Con Artists have been around forever. With modern technology their job just keeps getting easier. We have spoken before on the subject of Elder Scams but you don't have to be a senior or technolocially challenged to be taken advantage of.
Recentlya member of the Idaho Estate Planning team found themselves in the middle of aPhishing scam. Phishing is the act of trying to steal information such asusernames, passwords, and credit card details by masquerading as a trustworthyentity in an electronic communication. This team member is aware of scams and how they work and is typically very careful with their credit card information.
These scamartists had pieces of information that made them sound as if they really didrepresent the cellular company and were threatening to shut down their cellularservice. There was more than one and they worked in teams representing different departments of "the company". As soon as the call was over and my team member realized what hadhappened they called their bank. The thieves were able to make charges of morethan $50.00 before the card was cancelled 5 minutes later. The bank's software noticing charges coming in from many locations around the country had automatically stopped 5 other charges totaling hundreds.
With theholiday season rapidly approaching we typically find an increase in this typeof activity and we want to warn all of our friends to please be careful withyour financial information. If someone is threatening to shutdown services tellthem you will call them back. Look up the correct number for the company andcall the customer service department to verify whether your account is actuallyin trouble.
Youshould also be aware that a mailed notice should typically precede a legitimatecancellation of services. Please call us if you have any question about PhishingScams, Elder Scams or any other concerns for you or your parents.
For more information on this and otherestate planning subjects, contact IdahoEstate Planning and schedule aconsultation. Remember,good planning is no accident.