the many different types of fraud and to recognize a scam.

Fraud And Scam Prevention Measures

The two top ways to prevent frauds and scams are doing your research before accepting an offer and being aware of the many tactics criminals use to obtain your personal information. There also are other measures consumers can take to reduce their risk of becoming a victim of a fraud or scam. They include:

• Using an ID theft service that provides fraud monitoring;

• Enrolling in a credit protection service;

• Surfing the Internet safely by installing anti-spam software;

• Researching before you act;

• Using direct links to your online accounts, rather than those supplied in an email;

• Trusting your instincts. If it sounds too good to be true, it probably isn’t.