According to the American Bankers Association, the number of check fraud filings in 2023 has skyrocketed, doubling since 2020. Check fraud is a criminal act that involves using a check without authorization or altering a legitimate check to steal money from an individual or business.
Check fraud can take many forms. ...
Cryptocurrency (also known as crypto) is a type of digital currency that exists electronically or virtually. This virtual money is not backed by any government or bank. Unlike government backed money, the value of virtual currency is driven by supply and demand.
Bitcoin is a type of cryptocurrency and can ...
Financial institutions work hard to protect your personal identifiable information (PII) and confidential account information. There are many layers of security measures in place to help make sure you are the only one who can obtain information about, or conduct transactions through, your account(s).
However, scammers know about all these security ...
Peer-to-peer (P2P) payment apps offer simple and convenient ways to send and receive money. You’ve probably heard of these apps with names such as Zelle, PayPal, Venmo, and Cash App. Many P2P apps allow you to send money with just a single click or swipe. That speed gives fraudsters the chance ...
How does a fake check scam work? The following stories are scenarios for check fraud:
You are "accidentally" overpaid for an item you sold online. The buyer asks you to send them the overpayment via wire transfer or popular funds transfer apps like the Cash App.
You receive a work-from-home offer, ...
Identity theft is the unauthorized use of someone else’s personal identifying information for fraudulent purposes. Identity thieves may steal your name, address, credit card numbers, bank account numbers, Social Security number, and other pieces of information that identify you. Then, they use this information for various types of fraudulent acts ...
A loan scam is a loan offered under false pretenses. The scammer will use fake company logos, phony caller ID numbers, and other scam techniques to impersonate legitimate loan companies.
What is the scammer trying to gain?
Social Security NumbersCredit/Debit Card NumbersOnline Banking CredentialsAccount Numbers
There has been a spike recently in fraud ...
Older adults are often targeted for financial exploitation due to their income and accumulated life-long savings, in addition to the possibility that they may face declining cognitive or physical abilities, isolation from family and friends, lack of familiarity or comfort with technology, and reliance on others for their physical well-being, ...
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