No, you are not a winner in this sweepstakes
The Senior Citizens’ Law Office in Albuquerque is warning of a sweepstakes scam, the ubiquitous type of fraud that lures people into thinking they’ve won something big but then tells them they must fork over money before they see any of the dough.
The latest version is a letter from Vayo Financial Inc. that comes from South Africa and says you have won $250,000. You’ve got to give it to them — this is one heck of a big sweepstakes: “We are pleased to bring this official notice which confirms you as one of the 2nd prize winner in the second category of the EUROPEAN, AFRICAN AND USA Consumer sweepstake, in conjunction with USA Departmental Stores.” (The grammatical errors are not mine. It came this way.)
Enclosed was a “check” for $1,870, meant to help the recipient pay a processing fee of $1,750.
As the Senior Citizens’ Law Office points out, the bad grammar is a dead giveaway, as is the inconsistent spelling (“Vayo” on the letter and “Voya” on the check.)
“It turns out there is a Voya Insurance, and their website explicitly states they are not running any sweepstakes,” according to the Senior Citizens’ Law Office.
Good news if you’re caring for a loved one and managing their money.
The new federal law that allows consumers to freeze and unfreeze their credit for free has a provision that gives the same privilege to certain financial caregivers, according to the Consumer Financial Protection Bureau.
That provision applies to those who have particular legal authority to act on someone else's behalf. It defines a "protected consumer" as an incapacitated person, someone with an appointed guardian or conservator or a child under 16.
To do this, you must give the credit reporting agencies proof of authority. That can include a court order, such as one that names you as a guardian or conservator or a valid power of attorney. You also have to provide proof of your own identity, with a Social Security card, birth certificate, driver’s license or other government-issued ID.
To initiate a freeze for anyone, including yourself, you must contact all three national credit bureaus: Equifax, 1-800-685-1111; Experian, 888-397-3742, and TransUnion, 888-909-8872.
A security freeze restricts access to your credit reports and makes it extremely difficult for identity thieves to open new accounts in your name.
The latest on phishing schemes: Several local residents have reported getting fake emails and texts from their banks or investment firms about a supposed issue with an account.
In certain versions, you’re supposed to call the number given; in others, you’re supposed to click on a link.
The Identity Theft Resource Center says in some cases, the “representative” will say the issue is that your account funds are limited due to a “failed authentication.” To reset your account, you must provide information about it, along with the PIN number and Social Security number.
Although it might seem easy to use the contact information provided or to just click the link, don’t be tempted. Instead, contact the bank using the number on the back of your card to check for any account problems.
“Setting up a verbal passphrase with your bank can help with rampant requests for verification from outsiders and minimize your risks of identity theft,” the resource center says. “This is a spoken word combination or statement that the account holder must say before the representative can share any details or take any action on the account.”
Ellen Marks is assistant business editor at the Albuquerque Journal. Contact her at emarks@ abqjournal.com or 505-823-3842 if you are aware of what sounds like a scam. To report a scam to law enforcement, contact the New Mexico Consumer Protection Division toll-free at 1-844-255-9210.