How to Spot a Scam

In a digital age, it is becoming easier and easier for scam artists to trick people into giving them their information or using them for their own benefit. Being a victim of a scam can result in anything from having money stolen from you to having your identification stolen, and the impact can be extreme. Learn how to spot and protect yourself from scams.

  • Posing as a Business or Institution You Recognize
    Scammers will often hide their real identity under businesses or institutions that are well-known, like the IRS or the Social Security Administration. Some will also make up official-sounding names and agencies. Typically, they use the cover of these identities to try to inform you that there is some sort of problem with your account, shipment, payments, etc. or that you have won some sort of prize.

  • Gives a Sense of Urgency
    Scammers tend to use a sense of urgency to cause panic and to try to get you to not think about or look into their story too much. Typically these will come in some sort of threat, like you will be arrested, your computer will be corrupted, or you will miss out on claiming your prize.

  • Directions on How to Send the Money
    Scammers will often insist that you give them money in a specific way, typically through a non-secure method. Most often they ask you to use a money transferring service, purchasing gift cards, or cashing a check they send you (which later turns out to be invalid) and sending cash through mail.

  • Too Good to be True
    Scams can often appear too good to be true. Perhaps you were considering taking a vacation and the cost seems unrealistically low, or you have been told you won a prize for a contest you never entered.

  • Common Scams
    Employment Scams - Some scammers will pose as an employer and send you a check in the mail insisting it is to pay for an at home setup for your new job. They instruct you to send a portion of the funds to a specified IT person as payment for the setup and that the rest of the money is yours to keep. The check is fraudulent, and you have to pay back the funds. Sometimes these scammers will also ask for your social security number. If an employer is truly looking to have you set up for at home work, they will have a designated IT person on their payroll who will do the work for the company. These scammers also don’t provide a W4 to fill out as a normal employer would.

    Overpayment Scams - When selling an item, a buyer sends a check that is of a larger amount than the agreed amount of the sold item. The check ends up being fraudulent and you then have to repay your financial institution the amount of the check, as well as any fees incurred. On top of having to repay the funds, you also lose the item you sold. You should always be cautious if a buyer offers to pay more for an item than what you are asking.

    Unsolicited Check Fraud - You receive a random check in the mail with an explanation as to why you received it. Typically, it is to act as payment for doing something, like having your car wrapped to sponsor a company, or it’s labeled as a refund for an overpayment. However, by signing and depositing the check, you may be entering into an unknown contract.

    Online Banking Login - Some scammers will pose as your financial institution or a friend and ask you to provide your login information so that they may assist in helping with an issue on your account or so they can deposit a check. You should never give out your online or mobile banking information to anyone. Your financial institution will not ask for this.

    Email Phishing - You may receive an email claiming to be from your financial institution informing you that there was an issue with a deposit or withdrawal and that you will need to verify your bank account or debit card number. This is an attempt by scammers to get your banking information. You should never respond to these emails, but if you believe that the email may be legit, it is best to reach out to your financial institution through a trusted avenue, such as calling them.

Keep in Mind:

Your credit union will never call, text, or email you to ask for:

  • Online or Mobile Banking Credentials

  • Passwords

  • Social Security Number

  • Mother's Maiden Name

  • Employer

  • Address

  • Phone Number

  • Any Other Private Personal Information

You must always be cautious of opening attachments, clicking links in texts & emails and when dealing with people you have never met in person.

Never share your personal account, identification information, or login credentials with anyone. This includes friends and family, lending companies, or anyone you meet online.

If your information has been compromised and you are a victim of a scam or fraud, please report the incident immediately to your financial institution.