Fraud Quiz Answers
1. TRUE True, thieves are everywhere even churches looking to steal purses and the checkbooks, credit cards and other info they find inside. They are also looking for checks, pre-approved credit card applications, and account statements in your mail box. They rummage through trash looking for unshredded info containing account numbers. And they send "phishy" e-mail asking you to verify account numbers by impersonating your bank, credit card company, government agency, etc.
2. FALSE It's a good idea to have nothing in your purse or wallet that contains your Social Security number. An identity thief can apply for and receive credit in your name: credit cards, loans, gambling credit, cars, etc.
3. FALSE Although consumers who have subscribed to the Colorado No Call List have reported a notable decrease in calls, there are exemptions, including non-profit and charitable organizations, politicians, and those with whom you have an established business relationship, such as phone companies. The No Call List will not stop criminal telemarketers to protect yourself, simply do not talk to strangers!
4. FALSE It is the donor's responsibility to determine how his or her donations are used. Ask charities for a copy of their annual report and contact the BBB's Wise Giving Alliance at www.give.org or 303-222-4444.
5. TRUE Federal law prohibits mailing payments to purchase any ticket, share or chance in any foreign lottery. Telemarketing con artists from Canada have conned hundreds of Coloradans into sending millions in payments for "taxes" before collecting on their Canadian lottery winnings.
6. FALSE When you play sweepstakes, your name is frequently put on marketing lists bought and sold by other direct marketers. Eventually, your name can end up on criminal telemarketing lists.
7. FALSE Colorado is one of a few states that does not require statewide regulation of all contractors. Consumers have a greater responsibility to protect themselves from contractor fraud.
8. FALSE City and utility workers do not go door-to-door; but con artists do! Once in your home, he will distract you while an accomplice sneaks in to steal purses, jewelry, safes, and other valuables. Never let a stranger in your home - no matter who they claim to be!
9. TRUE The vast majority of investment fraud cases prosecuted by the District Attorney involve financial advisors who have had long-term, trusting relationships with their victims. The perpetrators use trust and sometimes faith as their weapons. No matter how long you've known or trusted someone, never make an investment decision without seeking advice from a lawyer, accountant, and/or the Colorado Division of Securities.
10. TRUE In all cases of theft by family members, trusted advisors, and Powers of Attorney, victims have given up total control to others and did not review financial statements. Perpetrators took advantage of the victims' trust. In addition to your own review of accounts, surround yourself with several advisors and caregivers who can provide a system of checks and balances so that no one person has total control over your finances.
Last Modified: Mar 28, 2009 10:19 PM
