Adjust Text Size

Ten New Money Scams, Part 2

Written by Nickel - Leave a Comment

Here’s the second installment of money scams to be on the lookout for…

4. Medicare fraud — With the advent of confusing new Medicare drug plan this past January 1st, scam artists are on the prowl selling phony plans, or posing as insurance salesman to steal personal data. Keep in mind that no legitimate Medicare prescription drug plan will send salespeople to your door uninvited. Similarly, participating insurers are forbidden from asking for personal information as part of their marketing.

5. Pretexting — Sometimes ID thieves just ask for your personal information. In one common approach, they claim to be conducting a survey on behalf of your bankm abd ask questions designed to get ahold of your account number, date of birth, social security number, etc. Once they have the data, they can call your bank pretending to be you… And no good can come of that.

6. IRS phishing scam — There’s a new breed of phishing scam going around. In this case, a very real looking e-mail that seems to be from the IRS informs you of an unclaimed tax refund, and urges you to visit the IRS website through a link in the e-mail. Trouble is, the link doesn’t lead to the IRS. Rather, it points to a third-party site that has been set up to harvest your sensitive personal data. I actually wrote about this scam awhile back. I would imagine that it’ll only get more prevalent as tax time draws ever closer.

See also: Money Scams, Part 1 and Money Scams, Part 3

[Source: Reader's Digest]

Published on March 9th, 2006 - Leave a Comment
Filed under: Miscellany

About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!

Top Cards by Category

CASH BACK CREDIT CARD (see all)

Chase Freedom^® Visa - $200 Bonus Cash Back

Earn $200 Bonus Cash Back after you make $500 in purchases in your first 3 months. 5% Cash Back on up to $1,500 spent in bonus categories each quarter.

AIRLINE MILES / REWARDS POINTS CREDIT CARD (see all)

Platinum Card^® from American Express

Earn 25,000 Membership Rewards(R) bonus points when you spend $1,000 in your first three months of Card membership.

CREDIT CARD DEALS (see all)

Gold Delta SkyMiles^® Credit Card from American Express

Earn 30,000 bonus miles toward Award Travel when you spend $500 on the Card in the first three months from account opening. Receive double miles on Delta purchases.

BALANCE TRANSFER CREDIT CARD (see all)

Discover^® More Card - 18 Month Promotional Balance Transfer

Enjoy a 0% introductory rate for 18 months on Balance Transfers and 6 months on Purchases. Earn up to 5% cash back in categories that change.

LOW INTRODUCTORY RATE CREDIT CARD (see all)

Discover^® More Card - $0 Balance Transfer Fee!

Enjoy no balance transfer fee for a limited time. 0% introductory rate on Balance Transfers and Purchases. Earn up to 5% Cashback Bonus in categories that change like gas, restaurants, department stores and more. Limitations apply*

LOW INTEREST RATE CREDIT CARD (see all)

Discover^® More Card - $0 Balance Transfer Fee!

BUSINESS CREDIT CARD (see all)

The Business Platinum Card^® from American Express OPEN

Enjoy amenities for you and your business, like: complimentary airport club access, including American Airlines Admirals Club(R) lounges.

STUDENT CREDIT CARD (see all)

Discover^® Student Clear Card

5% Cashback Bonus in categories that change like gas, restaurants, department stores and more. Limitations apply*. Up to 1% unlimited Cashback Bonus on everything else. No annual fee

GAS REBATE CREDIT CARD (see all)