At Vicinity Credit Union, our members’ financial security is our top priority. Fraudulent activities are constantly evolving, and it’s crucial to stay informed to protect yourself and your hard-earned money. Whether you’re banking online, using your debit card, or making payments, knowing how to spot fraud and take action quickly can save you from serious financial loss.
Here are some valuable tips to help you recognize and prevent fraud:
1. Recognize Phishing Scams
Phishing scams are one of the most common forms of fraud. These scams involve fraudulent emails, phone calls, or text messages that appear to come from trusted organizations—like your bank, credit union, or even government agencies. They often ask for personal information such as your account number, Social Security number, or login credentials.
Red Flags:
- Emails or messages with a sense of urgency (e.g., “Your account has been compromised! Click here immediately.”)
- Requests for sensitive information (real financial institutions will never ask for personal data via email).
- Misspellings, odd phrasing, or unfamiliar sender email addresses.
What to Do:
- Always verify the source by contacting the institution directly using official contact information.
- Never click on links or open attachments from unknown senders.
2. Watch Out for Identity Theft
Identity theft occurs when someone steals your personal information to open accounts or make unauthorized transactions. It can happen when you least expect it—especially if you’re not keeping track of your accounts.
Red Flags:
- Unexpected credit card or loan offers in your name.
- Missing mail or unexpected changes to your credit report.
- Unexplained activity on your bank accounts or credit cards.
What to Do:
- Regularly check your credit report with Credit Score and More in online banking for any signs of unusual activity.
- Use strong, unique passwords for your online banking and other financial accounts.
- Enable two-factor authentication for added protection.
3. Secure Your Online Banking
Online banking offers convenience, but it also requires vigilance. Cybercriminals are always looking for new ways to steal information online. Protecting your online banking account is a must.
Tips for Secure Online Banking:
- Use complex, unique passwords and change them regularly.
- Enable two-factor authentication to add an extra layer of security.
- Avoid using public Wi-Fi to access your accounts. If you must, use a VPN (Virtual Private Network) to secure your connection.
- Always log out of your online banking account when you’re done.
4. Protect Your Debit and Credit Cards
Fraud can also happen when your debit or credit card information is compromised. Criminals may use your card details for unauthorized purchases or transactions.
Red Flags:
- Unrecognized transactions on your card statement.
- Unexpected charges appearing in your account.
What to Do:
- Immediately report any suspicious transactions to Vicinity Credit Union.
- Keep your card in a safe place and avoid sharing your PIN or card number with anyone.
- Monitor your account regularly for unusual activity.
5. Keep an Eye Out for Impersonation Scams
Impersonation scams involve someone pretending to be a representative from a legitimate company—often claiming they need to confirm your information or offer you a prize. They may ask you to send money or provide confidential details.
Red Flags:
- Someone requesting immediate payment or information over the phone, especially if it’s unsolicited.
- Calls claiming to be from “Vicinity Credit Union” or another institution, asking for verification of personal information.
What to Do:
- Hang up and call the official customer service number from the back of your card or the website to verify the claim.
- Never provide financial information over the phone unless you’re the one initiating the call.
6. Stay Informed and Report Fraud Immediately
The faster you act, the less likely you are to suffer from fraud. If you suspect that you’ve been targeted or have fallen victim to fraud, immediately report it to us. Our team is ready to help you take the necessary steps to protect your accounts and resolve the issue.
What to Do:
- Call us as soon as you notice suspicious activity.
- Consider placing a fraud alert using Credit Score and More – available in online banking – or credit freeze on your credit report to prevent further damage.
- File a report with the Federal Trade Commission (FTC) and your local law enforcement.
Conclusion: Staying Safe with Vicinity Credit Union
Fraud is a serious concern, but with the right precautions, you can significantly reduce your risk. At Vicinity Credit Union, we’re committed to keeping your financial information safe. By staying aware of common scams, safeguarding your personal information, and acting quickly if you suspect fraud, you’ll be better equipped to protect yourself.
If you have any questions or need assistance, don’t hesitate to reach out to our team. Your financial security is our priority.
Stay informed, stay protected, and stay safe with Vicinity Credit Union!
