Tip of the Week: Millenium Scams (9/20/99)

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	Millenium Scams Financial Tip of the Week by Deloitte & Touche OnLine September 20, 1999

If you're worried about your money, check with your bank, not strangers.

See our archive of previous tips on your money, your taxes and your financial plan.

Is it the millenium? Or the apocolypse?

The end of the year brings the beginning of some new scams. According to the Wisconsin attorney general's office, some scam artists are calling consumers to tell them they must transfer their money out of their accounts to keep it safe. The money should be put into a bond account, the consumer is told. The consumer is then duped into giving account information and verbal authorization to transfer funds to a new special account.

The attorney general suggests:

Don’t give out any financial account information, your credit card number, or Social Security Number to people you don’t know, especially over the phone.
Keep copies of all financial records. Also, check your monthly statements for accuracy.
Talk to your financial institution about their Y2K efforts to eliminate problems.
Keep a watchful eye out for special investment opportunities that offer “the chance of the century.”
The ''opportunity'' to buy books and subscriptions to magazines and newsletters that will “save you from the crisis” is just another scheme to get your money.

Lastly, don't make any such moves without consulting friends or your Deloitte & Touche financial consultant.