personal finance 6.04

A scammer has hacked into a computer to access their information

a. computer

Derek has been approached by a company making claims that he does not owe taxes this year even though he has been working for pay

a. tax

Brielle is researching tools in which to invest her money and has found one with guaranteed returns

b. investment

A scammer has attached a device to a gas pump to access credit card information

b. skimming

How does the federal government work to protect consumers?

by giving support when fraud occurs and sometimes giving consumers their money back

Kyler learned her identity had been used during an arrest, but she hadn't been arrested

c. identity theft

A scammer is using email to pretend to be your depository institution

c. phishing

Zander received an email asking him to pay money to rescue individuals in a foreign country. After further research, he discovered this organization did not exist

d. communications

A scammer uses information that was carelessly discarded in the trash

d. stealing

Jada is considering re‐financing her home and received an ad from a company offering staggeringly low interest rates

e. credit

A scammer has completed a change of address form for an individual's financial statements

e. diverting mail

If you were to advise someone about the warning signs of fraud, what are two pieces of advice you would provide to them?

- check for transactions you didn't make - don't give out personal information over phone or email

Neema has joined several social networking websites. What are three things she should do to protect herself from fraud?

- no personal information - check privacy settings - use difficult passwords

Xavier is considering purchasing a new tablet online; what are three steps he should take to protect himself from fraud?

- research reliability policies - anti-spyware - make sure the website is safe

Constantly monitor financial information to reduce your risk of fraud.

T

Consumers should access each of their three credit reports at least once per year.

T

Individuals should always purchase fraud protection if available.

T

A debit card should be used when making online purchases.

F

Once information is posted online, it can be easily deleted.

F