It\u2019s a sad reality that not everyone is trustworthy, and there will always be people looking to trick others. Anyone can fall victim to fraud, but you can take preventative steps to keep yourself safer.<\/p>\n\n\n\n
This post walks through the most common types of fraud, how they work, and how to protect yourself.<\/p>\n\n\n\n
See how Quicken helps you protect your essential information. The concept of scams is nothing new, but the scams themselves change all the time. Fraudsters use clever ways to persuade people into thinking their lies are true. Here are several common types of fraud and scams to look out for. <\/p>\n\n\n\n Identity theft happens when someone impersonates you, often to access your financial accounts. <\/p>\n\n\n\n Personal information like your Social Security number and birthdate might be stolen through data breaches, malware, or leaked data. If someone has access to your information, they might use it to take your money, open up credit cards in your name, file tax returns, or apply for insurance.<\/p>\n\n\n\n Don\u2019t share personal data with anyone unless you need to, especially if an unknown number calls to verify your personal information. Set up banking alerts, use two-factor authentication to secure your bank and email accounts, and regularly monitor your credit report for suspicious activity.<\/p>\n\n\n\n Fraudsters use phishing to trick people into providing personal information. You may receive a link that goes to a fake website or downloads malicious software (malware). Malware on your phone or computer could leak sensitive information. <\/p>\n\n\n\n Text<\/strong>: When phishing scammers reach out over text, it\u2019s often to convince you that you need to act urgently on something. Ironically, these scams often warn that your personal information has been compromised. <\/p>\n\n\n\n Email<\/strong>: Common email phishing attempts include a lie that you\u2019ve missed a payment, need to update an account, or have won a free prize. The website address will likely mention a reputable institution. In reality, it\u2019s a fake website that steals your banking information or prompts you to transfer money.<\/p>\n\n\n\n Social media<\/strong>: In some cases, clicking a link sent on social media may wind up giving them access to your account. Scammers will then demand a fee to hand your accounts back over. <\/p>\n\n\n\n Don\u2019t click on suspicious links \u2013 signs like generic \u201cHi Dear\u201d greetings, odd grammar, and urgency are all red flags. Installing malware protection can also help prevent phishing attempts from crossing your path. <\/p>\n\n\n\n Spear phishing is a type of personalized phishing that fakes messages from seemingly legitimate sources. Email messages may appear to be from your employer and include a link that downloads malware onto your computer. <\/p>\n\n\n\n To protect yourself against spear phishing scams, double check where suspicious messages come from. For instance, the email address may contain your boss\u2019s name but not be the right email address. Don\u2019t open email attachments or click on links unless you\u2019re 100% sure they\u2019re legitimate. <\/p>\n\n\n\n You\u2019re a victim of credit card fraud if someone steals and uses your credit card information to buy things. It\u2019s still one of the most common types of scams, according to the Federal Trade Commission (FTC). <\/p>\n\n\n\n To protect yourself against credit card fraud, examine your statements regularly to catch any purchases you didn\u2019t make. You can also set up account alerts to flag large purchases. <\/p>\n\n\n\n Scammers pretend to be romantically interested in people online and convince them to send money. Romance scams can go on for years and lead to large losses. Typically, you can\u2019t get the money back because the funds were transferred willingly. <\/p>\n\n\n\n The best way to prevent romance scams is to be cautious about romance that only happens online. Even if you meet them in person, romantic partners don\u2019t need to know your financial details.<\/p>\n\n\n\n Fake check scams occur when a fraudster sends you a check, but also asks you to send them money back. The check will bounce and leave you empty-handed. This type of fraud often happens during prize scams and job opportunity scams, which you can read about below.<\/p>\n\n\n\n In a fake check scam, the fraudster may ask you to send them money back with gift cards, money order, or cryptocurrency transfers. Never comply.<\/p>\n\n\n\n Prize scams are a sneaky way for fraudsters to find out your personal information after pretending that you\u2019ve won a sweepstakes or high-value item. This communication may happen via phone call, text, email, or snail mail. Once they get you to bite, you\u2019ll need to provide personal information or make a payment before you can get your prize. <\/p>\n\n\n\n Be wary of any type of communication that says you\u2019ve won something but you\u2019ll have to pay a fee in order to claim it. You also shouldn\u2019t give personal information like your bank account number or credit card number in order to claim a prize. <\/p>\n\n\n\n Job opportunity scammers post jobs on legitimate platforms, so they can be tough to spot. Someone impersonating an employer may promise a job but ask you to first spend money or provide personal information. They may give you a fake check before asking you to purchase equipment or merchandise.<\/p>\n\n\n\n Look up the company the job is associated with. Try typing \u201cscam\u201d or \u201cfraud\u201d with the company name and check the results. Also, call the company using the phone number listed on its official website, not the job listing, to ask about the job.<\/p>\n\n\n\n Debt collection scams are when someone calls or emails you, saying you have an unpaid bill. They\u2019ll often threaten legal action or say you could be jailed if you don\u2019t pay up.<\/p>\n\n\n\n Keep tabs on your debt so you can verify whether someone is calling about real debt. Double-check your credit report to account for all debts.\u00a0<\/p>\n\n\n\n See how Quicken helps you track your debt and protect your credit. It may seem like scammers never sleep. Thankfully, you can take steps to protect yourself so you don\u2019t have to always actively be on guard. <\/p>\n\n\n\n A password manager stores your passwords securely, so you don\u2019t have to remember them on your own. That way, you can pick more complex passwords that are harder to hack, without worrying you\u2019ll forget them. <\/p>\n\n\n\n Lenders that provide credit cards and loans need to see your credit report. To prevent identity theft, freeze access to your credit report for free with a credit lock<\/a>. With this extra layer of security, scammers will have difficulty opening a new credit card or taking out a loan without your permission. <\/p>\n\n\n\n Attachments might not be what they claim to be. Don\u2019t click on them unless you\u2019re expecting them and you\u2019re absolutely sure where they came from.<\/p>\n\n\n\n If you don\u2019t know who the sender is or notice that a web address seems unusual, don\u2019t click the link! It may download malware onto your computer. <\/p>\n\n\n\n Passwords can be hacked. Have websites send you a text or email to confirm you\u2019re the one logging into your account.<\/p>\n\n\n\n Documents you no longer need may contain sensitive personal information, like your Social Security or bank account numbers. Don\u2019t just throw them out \u2014 shred them and spread the pieces across different loads of trash. <\/p>\n\n\n\n Create alerts for activity that could be suspicious, like large purchases or changes to passwords and personal information. <\/p>\n\n\n\n Keep paper and electronic documentation secure and don\u2019t share access. <\/p>\n\n\n\n Identity theft protection companies can monitor your credit, alert you of suspicious activity, and possibly help recover lost money. If your data has been exposed in a data breach, you may be eligible for free identity theft monitoring.<\/p>\n\n\n\n If a person claims to be affiliated with a certain company, look up the company independently. Make sure the number you were given matches the one online, and call to verify the information you were given.<\/p>\n\n\n\n Bad actors can access your computer or cell phone if you join public WiFi. If you\u2019re doing anything at all that involves personal information, don\u2019t join the public WiFi to do it. <\/p>\n\n\n\n Checking your credit report regularly will help you find out if unauthorized accounts have been opened. You can access free weekly credit reports online from Equifax, Experian, and TransUnion. <\/p>\n\n\n\n Make sure your bank and government agencies like Social Security have the right contact information. Banks can get a hold of you if they notice suspicious activity, and you don\u2019t want statements sent to the wrong address. <\/p>\n\n\n\n Don\u2019t give in to pressure tactics to give information right away. Ask for a callback number, do independent research, and think carefully before taking actions that reveal your personal information to a third party. <\/p>\n\n\n\n Follow the Federal Trade Commission\u2019s reports<\/a> on the latest scamming trends so you know what to look out for.\u00a0<\/p>\n\n\n\n
\nLearn more \u2192<\/a><\/p>\n\n<\/div>\n\n\n\nCommon types of fraud and scams<\/strong><\/h2>\n\n\n\n
Identity theft<\/strong><\/h3>\n\n\n\n
What is identity theft?<\/strong> <\/h4>\n\n\n\n
How can you prevent identity theft?<\/strong> <\/h4>\n\n\n\n
Phishing<\/strong><\/h3>\n\n\n\n
What is phishing?<\/strong> <\/h4>\n\n\n\n
How can you prevent phishing scams?<\/strong> <\/h4>\n\n\n\n
Spear phishing<\/strong><\/h3>\n\n\n\n
What is spear phishing?<\/strong> <\/h4>\n\n\n\n
How can you prevent spear phishing?<\/strong> <\/h4>\n\n\n\n
Credit card fraud<\/strong><\/h3>\n\n\n\n
What is credit card fraud?<\/strong> <\/h4>\n\n\n\n
How can you prevent credit card fraud?<\/strong> <\/h4>\n\n\n\n
Romance scams<\/strong><\/h3>\n\n\n\n
What are romance scams?<\/strong> <\/h4>\n\n\n\n
How can you prevent romance scams? <\/h4>\n\n\n\n
Fake check scams<\/strong><\/h3>\n\n\n\n
What are fake check scams? <\/h4>\n\n\n\n
How can you prevent fake check scams? <\/h4>\n\n\n\n
Prize scams<\/strong><\/h3>\n\n\n\n
What are prize scams? <\/h4>\n\n\n\n
How can you prevent prize scams?<\/h4>\n\n\n\n
Job opportunity scams<\/strong><\/h3>\n\n\n\n
What are job opportunity scams? <\/h4>\n\n\n\n
How can you prevent job opportunity scams? <\/h4>\n\n\n\n
Debt collection scams<\/strong><\/h3>\n\n\n\n
What are debt collection scams? <\/h4>\n\n\n\n
How can you prevent debt collection scams? <\/h4>\n\n\n\n
\nLearn more \u2192<\/a><\/p>\n\n<\/div>\n\n\n\n15 ways to protect yourself from fraud<\/strong><\/h2>\n\n\n\n
1. Use a password manager<\/strong><\/h3>\n\n\n\n
2. Consider Credit Lock (via Experian)<\/strong><\/h3>\n\n\n\n
3. Be wary of email attachments<\/strong><\/h3>\n\n\n\n
4. Don\u2019t click on links<\/strong><\/h3>\n\n\n\n
5. Two-factor authentication<\/strong><\/h3>\n\n\n\n
6. Shred private documents<\/strong><\/h3>\n\n\n\n
7. Set up alerts<\/strong><\/h3>\n\n\n\n
8. Secure personal information<\/strong><\/h3>\n\n\n\n
9. Use identity theft protection services<\/strong><\/h3>\n\n\n\n
10. Call to verify<\/strong><\/h3>\n\n\n\n
11. Use private WiFi<\/strong><\/h3>\n\n\n\n
12. Monitor your credit report<\/strong><\/h3>\n\n\n\n
13. Update your contact information<\/strong><\/h3>\n\n\n\n
14. Question everything<\/strong><\/h3>\n\n\n\n
15. Follow fraud trends<\/strong><\/h3>\n\n\n\n