Adult Financial Literacy Guide | Page 33

Fraud Protection Fraud is a general term for any wrongful or criminal deception intended to result in financial or personal gain. Fraud occurs by misrepresenting or concealing facts. People of all ages can be victims of fraud. Some of the more common types of fraud include: Identity fraud: When your personal information or identity is stolen. Did you know that…? Fraud can be committed by anyone, including professionals/people in business, service providers, and strangers. Fraud can also be carried out by a spouse, friends and immediate and extended family. Photo credit GotCredit via Visual Hunt CC BY Debit card fraud: When your debit card, debit card information or your personal identification number (PIN) is stolen. Credit card fraud: When your credit card, credit card information or your personal identification number (PIN) is stolen. Email and phone fraud: When you receive fraudulent emails that look like they come from a legitimate company, this is call phishing. Vishing is the telephone version of phishing. Real estate fraud: When an additional mortgage has been taken out in your name, or the title of your property has been transferred. Online fraud: When you share personal information online with unrelialble sites it can result in identity theft and financial loss. 33