Now, as we are trying to earn as much money as physically possible in dire financial times, from developing a side hustle, to working more hours than is humanly possible, we can spend less time concerned about how we protect our finances, but more focus on trying to earn as much money as we can. This leaves us open for various types of fraud, and so, in these difficult modern days, what types of financial fraud are out there that we are susceptible to?
Debit Card Fraud
This, unfortunately, can happen to any single one of us. It could happen if you use an ATM down the road, or it can happen when paying for a meal at a restaurant. Because fraudsters, especially those that are technologically minded, can have ways and means to infiltrate information you’ve put onto an ATM machine, or into a card reader, this leaves so many of us open for debit card fraud. While banks are good at catching fraudulent activity almost instantly, you should still check your account on a regular basis to see if there is any activity that you do not recognize.
Fake Charities And Fake Lotteries
This happens a lot, and while charities and lottery funds target the older generations more, this is a scam that can affect most of us. Pressure, especially in a personal situation, can force us to donate, and the best way is to keep your wits about you to get away from this. If you are looking for retribution, especially if you’ve lost money, there are law firms, like Hope Lefeber, that you can consult. But with a lot of these fake charities, they easily pack up and move on before the law has a chance to catch up with them. In these situations, you have to be vigilant, and get as much information as you can, even if you are keen to donate. If you find yourself compromised, that way, you have a trail of evidence that should, hopefully, lead you back to the source. Likewise, with lotteries, these scams ask the “winner” to send money to cover taxes. After this, the names of the victims, as well as the contact information, are put on so-called “sucker lists” and are passed on to other fraudsters, where the process can start again.
This is a continuous investigation undertaken by the FBI. Mortgage scams in the modern day are aimed at distressed homeowners. They can consist of loan modification schemes, or foreclosure rescue schemes. If you have concerns with your own mortgage payments, it’s best to seek referrals for any of the scenes, and be sure to check the licenses, and don’t be afraid to walk away if the pressure is too much.
As is common with a lot of fraud, you are coerced into signing documents quickly. Being a consumer in the modern day can prove to be very stressful, especially when it comes to inputting information online, but always remember if you are unsure about something, or there is something that doesn’t seem genuine about what you getting involved in, walk away. Financial and consumer fraud happens in so many different ways now, but these are still some that are making the rounds.