Consumer Alerts
CBA provides information to educate consumers on emerging and continuing issues, including fraudulent efforts to obtain consumer information. You can also learn about new laws that provide you the consumer with new opportunities or protections.
9/15/2005- Elder Abuse - Learn how
seniors protect themselves from fraudsters
10/15/2005 - Phishing Scams - Avoid
being a victim of phishing scams
11/15/2005 - ID Theft - Learn how to combat
attempts to hijack your identity
California
Bankers Association helps
holiday shoppers avoid identity theft
SACRAMENTO – November 15, 2005 – In an effort
to help protect California’s holiday shoppers from identity
thieves, the California Bankers Association (CBA) today announced
the launch of its identity theft prevention campaign.
“The California Bankers Association wants to help people
protect themselves against thieves and fraudsters,”
said CBA president and CEO Janet W. Lamkin. “We have
chosen the holiday shopping season to educate consumers because
this is the time of year so many identity thieves choose to
strike – when consumers are caught up in and distracted
by the frenzy of holiday shopping.”
Identity theft is a growing concern for many consumers, as
the reports of identity theft across the country continue
to increase. Identity theft occurs when a thief steals or
otherwise fraudulently acquires personal information about
a consumer and then attempts or succeeds in assuming that
person’s identity during a financial transaction. Most
identity thieves try to gain access to bank accounts with
ATM cards or secure credit in their victims’ names.
CBA urges consumers to consider the following preventive
measures to keep from becoming a victim of identity theft:
• Know where your credit cards are at all times. Only
carry the credit cards you intend to use that day and keep
track of them in the same way you keep track of money.
• Destroy all receipts, shipping slips and bills that
use your credit card number. Many identity thieves search
through trash, so it is not enough to merely throw them away.
• Always check your credit card statements for unauthorized
charges. Report these charges to the credit card company immediately.
• If you either suspect or know you are a victim of
identity theft, report it to the police immediately. You will
need this police report when you call the credit reporting
companies to have them flag your file.
• Check your credit report at least once a year and
confirm that the information on your report is accurate. The
more you know about your credit and are aware of it, the less
likely you are to be victimized.
Information about CBA
Established more than 110 years ago, the California Bankers
Association (CBA) is one of the largest state banking trade
associations in the country. CBA leads the way in developing
relevant educational and legislative solutions to some of
California’s more pressing financial and banking issues,
including adult financial empowerment, identity theft, financial
privacy, and financial elder abuse. CBA’s membership
includes more than 300 of California’s commercial, industrial
and community banks and savings associations.
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Keep
senior Californians safe from fraudsters
Tips from the California Bankers Association
SACRAMENTO – September 15, 2005 – In an effort to help keep California 's seniors safe from unscrupulous fraudsters, the California Bankers Association (CBA) is offering tips to consumers to how identify and prevent incidences of elder financial abuse.
“More and more, California 's seniors have become the targets of unscrupulous fraudsters who want nothing more than to part seniors from their hard-earned money,” said CBA president and CEO Janet W. Lamkin. “While law enforcement, along with California's financial institutions, works hard to make sure that suspected cases of elder financial abuse are reported and investigated, we want to remind all Californians that we all have a role to play in keeping our seniors safe.”
Elder financial abuse is a somewhat unique crime in that, oftentimes, it is a member of the family, close friend or caregiver who ends up perpetrating the crime, making it that much more difficult to detect.
CBA encourages all Californians to look out for these common elder financial abuse schemes:
- Misappropriation of income or assets – Fraudster obtains access to an elder's Social Security checks, pension payments, checking or savings account, credit card or ATM, or withholds portions of checks cashed for an elder.
- Charging excessive rent or fees for service – Perpetrator charges an elder an excessive rent or unreasonable fees for basic care services such as transportation, food, or medicine.
- Obtaining money or property by undue influence, misrepresentation, or fraud – Perpetrator coerces an elder into signing over investments, real estate or other assets through the use of manipulation, intimidation or threats.
- Pigeon drop – Perpetrator claims to have found a sum of money and offers to split it with an elder provided the elder first withdraws an amount equal to his or her share as a sign of good faith.
- Fake accident ploy – Perpetrator convinces an elder that the elder's child has been seriously injured or is in jail and needs money for medical treatment or bail.
- Telemarketing and mail fraud – Perpetrator persuades an elder to buy a valueless or nonexistent product, donate to a bogus charity or invest in a fictitious enterprise.
- Fake prizes – Perpetrator tells an elder that he or she has won a nonexistent prize and either asks the elder to send a check to pay the taxes on this nonexistent prize or obtains the elder's credit card or checking account number to pay for shipping and handling charges for the prize.
- Unsolicited work – Perpetrator arrives unexpectedly at an elder's residence and offers to perform work for a reasonable fee; after starting the work, the perpetrator insists that the elder pay more than originally agreed before the work will be completed.
CBA reminds all Californians that if they believe that a senior they know and care about is being targeted with one of these fraud schemes, they should contact their county's Adult Protective Services agency immediately and report it.
Information about CBA
Established more than 110 years ago, the California Bankers Association (CBA) is one of the largest state banking trade associations in the country. CBA leads the way in developing relevant educational and legislative solutions to some of California 's more pressing financial and banking issues, including adult financial empowerment, identity theft, financial privacy, and financial elder abuse. CBA's membership includes more than 300 of California 's commercial, industrial and community banks and savings associations.
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Avoid being a victim of phishing scams
California Bankers Association offers tips to consumers
SACRAMENTO – October 15, 2005 -- Due to an enormous increase in activity of “phishing” scam artists across the country, the California Bankers Association (CBA) is offering tips to consumers to help keep them from becoming victims of phishing scams.
The typical “phishing” scam works this way: A consumer receives an e-mail from what appears to be a financial institution or retailer, asking them to please confirm all of their account information and other identifying information. Though the e-mail looks like it is legitimate and from the financial institution or retailer, it is a scam front. All of the information entered by the consumer is then used by fraudsters to access credit and bank accounts or commit ID theft.
Phishing tips for consumers:
- Never give out your personal financial information in response to an unsolicited phone call, fax or e-mail, no matter how official it may seem.
- Do not respond to e-mail that may warn of dire consequences unless you validate your information immediately. Contact the company to confirm the e-mail's validity using a telephone number or Web address you know to be genuine.
- Check your credit card and bank account statements regularly and look for unauthorized transactions, even small ones. Some thieves hope small transactions will go unnoticed. Report discrepancies immediately.
- When submitting financial information to a Web site, look for the padlock or key icon at the bottom of your browser, and make sure the Internet address begins with "https." This signals that your information is secure during transmission.
- If you have responded to an email, contact your bank immediately so they can protect your account and your identity.
Information about CBA
Established more than 110 years ago, the California Bankers Association (CBA) is one of the largest state banking trade associations in the country. CBA leads the way in developing relevant educational and legislative solutions to some of California 's more pressing financial and banking issues, including adult financial empowerment, identity theft, financial privacy, and financial elder abuse. CBA's membership includes more than 300 of California 's commercial, industrial and community banks and savings associations.
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