A fraud alert is a notice on a credit report warning of identity theft. Consumers can request one if they suspect they are at risk. It does not affect credit and lasts 90 days. An extended fraud report lasts seven years and requires proof of identity theft. A credit freeze limits access to a credit […]
Reporting email fraud is not straightforward as most countries lack a central collection point for such cases. Contact law enforcement and the affected company, and recognize scams to prevent them. Some types of email fraud in the US are handled by the Department of Justice. The media may be interested in unusual cases. Reporting fraud […]
Bank fraud can take many forms, but it is possible to identify and report it. Customers and bank employees can report suspicious activity, triggering an investigation that may involve law enforcement agencies and national trade agencies. Quick reporting is important to isolate the source of the fraud and prevent further victims. Bank fraud is an […]
Financial institution fraud includes check fraud and wire fraud, with criminals using various methods to obtain money. Banks and customers are turning to electronic transactions to combat check fraud, but this creates the risk of computer-assisted attacks. Wire fraud is often the result of phishing, where criminals send emails with clickable links to fake websites. […]
Consumer fraud can happen to anyone at any time, with new technologies making it easier for scammers. Credit card fraud, debt consolidation scams, pyramid schemes, and fake business opportunities are common types of fraud. Some older scams offer products or services that don’t work, while internet and email scams are on the rise. Knowledge is […]
Bankruptcy fraud is a federal crime in the US, with three methods of committing it: asset concealment, multiple filings, and petition mills. Convictions can result in a fine of up to $250,000 USD and/or up to five years in prison. Changes to bankruptcy law have resulted in an increase in cases of asset concealment fraud. […]
Escrow fraud can be avoided by using reputable escrow companies with good reputations, avoiding unknown companies, and being wary of sellers insisting on a particular service. Using shipping services with proof of delivery can help sellers avoid scams. Putting money in escrow usually works to keep both parties to a transaction secure and ensure that […]
