This class covers financial scams, focusing on bank impersonation, debt collection, and mortgage relief fraud. You learn about the common red flags associated with these scams and were provided with actionable steps to prevent and respond to potential fraud.

Key Takeaways and Next Steps:

Recognize Red Flags:

Be cautious if contacted unexpectedly by someone claiming to represent your bank, a debt collector, or a mortgage advisor, especially if they request sensitive personal information or immediate payment.

Bank Impersonation Fraud Prevention:

Ignore calls, texts, or emails asking for personal information or money transfers. Verify the contact by calling your bank directly using official numbers from their website or your bank card.

Debt Collection Fraud Response:

Request a written validation letter for any debt claims. Verify the caller's identity by asking detailed questions. Legitimate debt collectors must provide specific information about the debt and creditor.

Mortgage Relief Fraud Caution:

Consult with an attorney before signing any mortgage-related documents, especially if pressured to sign quickly or if there are blank sections in the paperwork.

Reporting Scams:

Report suspicious contacts to the FTC at 1-877-382-4357 or online at https://reportfraud.ftc.gov/. Inform your local law enforcement about potential fraud attempts.

More Information:

American Bankers Association: For more insights on bank impersonation scams, visit https://www.banksneveraskthat.com/.
FTC on Loans and Debt: Learn about loans and debt-related scams at https://consumer.ftc.gov/credit-loans-debt.