Frank Abagnale Jr., a scammer from 1965 to 1970 spent five years in prison for forging checks. His story is portrayed in the biographical movie “Catch Me If You Can”. Now, he helps train the FBI to identify crime and theft. As reported in the Wall Street Journal, Abagnale has a new warning for consumers – fraud is even easier to commit today.
The so-called “grandparents scam” – calling grandparents and demanding money be wired to help grandchildren in trouble – is one of the most common scams today, says Abagnale. Further, there are no protections for consumers paying by check. When you pay with check, you give away your routing number, account number, address, bank information, signature and possibly even your phone number. Additionally, the store clerk may write down your license number and date of birth. Then you leave the check at the store – anyone who sees the check can could draft from your account tomorrow or go online and order identical checks. More