Categories: Uncategorized

Stop abbreviating 2020. Police say it leaves you open to fraud and could cost you big

From USAToday.com

The new year is giving scammers an easy way to forge documents, but you can protect yourself with an easy New Year’s resolution: Stop abbreviating the year.

Why? This year’s abbreviation is easily changeable and could be used against you. The concern is that scammers could easily manipulate a document dated “1/1/20” into “1/1/2000” or even “1/1/2021.”

Writing out the full date “could possibly protect you and prevent legal issues on paperwork,” according to Hamilton County, Ohio, Auditor Dusty Rhodes.

While it’s early in the year for examples of this kind of fraud to emerge, the threat is real according to Ira Rheingold, the executive director of the National Association of Consumer Advocates.

In a message emailed to USA TODAY Thursday, Rheingold said scammers could use the method to establish an unpaid debt or to attempt to cash an old check.

“Say you agreed to make payments beginning on 1/15/20. The bad guy could theoretically establish that you began owing your obligation on 1/15/2019, and try to collect additional $$$,” Rheingold wrote.

In the future, post-dating could be a problem too. For example, a check dated “1/1/20” could become “1/1/2021” next year, possibly making the uncashed check active again, Rheingold wrote. A similar method could be used for debts that are past the statute of limits.

The solution is easy: There’s no harm in writing the full date. Writing the month out can also help.

Write this: January 15, 2020. Not this: 1/15/20.

Police have echoed the advice as well.

“This is very sound advice and should be considered when signing any legal or professional document. It could potentially save you some trouble down the road,” the The East Millinocket Police Department in Maine said in a Facebook post.

The solution is easy: There’s no harm in writing the full date. Writing the month out can also help.

Write this: January 15, 2020. Not this: 1/15/20.

Police have echoed the advice as well.

“This is very sound advice and should be considered when signing any legal or professional document. It could potentially save you some trouble down the road,” the The East Millinocket Police Department in Maine said in a Facebook post.

Recent Posts

Changes to Social Security’s Online Services

The Social Security Administration (SSA) is transitioning to a new login platform to enhance security and…

4 months ago

How Will Congress Fix Social Security?

It seems like every news cycle includes an article about how the Social Security trust…

5 months ago

Why Betting Your Investment Portfolio on the Presidential Election is Like Picking Your Retirement Date Based on a Horoscope

Investing based on the outcome of an upcoming presidential election is a bit like deciding…

6 months ago

A Big Congratulations to Dave Balakrishnan, AIF®, MBA – Now Dave Balakrishnan, CFP®, AIF®, MBA!

We are delighted to announce the latest addition to our team of 15 CFP® professionals…

6 months ago

How To File Your 2023 QCD

If you or someone you know made a qualified charitable distribution (QCD) from your IRA…

9 months ago

Bitcoin ETFs: Opportunity or Risky Business?

Recent developments in the world of cryptocurrency have brought Bitcoin exchange-traded funds (ETFs) into the…

10 months ago

This website uses cookies.