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In today’s digital world, fraudsters are constantly developing new tactics to steal personal and financial information. Whether it’s online, at the ATM, or through your mailbox, it’s more important than ever to stay alert. Understanding the common types of fraud and recognizing the warning signs can protect you—and your money.
1. Phishing: Don’t Take the Bait
Phishing is a type of cyberattack where fraudsters pretend to be trustworthy source to trick you into giving away personal information
Signs of Phishing:
-Emails or messages that create a sense of urgency (“Your account will be closed!”)
-Requests for personal info like passwords or credit card numbers
-Links that look legitimate but direct you to a fake website
How to Protect Yourself:
– Verify the sender’s e-mail address
– Never share sensitive information
– Use two-factor authentication where possible
2. Card Skimming and Shimming: Hidden Devices, Real Danger
Skimming: targets the magnetic stripe on your card.
Shimming: targets the EMV chip, using a thin, hidden device inside the reader.
Signs of Skimming/Shimming:
-Loose or bulky parts on a card reader or ATM
-Difficulty inserting your card
-ATMs that look tampered with or different from others nearby
How to Protect Yourself:
–Wiggle the card reader before inserting your card
-Cover the keypad when entering your PIN
-Use machines in well-lit, secure areas
-Opt for contactless or tap payments when possible
Check Fraud: Old-School but Still Effective
Even in a digital age, check fraud remains a common scam. Fraudsters may forge, alter, or counterfeit checks to steal money—or steal checks from your mailbox and “wash” them to change the details.
Signs of Check Fraud:
-Checks clear that you don’t recognize
-Unexpected checks in the mail
-Duplicate or bounced check alerts from your credit union
-Altered handwriting or mismatched fonts
How to Protect Yourself:
-Monitor your bank statements regularly
-Don’t leave outgoing checks in an open mailbox
-Shred old checks and documents with personal info
-If you receive a check in the mailbox and unsure, always bring to your credit union for assistance.
4. Account Takeover Fraud: When Thieves Become You
In an account takeover, a fraudster gains access to your online account and uses it as if they were you. They may steal money, lock you out of your account, or use your identity for more fraud.
Signs of Account Takeover Fraud:
-Password reset e-mails you didn’t request
-Unfamiliar transactions or orders
-Changes to your account details (e-mail, phone number)
-Locked out of your own account
How to Protect Yourself:
-Use strong, unique passwords for each account
-Enable two-factor authentication as possible
-Watch for suspicious activity and login attempts
-Avoid using public Wi-Fi for financial transactions
Final Thoughts: Stay One Step Ahead
Fraudsters are clever, but awareness is your best defense. By knowing the signs of fraud and taking simple precautions, you can protect your identity, your finances, and your peace of mind.
Remember: If something feels off, trust your instincts and verify before taking action. When in doubt, contact your bank, credit card issuer, or service provider directly using official contact information.
