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Fraudster Ticks - Those Sly Devils

Posted By George (Clint) Frederick CPA PLLC, George Frederick CPA PLLC, Wednesday, May 4, 2016

Was that really the ‘Wrong Number’? Have you ever called your bank and received a recording to enter your account number, then to enter your account passcode, then your date of birth to verify your account, followed by the last 4 digits of your social security number… and then the recording goes blank? If so you have been hacked. The fraudster really does not need all of that information. The first two – account number and any of the other information will allow a fraudster enough information to hack your account. How do the thieves do it?

Here is an example. If you Google the customer service number for say Wells Fargo Bank, you will get a number 800-869-3557. Fraudsters will buy up numbers that are very similar to the customer number, say 800 -869-3555 – easy enough to misdial the number. The scoundrels buy up numbers that are the same except for one digit. When you call the number, you get a recording asking for personal information.
A variation of the swindle. You receive a call from your bank telling you there is a problem with your account instructing you to call a certain number. That number could be a call to the thief. I am using the term ‘bank’, but it applies also to credit cards and for that matter the Internal Revenue Service.

How do you avoid the swindle? First, call the number on the back of your bank or credit card. Be sure of the website where you get the customer service number. These are the tips from the May/June issue of FRAUD Magazine published by the Association of Certified Fraud Examiners. The article also noted as I have mentioned before, IRS swindles are on the rise despite efforts and advertising by the IRS of the frauds perpetuated.

There has been a 400% increase in IRS fraud activity. Just note – the IRS will not call or email you. All correspondence will come by way of the US Postal Service.

Tags:  banks  credit  fraud  IRS  small business 

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