The Art of Foiling Scam Artists
Steven Weisman enjoys a workout, whether on a StairMaster or on issues that can make even the fittest break out in a sweat. So, upon discovering that his American Express card had been stolen from his gym locker, the Bentley professor was game for more than winning back his own privacy.
“Suddenly, I was a victim,” says the senior lecturer in law, taxation and financial planning. “This piqued my interest in the issues of identity theft and scams.”
These closely linked topics inspired the legal scholar to write two books. The latest, The Truth About Avoiding Scams (New York: Prentice Hall), arrived in bookstores this February.
Unexpected Targets
A nationally syndicated radio talk-show host with expertise in elder care, consumer issues and financial planning, Weisman offers numerous tips to help protect against scams and identity theft. The book also debunks a myth or two. For instance, among the millions of Americans who are tricked out of billions of dollars every year, the most typical targets are professionals between the ages of 25 and 44 – not the elderly, as many assume.
“Educated, affluent people are actually quite vulnerable to scams,” says Weisman, who holds a JD from Boston College Law School. “I guess we sometimes think we’re too smart to get conned.”
Notice, he adds, that “scammers are the only criminals we call ‘artists.’ They know how to find our weaknesses. With every natural disaster, for example, you’ll find fraudulent charity collectors.”
Protect Yourself
Weisman’s book is chock full of advice for fending off these crooks For example, never reveal personal information over the telephone unless you initiated the call. And don’t carry around your Social Security card or reveal the number unless required to do so by law.
When visiting web sites, he advises, check the web address to prevent being routed to phony sites that steal personal information as you type. Those who shop or bank online should not enter account numbers or other private data unless “https” appears in the site’s address, and the padlock icon in the corner of the browser window.
In this environment, the credit report freeze is a person’s best defense.
“Identity thieves benefit most from their crimes by making large purchases,” Weismann explains. “When you freeze your credit report, you alone know the password for unlocking it. So even if someone steals your identity, they can’t spend much of your money. They’ll move to their next victim.”
Unlike those from the “do what I say, not what I do,” school of advice, Weisman does follow his own dictates – or most of them. He froze his credit report; he never gives out his Social Security number; and he shreds all his papers (with a two-way shredder to prevent reconstruction by the particularly enterprising thief).
“But I don’t have a lock on my mailbox,” he says. “I had to draw the line somewhere.”