Understanding Fraud and Scams

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Identify the hidden activities of credit card fraud from these options:

Using a credit card to pay bills on time.

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Making purchases with a valid credit card.

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Reporting a lost credit card to the bank.

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Making purchases using a stolen credit card.

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Making purchases using a stolen credit card.

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What do you think phishing is?

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Phishing is a fraudulent attempt to obtain sensitive information, pretending to be a legitimate source.

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What is a Ponzi scheme really?

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A Ponzi scheme is an investment fraud that uses the capital of new investors to pay returns to earlier investors.

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Money laundering

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Money laundering is the process of concealing the origins of illegally obtained money.

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What is the main goal of fraud?

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To deceive individuals for financial gain.

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How can you protect yourself from identity theft and keep your personal information safe?

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Regularly monitor your accounts, use strong passwords, enable two-step authentication, be cautious about sharing personal information, and consider identity theft protection services.

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Identify the hidden signs of phishing emails.

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Urgent language or threats in the message that make you feel rushed.

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If you suspect credit card fraud, what should you do?

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Contact your credit card issuer immediately. It's better to be safe!

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How can social media play a role in identity theft?

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Social media can contribute to identity theft by exposing personal information and facilitating phishing attacks.

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What are the legal consequences of committing fraud?

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The legal consequences of committing fraud include criminal charges, civil penalties, restitution, and imprisonment.