Beware of These Common Scams
Many Americans have already received their third stimulus deposit, or they will be expecting it soon. Of course, you already knew that. The thing is, scammers know that, too. I’ve said it before, but fraudsters are opportunistic. Protect your account AND your identity from these common scams.
Fake Charities
Everyone wants to lend a hand, right? Scammers know this, and they use it to their advantage. They will create a false charity to get your donation. They often create realistic websites and email requests to dupe their victims. Before donating to any charity, be sure you know where the money is going. Do NOT click on links embedded into emails or text messages. Instead, spend some time on Google to verify that the charity is real, that it helps in the way it claims, and that your financial information is secure. Since the start of the pandemic, these types of scams have increased, so do your homework!
While we are on the subject of the pandemic, anyone claiming to have a cure for COVID-19, early access to vaccines, or in-home test kits is not telling you the truth. Keep yourself safe, and don’t fall for these scams.
Robocalls and Texts
Who ISN’T getting spam phone calls these days? I know I am. Make sure you add your phone number to the Do Not Call Registry. It won’t stop all of the calls, but it will provide some relief. The best course of action is not to answer a call from a number that you do not recognize. If it is important, they will leave a message. Block unwanted contacts from calling again (although it should be mentioned that robocallers cycle through an unbelievable list of phone numbers, so it may not stop the calls altogether).
If you find yourself on the other end of a spam phone call, hang up. Whatever you do, if you answer the phone and someone asks, “Can you hear me?” DO NOT SAY YES. Scammers commonly use this tactic to get your voice authorization for payments.
The World Wide Web
We LOVE our Internet, don’t we? It helps us access anything we want or need with a few clicks, taps, or swipes. It’s also a breeding ground for scams. Use caution when browsing the web, especially if you are entering payment information.
Look for the lock – the lock icon in the address bar indicates that the site is secure.
Check that address – before you perform any sensitive transactions, be sure that the site is legit. Double-check that the address bar shows the site that you want to visit.
If the price seems too good to be true or inexplicably expensive, keep looking.
Financial Fraud
There are many types of financial fraud. What it all boils down to is anyone who is trying to gain access to your money is perpetrating financial fraud. Protect your banking information, address, social security number, driver’s license number, and other personally identifiable information AT ALL COSTS. Once that is out in the world, you no longer have control over it.
What if you receive a communication from “your credit union” asking for information? Is it legitimate? Here’s a refresher on what information you can expect your financial institution to ask and what they definitely will NOT ask for by email, text, or when they call you.
Remember – a bank or credit union will ask you for information that is listed below when you call us. This usually happens if you are submitting an application, or if we are trying to verify your account.
We will NEVER ask you for your Online Banking password, credit or debit card PIN, or the answer to your security questions.
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Krista Kyte is a personal finance blogger and personal banker with over 18 years of experience in the financial industry. Krista is passionate about helping our members understand their financial situations. She writes tips that will help consumers reach and maintain financial security, and start living the life they’ve always wanted.
