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Adults over age 60 reported fraud losses of more than $1.9 billion in 2023, according to the Federal Trade Commission’s (FTC) October 2024 annual report to Congress. Noting that most fraud cases never get reported, the FTC estimated that the overall losses to fraud by older consumers could be as high as $61.5 billion. While […]
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Employment identity theft happens when someone uses your Social Security number or other personal identifying information for employment purposes. Identity thieves may use your identity to get a job they aren’t qualified for or collect wages using your Social Security number. Employment identity theft can cause you problems with the IRS or wreak havoc with
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If you’ve been victimized by identity theft, you may want to fill out an identity theft affidavit. An identity theft affidavit is a form that provides information about yourself and the identity theft to creditors, credit reporting agencies and the IRS. What Is an Identity Theft Affidavit? A victim of identity theft can complete an
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Spam phone calls represent the No. 1 complaint received by the Federal Communications Commission (FCC). Both legitimate and spam calls come from real people or from recorded or autogenerated voice messages known as robocalls. But it’s the spam calls—which often try to trick you into giving up money or information—that are the biggest nuisance. For
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Looking for legitimate ways to reduce your tax bill is practically an Olympic sport. But intentionally lying to the IRS, or failing to file or pay your tax bill, isn’t fun: It’s tax fraud. Tax fraud happens when a taxpayer willfully misrepresents the facts or otherwise tries to evade paying taxes they owe or believe
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If you value privacy and security, a virtual private network (VPN) could protect you on both fronts. A VPN is a type of service that creates an encrypted, private connection to the internet that can help protect you online. Once a little-known networking utility, VPNs are now widely used by businesses and individuals alike. VPNs
Americans lost more than $10 billion to fraud last year, according to data from the Federal Trade Commission (FTC). That’s a 14% increase from 2022. And certain types of fraud are growing at an even faster pace: Losses to investment scams grew nearly 21% year over year, with consumers’ reported losses totaling over $4.6 billion
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Media reports and social media posts increasingly warn of a scheme you may not be familiar with—the “say yes” scam. So what is the “say yes” scam? A caller poses a simple question in hopes of prompting you to respond with the word “yes.” If you answer, it can lead to more calls from scammers
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Banking apps are meant to simplify your financial life, but there are vulnerabilities to keep in mind. Some scammers develop fake banking apps designed to grab your personal or financial information and then commit fraud. Before you use a banking app like Venmo, Zelle or Cash App, be sure to verify that the app is
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Every year, more than a million Americans report being victimized by identity theft. This crime occurs when somebody nabs your personal or financial information without your permission, and potentially uses it to make purchases or open accounts in your name. Fortunately, you can take steps to help avoid identity theft. Let’s go over 11 ways
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Homeowners who want to borrow money without refinancing their mortgage may turn to a home equity line of credit, or HELOC. The option can be particularly attractive if you have a low-rate mortgage but want to tap the equity they’ve built in their home. However, you also need to watch out for fraudsters who want
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Perhaps the biggest purchase you’ll ever make is a house, representing an investment that’s likely worth hundreds of thousands of dollars. Given how much value our homes hold, it’s no wonder some crooks target homebuyers for real estate identity theft in hopes of reaping loads of money. Real estate identity theft can put you in
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Identity theft is widespread. In 2022, the Federal Trade Commission received 1.1 million consumer complaints about identity theft, with credit card fraud making up the biggest category. Yet far more people, an estimated 15.5 million U.S. adults, were victims of identity fraud in 2022, according to Javelin Strategy & Research. In some cases, identity theft
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If you lost money in the cryptocurrency implosion, crypto-recovery scammers would love to add to your losses. The crypto industry’s complexity, lack of regulation and abundant cash have proven irresistible to resourceful, technically sophisticated fraudsters. Following the 2022 crypto crash, criminals added bogus crypto recovery services to the list of ploys they use for emptying
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Peer-to-peer payment platforms and apps can be a secure, fast and easy way to send and receive payments, but you want to be aware of the risks. Even if you don’t have to worry about the platform itself being hacked, many scammers use these apps to trick people into sending them money. And, if you
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Credit repair organizations might promise quick fixes that will remove negative marks from your credit history and increase your credit scores. But some credit repair companies are landing clients in hot water instead. Over the years, the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) have filed complaints and taken actions against credit
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To increase security, many companies now require you to enter a code that’s texted to your phone when you try to log in from a new device or make changes to your account. It’s an important security feature called multi-factor authentication that can keep hackers and fraudsters out of your account—but it could also backfire.
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Selling your home is an exciting and frenzied process, but it’s one that’s full of steps that could potentially put you at risk of identity theft. Listing your home online, hosting an open house and communicating sensitive information to your real estate team can all expose your personal information. But it’s possible to protect your
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A bank safe deposit box can help you protect important documents, sentimental objects and valuables from fire and theft. Whether or not you need a safe deposit box comes down to your personal situation, but in many cases, safe deposit boxes aren’t necessary. Their usefulness for safekeeping objects may be outweighed by their lack of
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