While the best solution may be to avoid paper checks completely––using fast and flexible digital payments instead––that may not always be possible. Here's what you need to know on how to identify, report, and prevent check fraud to keep you and your customers safe. Key takeaways Ch...
How can you spot _ and avoid _ affinity fraud? There's no set answer because the frauds vary based on who is being targeted. But here are some tips on what to do when approached with a "deal." Ask for information in writing. Scamsters usually try to avoid making promises in writing ...
Know fraud when you see it Here are some common scenarios that can help you spot fraud: Fraud prevention tip:Do not provide access codes, personal and financial information via email, text or to unsolicited callers. Bank of America will never call you to ask you for this information. If ...
Despite the number of services that have gone digital, check fraud is still a major concern. According to data from the Federal Trade Commission (FTC), there were more than 40,000 fake check scams and foreign money offers in 2022.And the financial losses from these scams amounted to more t...
Time fraud:This is a more deliberate action where an employee intentionally and significantly falsifies their reported working hours, such as logging a nonexistent shift. Time fraud is considered more serious. It can aggressively hurt a business’s finances, and it can also lead to legal action ...
However, these federal grant funds are susceptible to various forms of scams. Scam artists have found ways to potentially lure you to part with your hard-earned money, while you will be left nothing in return. Here's how to detect a potential scam and avoid being victimized: ...
It’s not always easy to spot fraud, but the tips above can help you avoid being the victim of a scam artist. Share this information with your employees, too, so they’re less likely to put your business at risk. Remember, you always have the power to hang up the phone, delete the...
Here are five steps to help spot, avoid, and report phishing attempts. Step 1: Be alert. Know the phishing warning signs. Phishing messages can use Artificial Intelligence (AI) to skillfully imitate your bank, a government agency, or another organization you recognize or trust. ...
Regardless of other precautions that you take to avoid skimming, always hide the PIN pad as you type in your code. 7. Check your monthly statements Getting into the habit of regularly reviewing your financial records can help you spot early signs of fraud. Every month, study your bank and ...
Fraud Involving Investment or Business Opportunities The adage "if something sounds too good to be true, then it probably is" is one to remember for anyone venturing into investing in general. This is especially true for cryptocurrencies. Countless profit-seeking speculators turn to misleading websi...