Bank Draft Scam Alert
by Wayne Patterson
We are receiving reports about the increased use
of automatic bank drafts to separate unsuspecting
home business owners from their assets. All a
company needs to withdraw funds from your bank
account is the bank's routing number and your
account number. The use of electronic funds
transfer has gained in popularity over the last
few years. Many people now use this method to pay
mortgage payments, utility bills, tution
payments, and even contributions to their favorite
charity. It is a convenient method to be sure
that your bills are always paid on time and to
avoid those exorbitant late charges. However,
some very uncharitable people have discovered that
it is remarkably easy for them to use this same
method to withdraw funds from YOUR checking
account
Usually the scam starts with a very persuasive
telemarketer. He has an offer for a credit card or
other "fantastic" deal. After a few minutes you
are convinced and agree to place an order or
accept your "fabulous" prize. Then you are asked
to read them the numbers from the bottom of your
check. Once they have this information they can
withdraw funds from your checking account without
your signature or permission. You will not know
that this money is now GONE until you reconcile
your bank statement at the end of the month.
Another way of obtaining your account information
is from a check that you have sent to a company
that appears legitimate. The problem is that any
employee with access to the records or mail can
copy your check and pass along the information to
an accomplice.
How to Avoid Being Scammed. Many calls that you
receive from telemarketers are legitimate and
legal. Some even offer a product or service that
will be of great value to you or your family.
Never order from a telemarketer unless they are
willing to provide the name, address, and phone
number of the company they represent. If they
avoid any of these questions, hang up immediately.
No is the most powerful word in the English
language. Never fall for a sales pitch that
includes "limited offer" or "you MUST sign up
now." Any business interested in having you as a
customer will provide you with their information
and give you a reasonable time to decide. Once
you have this information then turn on your
computer and check for references at www.bbb.org.
and for complaints at www.complaints.com. If no
adverse information appears then call back and
place your order. They will be glad to hear from
you and you will have had the time to make an
informed decision. However, it is still not time
to abandon all caution. Always use a credit card
and insist that you not be charged until shipment.
Some companies, like the recent "as seen on TV"
Abenergizer scam, will keep promising shipment
until your time limit to contest a charge expires.
I've Been Ripped Off! If you discover a
fradulent withdrawal from your account, go to the
bank immediately. Do Not Call! Phone calls or
emails do not count and the money will keep
disappearing from your pocketbook. Fill out a
report (keep a copy) and insist that your account
be credited. Do not let them tell you that you
must call the company that withdrew the money.
This is the bank's way of avoiding a loss. If the
bank does not cooperate you must close your
account and find another bank. Some banks will
transfer charges from one account to another so it
is important to close all of your accounts. You
should also notify
http://www.bbb.org., your State
Attorney General and
http://www.ftc.gov.Wayne and Carolyn Patterson are the owners of
Solidgold Home Business. Solidgold utilizes a
team approach to finding The Perfect Home
Business for their clients. Visit Wayne and
Carolyn at
http://www.solidgoldhomebusiness.com.
