Fraud expert Frank Abagnale: Never use a debit card to pay for anything, if you can avoid it.

Use a credit card instead, where your liability, by law, is ZERO if your cc # is stolen and you report the theft within 30 days.

The same is NOT true of debit card fraud – it can take several months to get your money back from the bank, while they do an investigation – if you get it back at all.

via ralphnaderradiohour:

Ralph spends the hour with fraud expert, Frank Abagnale, inspiration for the Spielberg film, “Catch Me If You Can.”  They talk about how to protect yourself from identity theft and other scams in our high tech, digital economy.  Plus listener questions!

One pilot, stockbroker, and of the most daring con men, forgers, imposters, and escape artists in history, Frank  Abagnale enjoyed a brief but notorious criminal career during which he assumed various identities — including those of airline  doctor — in order to pass off approximately $2.5 million in phony checks before he reached the age of twenty-one.  His criminal adventures inspired Steven Spielberg’s film, Catch Me If You Can and the Tony-Award winning musical of the same name.  Now, Mr. Abagnale is one of the world’s most respected authorities on forgery, embezzlement, and secure documents.  For over forty years he has worked with, advised, and consulted with hundreds of financial institutions, corporations and government agencies around the world.  In addition to “Catch Me If You Can,” his books include “The Art of the Steal,” “The Real U Guide to Identity Theft”and “Stealing Your Life.”

“Obviously technology breeds crime. It always has, and it always will. And there always be people using technology in a negative, self-serving way. So, it’s a lot easier today to do some of the things that I did before.” – Frank Abagnale

AC

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