security Archives - High Point FCU

Spring has Sprung Scams: Facebook Marketplace

With Spring in the air, a lot of people have started their Spring Cleaning, selling unused, unwanted items on Facebook Marketplace. Facebook Marketplace has become a hotspot for scammers. Here are some things to look out for:

Prices that are too good to be true

One red flag to watch out for is if a seller is offering an item at a price that seems too good to be true. Scammers often lure in buyers with significantly low prices to attract attention. In the end, the buyer never receives the item. Another warning sign is if the seller insists on using unconventional payment methods or requests personal information such as your bank details or social security number. Never share your personal information and report any suspicious behavior.

Rental Scams

A scam that has become increasingly popular is rental scams. These scams show fake listings for a number of different items. Such as, boats, bikes, equipment, properties, etc. In this scenario, the scammer will ask for payment upfront or a deposit to secure their rental. The victim then ends up with no rental and lost money. Protect yourself by first seeing the rental in person and paying after, use reputable rental platforms instead of Facebook, be cautious of below-market pricing, and avoid wire transfers.

Return Scams

In this scam the buyer states that they want to return the item that they purchased, they will ask for a refund. The scammer will then either not return the item or return a similar item that is broken or something totally different than the original item. The fraudster will send fake tracking information to show “proof” that they are returning the item. To avoid this scam, sellers should wait for the returned item and check that it is in good condition before issuing any sort of refund.

Two-Factor Authentication Codes

Never share a two-factor authentication code! If someone asks for this code, there’s a high chance that you are speaking to a scammer. These codes are ONLY meant for you. Phishers will ask you to send them this code to verify that you are who you say you are. In reality, they are really going to use this code to log in to one of your accounts. You are at risk of being hacked if you share a two-factor authentication code.

Trust your Instincts

To stay safe while using Facebook Marketplace, it’s recommended to meet sellers in person, in a public place, and inspect the item before making any payment. Share your meeting location/plan with a friend or family member and avoid carrying large amounts of cash with you. Additionally, trust your instincts – if something feels off or suspicious, it’s better to walk away from the deal. By staying informed and alert, you can enjoy the benefits of Facebook Marketplace without falling prey to scams.

https://www.aarp.org/money/scams-fraud/info-2024/facebook-marketplace.html

https://www.comparitech.com/identity-theft-protection/top-facebook-marketplace-scams/

https://www.facebook.com/help/2374002556073992

Don’t Get Caught in an Emergency Scam!

Your grandson’s calling – and he’s in bigtime trouble! He’s been kidnapped and being held for ransom, so he needs you to wire over money ASAP.

Before you wire over anything, stop! You’re probably being scammed. Here’s what you need to know about emergency scams and how to protect yourself.

How the scams play out

In an emergency scam, a target gets a phone call, email or text message pretending to be a close relative. The caller will claim to have been caught in hot water, which can be anything: a kidnapping, an issue with the police, a car accident or getting stuck overseas with no money.

The caller will then ask the target to send over money pronto, using a wire transfer or prepaid debit card. While emergency scams are commonly played out with a grandparent of an alleged caller, they can also target the parents, uncles, aunts, and siblings of the “caller.”

Unfortunately, if the target follows the caller’s directions by sending over money, these funds will go into the scammer’s pockets.

Red flags

Here are some signs that can alert you to the possibility of an emergency scam:

Your “relative” calls to tell you about an emergency situation they’re in, but they ask you not share this information with family members or anyone else.
You’re urged to act quickly.
You’re asked to send money by a wire transfer, prepaid gift card or cryptocurrency.
You’re asked to share sensitive information over the phone.

Protect yourself

Follow these tips to help keep yourself safe from emergency scams:

If a friend or family member calls you with an urgent request for funds, hang up and call them directly from a number they’ll recognize.
Never wire money or send a prepaid gift card to an unverified contact.
Ask an alleged caller some questions about your shared memories to determine if they actually are who they claim to be.
Always be cautious and avoid acting rashly regardless of the situation.
Don’t share your personal info with an unknown contact.
Don’t be afraid to share details of a phone call with other family members and friends.

Stay safe!

All You Need to Know About Tech Support Scams

There’s little in life that’s more frustrating than a computer that won’t do its job. But sometimes, like your own private miracle, a message appears on your screen. It says: “Technical difficulties? Click here for assistance.”

Unfortunately, if you follow these instructions, you’ll probably fall directly into a scammer’s trap. Here’s what you need to know about technical support scams and how to prevent yourself from falling victim.

How the scams play out

In a tech support scam, a target may have an unresponsive computer with a message, get an email, text message, pop-up or even a phone call allegedly from a computer technician who works for a well-known company. The “rep” will offer to help with any computer issues they may (or may not) have. They’ll direct the target to call a specific number or click on an embedded link, which will connect them to the “rep” who can supposedly help them. Once connected, the scammer will ask the victim to pay for the services before they’re rendered using a wire, prepaid gift card or cryptocurrency. Once the payment is made, the scammer disappears.

Red flags of technical support scams

You get an unsolicited message or phone call offering tech support for an issue you aren’t having.
Your computer may be unresponsive playing an alert audio with a phone number to call.
You’re required to pay for tech support by wire transfer, prepaid gift card or crypto.
A pop-up message appears claiming there’s a security issue with your computer and directing you to call a specific number.

What you need to know about tech support

Legitimate tech companies won’t reach out to you by phone, email or text message to let you know your computer is having issues.
Security pop-up warnings from authentic companies won’t ask you to call a number or click on a link.
Legitimate companies won’t demand that you pay for a service by wire transfer, prepaid gift card or crypto.
Logos are easily spoofed and should never serve as proof of a message’s true origin.

Protect yourself

Don’t fall for a tech support scam!

First, if you run into technical difficulties with your computer, don’t wait for a rep to contact you to offer assistance. Instead, directly reach out to a trusted company.

Also, if you believe there may be a problem with your computer, update its security software and run a scan to identify any potential problems.

Finally, never provide an unverified contact with access to your device or credit card information.

If you’ve been targeted

If you believe you’ve been targeted by a tech support scam, here’s how to mitigate the damage.

If you’ve given a scammer remote access to your computer, update your computer’s security software, then run a scan and delete anything that’s flagged as a problem. If you’ve shared your login credentials with a scammer, change all your passwords.

If you’ve provided any credit card or banking information, contact the institution and relay the situation.

Report the scam to the FTC.

Stay safe!

How to Avoid Romance Scams this Valentine’s Day

Don’t be the next victim of a romance scam! Here’s all you need to know:

How the scam plays out

In a romance ruse, a scammer will create a bogus online profile and attempt to connect to singles on dating apps and websites, as well as through social media platforms. After a connection is formed, the scammer will work to build up the relationship with the victim, calling and texting often. Once the scammer has gained the victim’s trust, the scammer will spin a sorry story and ask the victim for money.

The scammer may explain that they cannot meet in person because they are currently living or traveling outside the United States. They’ll claim to be a doctor working for an international organization, a blue-collar worker in the middle of a construction project or to be part of the military and currently serving overseas. They may ask for money to help cover travel expenses, pay for medical treatment, cover customs fees at the airport or to pay for a visa or other official travel documents.

The scammer will ask for payment via wire transfer or prepaid debit card. Once they’ve received the funds, they will disappear. Alternatively, the scammer will ask their “date” to share personal financial information and then go on to empty the victim’s accounts.

How to spot a romance scam

If you’re in the market for a new date and you’re hoping to meet someone online, look out for these red flags:

Profile is too good to be true. If a single’s profile has unrealistic credentials, including a magazine-worthy photo, you’re likely looking at a scam.
Single rushes into the relationship. If the contact comes on too strong, too fast, it may be a scam.

Single asks you for money. Don’t believe a money-starved story of someone you just met online, especially if they start asking you to help them out.

How to play it safe online

Avoid falling victim to romance scams and similar ruses by following basic online safety rules.

First, never share personal details online with anyone whose identity you cannot verify. This includes all financial information, credit card details and personal information that can be used to unlock a password on any of your accounts.

Second, only visit secure sites and keep all the settings on your social media pages private. Never engage in conversation with a stranger who reaches out to you on a platform you’ve just begun using, or who sends you personal texts or emails you without any prior communication.

It’s equally important never to send money to anyone online.

If you suspect a romance scam

If you believe you’ve been targeted by a romance scam, take these steps to avoid further damage:

Research the name on the profile to see if the details check out. You can also use an online background checking tool, such as BeenVerified or TruthFinder, to verify the credibility of the profile.

Do a reverse-image search of the profile picture to see if it’s a stock photo or an image that was plucked off the internet. You can also ask the contact to share a current photo of themselves.

If your research confirms your suspicions, stop all communication with the scammer immediately. Block the scammer’s number and flag their emails as spam. If you’ve already paid a romance scammer with a prepaid gift card, call the company that issued the card to ask them to refund your money.

Report the scam to the FTC. It’s also a good idea to alert the website or app that the scammer is using. You may also consider warning your friends about the scam.

Follow the tips outlined above to keep your love life scam-free.

6 Naughty Holiday Scams to Beware of This Season

‘Tis the season to be jolly! Unfortunately, though, not everything about the holiday season is all happy and nice. As always, scammers are on the scene, ready to turn the joyous season into a nightmare. Here are six naughty-list scams to watch out for this holiday season.

Online shopping scams

In this classic scam, a shopper is lured into a bogus site that appears to belong to a popular retailer and proceeds to purchase an item that does not exist. Alternatively, a too-good-to-miss deal will be heavily promoted through pop-up ads and emails. In either scenario, the shopper will never receive the ordered item and won’t be able to reclaim their lost funds. In some cases, the product will be delivered to their home, but it will be of inferior quality, in poor condition or completely different from the advertised item.

Protect yourself: Only shop reputable websites. Check the URL of each landing page you visit to ensure you are still on a trusted site. Also, if a deal seems too good to be true, it likely is.

Charity scams

Here, a charity targets do-gooders in the weeks leading up to the holidays, asking for donations. Unfortunately, though, the charity is completely bogus, and the money will go right into the hands of scammers. Sometimes, scammers will impersonate a well-known charity and use its name and/or logo to appear authentic.

Protect yourself: If you want to donate money to a specific charity, seek it out yourself instead of following a link or an ad. It’s also a good idea to verify charities on sites like Charity Navigator, GuideStar or CharityWatch.

Gift card scams

Gift cards have always been a popular choice for holiday gifting, but scammers have found ways to exploit them. In a gift card scam, fraudsters convince victims to share their gift card codes by pretending to be tech support or another believable contact.

Protect yourself: Never share sensitive information with an unverified contact.

Porch pirates

In this simple but devastating scam, thieves stake out private residences and snatch up delivered packages from porches soon after they arrive. Scammers may even follow UPS and Amazon trucks so they can pilfer more easily. They’ll wear hats, hoodies or masks to avoid detection via security camera, and once they make off with the goods, there’s virtually no way to recover the packages.

Protect yourself: Track your ordered packages, and once notified that an item has been delivered, bring it inside immediately. If you aren’t home when an item’s been delivered, ask a neighbor to take it in for you.

Travel scams

Traveling during the holidays can get expensive, and scammers know this. In holiday travel scams, they’ll offer vacation packages, or what looks like a dream vacation rental at rock-bottom prices. Then, they’ll disappear once the victim has paid. Alternatively, the victim will arrive at their vacation to find it is quite different than the way it was promised.

Protect yourself: Don’t believe travel deals that are far too cheap for what they are offering. Research any travel agency you are using and be wary of sites and/or ads containing poor grammar and/or lots of spelling mistakes. Finally, be sure to read reviews on vacation rentals before booking and to do a reverse image search on the rental to see if it’s an authentic pic or a stock photo.

Romance scams

The holiday season can be lonely for some people, and romance scams tend to pick up this time of year. In this scam, a love interest will build a relationship with an unsuspecting target, and then ask the victim for funds to help them out of a financial tight spot.

Protect yourself: Be wary of anyone who wants to build a relationship very quickly. It’s also a good idea to do a reverse image search on any photos a new love interest has shared with you to determine if it’s authentic. As always, never wire money to an unverified contact.

Don’t let scammers be your Grinch this Christmas. Watch out for these and similar scams, and use the tips outlined here to stay safe!

Don’t Get Caught in a Utility Scam!

Knock, knock! It’s your energy company, here with the bad news that your bill is overdue, so we’re shutting off your electricity unless you pay up right now.

Sounds like a nightmare, right? Well, it’s going to get worse: this is a scam. Pay the visitor at your door, and you’ve just paid a scammer.

It’s happening a lot more lately. So, here’s what you need to know about these scams and how to keep the lights on without falling victim.

How the scam plays out

In a utility scam, a target receives a phone call, email, text message or even an in-person visit from an alleged representative of their gas, water or electric company. This “rep” will claim to be collecting a past due account that’s pending shutoff unless payment is made immediately. They’ll often ask for the payment to be made via wire or through a prepaid gift card. Unfortunately, any money paid will go directly to the scammer, and not to the utility entity they claim to represent.

What to do if you’re targeted

Do not engage with the caller or visitor. If the alleged rep sent you an email or text message, mark it as spam, block the address and do not respond. You can also call the company the scammer claimed to represent to confirm that your account is not pending shut off.

Red flags

Watch out for these red flags which can help you avoid a utility scam:

A demand for immediate payment with no prior warning. Authentic company reps will always give you ample warning, in writing, before enacting a shutoff.
Pressured to act quickly. Scammers want you to act now and think later.
The “representative” cannot provide details about your account or a means to verify their identity.
They request a specific form of payment. Prepaid card requests are almost always a huge red flag in any scenario.

Stay safe

To avoid utility and similar scams, follow these precautionary measures:

Never wire money or send a prepaid gift card to an unverified contact.
Keep the security on your devices at its strongest and updated settings.
Update your spam list often.
Never share your personally identifiable information with an unverified contact.

Utility scams pose a real threat to your financial security. Follow these tips to stay safe!

Beware of Mobile App Scams

In today’s digital world there’s an app for practically everything; the weather, mobile banking, socializing, games, entertainment… the list goes on. There are millions of downloadable apps for your phone and electronic devices. With all these convenient apps, there’s more ways for fraudsters to take advantage of innocent mobile app users. Unfortunately, mobile app fraud can come in numerous forms and is not always easy to identify. Here’s some things to look out for:

Fake apps: These apps are made to look like the real apps that the user is intending to download. Also called Malware apps, these apps make it hard to know whether you are downloading a real one or not. Here’s how to spot a fake mobile app:
- Reviews/Downloads. If the app has few downloads and short/vague reviews, chances are it’s a scam. A reputable app will have lots of downloads and descriptive reviews.
- Research. Look into the app developer. See what other apps their company has created and if they’re reputable.
- Details. Make sure the images look professional, no misspellings, different fonts, or anything else that may seem off. A true app developer will also have a description and instructions/features of the app.
- Signs you may have downloaded a fake app; strange messages, battery drainage, random pop-ups, and spikes in data usage

Vishing (Voice Phishing): Voice Phishing is when a scammer calls or leaves voice messages pretending to be from a reputable company or agency. They will attempt to illicit an action such as downloading a malicious application or request personal information such as a credit card number to defraud that person or company. Vishing makes the user believe they are talking to someone or a company they trust. Often Vishing will be done in conjunction with caller ID Spoofing. If you are being asked to download an application or for credit card information from an inbound call, it is best to verify the caller. Validate the phone number by performing a call back to that number. It’s also best to call the number on the back of your bank card if you’ve received a voicemail from a number you don’t know. Be cautious of anyone that wants sensitive information.

Remote Access Scams: This last scam tends to use both fake apps and vishing/phishing to mislead the victims. Remote access scams are when scammers impersonate trusted workers such as tech support, banks, government agencies, etc. This is typically done by vishing or phishing; they call the victim or send them a text and/or email of an urgent issue that needs to be resolved right away. Fraudsters will then trick victims into giving them control of their device by downloading an app, remote desktop software, or built-in tools. Once these fraudsters have remote access, they can access sensitive information such as passwords and financial information. With all that information they can commit identify theft, hold your information hostage, and/or sell your information on the dark web. Here’s how to protect yourself:
- Only download apps from trusted sources, never click a link from an unknown sender
- Before downloading an app check its reviews and ratings
- Research all apps before downloading
- Regularly update your operating system and app versions
- Be cautious when answering unknown numbers, hang up right away if they’re asking about sensitive information
- Never give remote access to someone you don’t know

Sports Gambling App Scams

With football season back in full swing, so are sports betting scams. It’s Sunday, you place a bet, and you win. But as soon as you try and cash out it says declined, you try again. It keeps saying declined. You contact someone about this issue, they say that they need more information and/or identity verification. No matter how much information you give them, you never get your money. Not only do these fraudsters now have your money, but they also have any personal information that you shared with them.

Avoiding Sports Gambling Scams:

Delays in getting paid. One of the most common tricks used is the slow payout scam. Fraudsters delay payment in the hope that the user reverses the request for payout. A scammer will typically request more identity verification before a “payout” is made to slow the payment process, when really, they aren’t going to pay you at all.

Look for verified apps. It’s important to look for sports books that have been approved by your area’s gaming commission. Do not enter any personal information/payment information on apps that can’t be verified. And only download apps from the app store, not through links or pop-up ads. Bookmark websites you know are safe, so you don’t click on a website made to look real.

Phishing and identity fraud. Phishing redirects a user to a fake website and will then collect personal information, such as passwords and security info. These links are made to look like the real deal but beware! Look at the URL, make sure it’s taking you to a trusted site, never open a link from an unknown email, number, or pop-up ad.

Read the fine print. Gambling sites/apps typically offer incentives or bonuses for new users. But they could be misleading, often they’re too good to be true. Be sure to read the fine print carefully. “Risk-free” doesn’t usually mean there’s no risk, typically money lost will turn into a credit that you can use only to place other bets. Even legitimate sports betting apps have the right to freeze your winnings if they suspect there’s an unfair advantage or irregular playing pattern. Be sure to take the time to read the important details.

Stay on the lookout for phishing scams, only place bets on verified sports betting apps, and don’t believe the too good to be true bonuses (they really are too good to be true).

https://www.scams.info/blog/player-protection/sports-betting-scams/

https://www.bbb.org/article/scams/26620-bbb-scam-alert-betting-on-a-big-game-dont-fall-for-a-sports-betting-scam

https://lifehacker.com/how-to-spot-a-shady-online-sports-betting-site-1848525467

AI Fraud and How to Protect Yourself

Artificial intelligence (AI) is revolutionizing the way we live and work. Unfortunately, though, it’s also revolutionizing the way scammers play their games. Here’s what you need to know about AI fraud and how to protect yourself.

What is AI fraud?

AI fraud is the use of artificial intelligence to deceive or defraud individuals or organizations. Fraudsters and/or Scammers have begun using AI backed software to assist in scams that utilize vast amounts of knowledge and techniques to assist with fraudulent practices. Some of the fraudsters through the use of AI have been able to create convincing fake identities, manipulate social media, generate realistic fake images and videos (AKA “deepfakes”) and more.

The scammers then create fake social media profiles and email addresses using these bogus identities and footage. Often, they’ll pretend to represent celebrities for soliciting money and information. Similarly, they may create fake websites or emails that appear to be from legitimate sources, such as financial institutions or government agencies, and ask people to provide their personal information or login credentials.

AI fraud comes in several forms, including:

Phishing
ID theft
Deepfakes
Fake news
Social engineering
Chatbot scams

Red flags

Are you being targeted by AI fraud? Look out for these red flags:

Multiple unsolicited emails and/or text messages
Asked to provide personal info or login credentials by an unverified contact
Unusual activity on your social media accounts
Requests for money or gift cards

If you notice any of these signs, it’s important to investigate. If the contact claims to represent a government agency or financial institution, do not engage. Reach out to the agency that supposedly contacted you to see if the communication is legit.

Protect yourself

Never share sensitive info with an unverified contact.
Check the URL of each landing page when banking online or using another platform to share sensitive information.
Use strong, unique passwords across all of your accounts.
Keep your device’s security on its strongest setting.
Use updated antivirus software.

If you’ve been targeted

If you suspect you’ve been the victim of AI fraud, act quickly to mitigate damage. First, contact High Point FCU at 800-854-6052 to let us know your information has been compromised. Similarly, reach out to your credit card companies to let them know about the fraud. Next, report the fraud to the FTC so they can take appropriate measures in catching the humans behind the bot-generated scam. You’ll also want to change your passwords and consider a credit freeze. Finally, if your identity has been stolen, reach out to identitytheft.gov to learn your next steps.

All You Need to Know About Cybersecurity

Cybercrimes are increasing massively each year. In fact, according to Cybercrime Magazine, cybercrime will cost the world $10.5 trillion annually by 2025.

The best way to protect yourself from falling prey to cybercrimes is by being aware of common tactics and keeping your systems and devices secure. In honor of Cybersecurity Month, let’s take a closer look at this essential toolset and how to best harness it for your protection.

What is cybersecurity?

Cybersecurity is the protection of online devices, networks, data and electronic systems from attacks by hackers, scammers and cybercriminals.

There are several major categories of cybersecurity:

Network security is the securing of a computer network from intruders who commit crimes by targeted attack or malware.
Application security focuses on protecting software and devices from threats.
Information security protects the integrity and privacy of data.
Operational security includes handling and protecting data assets.
Cloud security refers to creating secure cloud applications for companies that use cloud service providers, like Google, AWS, etc.
Identity management and data security protects processes that enable authorization and authentication of legitimate individuals to an organization’s systems.
Mobile security protects data stored on mobile devices from threats.

Methods of cybercrimes

All forms of cybercrimes threaten cybersecurity in some way. Here are some of the methods used to wage attacks:

Malware-includes ransomware, spyware and viruses. These can install harmful software, block access to systems or provide scammers with access to data.
Trojans-trick users into thinking they’re opening a harmless file, but they’re really installing a backdoor that provides access to cybercriminals.
Botnets-conducted via remotely controlled malware-infected devices and usually employed as a large-scale attack.
Adware-involves a potentially unwanted program installed without the user’s permission, which automatically generates unwanted online advertisements.
Phishing-employed by email, text, or social media message, it tricks the target into sharing sensitive information.

How can I protect myself against cyberattacks?

Fortunately, there are many ways to protect yourself from cyberattacks:

Use banking activity alerts.
Update your software and operating systems often.
Use anti-virus software.
Use strong, unique passwords across all your online accounts.
Never open email attachments or click on links from unknown senders.
Avoid using unsecured public WiFi.

Through awareness and use of cybersecurity tools, you can keep your devices and personal information secure.

Stay up to date on current scams and learn how to report fraud by visiting https://consumer.ftc.gov/.

What is a Fraud Ring and How Can I Keep Myself Safe?

Q: I’m hearing a lot about fraud rings and their threat to businesses and consumers. What is a fraud ring and how can I keep myself safe?

A: A fraud ring is a group of fraudsters and merchants that can operate for years while stealing money and information, causing tremendous damage and loss along the way.

Let’s take a look at fraud rings, how they operate and how consumers and merchants can keep safe.

What is a fraud ring?

A fraud ring is an organized circle of criminals working to defraud and steal from people. They’ll use the same tactics as smaller scammer groups and individuals, but work on a massive scale. They also tend to have access to way more technology and resources than a typical scammer. Because of this, the harm they can do is on a much larger scale, too.

This form of fraud can consist of a group of criminals, as in any organized crime ring, or it can be made up of a family of crooks working together. The members of this crime ring collaborate to share info that can help them commit acts of fraud to net vast amounts of stolen funds and merchandise.

How does a fraud ring operate?

They can operate under several different pretexts. One common premise involves forgery, in which the fraudsters create fake claims, steal identities and even print counterfeit checks and/or currency. Some rings target individuals, committing identity theft and the like, but many focus on targeting ecommerce websites, businesses, charities or government agencies.

A fraud ring can commit any of the following scams:

Forgery
False claims
Identity theft
Identity manipulation
Counterfeit checks and/or currency

How can I recognize this type of fraud?

Look for these red flags, which can indicate signs of fraud:

Large purchases on your credit card or checking account that you didn’t make
Bills for loans you haven’t taken out
An unexplained, big drop in your credit score

If you own a business, you may be at higher risk of falling victim to a fraud ring. Be sure to look out for several sudden and large purchases from a customer who hasn’t made a purchase in a while, new accounts from customers that quickly become big spenders and claims demanding refunds for faulty products you believe were fine when shipped.

Detecting instances of fraud at the first sign of suspicion can help mitigate the damage and keep your money and your information safe. Be sure to configure and add e-alerts on your bank accounts.

Stay up to date on prevalent scams and common types of fraud by visiting Olean Area FCU’s Security Corner.

5 Steps to Take After a Data Breach

Data breaches are becoming more and more frequent. According to Risk Based Security’s Mid-Year Data Breach Report, there were 1,767 publicly reported breaches in the first half of 2021, exposing 18.8 billion records. If your personal information has been compromised by a data breach, take these five steps to mitigate the damage.

Step 1: Read all notices from the compromised company

The business that’s been breached will generally reach out to all potential victims to notify them of the exposure. it may also advise them about next steps. If you believe your information may have been compromised in a breach, read every message you receive from the exposed company.

Step 2: Alert your financial institution

Next, let Olean Area Federal Credit Union know if your account may have been compromised. We will review it for potential signs of fraud. Watch your accounts closely, sign up for our E-Alerts that will text or email you regarding balance changes that you set up. Stay vigilant as you may not see anything right away, many times these hackers wait 6 months to a year before trying anything.

Step 3: Change your passwords

A data breach generally means passwords of all kinds may have been compromised. It’s best to change as many as possible after a breach to keep information and money safe. Start by changing passwords you are sure were a part of the breach.

Take these precautions to protect your information from future data breaches:

Use strong, unique passwords for each account and opt for two-factor authentication when possible.
Never share sensitive information online and review your security and spam settings ensuring they are at their strongest levels.

Step 4: Consider a credit freeze

A credit freeze will alert lenders and credit companies to the fact that you may have been a victim of fraud. This added layer of protection will make it difficult, or impossible, for hackers to open a new credit line or loan in your name.

Step 5: File an identity theft report

If you believe your identity has been stolen, file an identity theft report with the Federal Trade Commission (FTC) as soon as possible.

Monitor your credit for suspicious activity on a regular basis.

Don’t Get Spooked by One of these Halloween Scams!

That cackling witch might send your heart fluttering, but Halloween scams are even spookier! Here’s what to know about them:

1. The Joker

Scammers target people with messages promising loads of money for little effort. Just send a bit of money to a digital address using a money transfer app, and your money will double, triple or more. Unfortunately, the joke’s on you.

Spot a money-flipping scam through the amateur writing and the promises of unreal rewards. Also, you know what they say about anything that sounds too good to be true … it probably is.

2. Night of the Living Dead

In the deceased identity theft scam, scammers steal the identity of someone who is no longer living. They may empty the decedent’s accounts, use their credit history as their own, and use their Social Security number.

Protect a late loved one’s identity by locking their social media accounts, credit report, and Social Security number. Keep an eye on their accounts until their assets have been lawfully divided.

3. Trick or Treat

You found the perfect costume online – and for a bargain price! You complete your order and wait for the package to arrive. And wait … and then you realize you’ve been tricked.

In a variation of the online order scam, the package arrives but looks nothing like it did online. You try to find a customer service representative, but they’ve apparently vanished!

Don’t get tricked! Only order from reputable sites that display complete contact information for the company. Ignore offers that scream “Hot Deal! Act Now!” Shop with caution so you’ll only walk away with treats.

4. Hitman

There’s a hitman at your door – and no, this is no disguise!

In the hitman scam, scammers pretend to be assassins hired to take out a target. They’ll send extortion emails and messages, promising to spare the target’s life for just a few thousand dollars. Yikes!

Don’t get scammed! If you receive an extortion message, contact local law enforcement. Never share money with an unverified contact. Keep your money and your life safe.

Have a happy and safe Halloween!

Beware Cryptocurrency Scams

Cryptocurrency is one of the hottest investments on the market. It’s also a popular ruse topic for scammers. Here’s what you need to know about cryptocurrency scams.

How the scams play out

There are several ways scammers are using cryptocurrency to con people out of their money.

Blackmail. Emails are sent to targets, falsely claiming to have compromising photos, videos, or embarrassing info about them. The contact threatens to go public unless the victim pays up — in cryptocurrency.
Social media. A target receives a social media message appearing to be from a friend, asking for cryptocurrency to help them out of a bind.
Giveaways. These “giveaways” claim to be sponsored by celebrities or big-name cryptocurrency investors. They promise exponential returns for small investments in crypto, or for simply sharing personal info.
Unrealistic Investment Opportunities. Some scammers make offers to invest in a nonexistent crypto mining operation. This is just a way for them to take your money!
Romance. Scammers convince victims they have met a legitimate love interest who soon starts talking about fabulous cryptocurrency opportunities with incredible returns. The victim acts upon this advice, and, sadly, loses their money.

In each of these scams, the victim has no way of recovering the cryptocurrency they shared once an “investment” has been made.

How to spot a cryptocurrency scam

Look out for these red flags to help avoid cryptocurrency scams:

You’re promised big payouts with guaranteed returns on a small investment in cryptocurrency.
A celebrity or famed cryptocurrency investor is sponsoring a cryptocurrency giveaway.
A friend contacts you on social media, claiming they’re caught up in a bind and need quick help by cryptocurrency.
You’re promised free money in cryptocurrency in exchange for sharing some personal information.
A caller, new love interest, or organization insists on payment by cryptocurrency.

Never share personal information or money with an unverified contact. Also, if you’re looking to invest in cryptocurrency, look up secure investment sites like Robinhood and Coinbase on your own.

If you’ve been targeted

If you believe you’ve been targeted by a cryptocurrency scam, report it to the FTC. If the scam was pulled off on social media, also let the platform know so they can take appropriate action.

Proceed with caution to keep your money and your information safe.

Beware of Gift Card Scams

Everyone loves gift cards. Unfortunately, scammers also love them, and for all the wrong reasons. Here’s what you need to know about gift card scams.

How the scams play out

There are several types of gift card scams:

The IRS gift card scam. A threatening message that’s allegedly from the IRS claims you’re at risk of arrest for tax evasion unless you pay up pronto! Payment must be made by a gift card. It’s often specifically requested to be an iTunes gift card, because, as you know, the IRS always collects taxes in the form of digital music.
The sweepstakes gift card scam. You’ve won a trip to the Cayman Islands! Just pay the processing fee by gift card. You’ll never see that majestic sunset, but your money’s ridden off.
The utility gift card scam. If you don’t pay up with a gift card, the lights just might go out. They won’t, but if you fall for the scam, you’ll be out the money you put on the gift card.
The balance-check gift card scam. You purchase a discounted gift card online and the seller sends the card but then asks you to read the numbers over the phone to confirm the balance. If you comply, the seller now has all the information they need to drain the card.

How to spot a gift card scam

This information can help you recognize a gift card scam:

The IRS will never initiate correspondence by phone call, text message, or email.
No authentic business or agency will insist on payment by gift card.
If you don’t recall entering a sweepstakes, you probably didn’t win it either.
A caller or message claiming a matter is urgent is almost always a scam.

In general, gift cards should not be used as payments and the numbers on your gift card should never be shared over the phone or online. Also, it’s best to purchase gift cards through reputable sellers only.

Steps to take if you’ve fallen victim

First, notify the company that issued the card about the scam. Next, block the scammer’s number from your phone and mark their emails as spam. Finally, alert the FTC about the scam.

Stay safe!

Beware Lottery Scams!

Lottery scams are frequent go-to’s for scammers, and they cash in on numerous victims. Let’s take a look at lottery scams and how to avoid falling victim.

How the scams play out

In a typical lottery scam, the victim is notified they’ve won a lottery. They may be contacted by mail, phone, text or by social media. The allegedly won prize can be a pile of cash to the tune of millions, a tropical vacation or even expensive electronic devices.

Here’s where things get tricky. To claim the prize, the victim is told they must pay a “processing fee,” but the money can only be wired to a bank account or furnished via prepaid debit card. If the victim pays the fee, the scammer will continue collecting these fees and stalling over the delivery of the prize.

In other variations of the scam, the target is asked to call a phone number or click on a link to claim the prize. They’ll then be instructed to provide personal information, such as their Social Security number or checking account info. Unfortunately, this information will make the victim vulnerable to identity theft.

Red flags

To avoid falling prey to a lottery scam, look out for these red flags:

You’ve been notified you’ve won a lottery you’ve never entered.
The lottery you’ve allegedly won was drawn overseas.
The email, text message or social media alert informing you of your win is riddled with grammar mistakes and typos.
You are warned to keep your “win” confidential.
You’re asked to pay a fee to collect your winnings.
You’re asked to share confidential information over the phone or online to claim your prize.
You’re instructed to call a specific number or click on a link in order to verify your prize.

If you’ve been targeted

If you believe you’ve been targeted and/or victimized by a lottery scam, take quick action to protect yourself from further harm. Contact the Federal Trade Commission at FTC.gov to let them know about it. If you’ve already shared information and/or money, contact your local law enforcement agencies for assistance and visit the FTC’s page on identity theft to start the recovery process.

Play it safe!

Your Complete Guide to Secure Mobile Banking

In response to a rise of mobile banking scams, the Consumer Financial Protection Bureau (CFPB) has published new guidance on unauthorized electronic funds transfers, or EFTs. With more people using electronic banking as a holdover from pandemic times, it’s important for consumers to be aware of its vulnerabilities and how to protect themselves from scams. Here’s your guide to secure mobile banking and how to stay safe online.

What are the risks of mobile banking?

Unfortunately, like all transactions happening over the internet, mobile banking has some built-in risks. First, hackers can break into a phone and an account with the intent of stealing money and info. Also, phishing scams that target people over the phone can lead unsuspecting consumers to share login information with scammers so they can hack away. Finally, bogus emails and messages appearing to be from your credit union can lead you to install malware on your device.

How to bank safely online

Consider using a VPN. A VPN (virtual private network) gives you a private network, even when you’re using public Wi-Fi, thus increasing your internet usage security by encrypting traffic to the VPN service provider and allowing internet traffic through a chosen trusted source.
Never share your password. Don’t share your password with anyone, and follow suggested guidelines for choosing a strong password, including alternating between uppercase letters, lowercase letters, numbers, symbols, and increased length beyond minimum requirements. Also, choose a unique password you don’t use elsewhere. Change your password if your password is exposed or becomes known by someone other than yourself.
Brush up on your knowledge of scams. Never answer a text or email that asks for account details, even if it appears to be from your credit union. Also, always be wary of unsolicited phone calls and banking alerts. Follow Olean Area Federal Credit Union on our social media pages and blog page for information on current scams. Also visit ftc.gov for the latest Consumer Alerts and up-to-date security protocols.
Protect your phone. Consider installing an antivirus app on your phone as well as a location-tracking app so you can find your phone if it gets lost. Be sure to lock your phone after using it, log out of the mobile banking app when you’re done, and always keep your phone in a safe place.

Follow the tips outlined above for secure mobile banking and stay safe!

Remembering that technology is constantly changing and improvements to security are always occurring within mobile banking applications, stay on top of industry trends and current security availabilities.

Beware Back to School Scams

Whether you’re a college student prepping for the fall semester, a high school student getting ready for a new school year or the parent of a student of any age, beware of these trending back-to-school scams!

The student tax scam

In this scam, a crook posing as the IRS calls a college-bound student claiming they didn’t pay the student tax. If it is not paid up and pronto, the “agent” says, the student will not be allowed to attend school. They may even threaten imprisonment.

Don’t get scammed! First, know that the “student tax” doesn’t exist. Second, the IRS will never initiate contact with a taxpayer through a phone call. Finally, the IRS will never demand payment through a prepaid debit card or wire transfer, which is a common scammer ploy.

Scholarship scams

The scholarship scam cons students and parents into paying money for government student loans or financial aid, or by promising a scholarship in exchange for a fee. Follow these rules to stay safe:

Never pay to apply for a government student loan or financial aid.
There’s no way to guarantee a scholarship or grant. If a company promises to get you approved for either one, it’s a scam.
There is generally no fee necessary to receive a scholarship.

School supply giveaways and freebies

Back-to-school shopping can cost a bundle. Messages promising a free back-to-school shopping spree can be welcomed if they’re legit. Unfortunately, they rarely are.

Back-to-school giveaway scams ask the victim to visit a website to provide their email address for claiming their prize. The victim is then rewarded with an endless stream of emails, texts, robocalls and more from the company that now has their information, with no giveaway in sight. In some cases, the scammer may demand a “processing fee” before the victim can claim their prize.

Protecting yourself from a giveaway scam is easy by remembering that, if it sounds too good to be true, it probably is. Also, legitimate contests will rarely select a winner out of thin air; you’ll have to enter it first by providing your email address. They are also not likely to make you give up lots of info before claiming your prize. Finally, there is generally no payment necessary for claiming an authentic prize.

Follow the tips outlined above for this back to school season and stay safe!

6 Ways to Avoid Getting Scammed This Summer

Don’t get scammed this summer! Follow these tips to stay safe.

1. Never pay for a “prize” vacation

If you’re asked to pay a small fee to claim a free vacation prize, you’re looking at a scam. A legitimate company will never ask winners to do that.

2. Use a credit card when traveling

A credit card offers you the most protection in case something goes wrong. You’ll be able to dispute unauthorized charges, and in most cases, reclaim your lost funds

3. Ignore celebrity messages

A direct text from a movie star, singer or athlete asking for money for a charity or claiming you’ve won a prize, but need to pay a processing fee, is a scam.

4. Check for skimmers at the pump

If you’ll be pumping gas in unfamiliar places, check the card reader for skimmers, which can relay your credit or debit card information to a scammer.

To check for a skimmer, try wiggling the card reader; this should dislodge a skimmer if there is one. Next, check to see if the keypad looks newer than the rest of the card reader. Finally, touch the surface of the keypad to see if it’s raised.

5. Research vacation rentals carefully

Before booking a vacation rental, read the reviews of previous guests. If there aren’t any, or they don’t sound authentic, you’re likely looking at a scam. You can also look up the address of the rental to see if it actually exists and if the location matches the description in the listing. Finally, as mentioned above, use a credit card to pay for the stay so you can dispute the charges if it ends up being a scam.

6. Vet potential contractors well

It’s best to only hire contractors you’ve personally reached out to instead of hiring one that comes knocking on your door. Also, before hiring, research a potential contractor carefully, asking for contact info of previous clients, checking out their online presence, and looking up the business on the BBB website. Finally, don’t agree to pay more than a third of the total cost of a job before the work starts.

Stay safe!

Beware Child Tax Credit Scams

Money’s on the way to millions of households, and that means scammers are not far behind! The Child Tax Credit (CTC) taking effect in July will provide monthly payments of up to $300 per child for approximately 40 million households. The payments will provide struggling families with desperately needed funds unless the scammers get to the money first.

Here’s what you need to know about CTC scams and how to avoid them.

How the scams play out

In one variation of the scam, victims receive phone calls, emails, or social media messages appearing to be from the IRS and asking them to authenticate their personal details or share sensitive information to get their CTC funds. Instead of pretending to be the IRS, the scammer may claim to be offering to “help” the victim get their funds. In either scenario, if the victim follows the instructions, they’ll be playing right into the hands of scammers.

In another variation of the scam, victims land on a spoofed government website and are invited to input their personal information. Unfortunately, this can open the door for scammers to pull off identity theft and more.

What you need to know about the Child Tax Credit and the IRS

The IRS does not make unsolicited calls or emails. All official communications from the IRS are sent via standard USPS mail.
You do not need to take any action or share any personal info to receive the Child Tax Credit.
Only the IRS will be issuing the Child Tax Credits. Anyone else claiming to “help” you receive the payments is a scammer.

If you’ve been targeted

If you believe you’ve been targeted by a CTC scam, follow the cardinal rule of personal safety: Never share sensitive data with an unverified source. Triple-check the URL on any IRS webpage you visit, as these are easily spoofed. Finally, report all suspicious activity to the IRS and the FTC.

For additional information on the upcoming Child Tax Credits, to check if you qualify, or to update your dependent or banking information, visit the IRS’s CTC webpage directly at IRS.gov

Stay safe!