Don’t Fall for Auto Warranty Scams

Auto warranty scams can lead to financial pain, or even disaster, for an unwary consumer. Here’s what to know about these scams and how to stay safe.

How the scams play out

In an auto warranty scam, a scammer reaches out to a target supposedly selling or offering to extend an existing warranty on their car. The scammer claims to represent the automaker or policy company and may know the exact model and make of the car. Unfortunately, though, if the driver buys or extends a warranty on their car through this call, they’ll be giving their money and information to a scammer.

Red flags

Watch for these red flags:

Robocall. When the pitch to buy a new auto warranty, or to extend an existing one, starts with an automatic message, you’re dealing with a scam.
Extend now! Pressured to buy an extended warranty for your vehicle? Probably a scammer.
How about some ad-bombing? If you keep running into the same ad on every site and social media platform, it’s quite possibly a scam.

Plus shipping and handling. If the alleged representative selling the extended auto warranty starts asking you to pay any processing fee, or even a down payment, before providing real details, hang up and block the number.
Restricted callers only. If your Caller ID is showing “private number” or “restricted,” you are likely being called by a scammer.

Protect yourself

First, never share personal information with an unverified contact while on any platform. Next, if you’d like to purchase a new policy or extend the one you have, reach out directly to an auto warranty company. Finally, if you are constantly getting ad-bombed and robocalled for illegitimate offers, mark the email as spam/or and block the number.

If you’ve been targeted

Take quick steps to mitigate the damage. Do not engage with the scammer, and report it to the Federal Trade Commission. Lastly, close any accounts that may have been compromised and consider a credit freeze, if warranted.

Stay safe!

What is the Dark Web?

Q: What is the dark web?

A: The dark web is the deepest layer of the internet that isn’t visible to the average browser. Unfortunately, the it is full of illegal activities and crimes. Let’s take a closer look at the dark web and how you can protect your information from being snared.

What is the dark web?

The internet has been compared to an iceberg, with very little being visible above the surface, but it’s an enormous, dark and deep chasm underneath.

There are three basic parts of the internet:

The surface web – all websites and landing pages that can easily be accessed through popular search engines and direct address entry using a web browser.

The deep web – this includes private, but not invisible accounts, like social media pages, membership websites, medical records and more. All content on the deep web is safeguarded by a paywall or sign-in credentials.
The dark web – can only be accessed by using special browsing software called Tor. Tor masks IP addresses and makes all visitors anonymous.

Not all activity happening on the dark web is illegal. The deepest part of the internet also provides a platform for communication and commerce for people living in countries that have heavy censorship of online activity.

Unfortunately, though, the dark web remains a hotbed of criminal activity. Loads of illegal trade takes place through the dark web, including drugs, firearms, counterfeit money, subscription credentials and personal information of thousands of targets. The inherent anonymity allows hackers and scammers to roam free without fear of being caught.

How can I protect myself?

Enable two-step authentication on all online accounts.
Regularly monitor your credit for fraudulent activity.
Use strong, unique passwords for your accounts.
Never share personal info with an unverified source.

The dark web is impossible to trace, but there are ways to protect your information. Use the tips outlined here to stay safe.

Don’t Get Caught in a College Degree Scam!

College degree scams can be tough to spot. Unfortunately, getting duped by one can mean losing out on lots of time and money. Here’s what to know about college scams.

What’s a college degree scam?

A college degree scam can look like a diploma mill, in which an alleged school promises a super-quick degree for almost zero work (the ultimate blowoff class, right?). Just pay a fee, fill out forms and the degree is yours. Too bad the degree is bogus, and no graduate school or reputable employer will honor it.

In another variation, an accreditation mill provides higher education accreditation than a diploma mill for a similar amount of minimal effort. Unfortunately, the accreditation is illegitimate, as the “school” is not recognized by the U.S. Department of Education (USDE) or the Council on Higher Education Accreditation (CHEA).

Red flags

When researching college choices online, look for these red flags of college degree scams:

The school promises a degree in a ridiculously short timeframe.
There’s no physical address for the school.
Tuition is billed as a flat rate per degree.
The website doesn’t end in .edu.
The college isn’t on the list of schools approved by the USDE or the CHEA.

How can I verify if my degree program is legit?

Here’s how to check if your own college is legit:

Look up your school on the USDE and the CHEA lists of accredited schools.
Look for a physical address associated with the school.
Check the school’s website to see if it ends in .edu or is very similar to another, well-known college.
Ask the registrar of a local community college if they’d accept transfer credits from the institution.

If you’ve been targeted

If you believe you’ve gotten caught in a college scam, report the scam to the FTC. Leave the program and mark any emails from them as spam. If you’ve shared personal or financial information with the scammers, you may need to take extra steps to prevent further charges. Finally, let your friends know about it so they can be alert.

Stay alert and stay safe!

Beware Malware Scams

Malware scams are malicious and exploit the known prevalence of scams. Hackers tap into people’s fears by tricking innocent victims into losing their information and their money. Here’s what you need to know about malware scams and how to avoid them.

How these scams play out

Malware scams, also known as tech support scams, begin with a phone call, pop-up message, or email. A scammer reaches out to an individual and informs them that their computer has been hacked. The caller claims the alleged hacker gained access to the victim’s device and can do all kinds of damage. However, the caller, posing as tech support, says they can help remove any malware that’s supposedly installed. The bogus rep gives the victim instructions for removing the malware, possibly even giving the caller access to their device. Unfortunately, though, if the victim follows these directions, they’ll actually be installing malware on their computer.

Red flags

Avoid malware scams by looking out for these signs:

An alleged rep of a tech company has called you without you reaching out first.
The “tech support rep” asks you to provide them with remote access to your device.
The caller urges you to act immediately or risk causing further damage.
The caller asks you to enter your credit card information to pay them for their service. Alternatively, they’ll ask to be paid via prepaid gift card.

If you’ve been targeted

If you’ve been targeted by a malware scam, don’t engage with the caller. Hang up and block the number. Next, close your device. If you believe you’ve already given the scammer access, consult a real tech support expert to remove any malware that may have been installed. In addition, consider placing a credit freeze on your name. Finally, alert the FTC.

Signs your device has been infected

Here’s some ways to tell if your computer’s been infected:

It’s slowed down a lot.
You’re blasted with tons of pop-up ads.
Your system abruptly crashes.
You’re suddenly low on disk space.

If you notice any of these signs, take it to a tech support expert and follow the steps outlined above.

Stay safe!

Don’t Get Caught in a Shopping Scam!

When shopping moved online, it created a wave of new scams. Many of them can be difficult to spot and offer no way for the victim to reclaim lost funds. Here’s how to recognize an online shopping scam.

How these scams play out

There are several variations to the online shopping scam.

In one version, a shopper decides to purchase an item online and completes the transaction. Unfortunately, the item will never show up. If it does, it’s a cheap knockoff of the product, instead of the item that was purchased.

In another variation, a shopper finds an item online and tries to make a purchase. They’ll be asked for sensitive info, such as their checking account number. The shopper will be unable to complete the transaction and will run into repeated site errors. Unfortunately, the scammers now have their information and can empty their accounts, or worse.

In a third version, a seller clicks on an ad, or on a site that came up in a Google search for one of their favorite stores. They’ll proceed to make an order, not knowing they’ve clicked into a scammer’s fake site. The rest of the scam will follow one of the scenarios described above.

Red flags

Watch out for these warning signs that you may have stumbled upon a shopping scam:

Prices are too good to be true.
The offer urges you to act now.
The seller demands a specific means of payment.
The website is full of typos.

Stay safe

Follow these tips to keep yourself safe from online shopping scams:

Only shop on safe, secure sites.
Check the URL for proper spelling of reputable sites to ensure you haven’t landed on a look-a-like site.
Avoid clicking on high-pressure pop-up ads.
Pay with a credit card when shopping online.
Never share personal information with an unverified contact.

If you’re targeted

If you’ve fallen victim to an online shopping scam, take these steps to fix the damage:

Call the company to dispute the charge if you paid by credit card. At this point, you may want to place a credit alert on your name. Next, alert the FTC . Finally, let your friends know about the scam.

Stay safe!

Don’t Get Caught in a Grandparent Scam

Grandparent scams have gotten super sneaky in recent years, which makes them difficult to spot. Here’s what to know about grandparent scams and how to avoid them.

How the scams play out

There are several variations of the grandparent scam. In each one, the caller claims to be a grandchild of the target. The scammer often spoofs the grandchild’s number so it shows up on the grandparent’s phone.

The legal trouble scam. In this ruse, a scammer claiming to be their grandchild will call and claim to have been arrested. The “grandchild” asks them to send money for posting bail. They’ll pass the phone to an alleged representative to accept the funds via wire transfer or gift cards. But this is just the scammer’s partner in crime; not a real authority figure.
The medical trouble scam. This version of the grandparent scam involves a “grandchild” calling up Grandma or Grandpa and claiming to be seriously injured. They’ll ask for money to help pay the medical bills.
The international trouble scam. In this scam, a “grandchild” calls and claims they’re in deep trouble in a foreign country. They’ll ask for a big chunk of money to be sent by wire transfer or prepaid debit card for them to get out safely.

If you’re targeted

If you believe you’re being targeted by a grandparent scam or a similar ruse, follow these steps to keep yourself safe:

Don’t take immediate action. Pause and think it through before blindly sending money.
Ask the caller to answer a personal question only your grandchild will know.
Check your grandchild’s whereabouts by hanging up and calling your grandchild directly. Chances are, your grandchild is just fine.
Hang up and report the crime to your local police department and the FTC.

Safety rules to know

It’s a good idea to follow these rules for protection from grandparent scams and other ruses:

Never share personal info online or on the phone with an unverified contact.
If you’re asked to pay for something via money transfer or prepaid gift card, it’s probably a scam.
Put your number on the no call list.
Keep your social media privacy settings at their strongest and limit what you share on public forums.

Stay safe!

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.

Beware of Job Scams

It’s an amazing employment opportunity–or is it? Scammers often hijack the job market to ensnare job seekers. Here’s what to know about these scams.

How the scams play out

There are several variations of job scams. Here are the most common:

Bogus job listing. There’s a Help Wanted ad for a dream job. The eager job-seeker applies, sharing their information, and even paying a small fee for an interview or resume submission. Unfortunately, the job doesn’t exist, and they’ll never hear from the “employer” again.

Imposter hiring. An alleged rep from a well-known agency or hiring firm reaches out to a target, asking them to send funds to cover a job screening. While the job may exist, the “representative” is a scammer, and the money the victim shares will go directly into the scammer’s pocket.
Phishing emails. In this scam, a victim is targeted by email. It offers the victim a fantastic job, but asks that they first share confidential info. If the victim complies, they’ll be giving their personal information to a scammer.

How to spot a job scam

Learning to identify the signs of a job scam can help you avoid them. Here are some red flags to watch for when job-hunting:

The emails the “company” sends are highly unprofessional.
There’s no street address for the company.
You’re asked to pay an upfront fee before you’re even hired.
You’re asked to share personal information before an official contract is signed.
When “hired,” you’re underworked and overpaid.

Before applying to or accepting a job offer, do thorough research. Ask for references of past or current employees and check out the company website to see if it’s secure and has real information about the firm, including a street address. Check out the company’s social media accounts, too. Finally, don’t be afraid to ask the employer any questions you may have about the company or job.

Job-hunting can be stressful, but getting caught in a job scam can bring that stress to a whole new level. Stay alert and stay safe by following the tips outlined here.

Don’t Get Caught in a QR Code Scam

Scammers are always dreaming up new ways to con people out of their money. Recently, they’ve figured out a “quick” way by hijacking QR codes. Here’s what to know about QR code scams and how to avoid them.

What’s a QR code?

Before we explore this scam, let’s get the skinny on QR codes. A QR code is a square barcode that can be scanned using a smartphone. It goes directly to a website or app. Businesses use QR codes for many reasons, like posting online menus, scanning coupons, processing payments and more.

How the scam plays out

In a QR code scam, a scammer replaces a legitimate QR code with their own. A target scans the bogus code thinking it’s legit. They make a payment for a transaction and, unfortunately, the target has sent their money right to the scammer. Often, the scam also gives the scammer access to the victim’s phone and information.

How to avoid a QR code scam

When scanning a QR code, practice basic safety measures. Check the URL that the QR code directs you to for common signs of a secure site, including a lock icon and an “s” after the “http”. If the webpage or app seems suspicious, get out. You can access the merchant’s payment portal by visiting their app or website directly. The FBI also advises against downloading an app from a QR code and/or downloading a QR code scanner app.

When using a QR code, look for these red flags:

The URL is different from the home site.
The QR code is posted on a public sign or notice that looks tampered with.
The site or app the code directs you to is full of typos.

If you were scammed

If you’ve used a QR code to pay for a transaction and then received an email from the company claiming you’ve never completed the payment, or that the payment failed, you may be the victim of a QR code scam. Let the real company know its QR code has been tampered with, call your financial institution, and alert the FTC.

Stay alert and stay safe!

Beware of Sport Ticket Scams

Sport ticket scams can make the best game go foul. Here’s what to know about these scams and how to avoid them.

How the scams play out

In a sport ticket scam, a target clicks on an online ad to buy tickets to a live sporting event. They enter their info and choose seats. Next, they’ll input their credit card info, complete the payment, and wait for confirmation. But the wait never ends! Unfortunately, the virtual tickets aren’t coming, and the seller has ghosted the victim. To make matters worse, the scammer now has the personal info and card details for more scamming shenanigans.

In another version of the sport ticket scam, the victim gets an e-ticket after completing the transaction. But this ticket is useless. It is either counterfeit with bogus barcodes and logos or a copy of an actual ticket that has already been sold to other buyers.

The dos and don’ts of purchasing sport tickets:

Do:

Buy the tickets using a credit card rather than a debit card, gift card, or cash.
Check out the seller before agreeing to the purchase.
Buy tickets at the venue box office.
Buy tickets from authorized brokers and third-party sellers after verifying their contact information.
Research the seller by looking for a safe website and a legitimate physical address and phone number.
Do a quick online search for negative reviews about the seller.
If the site requires a login and password, be sure to use a unique password.
Verify that the tickets have the correct date and time before confirming your purchase.

Don’t:

Don’t wire money to pay for tickets.
Don’t pay for a ticket from an unknown reseller before seeing it.
Don’t meet a private ticket seller alone or in a low-traffic area.
Don’t trust online search results for ticket sellers without researching each one well.

If you’ve been scammed

If you believe you’ve been targeted by a sport ticket scam, there are steps to take to mitigate the damage and to help stop the scammers. First, if you’ve paid with a credit card, be sure to dispute the charge, cancel the card and ask to be issued a new one. Next, report the incident to the FTC. Finally, let your family and friends know about your experience to help them avoid becoming a victim.

Stay alert and stay safe!

4 Questions to Ask Yourself About Your Passwords

With potential threats to cyber security today, it’s a good time to revisit your passwords. Even if you think you’re following the latest password guidelines, you could still be at risk of a data breach. Ask yourself these four questions about your passwords and be prepared to make any necessary changes to secure your information.

1. Are any of my accounts using the same password?

If you answered ‘yes,’ then it’s time for a change! If a hacker gets your password for one account, then they’ll have access to your other accounts. It may seem like a hassle, but it’s nothing compared to fighting identity theft or trying to retrieve stolen money!

2. Are my passwords at least 12 characters long?

12 characters may seem like a lot, but the longer the password the stronger it is. Think up a passphrase of random words that you can easily remember – but avoid popular ones. Also make sure to mix up your characters with lowercase and uppercase letters and symbols. If one of your accounts doesn’t allow for long passwords, mix up the characters even more to improve its security.

3. Are my passwords easily accessible?

This may seem like a silly question, but how and where you keep your passwords can determine whether you get hacked. For example, if you save a Word document to your desktop titled “passwords,” you’re assuming that only you have access to your desktop. You’re not considering a potential hacker gaining remote access to your computer, or someone at your work opening the document when you step away for a minute.

4. Does anyone know my passwords?

Yes, we mean anyone! The best way to keep your information secure is to keep your passwords private. Obviously, your partner or child isn’t going to intentionally misuse one of your passwords, but if they’re not careful it could end up in the wrong hands.

Stay up to date on password guidelines and other security tips by signing up for FTC Consumer Alerts at consumer.ftc.gov.

Beware of Debt Relief Scams

Big debt can be a big beast. One that takes huge bites out of your budget and destroys any chance you might have at strong financial wellness. Unfortunately, scammers know this, so they target victims with debt relief scams.

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

How the scams play out

Debt relief scams target consumers who may have a lot of credit card debt under any or a combo of the following guises:

Debt repair service to greatly increase their credit score in no time
Service to remove negative credit report info
Promise to reduce credit card rates

The target, who is desperate to shed their debt, will pay any price for the promised outcomes. The scammer then fails to come through as promised, leaving the consumer even deeper in debt.

Red flags

These red flags can help you identify a debt relief scam:

Someone guarantees to bring your credit score up by a specific number of points within a short time.
The service promises to get rid of factual credit report information on your credit file.
They demand an up-front payment.
The service claims to be affiliated with a credit card company, but that company doesn’t recognize the service.
They tell you to cut off all communication with creditors.

The do’s and don’ts of credit repair

If you’re looking for a legitimate credit repair service, these tips can help.

Do:

Research the service you consider using. Look for a secure site with a phone number and street address, as well as positive reviews from past clients.
If the service claims to be affiliated with a credit card company, give the company a call to verify.
Ask for a clear explanation of all fees and conditions.

Don’t:

Never pay an upfront fee for a debt relief service.
Don’t believe a service that guarantees to bring up your score by a certain amount in a specified timeframe.
Don’t believe that a service can get rid of negative information on your credit file.

If you’re deep in debt, don’t despair. Let Olean Area Federal Credit Union help you get out of debt through a debt consolidation loan. Call, click or stop by today to learn more.

Beware Tax Filing Scams

It’s tax time! Unfortunately, that means there are thousands of scammers looking to steal your information and your tax refund by posing as authentic tax preparers. Here’s all you need to know about these scams and how to keep safe.

How the scam plays out

In a tax filing scam, a victim will hire an alleged tax preparer to do their taxes. The scammer then uses the victim’s information to file a tax return in the victim’s name. They’ll change some important details on the tax form, such as a checking account number or mailing address, and then collect the victim’s refund. By the time the victim realizes what’s happened, they’ve lost the money owed to them by the IRS and are now vulnerable to deeper identity theft.

Protect yourself

The best way to stay safe from a tax filing scam is to do your research carefully before hiring a tax preparer.

First, avoid pop-up ads when choosing a tax preparer, especially those that are riddled with typos. Research any preparers you consider hiring by asking for references of previous clients and by looking for a physical address on their website. Be suspicious, as well, if they promise a large return without knowing anything about your finances.

Second, before hiring an individual or an agency to do your taxes, ask to see their Preparer Tax Identification Number (PTIN). If the “preparer” refuses to share their PTIN, you’re being scammed.

Finally, if you’ve already hired a preparer but you’re suspicious about their authenticity, look for these red flags:

The preparer inflates numbers that affect your tax liability.
They claim ineligible individuals as your dependents.
They ask you to sign a blank form and promise to fill out the remainder after you sign.
The preparer refuses to sign your form.

In the event that your tax preparer follows any of the above practices, terminate your relationship with them immediately.

When you’ve been targeted

If you’ve been targeted by a tax filing scam, report it to the authorities immediately! Let the FTC know about the scam and alert the IRS. If you’ve shared personal information with the scammer, you are now vulnerable to identity theft. Check out the federal government’s page on identity theft recovery to learn what steps to take next.

Stay safe!

4 Scams to Watch for After the Holidays

The weeks after the holiday season generally bring an increase in scams that can be difficult to spot. Watch out for these common post-holiday scams.

1. Charity scams

When giving charity this time of year, be extra cautious. Verify it’s legit by looking up the organization on CharityNavigator.org, doing a quick Google search with the “charity name+scam” and look for a physical address and phone number on its website. Also, if you have a specific cause you like giving to, contact them personally instead of clicking on an ad that allegedly represents them.

2. Bargain-priced gifts for sale

The weeks following the holidays bring a rush of scams on resale sites like Craigslist and eBay.

Avoid a gift scam by exercising caution when buying an item on a resale site, especially after the holidays. Ask for the seller’s phone number, street address and for several references to see if they check out. If everything seems to be in order, make arrangements to meet in a well-lit and populated area, preferably one with security cameras. Make the exchange after you’ve checked out the legitimacy of the item, using cash only.

2. Belated holiday e-cards

Scammers send thousands of virtual greetings after the holidays, most of which are loaded with malware. An authentic e-card will include a confirmation code for you to copy and paste to the associated website. If you receive a late e-card without such a code, don’t open it. Mark it as spam and delete the email.

4. Post-holiday sales

Unfortunately, lots of the advertised sales you may see in the weeks after the holidays are actually scams. The scammers may be working off a bogus site that looks just like one representing a legitimate business, or they may be targeting their victims with emails that advertise “sales,” but are embedded with malware.

Before making an online purchase, check the site for signs of authenticity. Look for the “s” after the “http,” and check for the lock icon in the URL. If the site allegedly represents a well-known retailer, check the URL for misspellings. Look for the store’s logo on the site, and continue to check the URL of each landing page as you complete your purchase.

If you spot one of these scams, report it to the FTC at ReportFraud.ftc.gov.

Stay safe!

How to Avoid Credit Card Fraud this Holiday Season

With the holiday shopping season heading into its final frenzied stretch, scammers are in full force, taking advantage of busy shoppers. Protect yourself, and your cards, from fraud with these safety measures and preventative tips:

Monitor your credit

Stay alert and identify the first signs of fraud to your credit accounts by reviewing your credit card statements well. It’s also a good idea to sign up for alerts to be notified of unusual or large purchases made on your card.

Strengthen your passwords

Do each of your accounts have their own unique password? Are passwords strong, using a combination of letters, numbers, and symbols as well as varied capitalization use? If any of your passwords use your personal information, like birth dates or street names, change them. They are easily guessed and then can be used to hack into multiple accounts and/or lead to identity theft. Strengthen any weak passwords now to prevent fraud.

Shop with caution

Only shop reputable sites and avoid clicking on pop-up ads or links in emails from unverified senders. To confirm a site’s security, look for the lock icon before the URL and the “s” after the “http.” Finally, make sure the security settings on your devices are updated and choose a VPN (virtual private network) when using public Wi-Fi.

Keep your cards close

Don’t forget to take basic precautions with your credit cards, especially if you’ll be hitting a lot of shops before the holidays. Keep your card tucked into your wallet or purse. If you use a cardholder on your phone case, keep your phone in a safe place and make sure the card numbers are not easily visible. Finally, put your card away right after completing a purchase.

Take immediate action if there are signs of fraud

If you suspect your credit card has been used fraudulently, alert your issuer and financial institution immediately. Your old card will be canceled to prevent additional bogus charges and you’ll be issued a new one so you can complete your shopping. Consider placing a credit freeze on your accounts as well.

Stay safe!

4 Scams to Watch Out for this Black Friday

Black Friday has traditionally been the day that ignites the holiday shopping season, sending masses of crowds through retailers across the nation. Unfortunately, it’s also a day that spawns a season of shopping scams.

Here are four scams to watch out for on Black Friday and throughout the holiday shopping season:

1. The Amazon Prime service fraud scam

In this ruse, a scammer posing as an Amazon representative, will call to notify a target about an alleged problem with their Prime account. The victim is prompted to download a tool onto their computer or mobile device so the caller can gain remote access for “helping them resolve the problem” at hand. They’ll then be instructed to log onto their banking account so the caller can be compensated for their time. Unfortunately, this will give the scammer free reign over the victim’s accounts.

2. Phishing emails

In these scams, the victim receives an email allegedly sent by Amazon or another large retailer, asking them to verify or update their account. Or, it might be to supposedly confirm an order. By using the link dropped into the email, the user will give their personal information directly to the scammer.

3. Delivery issues

Delivery scams generally take the form of a message appearing to be from UPS or another delivery service, informing the victim of a “delivery issue” with an order. They’ll be asked to confirm or update their info using a provided link. Doing so gives the scammer access to their financial information and opens the door to identity theft and more.

4. Non-delivery scam

This scam involves a purchased gift that never arrives. Unfortunately, the seller disappears after payment, leaving the victim with no way of notifying them about the no-show or for requesting a refund.

Avoid Black Friday scams

Never grant a stranger access to your device and/or accounts.
Don’t open links sent in emails from unverified contacts.
Never share sensitive information with an unknown contact.
Keep the privacy and spam settings on your devices at their strongest settings.
If you have an issue with an ordered item, contact the retailer directly through their site.
When shopping on a new site, look for a physical address, a customer service number and copy that’s free of spelling errors.

Stay safe!

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 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!