Are you a victim of “cramming?”

September 24, 2009 – 3:48 pm

cram There’s a new scam going around called “cramming” and you may be an unknowing victim.

Cramming is the act of pulling small amounts out of a victim’s bank account. These amounts, normally in the realm of $5-$10 dollars, are normally unnoticed by the victim. Just think about it: how often do you look at all the charges on your bank statement and account for each and every one? Personally, I know it’s something that I rarely do and I’ll be checking much closer now that I know about the scam.

The Better Business Bureau was quick to warn people about this new scam. Mike Rohrer of the Arkansas Better Business Bureau points out why the scam is quickly becoming popular: “The mindset is if my bill’s not much I’m not going to look at it and that’s where the public is losing money.” Cramming takes advantage of the lazy among us who don’t bother to keep their checkbooks balanced or an eye on every purchase that is issued.

So the next time your statement arrives get out a fine-toothed comb and give it a once over. Any suspicious activity can be confirmed by your banking institution. Doing so might also help you come across pointless services or automatic debits for products you no longer need. Even trimming a small amount of fat from your account could help your finances in a large way.

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