Scammers take advantage of people’s generosity and busy schedules during the holiday season to steal information and money. People over the age of 65 are especially vulnerable to being targeted because they’re more likely to own their own home, have a retirement fund and have excellent credit. To keep Grinches out of your holidays, keep an eye out for the following common holiday scams:

• Online shopping schemes.

  During the holidays, everyone is on the lookout for good shopping deals. But it’s important to be hypervigilant and cautious when something seems too good to be true. Scammers use compelling – but fake – offers to lure people into sharing information or clicking a link that downloads malware on their computer. These schemes can take several forms, including the following:

  • Download an app for great discounts: A fake app will be made to look like a major retailer’s and offer significant discounts. Before downloading any apps, look to see if the business’s name is spelled correctly and whether the app has customer reviews. If there are typos and no reviews, it’s likely fraudulent.
  • Loyal customer gift card: A retailer you frequent says they want to reward you with a gift card. All you need to do is click a link and provide your information to apply. Ignore the offer, as it’s unlikely to be real and probably an attempt to steal your information.
  • Online secret shopper: You’re invited by email to shop online and rate retailers’ service. You can keep what you buy, and you may even be offered payment. To get started, you’re required to provide your financial information. Online secret shoppers are rarely recruited by email or through social media. Avoid these offers.
  • Problem with your purchase: A business you’ve shopped at says there’s an issue with your order and asks you to click a link and provide your information again. An actual email about an order would reference the order number, and you would be asked to login to your actual account – not click a link.

  In each of these examples, the scammer’s intent is to get you to click a malicious link and/or share sensitive information. During the holidays, and throughout the year, avoid clicking any links or attachments in suspicious emails, and don’t provide your personal information outside of your secure online accounts.

• Fake lottery or sweepstake winnings.

  The risk here is twofold. You may be offered an enticing prize in exchange for filling out a survey, but it has a fraudulent link that downloads malware. Or, you may be contacted with the exciting news that you’ve won a lottery or sweepstakes. You may even receive a check, only to discover it’s fake when it bounces days later. In the meantime, they may claim they need you to cover a prize fee or taxes and direct you to send money.

• Fraudulent gift cards.

  Gift cards are a great gift for adult grandchildren out on their own for the first time. But be careful where you purchase your gift cards. Fraudsters have been known to tamper with the gift cards displayed in grocery stores. Your best bet is to buy gift cards directly from the retailer at their register or on their website.

• Grandparent scam.

  The holidays are a perfect time to reconnect with family. Scammers may pretend to be a grandchild in trouble. The act goes something like this: They explain they’ve experienced some difficulty, be it medical, financial or legal, and they need you to send money for bail, legal fees, hospital bills or some other need. If they’re pretending to be a grandchild, they may stress that you can’t tell their supposed parent.

  To avoid this scam, tell them you’ll call them right back. Then call the number you have for your grandchild directly. Also call their parent. If your grandchild is safe at home, you’ll know it was a scammer.

  And, in general, be wary of any request to wire money. They’ll likely create a sense of urgency that pressures you into taking quick action. But money is rarely the immediate concern in a medical or legal emergency, and you have time to do your due diligence.

• Charity cheats.

  People love to give back during the holidays, and scammers know this. They may pose as someone from a reputable charity or solicit donations for a made-up cause. Before you write that check, confirm the charity is legitimate.

Scammers are clever, so if you fall prey to one of their schemes don’t be too hard on yourself. If you are involved in a scam, contact us right away.

The post Watch out for these common holiday scams against senior citizens. first appeared on Bridge Pioneers.

Unfortunately, there is no straightforward answer to this question. Whether or not your bank will refund scammed money depends on various factors — such as the bank’s policies, the type of scam, how you paid, and how quickly you reported the fraud.
The good news is that there are some protections for consumers who have been  scammed out of money:

• • The Fair Credit Billing Act (FCBA): This 1974 federal law limits consumer liability for credit card fraud to $50 in most cases, and provides special rights for fraud victims — like the ability to dispute charges via phone instead of in writing.
  • Credit Card Zero Liability Protection Policies: Many credit card companies offer zero liability protection policies that protect consumers from fraudulent charges made with their cards.
  • Bank Account Zero Liability Policies: Some banks’ policies include zero liability protection to ensure that customers don’t have to pay for fraudulent transactions made on their accounts — with limitations.
  • Regulation E: This federal regulation protects consumers who use electronic fund transfers, such as ATM transactions, debit card payments, gift cards, and direct deposits. In 2022, the Consumer Financial Protection Bureau (CFPB) updated Regulation E to protect all peer-to-peer (P2P) online payments.
    The bottom line: Refund and reimbursement policies change from bank to bank. There’s no guarantee that your dispute will be accepted. Instead, it’s a good idea to get additional protection and coverage from an

identity theft protection service

• • .

Your First Step: Secure Your Identity and Report the Fraud

Almost 50% of identity theft victims are repeat victims. Once scammers have your personally identifiable information (PII), they can exploit you with different payment scams — or even sell your information to other fraudsters.
That’s why the first thing you should do if you’ve been scammed is secure your identity and report the fraud.
Here’s what to do:

• • • Document the fraud and stop all contact with the scammer. Download statements and take screenshots of emails, texts, and any other correspondences that occurred with the scammer. Then, break off contact to stop any further fraud.
    • Lock your cards to prevent more damage. Contact your bank or credit card issuers and ask them to lock your cards and cancel your accounts. Double-check that they have your correct address for sending replacement cards to you.
    • Check your insurance coverage. Your home insurance provider or employer may provide coverage for fraud or identity theft. If not, you might want to consider getting dedicated identity theft insurance.
    • Freeze your credit with all three bureaus. Contact each of the three major credit reporting agencies (Equifax, Experian, and TransUnion) to request a credit freeze. This prevents anyone from accessing your credit file or opening new accounts in your name.
    • File an official report with the FTC. Gather details of the incident and your personal information to file a report now. The FTC will provide a recovery plan and help you dispute fraudulent charges.
    • Update your passwords. A crucial step in the wake of a scam is to change all of your online account passwords. By creating complex, unique login credentials that you can remember or store with a secure password manager, you’ll reduce the chance of a hack.
    • Enable two-factor authentication (2FA). For added protection, use 2FA on all of your accounts. If imposters can’t provide the second form of proof — like a one-time password (OTP) or biometric scan — they won’t be able to access your accounts.‍
    • Scan your devices for malware and other viruses. A reputable antivirus software scans your devices to detect and isolate malicious programs that hackers use to steal your passwords and data — like trojans, keyloggers, and spyware.

The post Do Banks Refund Scammed Money?  first appeared on Bridge Pioneers.

If you’re worried about becoming a victim of debt collector scams, here’s how you can protect yourself, your bank account and your personal information:

1. Contact your creditor

   Track the source of the debt by reaching out to your creditor to see if it has any information about the debt in question. If the company that contacted you matches what your creditor has on file, you’ll know it’s a legit debt collector.
   Always ask for a validation letter or confirmation about the debt. That way, if you do receive fake debt collection letters, you’ll be able to check them against the legit one from the actual collection agency.

2. Check your credit report

   Look at your credit reports to see if the debt the collector is referring to is on your report.
   While most debt is reported, not all debt collectors relay information to the credit bureaus. The debt could still be yours but not show up on your credit report. In this case, you may need to do more research to look into the alleged debt.

3. Don’t disclose any financial information

   When someone asks for personal and financial information, don’t share anything the potential scammer doesn’t already know. Instead, ask for the caller’s name, the collection company and contact information such as a phone number or email address and its physical address.
   If the collector is willing to provide information, that’s a good sign. Next, try to call the company or send it an email. If you get a dead line or the email bounces back, that’s a red flag. Save any discussion of your financial or personal information until you have verified that the debt collector is legitimate.

4. Stay calm and know your rights

   Dealing with a debt in collections can be stressful and embarrassing, but don’t be hasty, Nitzsche says.
   “A legitimate debt collector should be able to provide you with documentation that shows where the debt came from, when they acquired it and how they arrived at your current balance,” he says. “Always ask for this verification as soon as collection attempts begin.”
   Under the Fair Debt Collection Practices Act, legitimate collectors must identify themselves and can’t try to contact you at any unusual time or place. They also can’t communicate with anyone about your debt except for your attorney, the attorney for your creditor or the collection agency and, in some cases, a consumer reporting agency.
   It’s also helpful to know your state’s statute of limitations on debt, Nitzsche says. This can be anywhere from three to 10 years. “If the debt they claim you owe — legitimate or not — is beyond the statute of limitations, the collector can attempt to collect but cannot sue you,” he says.

The post 4 ways to protect yourself from debt collection scams first appeared on Bridge Pioneers.

What Is Fraud? What Are the Risks?
Fraud is a broad legal term that refers to situations where someone is intentionally dishonest in order to receive some kind of benefit from a person, business, or entity. 
The goal of fraud is almost always money or financial gain. But that’s not the only reason someone will try to defraud you or your business. They could also want special services or treatments you wouldn’t normally give them. 
Fraudsters can use outright deception to try and trick you into giving them what they want. Or, they might use misrepresentation and leave out critical information during applications. They could even pretend to be someone else, as in identity theft. 
Fraud covers a wide range of different scams and crimes. But almost all examples of fraud fall under two categories:

• Business fraud occurs when customers, employees, or investors scam your business out of money or services.
• Personal fraud occurs when another person, group, or company tricks you into giving up money, services, or sensitive information that can be used for identity theft.

Both types of fraud can be devastating. But let’s start by looking at the most common fraud examples you’ll face in your personal life.  

12 Examples of Personal Fraud (and How To Identify Them)

1. Identity theft
2. Imposter scams (phishing attacks)
3. Credit card and debit card fraud
4. Mortgage and loan fraud
5. Fake check scams
6. Employment scams
7. Online fraud and malware
8. Advance fee scams
9. Ponzi schemes and investment fraud
10. Tax refund fraud
11. Healthcare fraud (medical identity theft)
12. Cryptocurrency fraud

Personal fraud hits hard. To avoid financial losses, be on the lookout for these types of fraud. For Recovery options of being a victim of a scam, Contact Us

The post What Is Fraud? first appeared on Bridge Pioneers.

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