Fraud Prevention

Identity theft is a constant threat in today’s digital world. Monitoring your credit report regularly is a powerful tool to detect suspicious activities and unauthorized accounts promptly, preventing potential damage. By keeping an eye on your credit report, you can also identify errors that may impact your creditworthiness and take steps to fix them. Free annual reports offered by credit reporting agencies, like annualcreditreport.com, allow you to access your credit information and safeguard your financial well-being, ensuring peace of mind when you need it the most.

Are you noticing fraud on your credit report? Take action immediately to protect yourself and repair your credit file by contacting the Federal Trade Commission.

Scammers are now demanding payment in cryptocurrency. Investment “opportunities” are one of the top ways scammers trick members into buying cryptocurrency and sending it on to scammers. But scammers are also impersonating businesses, government agencies, and a love interest, among other tactics.

Someone might call pretending to be from the government, law enforcement, or a local utility company. Maybe a romantic interest whom you met online calls, or someone calls to say you’ve won the lottery or a prize. They’ll wind up asking you for money. If you believe the story that they tell and you seem willing to engage, they’ll stay on the phone and direct you to withdraw money from your bank, investment, or retirement accounts. They’ll then tell you to go to a store with a cryptocurrency ATM (and they’ll stay on the phone the whole time). Once you’re there, they’ll direct you to insert your money into the ATM and buy cryptocurrency. They’ll then send a QR code to you with their address embedded in it. Once you buy the cryptocurrency, they’ll have you scan the code so the money will get transferred to them. But then your money is gone.

Here’s the main thing to know: nobody from the government, law enforcement, utility company, or prize promoter will ever tell you to pay them with cryptocurrency. If someone does, it’s a scam, every time. Any unexpected tweet, text, email, call, or social media message—particularly from someone you don’t know—asking you to pay them in advance for something, including with cryptocurrency, is a scam.

With that in mind, it’s important to recognize common red flag indicators associated with this type of fraud:

• Only scammers demand payment in cryptocurrency.
• Only scammers will guarantee profits or big returns.
• Never mix online dating and investment advice.
• No reputable company will ever request access to your computer, login information, or payment to get your “account back”.

Debt collection scams take advantage of vulnerable individuals struggling with financial difficulties. These scams often involve impersonating legitimate debt collectors and using aggressive tactics to intimidate victims into paying nonexistent debts. It’s important to stay vigilant—verify the legitimacy of any debt collector and report suspicious activity to the appropriate authorities to protect yourself and others from falling victim to these deceptive schemes.

Grandparent scams prey on the emotions and trust of older adults by impersonating a grandchild in distress. Scammers typically reach out by phone, claiming to be in an emergency situation and urgently needing financial help—relying on the grandparent’s love and concern to convince them to send money or expose personal information. It’s important for seniors and their families to stay informed about these scams, maintain open communication, and verify any requests for financial assistance before taking any action to ensure their safety and security.

Selling your unwanted items online can be a great way to make some extra cash. Craigslist, Facebook Marketplace, and other sites attract a lot of buyers—and scammers. It’s important to always beware of who you’re interacting with on online marketplaces and how scammers target you for identity theft and fraud. Many sites recommend selling your stuff to a local buyer you can meet in-person and only accepting cash payments. If you’re not selling locally, see what seller protections the site offers.

To avoid a scam:

• Don’t accept a mobile payment from someone you don’t know.
• Never deposit a check for more than the selling price.
• Don’t share your Google Voice verification code—or any verification code—with someone you don’t know.

Sweetheart scams are deceptive attempts where fraudsters create fake online identities to manipulate and exploit individuals looking for love or companionship. These fraudsters often establish a deep emotional connection with their victims and gain their trust and affection before exploiting them for financial gain. These scams can result in significant financial losses, emotional distress, and a shattered sense of trust—highlighting the importance of staying vigilant and cautious when swiping right.

With technology, it’s easier than ever to connect with others and people are just a click or call away. Nobody knows that better than scammers, who might try to contact you about a supposed virus or malware they’ve “found” on your device. If someone unexpectedly calls or messages you, claiming your computer’s security is at risk, it’s a scam.

Here’s what to do:

• If you get an unexpected call from someone saying there’s a problem with your computer, hang up. It’s a scam.
• Don’t click any links in an unexpected message or email. And never call phone numbers left in voicemails, emails, texts, or social media messages.
• Don’t give your personal or financial information in response to an unexpected request. Legitimate organizations won’t call or message asking for your Social Security, credit card, or bank account number, or your password.
• Update your computer’s security software. If you suspect a computer problem, run a security scan to find and remove malware. And turn on automatic updates so your security software can keep up with the latest protections against security threats.