Top Reported Scams and How to Avoid Them
Here at Robins Financial, the security and safety of our members and your information is top priority. Despite our greatest efforts, scammers are constantly coming up with new ploys to trick you into sharing personal and financial information with them. It’s our goal to make sure you are kept up to date and prepared for potential scams, as well as provide you with the best advice of how to keep yourself from falling victim. Here is a snapshot of the top reported scams we saw in 2022 along with steps you can take to protect yourself.
Account Activity Scams (Smishing)
Recently members have reported receiving text messages claiming to be from Robins Financial. These texts will contain a message regarding account activity such as a blocked attempt to change your password, closure of your account, failed payment, etc. The text will also contain a clickable link to a site that may initially appear similar to our website or Digital Banking site, but it never is. If you do click the link sent to you, you will then be asked to enter your Digital Banking login credentials on this fake site in order to “block” the attempts. This scam is a form of smishing (phishing via SMS or text message) and an attempt by scammers to get their hands on your personal and account information.
- What can you do? It’s important to NEVER click on links sent from unknown or unfamiliar sources. We will never send you text messages instructing you to follow a link to verify your account information. We will also never ask for your Digital Banking username or password. We don’t need this information to verify your account, so it’s vital to keep your login credentials secure from others.
Job Opportunity Scams
Since the outbreak of COVID-19, there has been a popular demand for work-from-home job positions, and scammers are taking advantage of it. With job opportunity scams, scammers will gather information from job postings on legitimate websites such as Indeed. They then use this information to pose as job recruiters, calling, emailing, texting, or reaching out through social media with high-salary or work-from-home positions. Their goal is to convince you to submit personal information for their “application.” Sometimes they will even try to persuade you to send money to go towards a bogus home office setup.
- What can you do? If you are approached with a job offer from someone appearing to be a recruiter, you should always verify with the company that this is a legitimate offer. It’s best to do your research about the job position and reach directly out to the company through a reliable contact number. Never share sensitive information with anyone you don’t know or trust.
Cryptocurrency Scams
Investing in cryptocurrency has skyrocketed in the last three years and scammers are well aware of this peak in interest. Scammers will entice potential investors with unreasonably high returns on their investments to gain their attention. They will use phishing emails with fake links, which when opened, will take you to a fake trading website that looks identical to a legitimate one. From there, you will be asked to enter personal and financial information in order to start your investment.
- What can you do? If you’re planning to start investing in cryptocurrency, it’s important to do your research beforehand. If a company is promising you unbelievably high returns on your investments, it’s most likely a scam. Doing your research will help you find a reputable company to do your investing through. If you received emails or texts appearing to be from an investment company containing a clickable link to their “website,” delete it immediately.
Romance Scams
Let’s be honest, dating is complicated enough on its own, but scammers are adding an extra twist in with this scam. Scammers will create fake profiles on social media and dating apps to lure in their victims. They will then work to gain your trust, getting you to share personal details about yourself and others in your life. Once they get close enough to you, they will typically come up with a story to convince you into sending them money. It could be anything from a family member they claim is “sick” to their car breaking down and needing funds to have it fixed.
- What can you do? Many people nowadays are forming relationships with people they meet online. There’s nothing wrong with that, however, you should be wary when sharing personal information with anyone you don’t know or trust. You should also never send money to someone you don’t know, no matter the circumstance.
Online Shopping Scams
Shopping online is easy and convenient for many and is continuing to grow in popularity, making it the perfect platform for scammers to use in their ploys. Scammers will often create fake online shopping websites that offer great discounts to lure customers into buying items from them. Buyers place their orders, enter their payment information, but never receive their items. The scammer then makes off with the customer’s payment information and money, and the customer is left dealing with the aftermath.
- What can you do? If a website is offering you unbelievably low prices, it’s probably too good to be true. Before making online purchases, research and check recent reviews for the website. You can save yourself the stress and time of filing a fraud claim and protect your money by staying vigilant while online.
Scammers are getting more sophisticated in their schemes, and we want to make sure you know how to spot scams and stop them in their tracks. You can learn more about how we protect our members by visiting our Security and Fraud page on our website. You can also tune into our Scams and Fraud playlist on YouTube for more information about scams lurking around. If you or someone you know suspects potential fraudulent activity, please report it immediately.
At Robins Financial Credit Union, our mission is to enhance the financial well-being of our members and community. We honor this commitment by providing educational content to help you make the most of your finances. Read our other blog articles to help you gain the financial knowledge you need to succeed.