P&S Credit Union Wants to Keep You Safe from Scammers!

1. Card Skimming
   Skimming, where scammers steal card information through tampered ATMs or gas pumps, continues to cause financial distress. By installing small devices that capture card data in PINs, scammers can access bank accounts without the victim’s knowledge.Protection Tip: Before inserting your card, inspect ATMs and gas pumps for signs of tampering, use contactless payments whenever possible, and monitor your bank statements regularly for suspicious charges.
2. Phishing and Impersonation Scams
   Phishing scams, often delivered through emails or texts, attempt to trick people into revealing sensitive information by impersonating legitimate companies or government agencies. These scams have become increasingly personalized, using social engineering tactics to target specific groups like students, employees, or bank customers.Protection Tip: Avoid clicking on links in unsolicited messages. Instead, navigate to the organization’s website directly. If you receive an urgent request for information, verify it by contacting the organization through official channels.
3. Money Mule and Employment Scams
   Fraudsters lure victims into transferring illicit funds, often posing as legitimate employers or online romantic interests. Many people unknowingly participate in money laundering by handling funds or packages on behalf of scammers, risking legal consequences.Protection Tip: Be wary of job offers that seem too good to be true or ask for your bank details early on. Research employers and never agree to transfer money or packages on behalf of someone you don’t know personally.

General Protection Strategies

• Enable Alerts: Many banks and services offer alerts for suspicious activity. Enable these to catch fraudulent transactions early
• Use Strong, Unique Passwords: Avoid reusing passwords across sites, and consider using a password manager.
• Enable Two-Factor Authentication(2FA): Whenever possible, use 2FA for an added lay of security on your accounts.
• Stay Informed: Possible scams are always evolving, so stay updated on the latest tactics by reading trusted news sources and security tips from organizations like the Federal Trade Commission (FTC).

Conclusion: Scammers continually adapt their methods, targeting anyone from college students to seasoned online shoppers. By staying informed, verifying communications, and being cautious with personal and financial information, you can significantly reduce your chances of falling victim to scams. Next month we will be talking about protecting yourself while you finish your holiday shopping and remember, vigilance is your best defense against fraud in today’s increasingly digital landscape.