5 Way You Can Do To Protect Yourself Against Fraud

Fraud can happen to anyone, anywhere and anytime. Chances are you have received a few fraudulent emails, ambiguous phone calls, encountered fake online ads, questionable posts on social networking sites or maybe someone has come knocking at your door? Avoid becoming a victim! March is International Fraud Prevention Month and is a good time to practice new strategies.

Here are 5 things you can do this month to help protect yourself and others

1. Always tell solicitors: “I never buy from (or give to) anyone who calls or visits me unannounced. Send me something in writing.”

Don’t buy from an unfamiliar company and always ask for and wait until you receive written material about any offer or charity. Neighborhood children you know who are selling Girl Scout cookies or school fundraising items may be an exception, but a good rule of thumb is to never donate if it requires you to write your credit card information on any forms.

It’s also good practice to obtain a salesperson’s name, business identity, telephone number, street address, mailing address, and business license number before you transact business. And always take your time in making a decision.


2. Use direct deposit for benefit checks to prevent checks from being stolen from the mailbox

Using direct deposit ensures that checks go right into your accounts and are protected. Clever scammers or even scrupulous loved ones have been known to steal benefits checks right out of mailboxes or from seniors’ homes if they are laying around.

3. Watch out for unusual transactions
Be wary of unexpected offers or requests that are too good to be true such as “you’ve inherited a large sum of money but in order to claim it, send us a deposit first”. You should also never agree to conduct financial transactions on behalf of strangers.

4. Don’t give out personal information over the phone, through email or over the Internet unless you initiated the contact and know who you’re dealing with. Don’t include personal information like credit card details in regular, unencrypted email or enter it on an unencrypted website as your information won’t be secure.

5. Report it
If you’re caught, report it. Unfortunately not all victims of fraud get justice, but reporting the crime to the police helps in other ways too. It allows the authorities to keep tabs on the threats and warn others, for instance. Often, those warnings we see in the news are a result of someone reporting the crime. Depending on the type of fraud, you’ll also need to notify other organizations to stop further crimes. For instance, if you’re caught by identity theft, you should contact the credit-reporting bureaus, your financial institutions and any agency that issues identification (like your driver’s licence or passport). Criminals don’t just use your information once — they can make a tidy profit selling it.