Credit Repair Credit Cards

5 Killer Steps to avoid Credit Card Scams/Credit Repair Scams

Admin — Wed, 19 Jan 2005 02:28:34 -0800

5 Killer Steps to avoid Credit Card SCAMS!!!!!
by: Tom Levine

In August, 2004, the Federal Trade Commission issued their findings of a recent study, which showed that nearly 25 million adults were victims of fraud.

Now, most importantly, If you are a victim of fraud, please do not feel like you did anything wrong. It happens to all of us at one point or another, as the FTC’s study clearly shows. Everyone likes a magic trick, and none of us are fully capable of noticing the con-artists’ slight of hand. So, if you’re a victim, take a deep breath. ...

The Biggest Consumer Credit Scams

Admin — Sat, 11 Dec 2004 13:25:53 -0800

Credit Repair Companies

A lot of people are turning to what are called "Credit Repair Companies" you probably have seen advertisements for this credit repair service in the media. What they offer consumers is a credit sweep, which they say can remove negative information off of your credit report.

For this service they typically will charge a fee anywhere from $29.00 a month to over a thousand dollars up front.

Most of these services can be done by the consumers themselves. Some of the services that these credit repair companies claim, cannot be done legally. Accurate negative information can not be ...

Credit Card Scams- Most Reported Types Of Fraud

Admin — Wed, 08 Dec 2004 01:46:47 -0800

Credit card scams happen all over the U.S. and are the most frequently reported fraud in the U.S. Another credit card scam victim in Lubbock Texas.

Article by Stacia Willson, Read Full Article Here:

More Credit Card Fraud Dozens Arrested In Fraud Scheme

Admin — Tue, 07 Dec 2004 04:13:08 -0800

Newsday.com - State/Region News
NEWARK, N.J. -- More than two dozen suspects have been arrested in a credit theft ring that operated in New York and New Jersey, the Hudson County Prosecutor announced Monday.

Prosecutor Edward J. DeFazio said the ring involved the theft of credit card numbers, which were used to create counterfeit credit cards and matching alternative identification with fictitious names. The bogus cards were used to purchase merchandise that was then "fenced," or resold for cash, at half the original cost.

Click here for full story.

Another Credit Card Scam Called "Credit Card Skimming"

Admin — Tue, 07 Dec 2004 03:46:07 -0800

Credit card skimmer up in court - Breaking - http://www.smh.com.au/technology/

Australian Crime Commission (ACC) detective Greg McWilliam told the court that Teoh was "heavily involved" in a crime syndicate that could have cost Trinidad-based Scotiabank alone $100 million.

A malaysian man caught with 770 credit card numbers was part of a multi- million dollar fraud conspiracy.

Click here for full story

Phishing Scams - What is a Phishing Scam? Pronounced "Fishing Scam"

Admin — Wed, 17 Nov 2004 22:15:04 -0800

The Federal Reserve System along with thrift and credit union regulatory agencies are co-publishing and distributing a brochure with information to help consumers identify and combat a type of Internet scam known as "phishing."

The term is a play on the word "fishing," and that's exactly what Internet thieves are doing -- fishing for confidential financial information, such as account numbers and passwords. With enough information, a con artist can run up bills on another person's credit card or, in the worst case, even steal that person's identity.

In a common type of phishing scam, individuals receive e-mails that appear to come from their financial institution. The e-mail may look authentic, right down to the use of the institution's logo and marketing slogans. The e-mails often describe a situation that requires immediate attention and then warn that the account will be terminated unless the e-mail recipients verify their account information immediately by clicking on a provided link.

The link will take the e-mail recipient to a screen that asks for account information. While it may appear to be a page sponsored by a legitimate financial institution, the information will actually go to the con artist who sent the e-mail.

The federal financial regulatory agencies want consumers to know that they should never respond to such requests. No legitimate financial institution will ever ask its customers to verify their account information online.

The brochure also advises consumers:

Never click on the link provided in an e-mail if there is reason to believe it is fraudulent. The link may contain a virus.

Do not be intimidated by e-mails that warn of dire consequences for not following their instructions.

If there is a question about whether the e-mail is legitimate, go to the company's site by typing in a site address that you know to be legitimate.

If you fall victim to a phishing scam, act immediately to protect yourself by alerting your financial institution, placing fraud alerts on your credit files and monitoring your account statements closely.

Report suspicious e-mails or calls to the Federal Trade Commission through the Internet at www.consumer.gov/idtheft, or by calling 1-877-IDTHEFT.

The interagency brochure is available on each agency's web site and the Fed says it's encouraging financial institutions to download the camera-ready file for use in their own customer-education programs.