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How to Avoid Financial Scams

Submitted by David Geracioti on Sunday, October 5, 2014 - 12:00pm

It’s easy for investors to become a con artist’s mark, according to financial advisors. Many of the victims scammed in Bernie Madoff’s $65 billion Ponzi scheme were sophisticated at investing. Very sophisticated. One such person – a former trader – invested because he played basketball with Madoff’s accountant.

If successful people are prone to invest in fraudulent private companies, what is the common investor to do? Is there any hope for the average person to invest in private companies and not be ripped off? Here are some tips and red flags to look for before investing.

12 Ways to Thwart ID Theft

Submitted by Tom Orecchio on Thursday, August 14, 2014 - 12:00pm

More than 16.6 million people fell victim to identity theft in 2012 and lost a total of $24.7 billion, the Bureau of Justice Statistics says. If you don’t want to be one of them, prevention is simpler – and cheaper – than is a cure. Here are a dozen ways to help do that.

How to Prevent ID Theft

Submitted by Joseph A. Clark on Wednesday, August 6, 2014 - 12:00pm

With technology come the cyber criminals who steal your identity, credit card numbers and bank account information. While you can’t eliminate all identity theft threats, you can reduce the risk with extra precautions.

Safeguarding Your Digital Info

Submitted by Jim Ludwick on Tuesday, July 29, 2014 - 12:00pm

What happens to all your online accounts when you pass away? In this age where we manage all financial matters online, a digital control plan with a list of accounts and passwords saves your loved ones unnecessary hassles.

My best friend died two years ago. I still miss him. We had a mutual pact. I had a sealed envelope and an encrypted hard drive in my friend’s gun safe eight miles away from my home office. He had a sealed envelope in my safe in my garage.

How to Stop Workplace Theft

Submitted by Josh Patrick on Wednesday, July 23, 2014 - 3:00pm

Companies lose around 5% of revenues each year to employee theft, according to an annual report of the Association of Certified Fraud Examiners. Small businesses are especially vulnerable because they lack of proper controls. As a business owner, however much you trust your employees, you need basic strategies to reduce your risk of becoming a victim.

Stopping Tax-Related ID Theft

Submitted by Sam Cohen on Monday, July 21, 2014 - 3:00pm

Identity theft is rampant. You can become a victim not only after carelessly using passwords and your personal information but also if you’re in the wrong electronic place at the wrong time, such during Target stores’ data breach last holiday season. You have little information more sensitive than that you write – and sometimes send electronically – on your tax return.

Managing Your Passwords

Submitted by Gabe Muller on Wednesday, June 25, 2014 - 12:00pm

We maintain online accounts for essentially everything – banking, investments, shopping, email and the list goes on. As much of this information is private and sensitive, you must take online security and password protection seriously.

The Infallible Trading System

Submitted by Brenda P. Wenning on Tuesday, June 10, 2014 - 9:00am

Imagine being able to trade stocks and knowing that you will make a profit every day. Of course, for the average investor, this is impossible. But mega-banks aren’t average investors. They do it with super-fast computers – and no scruples.

3 Money Traps to Beware Of

Submitted by Ray Ferrara on Thursday, May 8, 2014 - 9:00am

The world of finance has traps for the unwary. Even in a bull market, they can harm you, so it pays to be on the look out. The three that are most insidious: more complex rules on IRA rollovers, tax scams and too-high margin debt.

A run-down of these problems, for the cautious:

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