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JULY 2010

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10 Ways to Avoid Financial Fraud

With greater awareness, instances of identity theft, Social Security forgery, and Medicare/Medicaid fraud can be greatly reduced. Here are the Jewish Home’s top ten ways to avoid common financial fraud.

Keep your Social Security number confidential. Store your Social Security card in a safe place, and only disclose your number to secure sources you absolutely trust.
Ask tough questions. You're entitled to know why your personal or financial information is needed by anyone other than the IRS or State tax board.
If it sounds too good to be true, it probably is. Never invest in anything without being well-informed.
Be aware of Medicare scams. Don't share your Medicare number with anyone but your physician. Be wary if someone tells you he or she can bill Medicare for a procedure not normally covered.
Know the facts before signing. Do your homework before opting into anything involving loans or lines of credit.
Do not wire money to anyone you don't know. For online transactions, use a secure payment method like PayPal.
Read your monthly bank statements. Check your bank and financial statements regularly, or have copies of your statements sent to your attorney or a trusted family member.
Purchase a shredder. Shred all receipts, old bank statements, and documents before throwing them away.
The Federal government does not endorse. Be wary of finance company endorsement claims. No government entity in the U.S. endorses private financial programs.
Don't be afraid to say ‘No.’ Fraud often involves pressure and manipulation. If an offer makes you uncomfortable, just say "no."

The nonprofit Los Angeles Jewish Home relies upon donations from individuals, corporations, and foundations to provide its high level of programs and services. To learn more about the world-renowned Los Angeles Jewish Home, visit us at www.jha.org, or call 818.757.4407.