Spotting Fraud: Protect Yourself Online and Offline

Fraud and scams come in all shapes and sizes, and fraudsters are always looking for new ways to take advantage of your hard-earned money.

Discover smart ways to protect yourself from fraud—whether in person, over the phone, or when handling payments like wire transfers and checks. Explore tips and insights below to stay safe and secure.

Top Signs of Fraud

Protect yourself by learning the common signs of fraud. 

1. You’re contacted unexpectedly. Many fraudsters start with a call, letter, email, text or social media message out of the blue. 
2. You’re asked to provide personal or financial information – a common tactic in fraud schemes. Never send money or give out personal information in response to an unexpected request. If you’re unsure, contact the source directly. 
3. You’re pressured to act quickly. Fraudsters want to rush you into making a decision before you have time to think it through. Always slow down and think before you click, act or respond. 
4. You’re asked to use untraceable payment methods. Fraudsters often ask you to use untraceable payment methods like wire transfers, gift cards or cash to receive a “prize” or payment. But once the money is sent, it’s gone for good. 
5. It sounds too good to be true. If an offer or request seems suspicious, steer clear. Remember, if something sounds too good to be true, it probably is!

Online Fraud

Online fraud is more common than ever with cybercriminals using phishing, smishing, and hacking to steal personal and financial data.

Common online fraud:

• Phishing and Smishing: Phishing occurs when fraudsters pose as trustworthy sources, including banks or credit unions, and ask for your personal or financial information over email. Smishing uses the same tactics but via text.
• Hacking and data breaches: Cyber criminals use technology to breach the information systems of businesses and steal consumers’ personal data, including credit and debit card information. 
• Romance scams: Fraudsters create phony profiles on legitimate dating websites and take advantage of relationships formed with their victims to obtain money or personal information.

How to protect yourself:
Always think before you click, respond, react, or share your personal information online. Make sure your devices are updated with firewalls and anti-spyware to prevent hackers from accessing your information. When it comes to online dating websites, stick to larger companies with a positive reputation and beware of interactions with users from overseas. Many fraudsters operate from outside of the United States. Monitor your accounts and credit reports frequently to check for unusual data. 

In-Person Fraud

Fraudsters may also target their victims in person to access their money, financial data, or personal information. 

Common in-person fraud:

• Charity Fraud: Scammers go door-to-door soliciting donations for phony charities. Charity fraud frequently occurs during awareness months or after natural disasters.
• Card Skimming: Card skimming occurs when a criminal attaches a phony card-reading device inside or over the real card-reader, often at an ATM or gas pump. The device is equipped with recorders that capture the information from your card.

How to protect yourself:
Always research charities to verify the legitimacy of the organization before making a donation. To check for skimmers, give the card-reading device a tug and look for signs of broken seals around the card-reader. 

Phone Fraud

Fraudsters may contact victims over the phone posing as reputable sources and request money or personal identifiable information. 

Common phone scams:

• Vishing: Fraudsters make phone calls or leave voice messages posing as reputable sources, such as banks or credit unions, and ask individuals to provide account details or personal information.
• Tax, debt, or bill collector scams: Frausters call pretending to be from the IRS or collecting agencies and make demands for money for a past due debt or taxes, often in a threatening manner. 

How to protect yourself: 
Don’t respond to unsolicited phone calls asking for your personal information, and never give out your account information, including your PIN, over the phone. Always research opportunities, charities and travel packages on your own, separate from potential calls about them. If you’re unsure about a phone call, remember that it’s okay to hang up! If you believe you have been the victim of an IRS impersonation scam, contact the Treasury Inspector General for Tax Administration (TIGTA). You can also register your phone number with the National Do Not Call Registry online or by calling 1-888-382-1222. If you still receive telemarketing calls after registering, there’s a good chance that the calls are fraud. 

Mail Fraud

Mail fraud is a federal crime and includes schemes or activity carried out with the use of United States mail.

Common types of mail fraud:

• Mail theft: Criminals commit mail theft by placing a sticky substance in mailboxes to retrieve letters, cards, and packages. The thieves then sort through the mail to steal checks, cash, gift cards, and documents that contain personally identifiable information.
• Sweepstakes and lottery fraud: Scammers send out letters congratulating an individual on winning a prize for a lottery or sweepstakes contest that they never entered. The scammers try to trick victims into sending or wiring money upfront for fees or taxes in order to receive their winnings.

How to protect yourself:
To avoid mail theft, empty your mailboxes daily and don’t send cash or gift cards through the mail. If you’re traveling, ask your local post office to hold your mail until you return. Sign up for WPCU’s Online Bill Pay instead of mailing checks to prevent mail fraud. WPCU also offers free certified bins for members to safely dispose of their confidential mail and checks, helping to prevent the risk of fraud. Finally, remember that you cannot win a contest or lottery that you did not enter in the first place. If an offer seems too good to be true, it probably is!

Wire Transfer and Check Fraud

Wire transfer fraud and check fraud are among the fastest-growing financial crimes—once the money is gone, it can be difficult to recover lost funds. Fraudsters use these methods to trick victims into sending funds or cashing counterfeit checks.

Common wire transfer and check fraud:

• Work at home scams: Consumers are offered a part-time job where they are asked to deposit checks into their personal accounts, keep a percentage as commission, and wire the rest to their “employer.” The checks are often fraudulent and the consumer is held responsible for check fraud. 
• “Grandparent” scams: Con artists contact their targets posing as a relative in need of immediate help and ask their target to send money via wire transfer. These scammers often take advantage of the elderly by posing as a grandchild.
• Check washing: After stealing a check, criminals use a special process to remove pen ink from the check and rewrite the name (and often the dollar amount) so they can cash the check themselves.
• Check overpayment scams: A scammer sends a counterfeit cashier’s check and asks their target to wire some of the money back. If the victim deposits the fake check and uses the money, they will be held liable.

How to protect yourself: 
Never wire money to someone you don’t know. If a relative asks you to send money via wire transfer, call other family members to confirm if the story is true. Store blank checks in a safe place and shred previously paid or canceled checks to prevent check washing. WPCU offers free certified bins for members to dispose of checks. Don’t cash suspicious checks and never wire money to someone you don’t know.  

Ready to Stay Fraud-Free? We’re With You!

Now that you know how fraud and scams happen, you can spot the signs and protect yourself. And, as your caring financial partner, Wright-Patt Credit Union® (WPCU®) is always here to help.

If you do suspect fraud or spot something unusual on your WPCU accounts, call the Member Help Center at (800) 762-0047 right away to get help protecting and securing your accounts or visit your nearest Member Center.