SUMMARY:  Fraudsters are getting more clever and devious with every passing day, which is why we’re sharing the top five types of fraud we’ve seen at the Credit Union.

Fraud can be tricky to spot, and it seems to be getting trickier by the minute. Fortunately, the Credit Union is here to help you stay ahead of scammers. To keep you better prepared for what’s out there, here are the top five types of fraud we’re currently seeing reported by members:

1. Spoofing
This type of fraud describes when scammers disguise their phone number or email to look like it’s coming from a trusted source. They might pretend to be from the Credit Union (oftentimes using our 800 number) or a government agency. If you receive an unexpected call or email asking for personal information, hang up and contact the organization directly.

2. Authority Impersonation
Scammers might pose as police officers, government officials, or company executives to pressure you into giving them money or personal details. Always verify the identity of the person contacting you before sharing any information.

3. Deposit Fraud
Scammers deposit an altered check or fake ACH transfer into your account, and once it’s flagged as unauthorized, sometimes a day or more later, the funds get pulled back, even if you’ve already spent them. Let checks sit at least five business days before spending the money and make sure any ACH payment is set up from the other person’s own account.  

4. Computer Compromise
This happens when a fraudulent link, ad, or phone call installs malware onto your computer, phone, or tablet; or talks you into installing remote-access software. From there, scammers can capture your online banking login, take over your email to reset passwords on other accounts, or access your files and payment information directly. Never click unexpected links, and never let anyone you didn’t call install software on your device.  

5.  Work Scams  
These scams often involve sending you a check to purchase office equipment (through the scammer’s preferred vendor) or asking you to move money around through your own personal account. Make certain to research the company thoroughly and be cautious of offers that seem too good to be true.  

You can learn a lot more about avoiding fraud as well as what to do if you become a victim of it, by visiting our Fraud Resource Center. If you think you’ve experienced fraud, make certain to contact us as soon as possible. Stay skeptical and safe.