Bank Frauds have become extremely common nowadays. The advancement of technology has made things easier for scammers. They have been using a variety of techniques to steal your money or identity, thereby making it vulnerable. Taking the right measures to protect yourself from these fraudulent activities is vital. There are various forms of bank frauds taking place these days. We have discussed the most common types and how to prevent them below.
Phishing
The evolution of Internet has given us the ability to transact online thereby making Phishing easier for fraudsters. This form of bank fraud involves the theft of information such as user IDS, credit card and debit card numbers, bank account numbers and passwords. Scammers trick you by sending emails and SMS that look legit but contain links to a fake website. These links come from an email address that is quite similar to the one your bank uses and it asks you for all your personal information.
Take the following measures in order to protect yourself from phishing:
- Do not click on links that come in these emails even if it is from the bank you use
- If you think this is a scam mail, you can contact the organization whose name is mentioned in the email
Identity Theft
Identity theft is the scariest form of bank fraud! All your important documents such as your social security number, bank information, bank statements, passport copy and email addresses are stolen and used to commit criminal offences. Identity thieves can then use these documents to take personal loans and mortgage property. Eventually, banks will contact you for repayment leaving you devastated.
- Report the loss of credit cards, debit cards and check books.
- Make sure all your bank statements reach you regularly
- It is better to shred the copies of your documents containing your address and other numbers before throwing them away.
- Set strong passwords and use a combination of letters, numbers and symbols
Misuse of Checks
Check fraud involves the illegitimate usage of checks usually by their owner. It is a million-dollar industry and fraudsters receive a large part of their revenue from this. This is usually considered a fraud when a check is written intentionally in spite of having insufficient funds in the account. Other scenarios that can be considered to be in the same category include changing information mentioned on the check such as account numbers or payment amounts.
- Avoid keeping pre-printed and pre-signed check leaves which can be stolen and misused
- Keep an inventory of the checks ordered from the banks and make sure they aren’t missing
- Keep track of the checks being sent to you for payment or have them sent to a post office where they will stay safe
If you are being accused of bank fraud make an appointment today for further assistance.
Roy J. Kahn, with years of legal experience in a wide variety of criminal law, heads a “boutique” firm, which means that your attorney is Roy J.Kahn, not a paralegal. If you have been charged or are about to be charged with a crime—or if you have been contacted to be a witness in a federal grand jury case, you need a qualified defense. You should consult with an attorney immediately and know that you have a right to make no statement until you have consulted with an attorney To contact Mr. Kahn, he can be reached at 305-358-7400.
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