Being aware of fraud and phishing scams is largely about recognizing patterns. Scammers rely on fear, impersonation and urgency. By understanding fraud tactics, you can dramatically lower your risk of falling victim to a scam.

Understand What Phishing Is
Phishing is when someone contacts you pretending to be from a trusted organization — like a financial institution, the IRS, or a company like Microsoft. Their goal is to trick you into giving up your personal information. They might ask for passwords, debit/credit card numbers, one-time security codes, social security numbers or online banking login details. If someone is asking for sensitive information unexpectedly, that’s your first red flag. Credit Unions do not ask for passwords, one-time authentication codes or PIN numbers.

Understand Their Tactics
Scammers want you to panic by creating urgency or threats, so you don’t think clearly. To cause panic, they might say something like “your account will be locked in 30 minutes,” “suspicious login activity detected — act now,” “package delivery failed” or “you owe money immediately.” If someone ever calls or emails you pretending to be your financial institution and asks for a code that was just texted to you — that’s almost always fraud. Requests for you to go buy gift cards are almost certainly fraud as well. It’s best to completely ignore and delete these requests.

Golden Rules
If you didn’t start the contact, don’t trust it. If someone contacts you with a suspicious request, try contacting the company on your own without clicking suspicious links. Log in directly to your online banking app to investigate suspicious comments about your accounts. If someone contacts you about card fraud, try calling the number on the back of your credit or debit card. Don’t give up your personal information unless you initiate the contact. If you ever have questions or concerns about fraud, contact us at 248-624-5222.