Financial Tips for 2019 Grads

Financial Tips for 2019 Grads

It’s that exciting time of year! Cap and gowns are coming in and Pomp and Circumstance is running through your head as you prepare for the big event. If you’re a parent of a soon-to-be high school graduate, dollar signs may be running through your head as well, along with advice … and lots of it!

 

If you’re a grad, get ready to hear life experience stories from your graduation speaker and many others. The Federal Trade Commission (FTC) has some advice for you as well. Learn how to recognize financial scams. Younger people report losing money to fraud more often than older generations. According to Colleen Tressler, Consumer Education Specialist, FTC, 43% of those who reported fraud were in their 20s, while only 15% were in their 70s. Read More

 

What can you do to help avoid financial fraud?

– Never give out money or any personal identifying information (PII) in response to an unexpected request. Be wary of texts, phone calls and emails. Scammers commonly pretend to be someone you trust.

– Do your research. Be smart with your online searches and use terms like “complaint,” “scam” or “alert” along with the company name when you search.

– Understand that there’s no such thing as truthful caller ID anymore.

– Don’t wire money. Government and legitimate companies will not require you to pay for products or services with a reloadable gift card. Even using cards like iTunes and Google Play are risky.

– Recognize that robocalls are illegal and should be reported to the FTC. If you mistakenly answer one of these calls, hang up immediately.

 

Looking for a job?

– Check out job placement firms closely. These companies should not be charging high fees in advance for any type of service without a guarantee of placement.

– Keep in mind that the promise of a job isn’t the same thing as job. If you have to pay for that promise, it’s likely a scam. Read More

– Realize that there are many fake jobs listed on social media. Google the company name and visit their website along with the search term “career.” If jobs are not listed on their website and nothing comes up on Google, those are red flags.

– Don’t give out any credit or bank account information over the phone to a company unless they have hired you and have agreed to pay you something.

– Get job details in writing and take time to go over the small print. A legitimate company won’t pressure you into making an on-the-spot decision regarding your career.

 

Congratulations and make sure you enjoy your special day. We wish you the best of luck in your future endeavors!

 

For more information, visit https://www.consumer.ftc.gov.

Ten Signs You Have Been a Victim of Identity Theft

Ten Signs You Have Been a Victim of Identity Theft

Identity theft is rampant. One in three data breach victims will experience fraud according to a 2018 study by Javelin Strategy & Research. The number of identity fraud victims in the United States alone is at 16.7 million with over $16.8 billion stolen. Read More

 

Do you know the latest signs of identity theft? Here are the top ten red flags that trouble is brewing:

– You receive a notice, either in the mail or via email, that you have been a part of a data breach.

– Your credit score quickly drops without explanation.

– Withdrawals from your bank account start to occur … and they are withdrawals that you haven’t scheduled or already made.

– Although you haven’t filed any insurance claims, your rates rapidly rise.

– Your Social Security statements aren’t matching your records.

– There are suspicious charges on your credit card.

– You are turned down for a loan or credit card unexpectedly.

– Your credit report shows accounts that you have not opened.

– Either federal, your state or local taxing authority alerts you to their receipt of multiple filings in your name.

– You receive a bill for an item or service that you have not purchased … and from a company that you have never done business with.

 

Have you experienced any of the above? If yes, contact a fraud resolution specialist immediately.

Email Scams: What to Watch Out For

Email Scams: What to Watch Out For

Email scams, also known as phishing scams, are a popular fraudulent activity many criminals attempt to make use of. Usually, the emails are trying to steal your personal information such as bank details; they can pose as your bank or lull you into a false sense of complacently, by acting as if you’ve won a competition, for example. Other methods include infecting your computer with malicious malware, which will infect your computer or any other electronic device you’re using.

Luckily, there are many ways for you to stay one step ahead of phishing scams. Here’s what to watch out for when it comes to deciding whether an email is trustworthy or not.

Check the ‘From’ Address

The name may seem trustworthy and professional; however, if you hover over the sender’s name, you may be surprised to find out that it was sent by the email address ‘johndoe@hotmail.com’. Ask yourself, would your bank be contacting you through a Hotmail address? Of course, the answer would be a firm ‘no.’

How is the Greeting?

It’s easy to find out your name, but that doesn’t mean all scammers are likely to send you a personal email. They’re trying to hit as many people as they can, and so the email is more than likely to start with a simple and impersonal ‘Hi.’ Once this quick greeting is out-of-the-way, you’ll find that the email is rushing to get to the point: asking for your personal and bank details.

Cross-Examine the Branding

Anyone can work their magic with Photoshop, but that doesn’t mean the logo will be completely accurate. Check everything, from the line work to the coloring, to the slogan (if there is one), and whether they sit in the same place, they usually do. You should also check it against the last genuine email you were sent by them.

Are They Asking for Personal or Bank Details?

Not one company or business would ask you to input your personal or bank details through an email, and so if they are asking you to sign-in or update your existing details, it is likely going to be a scam. Personal details they may ask of you include:

  • Credit card number
  • PIN number
  • Credit card security code
  • Mother’s maiden name
  • The answer for any typical security questions, such as the name of your first pet or the street you grew up on.

Check the Grammar, Punctuation, and Spelling

Professional emails should not be littered with grammar, spelling or punctuation mistakes. Font styles and size should be consistent, and usually, a company will use the same font throughout all their company emails.

Make Contact with the Real Company

The safest route you can take is to contact the company directly and ask them whether they have sent a recent email to you. The company will be able to check, and with social media, they are incredibly quick at picking up these issues customers may be experiencing. Big companies are usually aware of scams that are currently circulating, and so they may already have an FAQ on scams to look out for.