TYPES OF FRAUD

Fraud continues to increase quickly due to constantly changing technology. One example is the
Grandparent Scam. An elderly person is contacted by phone by a person who says he or she is
the grandchild. The caller uses social media to find out some details that make the story
convincing. The caller says he or she is very sick, or in the hospital, or traveling far away, and
needs money immediately. The real motive might be to get money or to obtain personal
banking information.

Another type of computer fraud is known as phishing," or trying to obtain financial information
by impersonating a bank employee. When this kind of fraud takes place, you receive email
messages from someone pretending to represent your bank. You are then asked to provide
your account number or other identifying information. This kind of deception seems so real
that many people respond to it and give away their financial and personal information.

The telephone is also used by con men and women who try to impress people with amazing
prizes and offers. Sometimes they will call and ask for your banking information so that they
can put prize money into your account. If you do not trust a person contacting you by phone,
ask for his or her name, business phone number, and company address. You can then contact
the company yourself to learn whether or not you have reason to be suspicious.

Modern communications technology has made it easier for people to trick you with fake deals
and requests for information. When you go online, you find many websites offer- ing products
and services such as medical treatment and legal advice. How can you know if something is
real? Fortunately, there are many organizations that can help you make sure that companies
and individuals are treating you with honesty. If you believe that you are involved in a case of
fraud, be sure to report it and ask for help.