Though the financial industry is working to ensure that won t happen here, many con artists are taking advantage of consumer fears by developing scams that lure unsuspecting individuals into making bad decisions about their money. We want you to be aware of Year 2000 fraud, so you enter the new millennium confident that your money is safe. The first thing con artists often do is persuade consumers that Year 2000 computer problems will create havoc on our economy. They may describe frightening scenarios of banks shutting down, leaving account owners empty handed and unable to recover funds from their accounts or investments in IRAs and Certificates of Deposit. Con artists may also warn about problems affecting other sources of income such as government assistance or investments in the stock market.
Thieves can appear very sincere and friendly.
And, they can be very persuasive. All they need is your account number to empty all the money out of your account. Don't enter into a deal if you're being pressured to act immediately. Reputable businesses will give you time to make decisions and consider an offer. Be wary of people posing as bank officials, police officers, or other government agents who ask you to assist them in an investigation or audit of your financial institution.