I realize that I am the dean of an ONLINE campus. So
by that virtue, I should not make silly mistakes when it comes to online
accounts, and internet use. However, we all make mistakes, and this one
almost cost me a fortune. Here is what happened, and here is what I
learned that I want to pass on to you.
A few months ago, I decided to create Facebook ads for a few
of the books I wrote. I loaded my debit card information in to the ad
manager site on Facebook (my first mistake) and set a limit for the ads. They
run for a few weeks and that was that, or so I thought. Recently, I
realized that I had left that account information in my Facebook account.
How did I find that out? Well, that is the hard part. I tried using my
debit card and realized that my bank had shut it off. Thinking at first
that I might have just gone to an establishment that was having terminal issues
(we’ve all had our cards declined at one place only to have it accepted a few
moments later at another), I decided to log in to my account via my banking app
on my smartphone. That is when I realized I was the victim of debit card
fraud. It took me a moment or two to fully embrace the situation, as I
think my head was spinning for a few moments, and when I came to my senses, I
realized that thousands of my hard-earned dollars in my checking and savings
account had been debited by Facebook for ads. Luckily, Facebook had shut
down my account because they saw suspicious activity, and my bank had already
alerted their fraud prevention and loss department. Long story short is
that the money was replaced, but I had to sweat it for about 24 hours before
all was calm and cool.
So what did I learn from this situation, and what can I
leave you with from all this? First, change your password on your
Facebook page routinely. Facebook has suffered a string of attacks lately
where people have hacked in to user accounts. What they are looking for is
financial information. Other hackers are there to just cause mischief,
which can cause you a lot of heartache as well, but the loss of hard-earned money
is always a stress agent. Second, it is better to do business online with
credit cards rather than debit cards. When your debit card information is
stolen, that means actual fund are being taken out of your
checking/saving. If you were using a credit card, the money is not
actually coming right out of your pocket. The credit card companies are the
ones taking the immediate hit. Reporting fraudulent activity to them usually
results in them reimbursing you for the lost funds and them going after the crooks.
This is not always the case, but it is much easier to dispute credit card
charges and not pay them until they are resolved than to look in to your
checking and savings account and realize you have gone from okay to destitution
in one fell swoop. Third, if you do use your debit card OR credit card
for purchases at Facebook or any other site, do not allow your information to
be stored there. Remove it and use it only when you make a
purchase. Too many times have I heard people say that they have seen small,
yet odd purchases on their cards. My hackers got me for several large amounts.
Most of these hackers are now only getting a few dollars at a time so that you
do not notice it. You can remove payment information in Facebook by going
to the settings tab and then clicking on payments. Once there, click on
account settings and go from there. I promise, it could cost you a lot of
money if you don’t clear that information out.
Here are some websites that offer information on how to
protect yourself from debit card fraud:
http://www.bankrate.com/financing/credit-cards/11-ways-to-protect-against-debit-card-fraud/
http://www.bankrate.com/financing/credit-cards/11-ways-to-protect-against-debit-card-fraud/
Whatever you do, be smart and alert. I was fortunate,
but this could have turned out much differently.
Dean Jeff Wells
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