Friday, June 7, 2024

Fraud Prevention

Last week we attended a class on how to prevent Fraud. There were about 40 seniors who attended the class presented by Investigator Andrew Guest of the Simpsonville Police Department. We learned how to prevent falling victim to fraud and scams. It was well worth the 90 minutes that we spent in this session! Here are some of my takeaways from the session. 

  1. Americans lose $300-$600 billion a year in financial crimes. 

  2. Isolation, pressure and personal need - 3 things victims have in common. 

  3. Types of fraud or scams: 

    1. Skimmers

    2. overpayment scam

    3. Romance Scams

    4. Pig Butchering

    5. Grandparent Scams

    6. Prize Scams

    7. Government Impersonation Scams

    8. Warranty Scams

    9. Counterfeit Medication

    10. Rental Home Scams

    11. Nigerian “419” Schemes

    12. Pyramid Schemes

    13. Ransomware

    14. Blackmail/Extortion/Sextortion

    15. Securities fraud/Investment fraud

  4. Watch for grammar and spelling errors in letters and emails. 

  5. Scams are easy to avoid!

    1. Just hang up!

    2. They tell you not to contact the police. 

    3. Don’t be pressured. 

    4. Don’t give out too much personal information. 

    5. Shred old documents. 

    6. Don’t put checks in your mailbox. 

  6. If it’s too good to be true, it probably is a scam. 

  7. When in doubt, check with the police. 





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