Fraud Prevention And Consumer Protections
Utilize fraud prevention strategies in all your financial transactions including credit cards, checks and mortgage finance.Fraud Prevention And Business As Usual
Fraud detection and prevention has become the ugly reality of our fully wired and transaction oriented consumerist society.
As incident rates of fraud increase, consumers need to be aware and to use fraud prevention techniques in order to safeguard your identity and to limit financial losses and exposure arising from scams.
* Sports Fraud. In the entertainment and sports arena, NFL fraud prevention has become increasingly necessary to police the traffic in fraudulent game tickets, sweepstakes and reward programs unauthorized by the NFL.
NFL fraud prevention lawyers aggressively prosecute a whole raft of offshore bootlegger firms which steal game tapes and videos for production into cheap and unlicensed sales to unsuspecting buyers who merely want their favorite team's game on a CD for the lowest price, without thinking whether the seller has a legal relationship with the NFL.
NFL fraud prevention similarly deals with knock-off clothing products which bear the NFL or a team's logo or special identifying insignia, but where the seller has not received prior legal authorization.
* When Credit Cards Are Abused. Credit card fraud prevention is heavily pursued by the major credit card companies such as Mastercard, Visa, and American Express in order to safeguard current card holders' interests. Additionally, the credit card companies pursue credit card fraud prevention in order to limit their direct liability for securing transactions between approved sellers and card account holders.
The typical need for credit card fraud prevention arises out of the theft of user's card or in the case of identity theft. The first step in credit card fraud prevention is to create a knowledgeable customer, who will diligently and effectively monitor all credit facilities in order to short-circuit any attempted fraud before it gets loose and out of control.
The second area of credit card fraud prevention is by informing and cautioning goods and services sellers to double-check all credit card data and to verify additional personal data such as address, or key customer identification number which would differentiate the true customer from a thief.
* When Your Bank Checks Are Mis-Used. Check fraud prevention requires that banks monitor incoming customer checks, verifying signatures and determining whether the transaction activity is "consistent" with the history of the customer. Check fraud prevention also requires that merchants remain guarded about accepting a check for payment unless the customer is known or can provide cross referencing codes or special identity numbers or a merchant's ID card.
* Fraud Prevention On The Internet. Electronic commerce is tough to monitor, since the transaction can be carried out on line and does not necessarily involve multiple verifications by the seller. Indeed, where a seller is revenue and sales oriented, electronic commerce fraud prevention may be secondary in focus to "turning a profit" on operations. To avoid becoming a victim, you can use prevention protocols such as limiting personal data, as well as verifying the actual site security applications software used by the seller.
* Even Home Mortgages Attract Fraudsters. Last but not least, the home mortgage finance market attracts fraudulent "innovation" as consumer-borrowers and aggressive brokers falsify mortgage application documents, mis-state your income and ability to pay, or introduce undisclosed terms at your closing.
Mortgage fraud prevention is standard operating procedure at reputable lending institutions, accordingly shifts the prosecutorial focus onto unlicensed brokers or small time lenders which might seek to defraud unsophisticated borrowers.
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