Fraud Awareness Month - Basecamp Newsletter
Welcome to the Fraud Awareness Month special edition of Basecamp! Each month, we bring subscribers free tips and strategies to improve their financial well-being, plus some insight into all the resources that P1FCU members have access to. Wrapping up Fraud Awareness Month, we're sending each member this special edition of our Basecamp Newsletter to help you keep your information secure and steer clear of scams and fraud. If you'd like to receive monthly financial literacy tips and exclusive content, subscribe below.
Fraud is on the rise, and scammers keep getting sneakier. In our latest episode of Making Sense of Money, we sat down with Detective Tyler Crane from the Lewiston Police Department to talk about the fraud they have seen, how to spot red flags, and why trusting your gut could save you thousands of dollars. With March being Fraud Awareness Month, there is no better time to sharpen your fraud-fighting knowledge and protect yourself from scams.
Scams Have Increased With Technology
Detective Crane sees phony tech support pop-ups as the most common scams in the LC Valley. You'll be online, a window suddenly tells you there's an issue with your computer, and a number appears to call for "help." Before you know it, you're on the phone with someone who sounds official and asks for access to your device or personal info.
Even Detective Crane admits that these scams are getting better at sounding legitimate. "They can be compelling," he says. "It's not exclusive to older people. Anyone can fall for it." Thanks to technological advancements, fraudsters can now operate from across the globe and target people worldwide.
Watch Out For The Big Red Flags
Detective Crane shared some straightforward advice. If someone is asking you to:
- Pay with cryptocurrency
- Buy iTunes or gift cards
- Share your Social Security number or bank account info over the phone
It's likely a scam.
Criminals often spoof phone numbers to look legit or pose as a boss or banking representative to trick people into urgent action. Slow down and double-check before sharing anything.
Crane explains that cryptocurrency is especially tricky because it's harder to trace than traditional bank transfers. "It's much more difficult than working with banks," he says. Once someone sends money via crypto, that money is gone and cannot be retrieved.
What is Detective Crane's #1 Tip? Click below to read the full article.
More About Fraud
Protecting our members from fraud is one of our most important goals. With fraudsters more prominent than ever, our education must constantly be adapting. Below are some resources we offer that can help you protect yourself.
Monitor Your Score
Using My Credit Journey to monitor your credit score and ensure that you're aware of all credit lines in your name. Click below to learn how to opt in today.
Internet Safety Tip - Keeping Your Devices Up to Date
Keeping your software up to date is like adding an extra layer of armor in the fight against hackers and fraudsters. These updates often include critical patches for security vulnerabilities that, if left unaddressed, could be exploited by malicious parties. It’s a simple yet effective way to ensure your digital environment remains as impenetrable as possible.
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This is for educational purposes only and not financial advice.