Tag Archives: Consumer

National Consumer Protection Week: Protect Your Neighbors from Scams

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When you gather for Town Meeting day to tackle issues in your community, take a moment to spread the message about scams. By having a conversation with our neighbors, together we can work to stop scams.

Earlier this year, we released the top scams reported to our office in 2018.  This information is still up on our blog, which you can review here. Knowing the common scam categories can be useful in identifying scams, but this shouldn’t be the only information you share. Scams come in all different forms and adapt over time. During National Consumer Protection Week, you can commit to being scam savvy and sharing what you know with others.

Know the Signs to Spot Scams:

Remember:  If it’s too good to be true, it probably is!

Suspect:

  • Unsolicited Communications: If you didn’t ask for a contact, question why you are receiving it, even if you get something in the mail. Verify the info shared against information you know and trust. Classic unsolicited communications are computer tech support pop ups messages and phone calls.

  • Demands for Urgent Response: Scammers will demand a fast response from you to take advantage of the fact that you are busy. Anytime an immediate response is requested, slow down and take your time. It is in the urgency of the moment that people respond to scams. Imagine how a busy restaurant might respond to a sudden claim of electricity disconnection during the busy lunch hour.  The scam recipient may be more likely to respond for fear of losing lunch profits.

  • Requests for Personal Information: Shut down requests for such information by contacting a source you know and trust instead.  For a bank account, the phone numbers referenced in your statement may be a good resource; for a credit card the number on the back of your card is a good option. Never respond to requests to reset your password by clicking on link in your email. Never provide your information in response to unsolicited communications.

  • Requests for Payment:  Scammers have success in requiring odd forms of payment that are difficult to be tracked down, like gift cards, wire transfers, and peer to peer transaction services.

Gift Card Scams

How to Spot:  You are asked to pay outside of a vendor store/website by reading off the numbers on the back of the card or by taking a picture of the back of the card and sending it.

Common gift cards requested include:

  • Apple iTunes
  • Google Play
  • Walmart
  • Target

Remember: Unless you are using the card for the actual relevant company, do not pay with gift cards! Watch out for copycat websites too!


Wire Transfer Scams

How to Spot: You are asked to pay by wire transfer.

Common wire companies used:

  • Your bank!
  • Western Union
  • Money Gram
  • RIA Financial

Remember:  Sending a wire transfer is like sending cash! Never send a wire transfer to someone you don’t know!


Peer to Peer Payment Scams

How to Spot:  You are asked to pay using a P2P service. You may even already use this service to make other payments.

Common P2P companies used:

  • Paypal Friends and Family (No Paypal buyer purchase protection)
  • Facebook P2P in Messenger
  • Apple Pay
  • Venmo
  • Zelle
  • Cash App
mobile shopping

Remember:  Sending through P2P is typically instantaneous, leaving little room to make fraud disputes. Never use a P2P to send money to someone you don’t know!

Scammers want your money. They’ll adapt these methods, or resort to old methods of payment, like cash, check or money order. If you think you’ve encountered a scam, but aren’t sure, call our office at 800-649-2424. Find out more from the FTC.

By sharing this information and your general awareness about scams with others, you can help stop scams! To become more informed, you can sign up for Scam Alerts on our website, connect with our office on social media, and invite others to follow us.  Always hang up on scammers. For even more information about scams, visit our website.

Contributing Writer: Crystal Baldwin

National Consumer Protection Week: Used Car Buying Guidance

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It’s National Consumer Protection Week! Check in all week for consumer information you should know.

Today, we’re informing consumers about buying a car. Buying a car is often one of the largest purchases made in a consumer’s life. Its vital consumers take the time to review and research their options prior to purchasing a car. These online guides can help:

It’s important to thoroughly check out any vehicle you intend to buy, including its warranty! On dealer sold used cars, the Buyer’s Guide informs about warranty coverage. There are many types of warranties and they vary in the amount of coverage they provide. A car may be sold without a warranty, so it’s important to check this out.

In an effort to encourage you to know before you go car shopping, you can call the Consumer Assistance Program at 800-649-2424.

Finally, if you have concerns about a car purchase, you may also contact the Consumer Assistance Program to discuss complaint options. CAP may provide complaint mediation, refer to agencies and organizations that may help, or provide an attorney referral, such as to the Vermont BAR Association’s Referral Service (800-639-7036) or to Vermont Legal Aid (800-889-2047).

Protect Your Credit: Get a Free Freeze

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Credit on ice

Under the Economic Growth, Regulatory Relief and Consumer Protection Act, credit freezes are free of charge to anybody, regardless of whether or not they are victims of identity theft. This new law requires credit-reporting agencies to eliminate the cost of credit freezes, credit unfreezes (thaws) and yearlong fraud alerts to consumers.

Website Required:  The three major credit bureaus, Equifax, TransUnion, and Experian must design a website, where consumers can go to request this credit protection. The sites must also provide the ability to opt-out of receiving solicitations in the mail for insurance or credit card approval.

Protection for Children: The act allows guardians to request on behalf of children younger than 16 years old to freeze their credit.

Military Credit Offers: Members of the military with access to active duty alerts can request to remove their name from prescreened credit card offers for two years.


Why Should You Consider a Credit Freeze?

Identity theft is a type of fraud, which can be extremely detrimental to your financial and personal well-being. Identity theft often occurs when a bad actor gets access to your social security number or financial account number. Many consumers believe they won’t become targets for identity theft, because:

  • The odds are slim and assume it won’t happen to them.
  • They don’t have much money in their bank accounts to steal.
  • They don’t have credit cards and assume this means they don’t have a credit history.
  • They don’t have a poor credit history and believe a scammer will not benefit from having their information.

These arguments do NOT prevent bad actors from opening accounts using your information. The main concern is not the money you have but whether new accounts can be open without your knowledge, or consent.


Protect Your Credit

Issuing a credit freeze essentially stops any credit-reporting agency from accessing your credit score or credit report to a lender. Credit reports help lenders decide whether or not to extend a line of credit or grant loans to consumers. Often, without the ability to see the credit report, lenders will deny the credit line or loan, therefore protecting the consumer from unwanted accounts in their name.

Concerned that you may seek a line of credit in the future?—The thaw can help with that. You can contact the company before you plan to take on a new line of credit and lift the freeze temporarily.

The credit freeze is the best line of defense against bad actors stealing your information and using it for their own financial gain. Now that this process is free, anyone can consider placing a credit freeze on their account!

For more information about credit freezes or credit fraud alerts, visit FTC.gov or call our consumer helpline at 1-800-649-2424.

Contributing Writer: Alexandra Esposito
Content Editor: Crystal Baldwin

Sources:  The Federal Trade Commission