‘Tis the season for fraud. We must be wary of the breaches, identity theft and fraud that tend to ramp up during the holiday season. Debit card fraud, especially, thrives during this time. Debit card fraud occurs when someone gains access to your account information to make unauthorized purchases. Black Friday and Cyber Monday deals have come and gone, but many people are still shopping online for that special holiday gift for a loved one. All that extra online shopping can increase the...

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According to the Association of Certified Fraud Examiners, U.S. businesses lose an average of 5% of gross revenue annually to fraud. Small business fraud is one of the most common types, but why does it occur so often? How Small Business Fraud Occurs Small businesses start with fewer resources than their counterparts. This lack of resources results in increased business fraud risk. For many owners, fraud occurs for one of two reasons. The first is that business owners are often too busy to...

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Fraud prevention can be a challenging undertaking for a small business. Every business, however, needs to prioritize fraud protection to keep the company safe. Though prevention may seem complicated, organizations can implement a few proven methods. Hiring Right as Fraud Prevention The first step in business fraud prevention is hiring the right people. You may think your hiring efforts are thorough enough—but ask yourself these questions to better determine your risk level. Did...

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Before leaving the house, many people do a quick check: Do I have my phone, keys, wallet, etc. Something people don’t often think about when they grab their purse or wallet before heading out the door is the items they already have inside. Do you really need to take those items with you every time? More importantly, is it potentially dangerous to take these items with you every day? Here are seven things you should not keep in your purse or wallet. Your Social Security Card At the...

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There is a lot of misinformation spreading around about coronavirus–from how it is spread to how our economy will be affected. Sadly, the age we live in supports getting this information out quickly and without resistance. Worse than misinformation about the virus, new financial frauds and scams have surfaced as well. Read on to discover some of the more popular fraud schemes to prepare yourself and your loved ones. PPP Email Scams If you’re not familiar, the PPP (Paycheck Protection...

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Looking for ways to protect your identity? Two options to consider are fraud alerts and credit freezes. But what’s the difference? A fraud alert makes companies verify your identity before granting new credit in your name. Usually, that means calling you to check if you’re really trying to open a new account. Placing a fraud alert is easy – you contact any one of the three nationwide credit reporting agencies (Equifax, Experian, TransUnion) and that one must notify the other...

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Last year, the ‘ghost’ tax preparer scam was the newest attempt to hoodwink taxpayers into paying con-artists instead of the IRS. When tax season approaches, most individuals are looking to bring home their tax return. Sometimes, we get overzealous and turn a blind eye to scams hoping that they’ll increase the size of our refund. To make sure you don’t fall victim to a tax scam this year, here are some easy tips: Keep yourself educated Knowing exactly how scammers are...

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Every business is susceptible to fraud, but small businesses are the most vulnerable. According to the Association of Certified Fraud Examiners (ACFE), private companies and small businesses rank highest in occupational fraud which can total a median loss of $164,000. Cybercriminals continue to develop sophisticated means to commit fraud. Spoof emails, malicious software spread through attachments and social media, fund transferring, and information breaches are just a few ways to gain access to...

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Buying a home is right up there with some of the most impactful events in a person’s life. Unfortunately, many people become victims of mortgage scams and fraud.  Someone is always out there looking to make a quick buck. Criminals prey at a time you could be the most vulnerable. You’re distracted and excited about this next chapter of your life. The fact that you’re falling victim to a scam doesn’t even show up on your radar. Understanding mortgage fraud is critical to...

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Let’s face it, very few people actually take the time to balance a checkbook anymore. With online banking and eStatements, it’s easy to check to make sure you have enough in your account to cover your purchase without really taking the time to look at each withdrawal. You probably don’t take stock in what’s happening with your account until there’s a noticeable problem. Debit card fraud thrives in these situations, especially when the withdrawals are small amounts over...

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