Starter quiz
- What can borrowing money through credit cards lead to?
- no extra costs
- free rewards
- high interest rates ✓
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- Governments might need to borrow money if their expenditure is more than their ...
- budget
- income ✓
- salary
-
- Which type of card allows you to spend directly from your bank account?
- credit card
- membership card
- debit card ✓
-
- Match the words to the correct definition.
- bank account⇔a secure place to store, manage and access money ✓
- interest⇔the extra money you have to pay when you borrow money, as a fee ✓
- overdraft⇔when you spend more money than you have from your bank account ✓
- loan⇔a sum of money you receive and agree to pay back with interest ✓
- Forms of borrowing include short- and long-term loans, overdrafts and ______ unions.
- 'credit' ✓
- Which is not a financially responsible reason to borrow money?
- buy a house
- attend university
- buy a new game ✓
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Exit quiz
- Which of the following is the purpose of Action Fraud?
- to give away free gifts
- to sell financial products
- to investigate fraud ✓
- to support fraud victims ✓
-
- Government campaigns like 'Stop! Think ______' educate the public on fraud prevention.
- 'fraud' ✓
- What is a scam?
- a dishonest scheme ✓
- a form of entertainment
- a fun game
-
- Match the words to their correct definition.
- fraud⇔someone acts, lies or breaks trust to gain money or cause a loss ✓
- phishing⇔attempt to get sensitive information by pretending to be trustworthy ✓
- pharming⇔redirecting users from a legitimate website to a fraudulent one ✓
- Awareness of phishing, pharming, APP fraud and __________ fraud helps protect financial security.
- cyber
- cryptocurrency ✓
- identity
- financial
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- When a bank phones you they will ask you to tell them __________ of your personal details.
- all
- some ✓
- none
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Worksheet
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Lesson Details
Key learning points
- Fraud is deception for financial gain, often through scams that steal money or personal information.
- Awareness of phishing, pharming, APP fraud and cryptocurrency fraud help protect financial security.
- Action Fraud and banks have teams to investigate fraud and support victims.
- Government campaigns like 'Stop! Think Fraud' educate the public on fraud prevention.
- Avoiding suspicious links, verifying payment sites and protecting financial details help prevent fraud.
Common misconception
When a bank phones you they will ask you to tell them all of your personal details.
Your bank will only ever ask you to disclose some of your personal details, never all of them. If you are asked for all of your details, it is a scam.
Keywords
Fraud - when someone acts, lies or breaks trust to gain money or cause a loss; it's a broad term that covers different types of crimes; fraud can happen online, in person, or through letters or messages
Scam - a dishonest scheme designed to trick people into giving away money, personal information or valuables
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