The business of selling fear

[HemiEd]

Heck, it is the offseason

I have noticed more and more lately adds trying to instigate fear to sell you some peace of mind.

The one that triggered this thread was a new one I saw yesterday about losing your home to a scam. I only watched it for a few minutes but remember seeing a fake bill of sale of a persons home for $10. Holy crap, how would that stand up?

This morning in my news feed one add was for SSN protection and the other Identity theft.


Have you had any personal experience with these issues or purchased these products?
What say you?

Personally I have avoided TikTok and have purchased an antivirus protection for my laptop.

Our Citibank card has been compromised at least a half dozen times in the last couple years, but none of the others have.

[DaFace]

Originally Posted by Bowser

Why should we avoid debit cards? Too easy to lift the info for scammers?

And in lieu of that, just use a credit card? Or is cash king?

Debit cards (generally) don't have as good of protections as credit cards against fraud. Even if they technically cover the same amounts, you are often out of the money while the fraud investigation takes place.

So for example, imagine someone fraudulently charges $10k to your debit card. They money gets removed from your account, and until they close the fraud investigation, you can't get to the $10k.

If someone does that on a credit card, it's the BANK'S money that gets put on hold. Until the fraud investigation closes, you don't owe them anything for it.

[Bowser]

Originally Posted by DaFace

Debit cards (generally) don't have as good of protections as credit cards against fraud. Even if they technically cover the same amounts, you are often out of the money while the fraud investigation takes place.

So for example, imagine someone fraudulently charges $10k to your debit card. They money gets removed from your account, and until they close the fraud investigation, you can't get to the $10k.

If someone does that on a credit card, it's the BANK'S money that gets put on hold. Until the fraud investigation closes, you don't owe them anything for it.

Makes perfect sense, thanks.

I had a $500 charge against my debit card a couple of months ago to apple.com, but I'm an Android heathen. I wondered where my info could have been lifted from; I had gone through a stretch where I hadn't really used my debit card for anything other than groceries and pay at the pump. I suppose if the info is out there someone with skills can lift it, no matter how far back they have to go? I guess?

[Saulbadguy]

Originally Posted by DaFace

Yeah, it's like saying that you should do a better job of protecting your house from burglary. Sure, you can add steel bars to your windows and strengthen your doors, but if someone has enough time and motivation, they'll cut through the roof without you even thinking that was a possibility.

Aaaaaand…you have a limited budget, limited skilled labor, and other competing priorities for your home which prevents you from doing it correctly.

[BWillie]

Originally Posted by HemiEd

Heck, it is the offseason

I have noticed more and more lately adds trying to instigate fear to sell you some peace of mind.

The one that triggered this thread was a new one I saw yesterday about losing your home to a scam. I only watched it for a few minutes but remember seeing a fake bill of sale of a persons home for $10. Holy crap, how would that stand up?

This morning in my news feed one add was for SSN protection and the other Identity theft.


Have you had any personal experience with these issues or purchased these products?
What say you?

Personally I have avoided TikTok and have purchased an antivirus protection for my laptop.

Our Citibank card has been compromised at least a half dozen times in the last couple years, but none of the others have.

I don't really understand the worry. My credit card has been stolen numerous times. I just tell them I didn't do it. All charges are wiped away once I sign an affidavit and viola. It's just annoying resetting up autopay stuff.

[BWillie]

Originally Posted by DaFace

Debit cards (generally) don't have as good of protections as credit cards against fraud. Even if they technically cover the same amounts, you are often out of the money while the fraud investigation takes place.

So for example, imagine someone fraudulently charges $10k to your debit card. They money gets removed from your account, and until they close the fraud investigation, you can't get to the $10k.

If someone does that on a credit card, it's the BANK'S money that gets put on hold. Until the fraud investigation closes, you don't owe them anything for it.

They can take as much as they want, as long as I get it back I don't care.

[Saulbadguy]

Originally Posted by DaFace

Debit cards (generally) don't have as good of protections as credit cards against fraud. Even if they technically cover the same amounts, you are often out of the money while the fraud investigation takes place.

So for example, imagine someone fraudulently charges $10k to your debit card. They money gets removed from your account, and until they close the fraud investigation, you can't get to the $10k.

If someone does that on a credit card, it's the BANK'S money that gets put on hold. Until the fraud investigation closes, you don't owe them anything for it.

Yep. Like another poster mentioned earlier - if it’s a major/large bank that issues the debit card, you will have better luck in this scenario.

It it’s mom and pops country rural bank, good luck.

[Pablo]

Be afraid and buy insurance on everything you own!

[Mecca]

Selling fear is literally all anyone does anymore, when the political ads start it'll really uptick.

[notorious]

Scammers use fear, too.

I just set up and started a new Facebook business page for a branch of my company. I have received around a dozen copyright threats from scammers that want me to use an outside link to settle. The names they use under the guise of Facebook market team is hilarious.

But people fall for it all the time.

[Fish]

Low intelligence people are easily motivated by fear. Our education system is severely underfunded and mismanaged, and has been for decades. Thanks to the internet, it's easier than ever to lookup information about a person and be able to contact them by multiple different methods. It makes it easier to digitally steal than to physically steal. When people are so dumb you can simply call them on the phone and convince them to send you money, you're going to have shitty thieves waiting to oblige..

[HemiEd]

Wow, some terrific information in these posts, thank you! I had no idea we had a professional in this area, thanks Saulbadguy!

It looks like I have been doing a few things right, but I have no idea who to contact to lock our credit. We don't plan on buying anything on credit and haven't for 16 years since the Challenger purchase.

I do not answer the phone, ever, unless I know who it is. Still having a Chicagoland area code is actually very helpful in that area.

Made the mistake one time of answering a spoof email that had copied Paypal's logo etc. I ended up having to reset all passwords etc. Then another time I got a FB message asking if I remember this picture, oh shit, that was a mess.

The debit card, the only time we use it is for groceries or gas. Guess I will switch over to using a credit card for those as well. I actually still use cash for most purchases as they haven't killed it down here in the Ozarks yet.

Thank you again everyone!

[Bearcat]

Originally Posted by HemiEd

Wow, some terrific information in these posts, thank you! I had no idea we had a professional in this area, thanks Saulbadguy!

It looks like I have been doing a few things right, but I have no idea who to contact to lock our credit. We don't plan on buying anything on credit and haven't for 16 years since the Challenger purchase.

I do not answer the phone, ever, unless I know who it is. Still having a Chicagoland area code is actually very helpful in that area.

Made the mistake one time of answering a spoof email that had copied Paypal's logo etc. I ended up having to reset all passwords etc. Then another time I got a FB message asking if I remember this picture, oh shit, that was a mess.

The debit card, the only time we use it is for groceries or gas. Guess I will switch over to using a credit card for those as well. I actually still use cash for most purchases as they haven't killed it down here in the Ozarks yet.

Thank you again everyone!

You have to freeze your credit through each reporting agency... links are here: https://www.usa.gov/credit-freeze

[Saulbadguy]

This is a handy guide on how to freeze your credit with the big 3 bureaus. You can do it all online if you wish.

https://www.nerdwallet.com/article/f...-freeze-credit

[HemiEd]

Originally Posted by Saulbadguy

This is a handy guide on how to freeze your credit with the big 3 bureaus. You can do it all online if you wish.

https://www.nerdwallet.com/article/f...-freeze-credit

Thank you!

Originally Posted by Bearcat

You have to freeze your credit through each reporting agency... links are here: https://www.usa.gov/credit-freeze

Thank you!

[T-post Tom]

Lots of good advice. Years ago a family member’s checking account got cleaned out via a compromised debit card. She had multiple items “bounce” & racked up some substantial bank fees. She had to fight the bank for over 6 months to get a final resolution. Debit cards carry extra layers of risk. Especially dangerous when used online.