Consumer Reports: Worst scams in America
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The overall economy may be struggling, but the fraud business is booming. Complaints about scams and identity theft are up sharply.
Our news partners at Consumer Reports focused on fraud for their October issue. And they found that the bad guys are cleverly exploiting all kinds of new technology to rip YOU off.
Susan Feinberg was stunned to find out that criminals had raided her home-equity line of credit by pretending to be her.
"We discovered that they had cashed checks for $17,000," she said.
Feinberg Isn't sure how the crooks got crucial information like her social security number and mother's maiden name. but frequently people are fooled into sharing those details online.
Kim Kleman, editor-in-chief of Consumer Reports says many of America's worst scams tap into ever-changing technology.
"We've cautioned against phishing e-mails that trick you to reveal your personal information. But now scammers have figured out how to lure you on your cell phone," she said.
It's called smishing - a phony link from bogus text message appears to be from a major retailer. It offers a free gift, like a $1,000 gift card.
Their goal is to grab your personal information.
Even e-mail phishing scams have gotten more sophisticated. They're designed to look like a flight confirmation email from your airline or an invoice from ups or the postal service.
"Old-fashioned scams also work. We found plenty that come in the mail, as a knock on the door, or over the phone."
For instance, callers who say they're from a reputable company offer to slash your credit-card interest rate or fix a computer virus they've detected.
All you need to do is pay a fee or disclose sensitive financial information. Kleman says don't do it.
"Bottom line: Never, ever give out your personal information or money to someone who seeks you out," she said.
And beware of the recovery scam. People who've lost money to a con artist are often targeted by another scam - crooks who promise to recover the stolen money.
They charge hundreds of dollars and never recover your losses.
More information:
Protect Yourself From the Latest Scams
Our news partners at Consumer Reports focused on fraud for their October issue. And they found that the bad guys are cleverly exploiting all kinds of new technology to rip YOU off.
Susan Feinberg was stunned to find out that criminals had raided her home-equity line of credit by pretending to be her.
"We discovered that they had cashed checks for $17,000," she said.
Feinberg Isn't sure how the crooks got crucial information like her social security number and mother's maiden name. but frequently people are fooled into sharing those details online.
Kim Kleman, editor-in-chief of Consumer Reports says many of America's worst scams tap into ever-changing technology.
"We've cautioned against phishing e-mails that trick you to reveal your personal information. But now scammers have figured out how to lure you on your cell phone," she said.
It's called smishing - a phony link from bogus text message appears to be from a major retailer. It offers a free gift, like a $1,000 gift card.
Their goal is to grab your personal information.
Even e-mail phishing scams have gotten more sophisticated. They're designed to look like a flight confirmation email from your airline or an invoice from ups or the postal service.
"Old-fashioned scams also work. We found plenty that come in the mail, as a knock on the door, or over the phone."
For instance, callers who say they're from a reputable company offer to slash your credit-card interest rate or fix a computer virus they've detected.
All you need to do is pay a fee or disclose sensitive financial information. Kleman says don't do it.
"Bottom line: Never, ever give out your personal information or money to someone who seeks you out," she said.
And beware of the recovery scam. People who've lost money to a con artist are often targeted by another scam - crooks who promise to recover the stolen money.
They charge hundreds of dollars and never recover your losses.
More information:
Protect Yourself From the Latest Scams
I'm not sure about a SS# but it's pretty easy to find out someone's mother's maidan name, kids names, birthdays and a host of other 'personal' information facts.