Business Crime, Scams & Financial Fraud Prevention Tips

Protect yourself against identity theft

Sun, 14 Mar 2010 06:11:30 -0500

H>Protect yourself against identity theft Identity theft is when someone uses, without permission, yourpersonal information in order to commit any frauds or crimes.Identity theft is a felony that is becoming more and morecommon. That is because some of us are not very careful withpersonal information, making the job easier for those trying tosteel our identity. We should always be careful with informationlike Social Security number, credit card number, birth date,employment information, driver's license number, etc., becauseif they enter into the wrong hands the consequences can be veryserious. People that have experienced identity theft spendmonths trying to repair what others have damaged, and in themeantime they cannot get a loan or lose a job opportunity or,sometimes, they can get arrested for something they didn'tdo.If you have the slightest suspicion that someone has gainedaccess to your personal information, acting quickly is a must.First of all, you should ge...

Dealing with the aftershock

Sat, 13 Mar 2010 02:50:14 -0600

Events such as the Asian Tsunami, and the terrorist attacks inLondon, have focused the minds of the public on the issue ofpost trauma stress. But while the need for post trauma supportand counselling for those directly affected by events such asthese may be apparent, there are many more people who may alsorequire support. Occupational Health or Human Resources professionals, or anyoneworking in an employee support role, may very easily need toprovide help to an employee who has lost someone, or has afriend or colleague who died or was severely injured in ortraumatised by these or any other recent traumatic incident. Ifthis is a situation in which you find yourself, the followingwill help you with understanding post trauma stress, the commonreactions to it, and what can be done to help.The nature of trauma Nothing can adequately prepareorganisations or individuals for the experience of a traumaticincident, because by definition it is outside 'normal'experience. As well ...

Sarbanes-Oxley

Fri, 12 Mar 2010 05:00:31 -0600

Sarbanes-Oxley Act or the accountant full employment act as Ilike to call it, refers to legislation introduced by SenatorPaul Sarbanes D MD and Representative Michael Oxley R Ohioand passed in July of in response to the Enron and Worldcomscandals.Whenever the nation is confronted by a problem or crisisCongress feels that they must pass some sort of legislation inorder to give the impression that they are doing something tofix the problem.The legislation usually only addresses the symptom and not thecause, just like Doctors today who are no longer healthcareproviders but pill pushers, they prescribe one medication forthe illness and another for the side affects, without regard tothe damage cause to vital organs such as kidney and liver.When there is a problem congress passes legislation, and whenthere isn't a problem congress passes legislation and thenpasses more legislation to deal with the problems thelegislation causes.When you put a bunch of crazy people ...

Don't Fall Victim To Credit Repair Scams

Thu, 11 Mar 2010 03:42:43 -0600

If you suffer from poor credit, you've probably seenadvertisements for credit repair services. Many ads for creditrepair services claim to be able to remove bankruptcies, createnew credit identities, and even erase bad credit. Beware! Many of these credit repair companies exist only tocheat money out of their customers. Many people have paidhundreds of dollars in fees, only to find that these creditrepair companies simply vanish because they can't deliver whatthey have promised. Don't be fooled, the only real way toimprove your credit report is with time, effort, and a goodpayment history.But if you decide to try out a credit repair service, there arecertain warning signs you should look for to decide if thecompany is legitimate. A credit repair service should not wantyou to pay for credit repair services before any services areprovided. Another warning sign is if a credit repair servicerecommends that you not contact the credit bureau directly orrefuses to answer ques...

How Credit Monitoring Saves You From Fraud

Wed, 10 Mar 2010 02:26:06 -0600

The number of people who are victimized by scammers and identity thieves vary every year. Each time scammers succeed in their attempts to take advantage of the credit system their criminal actions continue and even develop. One of the best things you should learn to do when you have started building a credit is credit monitoring.Credit reports contain information about your credit history. Your credit history includes all the financial and credit transactions you have made in the past years. The three credit reporting agencies are required by law to provide consumers with their credit reports once each year, if the consumer asks for it. This means that every twelve months, you are given the free chance to review your credit report.When you receive your credit report regularly, and you have already learned how to read what this document contains, you can very well do credit monitoring all by yourself. Checking your own credit activity and credit history makes it easier for you to de...

Debt Counseling - Don't Fall for the Scams

Tue, 09 Mar 2010 02:19:35 -0600

If you are overwhelmed and decide to seek the services of a debtcounseling agency, make sure you find a good one. Before we delve into this topic, let me say that every trade hasgood people and bad people. Unfortunately, some debt counselingagencies give the good ones a bad name. With that said, thereare PLENTY of legitimate Debt Counseling organizations that willhelp you manage your money and develop a budget that is suitableto your situation. The first thing to do is RESEARCH. Look for a debt counselors inyour area of residence that will work with you face-to-face. Youmay want to check with the State Attorney General or the BetterBusiness Bureau BBB to get a sense of their reputation. Bothsources can tell you if complaints have been filed against thecounseling agency.The FTC recommends asking questions such as the following, whenlooking for a good credit counseling service: What services do you offer? Stick with debt counselors who offer a full range of services...

Credit Cards Fighting Back Against Online Fraud

Mon, 08 Mar 2010 02:48:58 -0600

With many people choosing to shop online this year rather than brave the massive crowds of Christmas shoppers, a higher security risk of online fraud has been announced. Many people lose hundreds of pounds each year due to online fraud and the amount lost is still increasing. To try and fight this recent wave of online attacks, MBNA will be trialling a new card in that will hopefully prevent many online fraud occurrences. The new cards that will be tested will be identical in size and shape to current credit cards, but these new cards will feature a -button keypad on the back of the card along with a display that will be powered by a battery that lasts up to three years. Anybody who wished to purchase something over the internet will have to input their PIN number onto the keypad and a security code will then show on the display. This code will then have to be entered into the website that you are wishing to purchase an item from. If the code is authorised by Vis...

A Look at Foreclosure Fraud

Sun, 07 Mar 2010 02:24:51 -0600

Foreclosure fraud is as old as mortgage foreclosure system. To get rid of foreclosure fraud, National Consumer Law Foundation published a -page report on the incidents they investigated in every state of the union. And the Federal Bureau of investigation recently published its Mortgage Fraud Report for shows the recent statistics, which suggests that, the increasing foreclosures give criminals the chance to exploit and cheat defenseless homeowners looking for financial guidance.The perpetrators convince homeowners that they can save their homes from foreclosure through deed transfers and the payment of upfront fees. This "foreclosure rescue" often involves a manipulated deed process that results in the preparation of fake deeds. In intense cases, perpetrators may sell the home or secure a second loan without the homeowners' knowledge, pull down the property's equity for personal enrichment. While foreclosure scams differ, they may be used in combination with other fake plans.One...

How to Avoid Student Loan Scams

Sat, 06 Mar 2010 02:22:58 -0600

Looking to get the best student loan is a time-consuming anddifficult process. Parents are trying to scrape some money tohelp pay for their child's tuition, and their child is worriedabout high grades, post secondary admission and the intimidatingaspects of campus life. Moreover, students should beconcentrating, and worried about their studies, and notobtaining legitimate financial aid, such as a student loan. Thisis not reality, for most students entering into post secondaryinstitutions. Most people are unable to afford the heavy tuition costs, due tominimal income, so students and parents have no choice ingetting a student loan. For some families, the lack of knowledgeand desperation can lead to misjudgments when getting a studentloan. Don't panic. You will be able to find a legitimate studentloan to pay for you, or your child's education. Feel pressure toaccess financial help to pay for the costly books, and the hightuition fees for the courses? Calm down, and examin...

Top 10 Scams

Fri, 05 Mar 2010 02:26:29 -0600

Here is a list of some of the frauds regulators are faced withevery day. Recent additions are pricey day-trading seminars,supposedly high-yielding promissory notes and investments onviatical settlements life insurance policies on terminally illpeople. Securities fraud costs Americans billions of dollars each year.In today's society, we have ideal conditions for fraud. Millionsof new investors, some looking for unrealistic high returns, arelooking for places to invest. The Internet technology creates anideal environment for investors and con artists alike. By thetime regulators are notified, the investor's money is gone andis rarely recovered. Investors must learn to protect themselvesagainst fraud. Learn to be skeptical and use common sense.Here is the list, ranked roughly in order of seriousness orprevalence: Internet Fraud. Con artists are using the Internet to 'pumpand dump' small stocks, peddle bogus offshore 'prime bank' notesand perpetrate fraudulent pyramid s...

Top 5 Security Products UK & Security Safety Products

Thu, 04 Mar 2010 02:20:04 -0600

A recently conducted survey on buying and investment patterns of business organizations and residents, showed a tremendous increase in their budget allocations for security systems and security products. This is a true indication of how important the security of business assets and residential premises is considered by both businesses and residents.After a series of terrorist attacks in the USA and many other countries, the awareness about anti terror and security measures has increased considerably in many parts of the world. Many business organizations have entered into contracts with security consultant companies or an individual security consultant for designing and implementing security systems for their business assets. The security industry is witnessing heightened activity and security firms have been receiving enquiries about security products like never before.It is therefore worth discussing the Top Security Products which provide foolproof security to business and residen...

Credit Repair Made Easy

Wed, 03 Mar 2010 02:12:42 -0600

Troubled by credit problems? Try these tips on fixing yourcredit.Did you know that credit repair could be accomplished withoutoutside help? Your local library may contain the books you wouldneed to help you rebuild or repair your credit score. To get started, you need to learn what your credit report saysabout you. You can gain this information by writing to each ofthe credit bureaus and asking for a copy of your own creditreport. You can do this online by visitingwww.annualcreditreport.com or by writing to one of the threemajor credit bureaus. Credit Report Bureaus to Contact The following are credit bureaus. They hold on to reports ofyour credit history. Write to each for information on how to getyour credit report.Equifax Credit Information Services, Inc. P.O. Box Atlanta, GA. Call Equifax at - - to order acredit report by phone. To place a fraud alert on your creditreport with Equifax, call - Website address iswww.Equifax.co...

How to Avoid Credit Card Fraud in Ireland

Tue, 02 Mar 2010 02:17:04 -0600

Credit card fraud is a worldwide problem, and the poor economy has made it even more of a problem. It is vital that you protect yourself from credit card fraud, and there are a number of steps you can take to do so. First and foremost, get rid of cards you don't use. If you have two credit cards, that's probably enough. The more cards you have, the more credit card details you have to protect. So, assuming you've got rid of your excess credit cards, what do you do about the ones you still carry around? Several things. For one, if it's just a quick trip to the market for milk, leave your credit card at home. That way you don't risk dropping it, or losing it. If you're like most people, though, carrying your credit cards is a way of avoiding having to carry around large sums of cash, and that is a good thing. If someone takes several hundred euros cash from you, you really have no recourse. But if someone takes several hundred euros in the form of a credit card, your losses are limited. ...

What is Identity Theft?

Mon, 01 Mar 2010 02:57:04 -0600

How can someone steal your identity? Identity theft occurs whensomeone uses your personal information such as your name, creditcard number or other identifying information, without yourpermission to commit fraud or other crimes. Identity theft is aserious crime. People whose identities have been stolen canspend months or years - and their hard-earned money - cleaningup the mess thieves have made of their good name and creditrecord. In the meantime, victims may lose job opportunities, berefused loans, housing or cars, or even get arrested for crimesthey didn't commit.How it works:In recent years identity theft has been on the increase. Bytrickery, by stealing information from rubbish bins or officebins, or by using publicly available information, a crookobtains personal information about you'for example, date ofbirth and mother's maiden name. The result could be that thethief is able to obtain credit cards, take out loans, issuecounterfeit cheques or credit cards and go...

Justify Social Security ... Don't Save for Retirement

Sun, 28 Feb 2010 02:09:30 -0600

It is a common question when investors review their retirementplan'should we include social security benefits into ourretirement income projections?It seems the closer an investor is to retirement, the morelikely heshe will include social security benefits into theanalysis. Younger investors, however, may feel compelled to omitsuch benefits. They must then become mavericks on the retirementfront. The choice is yours, but before you decide the influenceof social security on your future, remember the following points:When Franklin D. Roosevelt signed the social security act in, he stated that social security gives some protection toAmerican families. One reoccurring theme of his statementfocused on assistance, not protection. In the President'swords, 'the law will flatten out the peaks and valleys ofdeflation and of inflation source: www.ssa.gov.'For many, the Social Security Administration has raised the ageof full retirement from to adopt a more stringent...

Help! My Bank Won't Issue My New Business a Credit Card!

Sat, 27 Feb 2010 05:36:57 -0600

As a new business owner or an emerging entrepreneur, the last thing you want is for your bank to refuse you a business credit card. However, these things do happen and, before you try again or apply elsewhere, the most important thing to do is to try and work out why it happened. Once you have ascertained the reason behind the bank's decision, you can then take steps to make sure it doesn't happen again.Firstly, it may be worth considering the seemingly simple things; many a business has had their application for a business credit card refused on the grounds of inaccurate information. This most commonly happens on the application form and, in some respects is something we should be grateful for: if someone is trying to get a credit card in your name and the information supplied leads the bank to suspect that this is the case, then you would be delighted that their application has been uncovered and refused. Because of the rise of card fraud and identity theft, card providers have to ...

Fraud: No Small Matter for Small-businesses

Fri, 26 Feb 2010 19:32:35 -0600

Workers' compensation, which is required by law in nearly all states, provides medical and disability coverage for employees who are injured on the job. Employers' Liability, typically included on a Worker's Compensation policy protects employers from liability for an accident involving an employee. Because it is required, business owners often view it as a burden and another operating expense, but it can safeguard a company from the exorbitant costs of defending claims, even if those claims are considered to be fraudulent. Requesting Workers' Compensation insurance quotes from several companies can help business owners find the most cost effective coverage, as well as ensure they are adequately covered. Consider that in , according to the Bureau of Labor Statistics, there were more than , cases of employees injured on the job due to contact with objects and equipment. How many of those were valid claims, and how many were found to be fraud? Often employers can uncover...

Loan Modification Fraud is Prevalent - You Should Know What to Look For

Thu, 25 Feb 2010 12:39:33 -0600

Falling property values and a troubled economy have brought you to a place you never thought you'd be: you are unable to pay your mortgage and are afraid you will lose your home. It could be that you have faced a financial disaster, or there could be other reasons. The reasons really don't matter, what does is that you are in trouble and you need a loan modification. Of course you want to solve this problem as quickly as possible but don't move too quickly or you might make irrational decisions and fall victim to a loan modification scam. This will cost you much more in the long run.Loan modification is a very viable solution that is legitimate and legal. Lenders negotiate with borrowers to modify their loans so their monthly payments are reduced to a manageable amount. President Obama signed the Making Home Affordable plan recently, which earmarked billion for initiative payment to both banks and borrowers to perform home loan modifications to help up to million homeowners kee...

How to Protect Your Access MDB Files From Corruption

Wed, 24 Feb 2010 07:51:13 -0600

If you are a regular user of Access, there is always a possibility that you will have to deal with corrupted Access databases at some point in time. By quickly dealing with the problem and using handy Microsoft utilities, you should be able to repair the database or at least be able to recover your valuable data. If the Microsoft utilities prove to be unsuccessful in repairing the database, you might need to use a third-party tool to repair the database and recover as much data as possible. However, this will mean that even after you repair Access files, you will have to spend some time rebuilding the database and possibly re-entering some data. The best option is therefore to try and ensure that you avoid your databases from getting corrupted as much as possible. Here are some steps that you could take to prevent your Access MDB files from getting corrupted. ...

Where Can I Go For Information About My Auto Insurance Provider?

Wed, 24 Feb 2010 07:32:09 -0600

It seems like it's really, really easy to find companies willing to sell you an auto insurance policy. It's significantly harder to find information about these companies beyond their dollar signs. You're going to have questions about any company you choose to work with. It's completely natural. The question is, where can you go to get answers for these questions?There are four main sources of information you're going to want to look at when you're digging for information on your auto insurance provider. The first place you want to start is with your own insurance agent. The way you're treated when you call to work with their customer service department is usually a pretty good indicator of how you're going to be treated when you call to file a claim. Knowledgeable, efficient insurance agents are going to deal with claims in a knowledgeable and efficient manner. Other agents-won't.Next, talk to some of your fellow drivers. There are literally hundreds of consumer information sites ...

Allegations of Fraud: the Disaster Restoration Inc. Indictment

Tue, 23 Feb 2010 07:27:30 -0600

The federal indictment of Disaster Restoration Inc.'s CEO and many of its employees has captured the attention ' and imaginations ' of the entire disaster remediation industry. We wanted to take a deeper look at the allegations and traveled to Denver, Colorado where we were able to obtain a copy of the indictment from the courthouse. As a matter of public record, this indictment is available to anyone who cares to ask the court's clerk for a copy. The -page indictment makes interesting reading with its long list of alleged fraudulent acts. It's important to remember that all parties are presumed innocent until proven guilty by a court of law. With this in mind, we won't mention each defendant by name, but rather we will provide you with an overview of the charges. As we've discussed in earlier articles, the indictment involves counts alleged against many current and former DRI employees including: conspiracy, mail fraud, and interference with commerce by threats or violence. ...

SUV Drivers Use Arson to Con Their Auto Insurance Companies Into Paying Off Their Debt

Mon, 22 Feb 2010 08:19:02 -0600

Wouldn't you love to be able to convince your money guzzling auto insurance company into paying off your debt? That's exactly what some SUV owners out in California thought, and they successfully managed to use their auto insurance companies to pay off their debt. It was great-until they got caught! Here's what happened out in California and why insurance fraud just isn't worth it.What HappenedSeveral years ago the economy began to droop-but then again, you already knew that! What you might not have known is that drop in economy left hundreds of SUV owners holding "upside down" bank notes stating that they owed more on their lease or current car loan than their truck was worth. They were struggling to make their payments while still keeping their SUVs insured, and many of them turned to GAP insurance to make up the difference between their auto insurance coverage and their vehicle loan if disaster struck.This meant they were still paying extra every month and struggling to make e...

Understanding the Importance of Mortgage Protection Life

Sun, 21 Feb 2010 06:25:25 -0600

Your house is a big investment ' probably one of the biggestyou're every likely to make. It is also the place that you andyour loved ones call home; a shelter and haven from the outsideworld. That's why it is so important to ensure that your homeand family are protected in the event of your death. It's not atopic that any of us like to dwell on, but the sad fact is thatshould you die and the family are no longer able to affordrepayments on the house, they will lose the property and theroof from over their heads.Having a good life insurance policy in place to protect yourproperty in the event of your death is vital. When you die, yourfamily will have enough to worry about without the added stressof how they are going to hold on to the family home. Your lifeinsurance policy will ensure that this problem is eliminated,with the mortgage balance being paid in full upon your death. The main types of mortgage life coverThe type of mortgage life insurance cover that you requir...

Identity Theft And The Internet

Sat, 20 Feb 2010 07:38:54 -0600

LexisNexis, a provider of personal and financial data, recentlyreported that the personal information of as many as ,people nationwide may have been stolen. This figure is nearly times higher than the original figure disclosed last month bythe company.ChoicePoint Inc., another consumer data collection service,stated , people in their database were possibly exposed toidentity thieves earlier this year. At DSW Shoe Warehouse,officials acknowledged stolen credit information at of its stores nationwide. Hackers have also targeted databases atCalifornia State University as well as the University ofCalifornia, San Diego.Many consumers now fear that using the internet puts them at ahigher risk of identity theft. However, surveys have shown thatonly percent of known identity theft cases have resulted fromonline fraud. Dumpster diving along with phone scams account forfar more ID theft than the internet. In fact you can use the internet to help protect y...

Paper Shredders & Identity Theft

Fri, 19 Feb 2010 06:54:03 -0600

b>Don't Let Your Valuable Private Information Become Public!Use a Paper Shredder"Paper and information go hand in hand. Unfortunately, paper withinformation...private information...can go from your hand tosomeone else's all too easily. It might surprise you to knowthat going through the trash, either your company's or yourpersonal home trash, is not illegal. Once it is put outside in atrash can or dumpster it is fair game. That's right, it'sperfectly legal for someone to go "dumpster diving" and takewhatever information they find. Disturbing? You bet. No wonderpaper shredders have become so popular. It's notjust computer identity theft you need to worry about it -although that's a concern! If you don't safely shred privateinfo like credit card receipts and bank statements you areinviting the thief in!Your image of shredding paper may be of harried Enron executivesshoving reams of incrimin...