At P1FCU, protecting our members from financial scams is a top priority. We want to help you stay informed about trending scams and provide the resources and information you need to keep your finances safe.
To help us stay informed and spread awareness, we spoke with Nikki Langley from the Crime Prevention Office in Walla Walla, Washington. Nikki shared some of the scams currently being reported in the area, along with tips to help you recognize scams and avoid becoming a victim.
Law Enforcement Scam
A law enforcement scam occurs when a criminal impersonates a police officer, federal agent, or court official to steal money or personal information from victims. “We’ve had quite a few reports of people being contacted and told they have an unpaid fine or traffic fee,” Nikki shared.
The criminal uses urgency and fear as a tactic, telling their potential victim that if they do not pay the fine immediately, a warrant will be issued for their arrest. The demand for payment to avoid any warrants is through Apple Pay or gift cards. Although there are still many reports of this scam, awareness is spreading, and fewer people have fallen victim to it in the Walla Walla area.
You can learn more about these scams and how to spot them here.
Banking Impersonation Scam
This type of scam is a phone scam in which someone impersonates your financial institution, using a spoofed caller ID to make the call appear legitimate. Nikki shared an example of a victim who called to report the scam and help make others aware.
The victim received a phone call claiming to be from their financial institution. The caller notified the victim that there had been a “security breach” involving the victim’s account. What made this scam so believable was that the fraudster was able to verify the victim’s Social Security number and recent transactions.
Because the caller appeared to have legitimate information about the victim’s account, the victim believed they needed to transfer their funds to another account at the same financial institution for safekeeping.
“That’s what makes these scams so convincing,” Nikki said. “The scammers may have information about you that makes you think the call is legitimate.” The fraudster then instructed the victim to use Cash App to transfer the money, claiming it would be safer. As a result, the victim lost thousands of dollars.
This example from Nikki is another reminder of why it is important to stay alert and know what information your financial institution will never ask you to provide over the phone. Even if the caller ID appears to be from a trusted organization, it does not always mean the call is legitimate.
For a full list of things that P1FCU will never call and ask you for, click here.
Fake Check Overpayment Scam
This type of check scam is another example recently reported in the Walla Walla area. A victim posted online offering tutoring services and was contacted by someone claiming they wanted to hire them. The scammer sent the victim a check as payment.
When the victim received the check, they noticed that the amount was higher than what had been discussed. After depositing the check into their account, the victim received a message from the sender asking them to send the extra money back through Zelle.
Unfortunately, after the victim sent the money back, their financial institution notified them that the deposited check was fraudulent. Because the money had already been sent to the scammer, the victim lost those funds.
“Anytime someone sends you extra money and then immediately asks you to send it back, that is a major red flag,” Nikki said.
To read more examples of common and trending scams, click here.
Knowing the Red Flags
Thankfully, people are recognizing the warning signs when they receive calls like these. Rather than continuing the conversation with the scammer, they have hung up and contacted the Walla Walla Police Department to report the scams. "When people report these scams, it helps us identify what’s happening in our community and warn others,” Nikki said.
If you receive a suspicious call or message, remember:
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Slow down – Scammers often create a sense of urgency and fear to prevent you from thinking through the situation.
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Don’t send money – Be cautious if someone asks you to use gift cards, payment apps, cryptocurrency, or other online payment methods.
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Don’t share sensitive information – Your financial institution will not call and ask you to provide sensitive information through an unexpected call or message.
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Verify – If you receive a suspicious call claiming to be from your financial institution, hang up and contact the institution using the official phone number from its website, app, or back of your card.
If you receive a suspicious call, hang up immediately and contact your financial institution using an official phone number. For P1FCU, visit https://www.p1fcu.org/contact-us to see how you can contact us securely.
Staying informed is one of the best ways to protect yourself. When you know what scams look like and recognize the red flags, you can feel more confident in spotting a scam before it becomes a financial loss.
