GREENSBORO, N.C. — What's the difference between fraud and a scam? They seem the same, but fraud means you could get your money back, and a scam means you probably can't. Here's why:
Fraud involves stolen credit card or bank account numbers. Financial institutions recognize you had nothing to do with the lost money.
A Scam involves you. The scammer manipulates you into providing the money or information that leads to lost cash.
Many financial institutions will put the responsibility on the person who was scammed, especially if the person withdrew money, authorized the payment of funds, or gave up their authentication code. T
The Better Business Bureau came out with a Scam Survival Tool Kit. This is a free resource. It helps guide you with a personalized recovery plan based on what happened to you. You go through a series of prompts to explain what the situation is and what the impacts are to you. For example, are you financially unstable due to the scam? Do you need to talk with someone about how you're feeling as a victim? Do you need help fixing your credit? There are action steps to take for each instance.
Fraud and Scam situations are common. One of the easiest ways to protect your identity and your money is to shred documents with personal information. Don't let an identity thief get their hands on them!
******POSTPONED********The Shred-A-Thon will NOT happen May 14th****************