JSTUS
THE WARHORSES!!!
How do we protect ourselves from someone invading our finances? For example, think about how many people come in contact with your banking information and your credit card info.
Your personal checks have your account number and routing number on the bottom. These numbers are all that it takes to do a check by phone to pay for anything, to do Paypal for anything, to do automatic bank drafts for bills. All that is needed are those numbers. When you write a check in a store, to a bill collector, you are giving that recepient and anyone else who comes in contact with that check all that is needed to deplete your account.
When you pay for things via credit card, your card is swiped or an imprint made, with your card number and expiration date on the copy. Those numbers are all that is needed to make an online purchase, an over the phone purchase or bill payment, or travel reservations. Each time it is used whoever you reveal that info to has all that is needed to use it like you do. When you sign that credit card copy at the restaurant and leave the copy on the table for the waiter, anyone can walk by and get your info.
There was a time when we were protected because IDs were checked when checks were written or credit cards were used. With today's technological advances, that is no longer a necessity.
One of my friends works for a major car rental company in their accounting dept. and they issued a refund check to a customer. The customer later used the numbers at the bottom of the check to start an AOL account and make several online purchases. No questions were asked but what are the numbers at the bottom of your checking account. If it can happen to a Fortune 500 company, it can happen to you and me.
So, how do we protect ourselves from being a victim of fraud and forgery?
Your personal checks have your account number and routing number on the bottom. These numbers are all that it takes to do a check by phone to pay for anything, to do Paypal for anything, to do automatic bank drafts for bills. All that is needed are those numbers. When you write a check in a store, to a bill collector, you are giving that recepient and anyone else who comes in contact with that check all that is needed to deplete your account.
When you pay for things via credit card, your card is swiped or an imprint made, with your card number and expiration date on the copy. Those numbers are all that is needed to make an online purchase, an over the phone purchase or bill payment, or travel reservations. Each time it is used whoever you reveal that info to has all that is needed to use it like you do. When you sign that credit card copy at the restaurant and leave the copy on the table for the waiter, anyone can walk by and get your info.
There was a time when we were protected because IDs were checked when checks were written or credit cards were used. With today's technological advances, that is no longer a necessity.
One of my friends works for a major car rental company in their accounting dept. and they issued a refund check to a customer. The customer later used the numbers at the bottom of the check to start an AOL account and make several online purchases. No questions were asked but what are the numbers at the bottom of your checking account. If it can happen to a Fortune 500 company, it can happen to you and me.
So, how do we protect ourselves from being a victim of fraud and forgery?
