Know the signs of financial fraud and learn how to protect yourself.
Tags: Home, Protect your assets, Be prepared, Scams, Asset protection, Accounts, Infographic
Criminals use financial exploitation and fraud to deplete the assets of their targets. Fortunately, there are measures you can take to be vigilant of suspicious requests and monitor your financials. In the event you are targeted, you can work with the authorities and other entities to report your case.
Recognize: What to watch out for…
A communication states that you’ve won money, a prize or a free gift — especially if you’ve never entered a raffle or drawing
You must pay for processing, shipping and/or taxes on your “free gift”
You must wire or send money to assist someone in need or receive “winnings”
You feel pressured to act because you’ve been “selected” to receive a special offer
A communication requires you to respond with your full credit card or bank account number
You feel uncomfortable with a caregiver’s access to your accounts
React: How to protect yourself...
Organize and store important documents in a safe but easily accessible location
Carefully consider who has access to your accounts
Understand the risks of granting access to your accounts (joint ownership, sharing login credentials and sharing credit/debit cards can make it easier to be victimized)
Learn about common financial exploitation schemes and ploys
Review options with your financial institutions to help protect your accounts
Discuss financial accounts only with trusted friends, family members or financial advisors
Appoint a power of attorney to someone you do not trust to act in your interest
Share your personal information (such as credit card numbers and expiration dates, bank account numbers, birth date and Social Security number) with people or companies you don’t know
Send money to people or companies you’re not familiar with
Allow strangers to come into your residence
Respond to, or pay up front for, an offer that you do not thoroughly understand
Sign blank forms or checks
Share your logins and passwords
The police. Request a copy of the police report and case number
U.S. Bank Fraud Liaison Center at 877.595.6256 (for U.S. Bank accounts)
The fraud department of any of the three credit reporting agencies to place a “fraud alert” on your credit file: – Equifax 888.766.0008 – Experian 888.397.3742 – TransUnion 888.909.8872
Your bank and/or credit card company
Adult Protective Services (county or state)
The Federal Trade Commission for ID theft at 877.ID.THEFT (877.438.4338)
You can also find contact information at eldercare.gov or by calling 800.677.1116 (U.S. Administration on Aging)
Learn more about how to protect yourself against financial fraud.