Financial fraud is on the rise.

 

Financial fraud seems to be rising at an accelerating pace.

I just had an charge on one of my ATM cards that I rarely use, and the account balance is under 100 bucks.

I have multiple accounts for this vary reason. I can transfer money from my various accounts and use othet ATM accounts to spend or withdraw money if I need to cancel a card and have a new one sent out.

This seems to be happening more. This account is rarely used so I was surprised someone got access to it.

When I called the bank and talked to the fraud department, they told me the charge was made online and an address that wasnt mine was used. So the fraud department canceled the card and allowed me to dispute the charge and wait a few weeks to have the money refunded. 

Im just curious how my account was accessed.  Its not really important though, even if I rarely use it. I just canceled the card and be more aware of how I use all my cards and keep track of charges that dont make sense.

I cant add much accept to say the US Treasury Department has said with AI technology, there is and will be more fraud, and they invited all the high street banks into a discussion on what they plan to do to combat all this.

Im starting to think it may make sense to only buy with credit cards as its easier to dispute charges and get refunds and you seem to get more protection from fraud compared to ATM accounts, although thats changing. 

My other idea is to store some wealth offline in the form of gold and silver coins, and get some anonymous protection from criminals and other enemies. 

It maybe worth while to have and use USD dollar coins, and BTC stored on cold wallets, just to have some privacy and something to fall back on if you need to leave your legal jurisdiction and your banks, brokerages are frozen or just cant access to them for legal reasons.

These things like fraud, getting debanked are happening more and more in the Western World, and some other countries are copying Western World laws and customs,  which is sad.

The loss of liberty in the Western World is sad to see and explains why more and more people are leaving the West to be in lower cost of living places and to store money in banks like Singapore or even Switzerland if you can get an account there, or even the Caribbean. 

Even countries like Georgia are becoming fashionable to access places like Russia if your in the West or your Russian and need to transfer wealth from the West, or your stuck using BTC or USD dollar coins which works too.

Good luck our there.