RIP-OFF ALERT: The FTC has announced the largest-ever bust of telemarketers as part of its “Operation Tele-PHONEY.”

Here’s the scoop: Scammers were trying to sell people all kinds of things over the phone, from advance fee loans to big savings on Rx to magazine subscriptions to household products for seniors. Though they were many independent telemarketers, the common thread here is that they all sought to get your checking account information. Once they had it, they would bill you and try to empty out your account.

The banking industry continues to have zero security in place for drafts on your account. A legitimate person trying to cash a hardcopy check will be put through the ringer at bank. But if you just have an account number and present a draft, they’ll pay it no questions asked. This is a true Achilles’ heel that can easily be exploited by criminals.

The takeaway is simple: Never give out your check routing number over the phone or on the web. Pay via money order if you’re dealing with a collection agency. Sure, you may pay a nominal fee to do so, but this is the only truly safe way to settle up your debt.