Financial Fraud Protection Bloomfield Hills MI

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Lyle F. Dahlberg
(248) 408-7951
2842 Whittier Dr
Bloomfield Hills, MI
State Licensing

Richard T. Hewlett
(248) 642-8439
39533 Woodward Ave Ste 200
Bloomfield Hills, MI
State Licensing

Jeffrey K. Haynes
(248) 645-9400
200 E Long Lake Rd Ste 110
Bloomfield Hills, MI
State Licensing
DC, Michigan

Peter A. Davenport
(248) 723-4747
39400 Woodward Ave Ste 200
Bloomfield Hills, MI
State Licensing

Alex L. Alexopoulos
(248) 593-5000
3910 Telegraph Road, Suite 200
Bloomfield Hills, MI
Detroit College of Law at MSU
State Licensing
Michigan, Ohio

Ward Randol Jr.
(248) 433-7200
38525 Woodward Ave Ste 2000
Bloomfield Hills, MI
State Licensing

Lauren Ben-Ezra Tritt
(248) 645-1450
74 W Long Lake Rd Ste 200
Bloomfield Hills, MI
State Licensing

R. Bradley Lambert
(248) 642-7774
36330 Woodward Ave Ste 300
Bloomfield Hills, MI
State Licensing

Barry Daniel Malone
(248) 540-7400
40950 Woodward Ave Ste 300
Bloomfield Hills, MI
State Licensing

Walter J. Piszczatowski
(248) 335-5000
1760 S Telegraph Rd Ste 300
Bloomfield Hills, MI
State Licensing

Protect Yourself from Financial Fraud

Provided By: 

Tips for the Self-Employed

By Christopher J. Bachler

The first rule for home businesses and boxers is the same: “Always keep your guard up.” That’s because fraud in the business world today is more common than ever before. Advanced technology, the “shrinking world,” and the ongoing growth of a “virtual economy” are all partly to blame. Identities are easy to steal, and fortunes may be made or lost with a few keystrokes. Scammers can strike with impunity from any part of the globe, even from countries that have no extradition treaties with the United States.

Along with identity theft and online fraud, honest businesspeople need to watch for investment fraud, telephone fraud, and even work-at-home scams. That’s why small businesspeople need to be aware of these growing perils, familiar with the most common schemes, and know how to protect themselves.

Business Associates

Hearing so much about “cyber attacks” and identity theft, it’s hard to imagine that any peril could be greater. But for the typical small businessperson, there is actually a greater chance of being taken by those we know than by those we don’t.


If you’re stung by a customer, it will most likely be through some form of payment fraud. If they simply won’t pay, you can take them to court. But suppose the fraud is bigger and more complex? Suppose you receive a bad check, for instance. Check fraud is actually on the rise, due mainly to the capability of today’s computers and printers to produce authentic-looking checks. Identity thieves might even be using bogus bank accounts.
Before accepting checks, watch for checks with:

· Serial numbers lower than 200.

· Poor print quality

· A lack of bank information or clear account numbers

· No perforated edges (other than government checks)


· Signatures that are hard to read or don’t fit properly in the space provided
If you accept payment cards, watch for cards that are:

· Newly issued
· Don’t match the person’s identification
· Appear to be retouched
· Have unclear numbers or print
· Appear to be strange or unconnected to easily-identifiable financial organizations

Also beware of buyers who use cards with which they don’t seem to be familiar, or who pull the card from a pocket instead of a wallet. Another scam is known as “bust out fraud.” These individuals start out paying their bills on time. Once they gain the seller’s confidence, they will gradually increase their purchases until they make a large purchase, and then fail to pay. They might simply disappear, or file for bankruptcy.
To avoid this trap:

· Be careful about extending credit to new customers.

· Check out a customer’s credit history before granting credit.

· Watch for customers who incrementally buy more on credit.

· Establish firm credit limits.

· Avoid buyers who don’t provide home or business addresses.

Always seek payment as soon as possible following service, and before you do more w...

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