3 Tips to Avoid Becoming a Victim of Fraud

From the end of 2020 through the first quarter of 2021, the prevalence of banking fraud increased by an astonishing 159 percent. Scammers and thieves are working hard to steal your money. Keep your bank accounts safe and avoid becoming a victim of fraud by following these tips.

1. Avoid Replying to Suspicious Text Messages or Emails

Some of the most common fraud schemes involve the use of text messages or email. These schemes are so prevalent, they're occurring on a national basis.

You'll receive a message stating, "You won an Amazon gift card!" You're then encouraged to click on a link or download a program to claim your gift card.

Unfortunately, you're downloading dangerous programs, like malware, to your phone or computer. The malware contains viruses that make it easy for thieves to monitor your personal activity and, ultimately, steal your personal information.

Never click on a link to claim an unsolicited gift card. Don't reply to these messages, and if possible, avoid opening them in the first place.

Threatening emails or text messages that appear to be from the IRS are also common. The IRS doesn't initiate contact via email or text messages. They will never demand immediate payment or threaten you for not paying your taxes. You will always receive correspondence in the mail if you have a legitimate tax issue.

If you're concerned your banking info has been compromised or you have been a victim of fraud, contact CCCU at: 702-228-2228.

2. Be Vigilant When Using a Bank or Credit Union ATM

If you visit a credit union ATM to withdraw cash or conduct banking business, give the machine a once-over to ensure it's safe to use. Thieves will install skimmers on ATM machines; when you insert your card into the skimmer, it collects your card number and PIN number so they can be used to produce counterfeit cards.

Examine any ATM machine before using it. Be leery of card slots that look bulkier than usual or that have a different color or appearance. When in doubt, wiggle the card slot to see if it moves. If it does, this is a strong indication that there's a skimmer in place. Contact the financial institution that owns the ATM as soon as possible to inform them their machine is compromised.

3. Monitor Your Bank Accounts

When possible, check your accounts daily from a secure device. Avoid using an open Wi-Fi network or one that you're not sure is secure.

Look for transactions you don't recognize, even if they're a small dollar amount. Sometimes, thieves will try a small transaction to make sure the account is active and has money in it.

Report any suspicious activity on your CCCU account immediately. We'll help you take steps to secure your account and help you avoid becoming a victim of fraud.

Have more questions about safe banking practices? Connect with CCCU today!