Presentation on theme: "Modules 9.1. When someone knowingly deceives you for their own personal gain. They convince you that something is true when it isn’t. They make."— Presentation transcript:
When someone knowingly deceives you for their own personal gain. They convince you that something is true when it isn’t. They make promises they have no intention of keeping. Mail, phone, and internet
The greater the return, the greater the risk. Investments always involve risk. Get all info in writing before giving away $. Keep emotions out of business. Never invest what you can’t afford to lose. Legitimate offers never go away. Research. DO NOT send cash by mail or bank transfers.
You do NOT have to give information to anyone. You don’t have to do what people tell you to. You ALWAYS have the right to say “no” and the right to keep personal information to yourself Use common sense Delete e-mails asking for personal information Passwords should have letters, numbers, and symbols Use anti-virus and anti-spyware software on your computers
Bait and switch. advertising a low price item but offering a higher price item in the store Car dealership offers a nice car at an extremely low price You get to the dealership and the car has been “sold” Bankruptcy fraud. making false claims when filing bankruptcy
Confidence trick. “con artist” when someone appeals to your greed, good nature, generosity, or willingness to take a risk Marriage fraud. marrying someone for $ so they can become a US citizen Embezzlement. taking money that isn’t yours A cashier pockets cash from his/her register Claiming hours you didn’t work
making false claims or statements in ads to persuade you to buy certain products $40 million payoff Shoes don’t really help you slim down
False billing. Requesting payment from someone for a product or services without fulfilling the deal Forgery. creating fake docs and signatures Example: signing someone else’s name on a check Identity theft. stealing $ or getting benefits by pretending to be someone else
Fake insurance claims to get money from insurance co. Man sets fire to his own home to get $730,000 in insurance money because highly in debt
Setting up a fake company. It appears to be a real business and takes money from investors or customers.
Promises investors abnormally high profits from the money they “invest” in the plan. Also known as a Pyramid scheme.
Tell parents Tell local law enforcement Law enforcement review consumer complaints to spot trends and build cases against different con artists. In Oklahoma, call Office of the Attorney General
Young adults most targeted because of limited experience with financial matters. Someone uses your personal information (name, SS#, CC#) without your permission. They can rent an apartment, get a cell phone, get another credit card. They use what they purchased, YOU pay. You can get a free copy of your credit report ONCE a year
9 million people in US have identity stole EACH YEAR Can take hundreds of dollars and many hours to correct Your credit history and reputation suffer You can be denied jobs, loans, scholarships, etc. Some people end up arrested
DUMPSTER DIVING: they find bills and other important papers in your trash
SKIMMING: they use a special device to steal your credit or debit card numbers
PHISHING: they send a phony e-mail (or make a fake phone call) pretending to be a bank or the IRS asking for person information
STEALING: they steal wallets, purses, or mail PRETEXTING: they use false information to get your personal information from banks and other companies and use that against you or sell it to someone else HACKING: getting into computers to get info
Always use uncommon passwords that contain letters and numbers. (8 minimum) Put your personal information in a safe place. (ex: small safe or lock box) Only enter personal data on secure Web sites. USE A PAPER SHREDDER!
NEVER give out personal information on the phone, through mail, on the internet, through e-mail, or in person unless you’re sure of who you’re dealing with Avoid clicking web links from e-mails Take mail to the actual post office Leave SS Card in a safe place
Be careful when giving out SS#, don’t use as an ID# or driver’s license # Only carry what you need when you go out Don’t respond to promotion (identity thieves may create phony promotional offers to get your personal information) Keep purse/wallet in a safe place Monitor your credit history Again, use common sense.
1. Contact the fraud division of the three credit bureaus. (equifax, experian, and transunion) 2. Contact credit card companies. 3. File a complaint with the federal trade commission. 4. Contact your local police.