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     Guard Against Scams
Open with Caution

Adam opens his e-mail. A popular Internet payment company requests that he send his credit card number so the company can update its records.

Betty opens a letter. She has won a trip to the Bahamas, and all she has to do is send a $50 processing fee to receive her tickets.

Camilla opens her door. A man asks for a donation to a well-known charity. She says she has already donated, but the man tries to pressure her into donating $20 more.

Chaco never solicits account information through e-mail! Chaco maintains your account information and works to protect both your savings as well as the confidentiality of your personal information. Your account information is verified at the time you initiate transactions.
All of the above examples are likely scams. Unfortunately, scams don't come with an "open with caution" warning, so it can be difficult to judge them. It's especially easy to fall victim to fraud when you're busy (such as checking many e-mails) or caught off guard (when you're approached by someone in person).

There are several things you can do to protect your finances from scam artists. Learn how to spot scammers' language and techniques, and do not give personal information or money unless you initiated the transaction and are certain it is trustworthy.

Scam Indicators
According to the National Consumer League's Fraud Center, you may be dealing with a scam if someone:

  • Asks for money to claim a prize or enter a sweepstakes, contest or lottery.
  • Refuses to give you written information or details of an offer before you agree to buy or donate.
  • Requests your credit card or checking account number when you are not making a purchase with that account.
  • Tries to pressure or scare you into acting immediately.
  • Insists that you wire money.
  • Refuses to stop calling after you've asked to not be called again.
  • Contacts you for personal information the company already has.
  • Gives you a check or money order and asks you to send some of the money somewhere else, possibly overseas.

Before Opening Your Wallet
Always think twice before reacting to an offer by phone, mail or e-mail, as well as anyone who asks for money at your home. Remember, if it sounds too good to be true, it probably is. Tell scams to scram, and help protect friends and loved ones by sharing these scam indicators. Learn more about protecting your finances from fraud at www.fraud.org.*

*  Web site provided for information only. No endorsement is implied.

If you believe your Chaco account has been jeopardized by a scam, contact us right away.
    
 
This publication does not constitute legal, accounting or other professional advice. Although it is intended to be accurate, neither the publisher nor any other party assumes liability for loss or damage due to reliance on this material. Images may be from one or more of these sources: ©Jupiterimages, ©Getty Images, ©iStock, ©Fotolia. © 2010 Priority Publications, Inc.
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