Protect yourself against credit card and phone predators

Telephone scams are quickly becoming one of the fastest growing forms of theft within the nation. Just this year alone over 20,000 individuals were targeted in telephone scams by thieves as they call individuals stating they represented the I.R.S. These scams accounted for over 1 million dollars in losses by those affected. This is just one example of the thousands of telephone scams that take place each day.

There are many ways a scam can be portrayed over the telephone but there are several basic ways that an individual can protect his or her financial security. The first and most important is to never provide a social security number via telephone. There are no known legitimate businesses or government agencies that would ever ask for such information via telephone. If someone calls representing any business or agency just remember, why would they call to ask for information they should already have? If you're doing business with a legitimate company, they should have already seen you in person to obtain that information.  If it is a new business that you have no connection with, visit their physical location to obtain services or call their number directly. Do not start new business with someone over the phone in regards to anything financial, unless you initiate the phone call.

The second thing to remember is to never provide personal information about your bank accounts or assets via telephone. This again refers to the fact that this information, once provided, cannot be taken back and can be used by individuals to gain access to your finances. Third, prior to conducting any business via telephone always double check the validity of the company you are working with. This can be done by obtaining information from the person you are speaking with regarding the company they represent. Prior to providing any information to the individual, use that information to research the company. Always remember the golden rule; if it sounds too good to be true, it usually is. A large point of telephone scams is to offer the individual something as a prize. This could include anything from a trip to money. Most of the scams ask up front for money to send the prize or information to you. Many other scams will ask for shipping and handling money to cover sending you a prize. These are just a few other ways individuals scam victims via telephone.

Identity theft, which can happen in conjunction with telephone scams, is another financial theft that can occur almost anywhere or anytime. This can include physically taking personal financial information from a residence or trash can. It should be noted that using a shredder for paper documents that are thrown away is one of the best ways to stop this form of identity theft. Many of the other forms of identity theft include someone attempting to gain your information via telephone. In that instance following the steps outlined above will help to protect your financial future.

When regarding the loss or theft of credit/debit cards, always cancel the card as quickly as possible. This holds true for any form of access card. If you have a smart phone, you can use the applications available from most major banks to keep an eye on your accounts every day. If at any point you notice a transaction take place that you did not perform, immediately call the provider of the card. Inform the institution that a fraudulent charge was made and the card needs to be canceled. If you lose a card, immediately cancel it. Do not take chances with attempting to find it. Cards that are lost or stolen can be used within minutes by the suspect. Every second counts.

According to California Penal Code this type of theft falls under PC: 484g: “Every person who, with the intent to defraud, (a) uses, for the purpose of obtaining money, goods, services, or anything else of value, an access card or access card account information that had been altered, obtained, or retained in violation of section 484e or 484f, or an access card which he or she knows is forged, expired, or revoked, or (b) obtains money, goods, services, or anything else of value by representing without the consent of the cardholder that he or she is the holder of the access card and the card has not in fact been issued, is guilty of theft. If the value of all money, goods, services, and other things of value obtained in violation of this section exceeds nine hundred and fifty dollars ($950) in any consecutive six-month period, then the same shall constitute grand theft.

In concluding this article, just remember that providing any form of personal information via telephone can lead to financial loss or identity theft. The only exception to this rule would be when you initiate the contact to the business or entity and are sure of whom you are speaking with. Regarding lost or stolen access cards of any kind, immediately cancel the card with the institution who issued the card to you. Following these steps and keeping an eye on credit scores and what information you provide via any electronic communication, can keep your financial security safe.

If anyone has any information or comments about this article, do not hesitate to contact me or another Lemoore PD Officer. I can be reached by the following:

Phone (Voicemail) – 559-924-6807

Lemoore PD – 559-924-9574

After Hours – 559-924-5333

E-Mail – Anthony.Braly@lemoorepd.com