General Knowledge
Deliberate Deception, trickery or cheating intended to gain an advantage
Fraud
the art of exploiting human psychology, rather than technical hacking techniques, to gain access to buildings, systems or data.
Social Engineering
Scheme is one that attempts to boost the price of a stock through recommendations based on false, misleading or greatly exaggerated statements. The perpetrators of this scheme already have an established position in the company's stock and sell their positions after the hype has led to a higher share price
Pump & Dump Scheme
This type of check is assumed to be as good as cash, but they’re also being counterfeited to use in these scams.
Treasurer's Check/Bank Check/Official Check
Scammers prey on a victims __________ to get them to take action
Emotions
An email sent falsely claiming to be from a legitimate sender. The message usually contains a threat (account will be closed, payment is past due and action will be taken) or request for information (incomplete order/application, online credentials needed to complete a deposit or other transaction)
Phishing
A person who pretends to be someone else
Imposter
type of check fraud that occurs when someone purposely writes a check for more than they have and deposits it into a different account. Then, they use or earn interest on funds before the check can bounce. This process is illegal and relies on the time it takes for checks to clear (verifying the funds are available), which is usually around 3 days but can be longer for international checks.
Check Kiting
Loneliness often times entice someone to enter into this type of scam _________
Romance
Similar to phishing but by phone. Could be someone pretending to be from the financial institution, a utility company, the IRS, or some other government agency. There is usually a sense of urgency to obtain information from the victim. That should be a red flag.
Vishing
generally defined as fraud that occurs on an account within the first 90 days that it is open; often, are opened with the sole intent to commit fraud.
New account
Intentional or negligent acts by a caregiver or trusted individual that causes or can cause harm to a vulnerable senior.
Elder Abuse
laws were introduced in 2001 US Patriot Act, which was passed after 9/11/2001; however, “Know Your Customer” guidelines were part of a proposed regulations starting in December 1998.
Know Your Customer
A fraudulent text message sent from what appears to be a reputable company asking for information.
Smishing
Government Agency that you can report certain types of fraud/scams to
Federal Trade Commission
This type of deposit option is quick, convenient and popular - however, this technology can be used to rip off people and businesses and smartphones are making it easier to do so
Mobile Deposit
Computer based electronic network for processing transactions. Supports debits and credits and is a form of replacement for checks. Allows for faster processing of transactions but also faster processing of fraud
Automated Clearing House
schemes involve unscrupulous investors taking advantage of unsuspecting individuals by promising them extraordinary returns in exchange for their money.
Ponzi or Pyramid Scheme
Scammers will often invoke the name of a big, trusted organization to get consumers to give up information or take some kind of action - it typically comes through email from "Amazon" or "Paypal"
Spoofing
scams involve scammers pretending to be legitimate online sellers, either with a fake website or a fake ad on a genuine retailer site.
Online Shopping Scam