Scams and Financial Crimes

Identity theft involves criminals assuming your identity by using your personal identifying information (PII) or your financial identifying information (FII) or a financial device without authorization with the intent to gain something of value. Criminals can gain this information in numerous ways, such as breaking into your car, burglarizing your residence, stealing your wallet/purse, from the internet, and from your information they may find unsecured or in the trash. You can’t stop all identity theft but there are ways to minimize your exposure:

• Shred documents or devices containing your Personally or Financially identifying information. 
• Regularly review your bank and credit card account statements.
• Review your credit report.
• Do not give your information to anyone you do not know or trust.

What do you do if your identity has been stolen?

•  If fraudulent accounts have been opened in your name – immediately contact those financial institutions to close those accounts.
• If your information has been used to make a payment to a business - immediately contact that business to dispute the transaction.
• If your credit card, debit card, or checks have been used without authorization – immediately contact your financial institution to report the unauthorized use.
• File a report with law enforcement as soon as possible.
• File a complaint with the Federal Trade Commission.
• Report the identity theft to the three credit bureaus.

When filing a report with law enforcement:

• Gather any documents depicting the fraudulent transactions, such as bank statements, that show the account activity prior to and during the fraudulent transactions.
• Attempt to get copies, front and back, of any fraudulently used checks.
• Attempt to get the physical locations of use, dates, times, names, and transaction amounts from your financial institution.

If your identity was used by a criminal in the commission of a crime and resulted in an arrest warrant and/or a criminal record in your name, you can take steps to clear your name. To learn more about the steps you need to take go to www.courts.state.co.us and search identity theft.

If you are contacted by law enforcement while there is an active arrest warrant, you will be arrested. An arrest warrant is an order of the court that the officers are mandated to enforce. Cooperate with the process but make sure to request that the officer complete a report regarding the identity theft. You can only be cleared by contacting the court in the above process.

Common Signs Something is a SCAM:

•  Scammers pretend to be from an organization you may be familiar with – government agency, banking institution, businesses, charity, etc.
• Scammers may use caller ID spoofing to appear as a government agency or another trusted source.
• Scammers portray there is a problem or a prize and the only way to fix the problem or to claim the prize, you must pay a fee or tax.
• Scammers pressure you to act immediately and to not tell anyone what is happening.
• Scammers tell you to pay in a specific way such as, cryptocurrency, wire transfer, person to person transfer, or by gift card.

Common Scams We See in Our Community:

• Advance Fee Scam: criminals request a fee or tax in advance with a promise to provide money, products, or services afterward.
• Charity Scam: criminals claim to work for a legitimate charitable organization.
• Email, Text, or Phone Scam: criminals portray themselves to be a government official, business, or someone known to you and present a reason to immediately provide them money utilizing wire transfers, gift cards, or deposits into cryptocurrency.
• Home Repair Scam: criminals appear in person and charge in advance for repairs that they never provide.
• Investment Scam: criminals attempt to lure you in with a promise of low or no risk investments.
• Lottery Scam: criminals claim you won the lottery but to receive the winnings you need to pay a fee or the taxes up front.
• Online Auction/Sale/Rental Scams: criminals will post online ads for goods, services, or rental property. After the initial payment is received you will never hear from them again or they may require additional payments to complete the transaction well above the original price.
• Romance Scam: criminals pose as interested romantic partners on social media or dating websites. Criminals will not meet in person. They often lie about their situation to get the victim to send them money. Criminals may also wire money to the victim’s account with a request that the victim send the money elsewhere.
• Tech Support Scam: criminals pose as technology support and gain remote access to the victim’s devices and sensitive information with the intent to steal money.

Be wary of anyone who tells you to pay with gift cards or cryptocurrency as it is probably a scammer.

If you pay a scammer using gift cards or cryptocurrency, there is almost no way to get the money back.

Report cryptocurrency fraud to:

• The Federal Trade Commission at ReportFraud.ftc.gov
• The Internet Crime Complaint Center (IC3) at www.IC3.gov
• The cryptocurrency exchange company you used to send the money