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 "Vishing" - The Latest Consumer Scam
There is yet another new scam set to snare unsuspecting consumers. It's called "Vishing" or voice phishing. The newest trend in identity theft works on the same basic principal as the often discussed "Phishing". Much like its predecessor, "Vishing" uses computers and the internet as tools to obtain a consumer's personal information. However, "Vishing" uses the consumer's own telephone against them in committing this fraud.
The "Visher" has two approaches to lure the consumer. The first approach is an improved form of e-mail. "Vishers" lure customers by sending e-mails that look like they originate from a legitimate customer service center. Instead of requiring the consumer to click a link, the "Vishing" e-mail provides a phone number for the person to call, purportedly to address an urgent matter with their existing account.
The second approach is more likely to ambush the wary consumer who has learned to ignore unsolicited e-mails. Using VoIP (Voice over Internet Protocol) phone numbers, a "Visher" can use these easily obtained internet phone numbers to camouflage their Caller ID information. They can also tailor their area code to match the targeted consumer’s area code in order to give the appearance of legitimacy. The consumer receives a phone call with a Caller ID listing from a legitimate company. Similar to the e-mail, the phone call leaves a voice automated message regarding a supposed issue with the consumer's account. Once again, the person is urged to call back immediately.
Once the unsuspecting consumer is baited with either the e-mail or phone call, and dials the number which was also created by the scam artist, they are greeted with another automated message. This time, they are requested to enter their account number. Once this number is entered, the consumer’s information is stolen.
This new form of identity theft has the potential to be very effective, since it capitalizes on consumers growing reliance on e-mail headers and Caller ID. Combine this reliance with consumers existing expectations of customer service and you have a scheme that can only be eliminated through education.
If you receive ANY e-mail or phone call regarding any account you may have, do not call the number instructed. Instead, rely on verifiable phone numbers you most likely already have in your possession. For example, if you get a call from a credit card company or a bank regarding an existing account, do not call the phone number given to you. Instead, rely on the customer service numbers provided for you on the back of your credit card or ATM card.
For more information on "Vishing" or other recent scams, go to the website of the California State Attorney General http://ag.ca.gov/
"Upside Down" On A Car Loan?
If you are looking to trade in your vehicle in the near future, you might want to prepare yourself for dealing with the term "upside down". Being "upside down" in a car loan means you owe more on the vehicle than what the vehicle is worth. This is more likely to happen if you have recently purchased a new vehicle with little or no down payment, or if your existing car loan is in the early stages of a long term contract. If you seek to trade in a vehicle that is "upside-down" it could be impossible to do so without paying out of pocket for some or all of the negative equity your vehicle has accrued.
Matters can be made even worse by rolling negative equity from your trade-in into a new car loan. In essence, you would now be responsible for the negative equity of two cars: the new car you just purchased and the one you just traded in.
Once you are upside down, there really aren't too many options other than weathering the loan and continuing to make payments until the amount owed is closer to the market value of the car.
If there is an urgent need to trade in or sell your car, you could be better served by selling it yourself rather than trading it into a dealership. It might make the difference in netting at least a few hundred dollars more to ease the burden of the negative equity.
Of course, the best way to avoid being caught in a bad car loan is to avoid them in the first place. When purchasing a vehicle, the consumer has the option to provide their own financing. Talk to your own personal credit union or bank to see if they will finance your vehicle at a competitive rate compared to what is offered by the car dealer.
Drug Maker Failed to Warn Parents of Two-Year Old of Known Drug Risks
Two-year-old Andreas Perry was prescribed a drug to treat his eczema. Six months after treatment, Andreas was diagnosed with a rare form of cancer. Research indicated the drug increases the risk of cancer, but his parents were never warned. Click here to read more...
Local law firm celebrates
70 years of trial advocacy
Joe Stevenson, a reporter with The Bakersfield Californian writes about our law firm. Click here to read article.
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