Credit card fraud has become a big problem nationwide, as millions of Americans become victims of the crime every year. …
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credit fraud
While frequent data breaches may have desensitized some consumers to identity theft, it’s still important to pay attention to early …
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The biggest bank in Russia recently began rolling out ATMs that come with voice recognition software designed to reduce the …
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But if you were to apply with this seemingly authentic lender, it would be a nightmare. Brookfield Lending is a cover for an advanced-fee loan scam. If you contacted them, they supposedly approve your loan and would ask you to wire a deposit or insurance payment. After you sent your hundreds or thousands of dollars, you’d never hear from them again.
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American Express, Discover, MasterCard and Visa reported a 9.3% increase in credit card fraud losses from 2005 to 2006. Setting a new record, the issuers lost $1.24 billion to credit card fraud according to The Nilson Report. This number doesn’t include debit cards or fees passed on to merchants.
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We’ve been talking all week about the most common and heinous scams of 2006. As we near the end of National Consumer Protection Week, let’s see who gets your vote for the worst credit criminal of 2006. In our definition, credit criminals are the scammers, con artists and general bottom-feeders who try to steal from innocent consumers using deception. Cast your vote today!
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Some states that do allow credit freezes don’t allow just any consumer to freeze his or her credit (to date: Hawaii, Kansas, South Dakota, Texas and Washington state). In those states, only consumers who can provide evidence of identity theft are permitted to freeze their credit. The first evidence of identity theft sometimes surfaces as a mortgage loan fraudulently taken out in your name, Higgins’s case being a perfect example. However, by the time such credit fraud is discovered, the genie is out of the bottle.
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