Identity Theft
What should you do if you suspect your identity has been stolen?
Contact the proper authorities and report the theft.
What should a student do if they suspect they are a victim of financial aid fraud?
Report it to the financial aid office
Which type of fraud involves using someone else's identity to make unauthorized transactions?
Identity Theft
Why is it important to use strong passwords on social media?
To enhance account security
What is the primary purpose of fraud prevention?
To prevent financial losses before they happen/ to not get scammed
Which piece of information is most critical for an identity thief?
Social Security Number
Name a sign of potential financial aid fraud?
Receiving unexpected emails requesting personal information
A scholarship offer without an application
Being asked to pay a fee for financial aid counseling
Which scheme involves recruiting people to make an investment and requiring them to recruit others?
Pyramid Scheme
What should you do if you suspect a friend’s account has been hacked?
Inform them through a different communication method
Why is it important to monitor financial accounts regularly?
To detect unauthorized transactions early
What is online phishing?
a cybercrime where attackers impersonate a trusted entity, like a company or person, to trick victims into revealing sensitive information
What is identity theft in the context of financial aid fraud?
Using someone else's identity to apply for aid
What is the term for a scheme where an investor is paid returns from their own money or new investors' money rather than profits earned?
Ponzi Scheme
What is "catfishing" in social media scams?
Using a false identity to deceive people
What role does encryption play in fraud prevention?
It ensures data is securely stored and transmitted
What should you do before clicking on a link in an email?
Verify the sender and check for phishing signs.
What is a legitimate source to learn about financial aid opportunities?
Official government websites
What type of fraud involves using a front/ fake company to conceal the origins of money made illegally?
Money Laundering
What is a giveaway scam?
A scam promising prizes for personal information
Why is it important to regularly update security software?
It helps protect against the latest fraud tactics
What is a data breach?
An incident where personal data is accessed without authorization.
Which agency should be contacted in case of financial aid fraud?
Federal Student Aid (FSA)
What is the term for falsifying documents to obtain funds under false pretenses?
Forgery
Why is it important to keep your social media profiles private?
To control who can see your posts and personal information
Which organization is typically responsible for investigating large-scale fraud?
Federal Trade Commission (FTC)