Archive for Financial Self Defense

admin | November 30, 2012
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Beware of Holiday Scams

Consumers around the country are gearing up for the holiday shopping season. Fraudsters are also preparing for the holiday season to prey upon unsuspecting consumers. Ongoing awareness of these holiday scams is critical to help members protect their personal and financial information this holiday season.

Risk Prevention Tips

  • Secure home computers and mobile devices: Members should ensure their home computers are secured with a firewall and antivirus software before performing any online transactions. Operating system patches should be downloaded when made available by software vendors. Members should also protect mobile devices (mobile phones, tablets, etc.) used to conduct online transactions by installing antivirus software.
  • Phishing scams: Members should not respond to emails, text messages, and phone calls that advertise the sale of gift cards, holiday gifts, promotions, contests and jobs.
  • Be wary of holiday offers for free items: Members should avoid tempting holiday offers, such as free downloadable applications for smartphones, antivirus software, screen savers, ring-tones and electronic greeting cards, which may be infected with viruses and/or malware.
  • Be wary of shopping online at Craigslist and public auction sites: Members might purchase merchandise that is never delivered. Members should follow the best practices published by Craigslist and other public auction websites to avoid scams.
  • Be wary of social media scams: Fraudsters often place bogus advertisements for free prizes on social media sites. Members should be instructed to not respond to these advertisements.
  • Bogus charity scams: Members should confirm the legitimacy of the charity through the Better Business Bureau.
  • Monitor accounts: Members should periodically monitor their deposit and credit card accounts to identify any unauthorized transactions. Members should be instructed to immediately report unauthorized transactions to the credit union.

Report scams to the Federal Trade Commission at www.ftc.gov or call toll-free 1-877-FTC-HELP (1-877-382-4357).

Category: Financial Self Defense, Personal Finance |
nasafcu | June 4, 2012
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Avoid Home Improvement Scams

It’s home improvement time again.

And someone with a pickup truck and a smile knocks on your door, mentions something on your home improvement to-do list, and offers to do it at a cost that seems almost too good to be true.

Steps to Avoid Home Improvement Scams

Before Hiring a Contractor:

  1. Verify the contractor has liability insurance.  If the contractor or his employees cause damage to your property, this ensures that he can make good on any damages.
  2. Require a license number.  If a worker gets injured on the job, and worker compensation insurance isn’t in place, that worker could sue both the employer and you, the property owner, for damages.
  3. Check References.  Reputable contractors with a good track record will have references from prior jobs.

Following these three steps will help you to avoid home improvement scams. Using licensed contractors and checking references is a smart move, and it protects you against unwanted liability when things don’t go as planned.

Category: Financial Self Defense, Home Finance | Tags: