Are You Alert for New Financial Scams Targeting Older Americans?
Knowing These Basics Can Help Protect Your Family
Do you know who are now the favorite target of financial scams? Older adults in the U.S. In 2012, people 60 and older made up 26% of all fraud complaints tracked by the Federal Trade Commission (FTC), the highest of any age group. That figure’s up from 10% in 2008, when it was the lowest of any adult age group. Also note that these statistics represent only the reported cases. The FTC estimates that no more than 10% of these scams are reported. Because about 10,000 boomers turn 65 each day, the popularity of these scams will only grow. Here’s how to spot the most recent scams and how to protect yourself and your family.
Watch Out for WhatsApp Scams
WhatsApp has been in the news lately. That can make it a popular target for scams. Here’s a little background. WhatsApp offers a text-messaging service for mobile platforms. Users of the service can also send voice messages. They’ve just announced that they will be adding voice communications this spring.
How to Build Decent Passwords
By Niels Postma – VP & Tech Team Director
What’s the definition of a good password? It’s a secret code that’s hard for hackers to break and easy for you to remember.
I’m Niels, FoolProof’s VP of Techie Stuff. We’ve told you in other reports about creating passwords, but as the geek in FoolProof, I wanted to give you a smart way to build a really good password.
Another Data Breach Reported. This Time It’s Yahoo Email
Yahoo has reported that there was an attempt to gain access to email accounts using usernames and passwords from a breach at a third-party site.
Yahoo is resetting passwords on the affected accounts and has implemented a two-step sign-in verification for users to re-secure their accounts. The two-step sign-in requires a second password that is used just the once.
Start an Emergency Fund or Pay Down Credit Card Debt
Which Should You Do First?
This question is familiar to most consumers. It typically occurs each month when the credit card statements arrive. According to TransUnion the average credit card holder owes just over $5000. And credit cards have relatively high interest rates, currently about 13% to 15.4% APR according to Bankrate.com. So it would save money to pay this debt down as fast as possible, right? Wouldn't that be more important than saving a small "rainy day" or emergency fund? Not necessarily. Here’s why.
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