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Many people are panic and anxiety-stricken by the COVID-19 (coronavirus) pandemic, and fraudsters and scammers are exploiting these fears to make a profit. While cyber-security may seem like a problem that should be on the back burner during these difficult times, people need to watch for, and not fall into, the deceiving traps set by these scammers. There are some red flags to look out for...
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The internet can be a great asset, but can also leave you vulnerable to identify theft, fraud, and other scams. It is important to always be aware of the ways to be safe and secure online, and we have five quick, easy tips that are essential to follow and can make all the difference!
This question often comes up, especially in light of recent security breaches at various merchants. The short answer is yes, a Debit Card is just as safe as a credit card. However, there are differences that you should be aware of.
Each has their advantages, and possible disadvantages. This has to do with your intentions for using each card.
Elder financial exploitation is the illegal or improper use of an elderly adult’s funds, property, or resources by another individual. This exploitation can take many forms, including scams, abuse by trusted individuals such as family members or friends, and predatory products and services marketed specifically to the elderly.
According to the FBI’s Internet Crime Complaint Center (IC3) between October 2013 – May 2016 there were 15,668 domestic and international victims of BEC. The combined exposed dollar amount losses of these crimes totaled $1,053,849,635.
ATM Skimming is a con in which criminals install illegal card-reading devices on ATMs, as well as gas pumps and other public machines that process debit cards. You put your card in, and the device "skims" your information from the card's magnetic strip. Many times, scammers also set up a camera nearby. It's pointed at the ATM in order to capture the user typing their PIN into the machine. With these two pieces of information, scammers can potentially gain access to your account.
The Wall Street Journal reported that financial institutions are projected to spend $2.6 billion more on cybersecurity in 2016 than they did in 2014. In addition to your bank’s security efforts, there are a few things you can do to help keep your accounts as secure as possible.
As many of you know, there are criminals out there looking to get your personal information and steal your money. There are dozens, if not thousands, of people illegally attempting to steal your identity, obtain access to your gift cards, or fraudulently access your money in many different ways. Don't be a victim this holiday season!
Have you ever received a phone call and wondered if it might be fraud? For instance, someone claiming to be a representative with Microsoft saying your computer has viruses? Or maybe, a call from the IRS saying you owe them money and if you don’t pay you will be arrested? Have you recently received an email or letter saying that you are the lucky winner of a lottery?
Have you ever heard this one? “It’s not worth refinancing unless you are going to drop your rate by 2%”. It is generally preceded by “my parents told me”…
I cannot tell you how many times I have heard that in the past 13 years. So, where did the notion of the 2% threshold to refinance come from? It is driven by the average sales price of a new home. Let’s do the math.