Are you doing all you can to protect yourself against financial scams? Consumers Credit Union wants its members and the community to be aware and protect themselves from financial losses. Today we have Scott Dobson in studio.
Examples of scams: One thing Consumers has seen as technology advances and mobile banking has taken off are scams where people are duped into giving out their login credentials or passwords to fraudsters, who then use the Online Banking username and password to mobile-ly deposit fraudulent items and request funds back.
In fact, any time you are ever asked to send money backespecially now the trend is asking for gift cards, should be a red flag that something is up.
Over the years, we’ve encountered scams around secret shoppers, taxes (the IRS doesn’t call you), nannying services, romances (that foreign prince who needs your help), car wraps and other advertising scams. Even if you get a letter seemingly from a reputable company that fraudulent charges have been made to your card, check out the activity yourself.
Consumers also recently heard of fraudsters posing as credit union employees, who call and ask for your Online Banking credentials. They’ll then log into your account, change your password and transfer money out.
- How to protect yourself: The best thing you can do is to never share online access, passwords, PINs or other account or card numbers with others.
Ask yourself good questions
Common sense is your first line of defense when identifying a scam. Does the reward (or payment) make sense for the task involved? Is this offer out of the ordinary? Does the offer sound too good to be true? (If so, it probably is.)
If you ever need help determining whether an offer is legitimate or fraudulent, check with your financial institution. Consumers is here to help protect our members’ money and their personal information. Call them or stop by any of their convenient locations to speak with a staff member if you have concerns or questions
Consumers has some great promotions to kick off the New Year, including a 2.99% APR HELOC for 12 months and a 4.99% APR credit card Balance Transfer for 18 months. They’re also happy to announce that their Consumers Scholarship application is now open. This year they’ll be giving away one $20,000 prize and 10, $1,000 prizes! Visit ConsumersCU.org/scholarships for the details.