Epps Consulting Looks at 2011's Top Frauds, Schemes and Scams

SCOTTSDALE, Ariz., Nov. 30, 2010 /PRNewswire/ -- Joe Epps and Tim Tribe, forensic accountants (www.eppscpa.com), are seeing signs that fraud cases are on the rise during our current economic recovery. In fact, according to a recent report published by the Better Business Bureau, the number of scams in the U.S. continues to rise everyday.

"Our natural tendency as consumers in a recovery is to increase spending. We begin looking to make purchases that we would have avoided during the uncertainty of a recession as we feel more confident in the stability of our employment and in the economy in general," notes Joe Epps, President of Epps CPA Consulting PLLC.

This type of scenario – a marked change in the economic environment, combined with individual desire for consumption stunted by credit restrictions – is just what the 21st century consumer fraudster is looking for. 

Tim Tribe of Epps Consulting offers some tips for consumers to keep in mind:

• "Credit Repair" is generally a fallacy – the only thing a "Credit Repair" business can legally do for you is assist you in correcting existing errors on your reports from the various credit agencies. This is something you can easily do for yourself. Any offer to help you remove a foreclosure from your record, or otherwise "clean" your credit, is nothing more than an empty promise;
• Never pay someone else to negotiate with your credit card companies – most often you will be charged a significant up-front fee for someone to call your credit card company and ask for a reduction in an interest rate, or more favorable payment terms. Again, you can do this yourself at no cost;
• Never agree to any unsolicited offer received by phone or e-mail – any legitimate offer that's available by phone or e-mail will also be able to provide hard-copy information and can be researched with the Better Business Bureau;
• Never click on an offer link for an unsolicited offer received by e-mail – this is a common method for phishing scammers to gain access to your computer;
• Never provide a social security number, credit card number, or bank account number to someone making an unsolicited offer to you over the phone or e-mail – if the offer's legitimate, they won't mind you asking for disclosure and "fine print" that's a little more tangible and can be reviewed by a trained professional;
• Never give in to the "it's only available today" pressure line – legitimate offers generally don't require a 30-second decision process.  If the person making the offer won't let you think on it, walk away;
• Enroll in a legitimate credit and identity monitoring program – each of the credit reporting agencies (Experian, Equifax, and Transunion) offer legitimate credit monitoring services;
• Never sign anything you don't understand – if you don't understand the offer, you're at a disadvantage.

Visit www.eppscpa.com.

SOURCE Epps CPA Consulting PLLC