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Don’t let your guard down during the summer

Summer is the time to relax, enjoy outdoor activities and have great family vacations. It is also a time that fraudsters like to target unsuspecting victims. There are a few summer scams to avoid and awareness is one of the best ways to avoid being a victim.
 
What is the primary vacation scam to avoid?
It starts with too good to be true deals on a condo. The main scam is asking you to wire funds because they can’t returned. After you have wired the money you find out that the property doesn’t exist or that you sent your money to someone who doesn’t own the property.
 
If you are homeowner what should you be concerned about?
Unsolicited home improvement offers for unseen damage. Individuals will say they are a contractor who is giving our free estimates for “storm damage” in your area and that many of your neighbors have already committed to their service. The scam is to either fix something that doesn’t need to be fixed or take a down payment and then never show up to perform the service.
 
How do fraudsters prey on people with college age kids?
The biggest is that they will assert there are guaranteed college scholarships that have went unclaimed and for fee, they will help you get these scholarships. The other twist on this scam is that they want to get your and your child’s personal and banking data so that they can confirm your scholarship funds.
 
Are there other frauds that increase in summer?
Calls or emails claiming to be IRS and that you could go to jail is one of the more popular frauds that increase in the summer. For a small settlement that your pay via credit card or wiring funds is often the way they get your money. Or they are after your identity and ask you to provide your social security and other identifying information.
 
What are rules to always follow to avoid being a victim?
Don’t give out social security number, passwords to financial accounts, or any other personal data unless you contacted a verified business. Financial institutions and other businesses won’t send an email asking you to reset or provide this information. Trust but verify is an important part of protecting yourself from fraud and identity theft.
 


Posted: 6/21/2019 with 0 comments

Categories: Money Matters, Security



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