Common Types of Fraud Today

At Community 1st Credit Union, your financial security is one of our main objectives.  In today’s digital age, fraud schemes are constantly evolving, and understanding the latest trends in fraudulent activities is crucial to developing effective prevention strategies.

Here's a breakdown of the top scams to watch out for:

1. Phishing Scams:

• What it is: Scammers send emails, texts, or phone calls posing as your credit union or other legitimate organizations to steal your personal or financial information.
• How to spot it: Be wary of unsolicited messages that request sensitive information like login credentials, account numbers, or PINs.
• What to do: Never click on suspicious links or provide information to unknown sources. 

2. AI-Generated Scams:

• What it is: Scammers use AI to create realistic-looking or sounding impersonations of family, friends, or colleagues to gain trust and solicit money.
• How to spot it: Be cautious of messages that seem too urgent or out of character.
• What to do: Verify the authenticity of any requests for money or information by contacting the person or organization directly through a trusted channel. 

3. Investment Scams:

• What it is: Scammers lure people into fake investment opportunities, promising high returns with little risk.
• How to spot it: Be wary of unsolicited investment offers, especially those that seem too good to be true or require upfront payments.
• What to do: Consult with a registered financial advisor before investing and never send money to someone you don't know or trust. 

4. Imposter Scams:

• What it is: Scammers impersonate law enforcement, government officials, or other trusted figures to gain access to your personal information or finances.
• How to spot it: Be wary of unsolicited calls or messages from unknown sources, especially those that demand immediate action or payment.
• What to do: Never provide personal information to unknown callers or send money to someone you haven't verified. 

5. QR Code Scams:

• What it is: Fraudsters place fake QR codes in public places or emails to direct users to malicious websites that steal information.
• How to spot it: Always preview the URL before scanning, check for tampering, and ensure the branding matches the legitimate source.
• What to do: Avoid scanning QR codes from unknown sources, especially those requesting login credentials or payment details. If in doubt, type the website address manually.

Additional Scams to Be Aware Of:

• Gift Card Scams: Fraudsters may ask you to buy and send gift cards as payment, often posing as a trusted person or company.

• Romance Scams: Scammers build fake online relationships to gain trust before requesting money.

• Sweepstakes Scams: You’re told you’ve won a prize, but you must pay a fee to claim it. Legitimate sweepstakes never require payment.

• Family Emergency Scams: Criminals impersonate loved ones in distress, urging you to send money immediately.

• Tax Scams: Scammers pretend to be IRS agents, demanding money or sensitive information under the threat of penalties.

• Tech Support Scams: Fraudsters pose as tech support, claiming your device has an issue and requesting payment to "fix" it, often installing malware instead.