| Imposter Scams | Imposters pretend to be someone you know, like a family member or a friend, a representative from a government agency like the NCUA, IRS, or Social Security Administration, a tech support company, or a company you do business with. Imposters try to make you trust them in order to steal your personal information or ask you to buy a gift card, send digital currency, or transfer money. Be on guard. Government agencies, including NCUA, do not ask for money or your personal and financial information. When unsure whether they are who they say they are, DO NOT send money or share your information. Instead, terminate the communication and call the organization to authenticate the communication. |
| Online Shopping Scams | Online shoppers can be scammed in many ways: from not receiving products despite the payment to losing money and payment information to fake websites and apps. Scammers develop fake websites mimicking popular retailers’ sites and take your money and payment information without delivering products. They also create counterfeit apps containing malware (malicious software) for the same reasons. Be on guard. Read refund and return policies prior to making a purchase. If your order didn’t arrive or your refund request is denied, dispute the charges. Using a credit card for online purchases can make the dispute process much easier. Watch out for bogus websites and suspicious apps and only use official retailer websites and apps, which may offer stronger security. Also, monitor your credit and debit card transactions on a regular basis to increase the chance of spotting unauthorized purchases or withdrawals in the early stage of this fraud. |
| Prizes, Sweepstakes, and Lotteries | Scammers contact you claiming you won a prize, sweepstake, or lottery and then ask for money or your account information to cover taxes and other fees upfront. They might pretend to be from government agencies or claim you’ve won a foreign lottery, which is almost certainly a scam. Be on guard. Government agencies do not call to demand money or your financial information to collect a prize. Also, real sweepstakes are free and by chance. If you did not enter a lottery or sweepstakes or are unsure about the call, message, email, or letter, DO NOT send money or share your information. Instead, terminate the communication and call the organization to authenticate the communication. |
| Investment Fraud | There are various types of investment fraud, including Ponzi schemes and pyramid scams. A Ponzi scheme is a fraudulent investment scam that pays earnings to earlier investors with money from new investors – similar to a pyramid scam. In many cases, scammers promise high investment returns without making an actual investment. Though they are called by different names, most investment scams share the same characteristics, such as guaranteed high returns with no risk and high-pressure sales tactics. Be on guard. Fraudsters often avoid putting the details about the investment in writing or call them confidential. If this is the case for you, consult with fiduciary financial advisors or just walk away. DO NOT rush into an investment opportunity without your own independent research. Talking with people you trust can help you see the offer more clearly. When suspicious, don’t hesitate and report to as many agencies as apply: SEC, FINRA, CFTC, FBI, and FTC. |
| Business and Job Opportunity Scams | Scammers advertise job and business opportunities that sound too good to be true, such as doing minimal work with a high salary, pledging guaranteed income, or a proven business operation system. Scammers exploit your money and personal information by offering fake jobs or bogus coaching services, disguised as legitimate job offers, mentoring programs, or business opportunities. Be on guard. If it sounds too good, take your time and get a second opinion or talk to someone who has your best interests in mind. Before accepting a job offer, know that honest employers, including the federal government, will not ask for payment for the promise of a job. Before paying for a business opportunity, research the seller, the company, and the coach’s credentials, and ask for the legally required 1-page disclosure document that tells any lawsuits against the seller, a cancellation or refund policy, and other information. |
| Fake Check Scams | Despite many variations, fake check scams involve two main components: 1) scammers send cashier’s checks or money orders to you; and 2) they ask you to send part of the cashed money back to them in gift cards, money orders, or cryptocurrency. If you deposit the checks and they are later found to be fraudulent, you will likely be required to pay the deposited funds back to your credit union or bank. Be on guard. Cashier’s checks are not cash and it can take weeks to validate legitimacy. If the amount on the check is more than what it should be, void it and ask the sender to resend another check for the correct amount. Do not wire or send gift cards, money orders, or cryptocurrency. Your money is not protected in these transactions. |
| Check Washing Scams | Check washing scams involve changing the payee names and often the dollar amounts on checks and fraudulently depositing them. Occasionally, these checks are stolen from mailboxes and washed in chemicals to remove the ink. Learn more about check washing scams at United States Postal Inspection Service website.Be on guard. Retrieve your mail regularly instead of leaving it in your mailbox. Deposit your outgoing mail at your local Post Office or in blue collection boxes before the last pickup. If you’re going on vacation, have your mail held at the Post Office or have it picked up by a friend or neighbor each day. |
| Disaster Fraud | Disaster fraud typically involves others trying to take advantage of the situation and examples include fake government employees and bogus charities. Fraudsters approach when you are vulnerable and in crisis to exploit your money and financial information while pretending to help with recovery. Be on guard. No FEMA, federal, or state workers will ask for or accept money from you when applying for disaster assistance. If someone wearing a FEMA jacket or shirt without an I.D., approaches, do not trust or offer any personal information and always ask to see an official I.D. Take your time and contact government agencies or local law enforcement to confirm identity and legitimacy of suspicious contacts. |
| Romance Scams | Scammers adopt a fake online identity and gain your affection and trust. They then manipulate you into believing that you have a romantic or close relationship with them. They make plans to meet in person, but it never happens because they often claim to be working outside the country. They ask for money for emergencies or trick you into providing your sensitive information. Be on guard. Scammers may use details about you shared on social media or dating sites before targeting you. Watch what you share on your social profiles. Also, a reverse image search of the person’s photo may reveal whether your lover is real or fake. DO NOT send money, gift, or gift cards to your fake lover you haven’t met in person. |
