Business and Personal Finance © 2007Unit 4: Protecting Your FinancesWebQuest Internet ProjectsAvoiding Financial Fraud Task 1: Learn about financial fraud and scams. (page 376) Senior citizens are particularly vulnerable when it comes to financial fraud and scams. But young people can also be the targets of con-artists. Get started on this WebQuest activity by listing the different types of scams committed by unscrupulous people or companies. Write a sentence or two about each of these scams and what you can do to avoid them. http://investored.ca/en/library/csa/csab_protecting_your_finance.htm http://financialplan.about.com/cs/fraud/ Chapter 12 Task 2: List the warning signs to help you spot a fraudulent tax preparer. (page 392) The Better Business Bureau (BBB) is an organization devoted to protecting the average consumer against shoddy, unscrupulous, or unlawful business practices. Through the BBB, you can file a complaint against a business that has treated you unfairly, get information about local reputable businesses, and get tips about how to spot fraudulent business practices. Make a list of the warning signs that a tax preparer is not to be trusted. Write a few sentences about how to choose a reputable tax preparer. http://www.bbb.org/alerts/article.asp?ID=488 Chapter 13 Task 3: Get smart about automobile insurance scams. (page 432) You could become the victim of an automobile insurance scam in a variety of ways. For example, in a staged rear-end accident, a scam driver will pull in front of your car and slam on the brakes, causing a rear-end crash for which you are technically responsible. In other types of scams, body repair shops may charge excessive prices, or doctors and lawyers may lie to collect large sums of money from your insurance company. Write a paragraph or two about automobile insurance scams and how you can protect yourself. http://www.personalinsure.about.com/cs/vehicleratings/a/aa062203a.htm Chapter 14 Task 4: Get smart about buying life insurance. (page 467) High-pressure sales tactics can be a tip-off that an insurance sales person is less than trustworthy. Do not let yourself be pressured. There are no deadlines when buying life insurance. Before you talk to an insurance agent, educate yourself. A good source of information about life insurance is your state's department of insurance Web site. Research the do's and don'ts of buying life insurance. Write a paragraph or two about what you can do to protect yourself against scam artists. http://www.naic.org/consumer_home.htm http://biz.yahoo.com/edu/in/iw_in18.iw.html Chapter 15 Task 5: Understand estate-planning scams. (page 510) Ask your parents or grandparents if they have ever been invited to attend an estate-planning seminar. They are presented in hotels, community centers, and even churches all over the country. Many are legitimate and helpful, but some are schemes designed to sell a financial product called an “annuity.” Research various estate-planning scams. Write definitions of the terms annuity and living trust. Write a list of ways to choose a legitimate estate planner who has his or her client's best interest in mind. http://www.ca-trusts.com/scams.html |  |
