Common Scams and Tips to Avoid Them

Fraud is widespread and can happen to anyone. We identified a few commons scams to help you stay better prepared. Learn tips to protect yourself from identity theft, financial loss and more!

Fraudsters and scammers are skilled at exploiting individuals through various channels, including social media, text messages and emails. They follow a formula where they first establish contact, build trust and then present an opportunity, or a problem, that demands your immediate attention. This "opportunity" will be communicated as urgent, time-sensitive, or to help a loved one. These are all tactics to throw you off. Read on for scams to watch for and ways to protect yourself.

Examples of common scams:

Investment Fraud is on the rise. If you are looking to invest your money, be sure it is through a reliable source. If you are approached with an investment opportunity, research where your money is going. Verify that the source is trustworthy before sharing any personal information.
Sweetheart Scams appeal to your emotions to gain information about you or receive monetary funds. Romance scams tend to occur through online dating platforms and social media. The scammer will pose as a romantic partner before ultimately requesting money.
Work Scams target those looking for hire, especially those looking for a role where they can work from home. If you are approached with a job opportunity that seems “too good to be true,” it is important to verify the job opportunity. This helpful checklist can help you identify different types of job scams, and be sure your new opportunity is safe.
Social Media Scams are becoming more common. Unknown accounts may reach out, claiming you have won a prize or offering an opportunity to secure easy money. This is probably a scam. You can report scammers and adjust your privacy settings to safeguard your account. As an important precaution, NEVER share your personal or bank information through social media. These platforms are not secure and confirmed accounts can be compromised.
Mailed Offer Scams promise "debt relief" from unverified and unsolicited sources. These requests may ask for your personal information in order to steal your money or identity. Never provide personal information to a source you have not confirmed as legitimate.
Charitable Scams are very real. They will appeal to your caring nature and concern for the community. It is important to research the charities or crowdfunding sites you plan to donate to, before sending in your contribution.

Tips to avoid a scam:

Spoofed emails may appear to be from a legitimate company, but there will be indicators to suggest phishing. Always inspect the sender's email address and do not reply to emails or click on links in unconfirmed messages. If the email requests your personal information, do not send any information until you have verified that the email is from a safe sender. Here are some more tips to recognize and avoid phishing scams.
Requests for payment via wire transfer is immediately questionable. Wire transfers are similar to cash in that once they're sent to a fraudster, that money is irretrievable.
The website is not secure. If you're submitting payment online and the address isn’t “https://” or you don’t see a padlock in your browser, you should head to another site.
If you're being pressured to act fast, resist the pressure or intimidation tactics. Take the time to verify the details – legitimate companies will afford you the time to proceed responsibly.
Read additional identity theft prevention tips on our website.
Stay informed on how to avoid a scam.

CU1 SAFETY TIP
Remember that Credit Union 1 will never call, email or text asking for your Social Security Number, credit card numbers or login information.

If you think you have been a victim of fraud:

Contact Credit Union 1 immediately. You can email membermail@cu1.org or call (907) 339-9485 or (800) 478-2222. We take fraud alerts seriously and immediately proceed to investigate the claim. If you recognized the phishing attempt and avoided it, way to go! Please still alert CU1, so we can make the efforts to eliminate the threat for others.

You can also report scammers to the FBI Internet Crime Complaint Center.