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Consumer Alert

Saturday, June 16, 2012

Legal Speak

Beaumaster: Fraudulent Medicare Callers are Robbing Bank Accounts

There has been a rash of phone calls from solicitors claiming to be from the ‘Senior Medicare Card Office’ who are manipulating Medicare beneficiaries into revealing their bank account numbers.

There has been a rash of phone calls from solicitors claiming to be from the ‘Senior Medicare Card Office’ who are manipulating Medicare beneficiaries into revealing their bank account numbers. Once they have obtained this information, the solicitor then goes on to steal money from the beneficiary’s bank account. The caller initially explains that the beneficiary will be receiving updated Medicare cards within the “next three to five days”, but first, the beneficiary must verify over the phone, personal information, such as name, address and other information. As a lure to get the banking account number, the caller then reads the root number of the person’s bank (the first series of numbers on a check), then asks the beneficiary to …

Thursday, April 19, 2012

Legal Speak

Beaumaster: Financial Records—What to Keep and When to Toss

Shredding important documents is one of the most effective ways of insuring that financial information doesn’t end up in the wrong hands.

Shredding important documents is one of the most effective ways of insuring that financial information doesn’t end up in the wrong hands. The following is a simple record retention guide that may help to eliminate some of the confusion over how long financial information should be retained (Source: www.bankrate.com): 45 Days Credit card receipts: Receipts that match up with monthly statements can be shredded, but statements should be kept for seven years if used as documentation on tax returns (see Tax Returns, below): One Year – Permanently Paycheck Stubs: Reconcile paycheck stubs with the W2 form. If there are no errors, pay stubs can be destroyed. Bills: Bills can be shredded once canceled checks are returned. For large purchases, bills…

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