Recently there have been thousands of complaints to credit card companies in regards to a mysterious 25 cent charge on their credit card.  An estimated 1 million of these 25 cents charges show up as “Adelle Services” from Mellville N.Y.   This is a perfect example of credit card fraud and an example of the importance of making certain we are protecting ourselves.

First of all make certain you recognize all the charges on your cards, and if you see this particular charge contact the credit card company to dispute the charge.   Also, contact the www.ftc.gov  and www.ic3.gov, in order to make certain that this investigated properly. 

I realize that 25 cents is not the real issue here, but your overall protection will be enhanced by making certain that people do not get away with this.  It also helps make certain that financial institutions and businesses are doing all they can to protect you.   By the way, if it was 1 million people, these criminals walked away with $250,000!

Here are a couple of other tips to help you protect yourself better:

1.      Review your statements right away.  Make certain that you completely recognize all the charges on your statements.

2.      Use passwords wisely avoid things like your mother’s maiden name and your birthday.  You should have at least two complex passwords for all your financial online transactions.

3.      Watch out for Phishing/Spoofing!  These are bogus e-mails asking for personal information.  Financial Services companies will rarely ask you for personal information online, and this spoofing technique is the most common form of fraud.  These e-mails have been reported to look very professional, so make certain that you are going online by typing in the actual URL.

                       Do you have a personal finance question? Email Bob                              

4.      Check your credit history at least once a year in order to make certain that               there have be no credit cards opened up in your name via identity theft.  This should be done as well to make certain you have a good score, and we go into great detail in regards to this in our personal finance course.  A strong credit score will save you money!

5.      Watch your mail!  Obviously all the credit cards offers in the mail create risk for you, and being certain that you shred them is important.  Also, consider using https://www.optoutprescreen.com/?rf=t in order opt out of these offers. 

It’s important to remember that all of the conveniences of the information age come with some additional responsibilities and this would be one of them.  Looking after ourselves and remembering that no one will care more about your finances than you!

Don’t forget to check out our courses! And share any comments below that you feel may help people in regards to this topic. 

Sincerely,

Bob O’Brien

bobrien@mywealth.com

www.mywealth.com