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26 Kadan, Maduriera, Wang and Zach. “Stock Picking, Industry Picking, and Market Timing in Sell-Side Research.” Singapore
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Management University. 2012.
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Access for free at openstax.org
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10.6 • Defending against Attack: Securing Your Identity and Accounts
|
Scam or
|
Scheme
|
Advertising,
|
Sales, or Data
|
Entry
|
Opportunities
|
“I make $40 an
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hour working
|
from home. . . .”
|
Financial Aid
|
Services or Debt
|
Consolidation
|
Characteristics or Promises
|
Issues and Reasons to Avoid
|
Offers of high pay for what seems like
|
little work are likely too good to be
|
true. “Car wrap” opportunities (driving
|
around with ads on your car), data
|
entry, and online sales opportunities
|
are typical examples.
|
The advertised salaries are often very difficult
|
to achieve and come with significant
|
conditions. Some “pay first” programs utilize
|
fake checks to mislead students.
|
These services offer to find
|
advantageous financial aid packages
|
27
|
for a fee.
|
The offers usually do not return as beneficial
|
a package as they promise, and most
|
financial aid can be discovered without
|
paying for it.
|
Phone scammers use threatening,
|
official-sounding messages to scare
|
recipients. They often demand
|
immediate return calls or request
|
account or identifying information.
|
These scams are not unique to college
|
students.
|
As official as they sound, these are scams.
|
The perpetrators will use any account
|
information you provide to invade your
|
privacy or steal your money.
|
Credit cards with very low introductory
|
interest rates, a promise of points, or
|
other impressive-sounding benefits
|
may be offered to students on college
|
campuses, especially during events.
|
Low rates can explode into high rates or incur
|
fees after a brief period or a single late
|
payment. This is not technically fraudulent,
|
but be very careful when reading the terms.
|
Phone Scams
|
“The IRS has
|
detected tax
|
fraud. . . .”
|
“This will be an
|
attempt to
|
avoid an initial
|
appearance
|
before a grand
|
jury for a
|
criminal
|
offense. . . .”
|
Too-Good-toBe-True Credit
|
Cards
|
Table 10.11
|
27 Boswell, Brian. “Don’t Get Suckered By These College Savings Plans.” Forbes.com. 2019.
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329
|
330
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10 • Understanding Financial Literacy
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Scam or
|
Scheme
|
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