Bad Actors Take Advantage of Bad Times


By: Dorothy Riggs, CFE

Catastrophic events like hurricanes Harvey and Irma tend to primarily bring out the best elements of humanity such as love, charity and compassion. However, we must sadly acknowledge that calamity also brings out the worst elements of society. The lure of financial gain leads some people to take advantage of others through the implementation of criminality and deceptive schemes.  Avoid being taken advantage of by being on the lookout for the following:

Water-logged Cars

According to Consumer Reports approximately 500,000 automobiles were damaged throughout Texas during hurricane Harvey. Several more vehicles were destroyed by the effects of Irma. Most of these car owners will be in the market to replace damaged cars.  It would be even more devastating if hurricane victims or any other used car buyer purchased one of the flooded cars.  Here are some things you should know before you buy:

  • ·         Sellers often advertise flood-damaged autos as regular used cars. They omit telling potential buyers that the vehicle was flooded.
  • ·         Flooded car damage isn’t always visible to untrained eyes. Have used cars inspected by a reputable mechanic before you purchase.


Looting

On September 11, 2017 DailyMail.com reported that 32 looters had been arrested in Florida.  Looters plunder and pillage goods and merchandise from retailers and private homes. The best thing you can do to mitigate loss to looters is board up windows and doors as securely as possible.  Of course document your property and insure all of your valuables.

Construction/Home Repair Scams

As storm victims seek to repair damaged homes and businesses, they are eager to get repairs done quickly and at the most reasonable price.  Eagerness often leads them to fall for silver-tongued fast-talking individuals posing as reputable contractors who promise to get the job done only to leave them high and dry.  Here are some best practices when dealing with contractors:

  • ·         Check Better Business Bureau reports and reviews to make sure the contractor is legitimate and reliable.
  • ·         Ask for references and physically check out local jobs completed by the contractor if possible.
  • ·         Make sure the contractor is bonded and licensed.
  • ·         Never pay all of the money up front before the work has been started and/or completed.
  • ·         Get a contract in writing specifying work to be done, price, terms of incremental payment and time of completion.

Fake Charity Organizations

Like looters, shady vehicle sellers and shoddy construction workers fake charities come out the woodwork when calamity strikes.  Often times people give thinking that their donations will help the downtrodden.  However, charlatans use fraudulently collected donations to fund their own lavish lifestyles. True victims never receive a dime.  Here’s what you should do before you give:
  • ·         Research the charity to verify its legitimacy.
  • ·         Consider donating to widely known organizations such as the Red Cross.  They usually have local offices in most communities.



Comments

Post a Comment

Popular posts from this blog

How to tell if your identity has been stolen

Reportedly 143 million consumer's personal identification information (PII) was stolen during the 2017 Equifax data breach.  Equifax is one of the three major consumer credit reporting agencies. Given the type of PII that was accessed, identity theft incidents are predicted to have a significant uptick in the months and even several years to come. Be on the lookout for these red flags.  If these incidents occur your identity may have been stolen. Missing mail, particularly bank and credit card statements You receive statements or outstanding bills for accounts that you don't recognize You receive calls from bill collectors for accounts that you are not familiar with You notice unfamiliar accounts listed on your credit report Upon filing your tax forms, you receive notice from the IRS that your taxes have already been filed You receive notice from your insurance provider regarding services or procedures you didn't receive You receive notice from a business or mer...
Read more

Things You Should Know About the Equifax Data Breach

Image
By: Dorothy Riggs, CFE On September 7, 2017 news outlets began reporting that Equifax, one of the three major consumer credit-reporting agencies, had been the target of a major data breach.  Based on Equifax’s investigation, cyber criminals gained unauthorized access to data from mid-May through July 2017. Equifax confirmed that exposed data includes credit card numbers for approximately 209,000 people and personal identifying information (PII) for about 182,000 people involved in credit report disputes.  PII includes sensitive information such as social security numbers, names, birth dates, driver licenses and addresses. According to reports,  143 million people could be affected by this breach . That being the case, you could absolutely be affected. To find out if your data was compromised Equifax has set up a  ‘Check Potential Impact’  site where you are asked to enter your last name and the last 6 digits of your social.  After doing so, ...
Read more