Fraud That Finds You

Fraud That Finds You BEWARE! Red Flags to Watch for: • A lender who isn't interested in your credit history. Fees that are not disclosed clearly or prominently. If a lender says they won't check your credit history. A lender who uses a copy-cat or wanna-be name. A lender who is not registered in your state. A lender who asks you to wire money or pay an individual. Fraud contact methods (can be by more than one method) Common Scams And Prevention THE ADVANCE FREE LOAN e-mail |74% Scammers know you may have few options for new credit. This scam works when you are guaranteed a loan if only you pay an upfront "processing" fee. webpage 29% phone contact 15% physical mail 8% INFORMATION MINING SCAM In this scam, your identity and banking information is stolen: Your credit is bad and a legitimate sounding company approaches you for a loan. They will request all your private info, and as soon as you send it you are scammed. chat rooms | 2% in-person | 2% CONTRACTOR/HOME IMPROVEMENT LOAN SCAM This scam begins with a contractor offering to do improvements and they happen to know a lender that can help you get a loan. They make you sign many documents and hope you don't notice that you have signed a home equity loan. When you can't make the outrageous payments, the take your house. Federal Trade Commission (FTC) Complaints 2000-2009 1,200,000 Other Identity theft Fraud Total complaints 1,000,000 800,000 600,000 400,000 200,000 2006 Fraud Complaints per 100,000 people The FBI Tracks TMENT Internet Fraud at the Internet Crime Complaint Center INVET Washington (105.95) Oregon (101.03) Nevada (113.07) California (95.09) Colorado (135.46) Maryland (111.60) D.C. (119.63) Arizona (101.46) Florida (95.25) Alaska (337.61) Amount Lost by Selected Fraud Type for Individuals Reporting Monetary Loss 7.8% 14.4% 5.2% 3.8% 28.6% 16.3% 4.7% Black numbers - % of reported total loss Yellow numbers - of those who reported a loss the average (median) $ loss per complaint 2000 2001 2002 2003 2004 2005 2007 Sources: FTC, Internet Crime Complaint Center 2008 2009 Fraud That Finds You BEWARE! Red Flags to Watch for: • A lender who isn't interested in your credit history. Fees that are not disclosed clearly or prominently. If a lender says they won't check your credit history. A lender who uses a copy-cat or wanna-be name. A lender who is not registered in your state. A lender who asks you to wire money or pay an individual. Fraud contact methods (can be by more than one method) Common Scams And Prevention THE ADVANCE FREE LOAN e-mail |74% Scammers know you may have few options for new credit. This scam works when you are guaranteed a loan if only you pay an upfront "processing" fee. webpage 29% phone contact 15% physical mail 8% INFORMATION MINING SCAM In this scam, your identity and banking information is stolen: Your credit is bad and a legitimate sounding company approaches you for a loan. They will request all your private info, and as soon as you send it you are scammed. chat rooms | 2% in-person | 2% CONTRACTOR/HOME IMPROVEMENT LOAN SCAM This scam begins with a contractor offering to do improvements and they happen to know a lender that can help you get a loan. They make you sign many documents and hope you don't notice that you have signed a home equity loan. When you can't make the outrageous payments, the take your house. Federal Trade Commission (FTC) Complaints 2000-2009 1,200,000 Other Identity theft Fraud Total complaints 1,000,000 800,000 600,000 400,000 200,000 2006 Fraud Complaints per 100,000 people The FBI Tracks TMENT Internet Fraud at the Internet Crime Complaint Center INVET Washington (105.95) Oregon (101.03) Nevada (113.07) California (95.09) Colorado (135.46) Maryland (111.60) D.C. (119.63) Arizona (101.46) Florida (95.25) Alaska (337.61) Amount Lost by Selected Fraud Type for Individuals Reporting Monetary Loss 7.8% 14.4% 5.2% 3.8% 28.6% 16.3% 4.7% Black numbers - % of reported total loss Yellow numbers - of those who reported a loss the average (median) $ loss per complaint 2000 2001 2002 2003 2004 2005 2007 Sources: FTC, Internet Crime Complaint Center 2008 2009 Fraud That Finds You BEWARE! Red Flags to Watch for: • A lender who isn't interested in your credit history. Fees that are not disclosed clearly or prominently. If a lender says they won't check your credit history. A lender who uses a copy-cat or wanna-be name. A lender who is not registered in your state. A lender who asks you to wire money or pay an individual. Fraud contact methods (can be by more than one method) Common Scams And Prevention THE ADVANCE FREE LOAN e-mail |74% Scammers know you may have few options for new credit. This scam works when you are guaranteed a loan if only you pay an upfront "processing" fee. webpage 29% phone contact 15% physical mail 8% INFORMATION MINING SCAM In this scam, your identity and banking information is stolen: Your credit is bad and a legitimate sounding company approaches you for a loan. They will request all your private info, and as soon as you send it you are scammed. chat rooms | 2% in-person | 2% CONTRACTOR/HOME IMPROVEMENT LOAN SCAM This scam begins with a contractor offering to do improvements and they happen to know a lender that can help you get a loan. They make you sign many documents and hope you don't notice that you have signed a home equity loan. When you can't make the outrageous payments, the take your house. Federal Trade Commission (FTC) Complaints 2000-2009 1,200,000 Other Identity theft Fraud Total complaints 1,000,000 800,000 600,000 400,000 200,000 2006 Fraud Complaints per 100,000 people The FBI Tracks TMENT Internet Fraud at the Internet Crime Complaint Center INVET Washington (105.95) Oregon (101.03) Nevada (113.07) California (95.09) Colorado (135.46) Maryland (111.60) D.C. (119.63) Arizona (101.46) Florida (95.25) Alaska (337.61) Amount Lost by Selected Fraud Type for Individuals Reporting Monetary Loss 7.8% 14.4% 5.2% 3.8% 28.6% 16.3% 4.7% Black numbers - % of reported total loss Yellow numbers - of those who reported a loss the average (median) $ loss per complaint 2000 2001 2002 2003 2004 2005 2007 Sources: FTC, Internet Crime Complaint Center 2008 2009 Fraud That Finds You BEWARE! Red Flags to Watch for: • A lender who isn't interested in your credit history. Fees that are not disclosed clearly or prominently. If a lender says they won't check your credit history. A lender who uses a copy-cat or wanna-be name. A lender who is not registered in your state. A lender who asks you to wire money or pay an individual. Fraud contact methods (can be by more than one method) Common Scams And Prevention THE ADVANCE FREE LOAN e-mail |74% Scammers know you may have few options for new credit. This scam works when you are guaranteed a loan if only you pay an upfront "processing" fee. webpage 29% phone contact 15% physical mail 8% INFORMATION MINING SCAM In this scam, your identity and banking information is stolen: Your credit is bad and a legitimate sounding company approaches you for a loan. They will request all your private info, and as soon as you send it you are scammed. chat rooms | 2% in-person | 2% CONTRACTOR/HOME IMPROVEMENT LOAN SCAM This scam begins with a contractor offering to do improvements and they happen to know a lender that can help you get a loan. They make you sign many documents and hope you don't notice that you have signed a home equity loan. When you can't make the outrageous payments, the take your house. Federal Trade Commission (FTC) Complaints 2000-2009 1,200,000 Other Identity theft Fraud Total complaints 1,000,000 800,000 600,000 400,000 200,000 2006 Fraud Complaints per 100,000 people The FBI Tracks TMENT Internet Fraud at the Internet Crime Complaint Center INVET Washington (105.95) Oregon (101.03) Nevada (113.07) California (95.09) Colorado (135.46) Maryland (111.60) D.C. (119.63) Arizona (101.46) Florida (95.25) Alaska (337.61) Amount Lost by Selected Fraud Type for Individuals Reporting Monetary Loss 7.8% 14.4% 5.2% 3.8% 28.6% 16.3% 4.7% Black numbers - % of reported total loss Yellow numbers - of those who reported a loss the average (median) $ loss per complaint 2000 2001 2002 2003 2004 2005 2007 Sources: FTC, Internet Crime Complaint Center 2008 2009 Fraud That Finds You BEWARE! Red Flags to Watch for: • A lender who isn't interested in your credit history. Fees that are not disclosed clearly or prominently. If a lender says they won't check your credit history. A lender who uses a copy-cat or wanna-be name. A lender who is not registered in your state. A lender who asks you to wire money or pay an individual. Fraud contact methods (can be by more than one method) Common Scams And Prevention THE ADVANCE FREE LOAN e-mail |74% Scammers know you may have few options for new credit. This scam works when you are guaranteed a loan if only you pay an upfront "processing" fee. webpage 29% phone contact 15% physical mail 8% INFORMATION MINING SCAM In this scam, your identity and banking information is stolen: Your credit is bad and a legitimate sounding company approaches you for a loan. They will request all your private info, and as soon as you send it you are scammed. chat rooms | 2% in-person | 2% CONTRACTOR/HOME IMPROVEMENT LOAN SCAM This scam begins with a contractor offering to do improvements and they happen to know a lender that can help you get a loan. They make you sign many documents and hope you don't notice that you have signed a home equity loan. When you can't make the outrageous payments, the take your house. Federal Trade Commission (FTC) Complaints 2000-2009 1,200,000 Other Identity theft Fraud Total complaints 1,000,000 800,000 600,000 400,000 200,000 2006 Fraud Complaints per 100,000 people The FBI Tracks TMENT Internet Fraud at the Internet Crime Complaint Center INVET Washington (105.95) Oregon (101.03) Nevada (113.07) California (95.09) Colorado (135.46) Maryland (111.60) D.C. (119.63) Arizona (101.46) Florida (95.25) Alaska (337.61) Amount Lost by Selected Fraud Type for Individuals Reporting Monetary Loss 7.8% 14.4% 5.2% 3.8% 28.6% 16.3% 4.7% Black numbers - % of reported total loss Yellow numbers - of those who reported a loss the average (median) $ loss per complaint 2000 2001 2002 2003 2004 2005 2007 Sources: FTC, Internet Crime Complaint Center 2008 2009 Fraud That Finds You BEWARE! Red Flags to Watch for: • A lender who isn't interested in your credit history. Fees that are not disclosed clearly or prominently. If a lender says they won't check your credit history. A lender who uses a copy-cat or wanna-be name. A lender who is not registered in your state. A lender who asks you to wire money or pay an individual. Fraud contact methods (can be by more than one method) Common Scams And Prevention THE ADVANCE FREE LOAN e-mail |74% Scammers know you may have few options for new credit. This scam works when you are guaranteed a loan if only you pay an upfront "processing" fee. webpage 29% phone contact 15% physical mail 8% INFORMATION MINING SCAM In this scam, your identity and banking information is stolen: Your credit is bad and a legitimate sounding company approaches you for a loan. They will request all your private info, and as soon as you send it you are scammed. chat rooms | 2% in-person | 2% CONTRACTOR/HOME IMPROVEMENT LOAN SCAM This scam begins with a contractor offering to do improvements and they happen to know a lender that can help you get a loan. They make you sign many documents and hope you don't notice that you have signed a home equity loan. When you can't make the outrageous payments, the take your house. Federal Trade Commission (FTC) Complaints 2000-2009 1,200,000 Other Identity theft Fraud Total complaints 1,000,000 800,000 600,000 400,000 200,000 2006 Fraud Complaints per 100,000 people The FBI Tracks TMENT Internet Fraud at the Internet Crime Complaint Center INVET Washington (105.95) Oregon (101.03) Nevada (113.07) California (95.09) Colorado (135.46) Maryland (111.60) D.C. (119.63) Arizona (101.46) Florida (95.25) Alaska (337.61) Amount Lost by Selected Fraud Type for Individuals Reporting Monetary Loss 7.8% 14.4% 5.2% 3.8% 28.6% 16.3% 4.7% Black numbers - % of reported total loss Yellow numbers - of those who reported a loss the average (median) $ loss per complaint 2000 2001 2002 2003 2004 2005 2007 Sources: FTC, Internet Crime Complaint Center 2008 2009