Staying Safe from Financial Fraud: Tips and Tricks

In today’s digital age, financial fraud has become an increasingly common problem. Scammers are using sophisticated tactics to steal sensitive information, leaving victims with significant financial losses and emotional distress. But don’t worry, there are ways to protect yourself and stay safe.

Identifying Phishing Scams

Phishing scams are a sneaky tactic used by scammers to trick you into revealing your personal and financial information. They often disguise themselves as legitimate emails, texts, or websites from trusted sources like your bank or credit card company. Here’s how to spot the signs:

Always double-check sender information at face value.
Be wary of threats such as urgent deadlines, legal action, or account suspension threats.
Contact the institution directly through a verified phone number or email.

Caller ID Spoofing: A Common Scamming Tactic

According to the Federal Communications Commission, caller ID spoofing lets scammers disguise their phone number to appear local or trustworthy. Here’s how to fight back:

Hang up on unknown callers.
Don’t engage with the caller if you answer by mistake.
Just hang up! The safest option is to end the call immediately.

Protecting Yourself from Credit Card Theft

Credit card fraudsters often rely on stolen information from phishing scams. Once they have your details, they can wreak havoc, opening new credit lines in your name or even wiring money directly from your accounts. Don’t be a victim!

Freedom CU’s Robust Fraud Prevention Tools

Freedom CU empowers you to fight back with our robust fraud prevention tools:

Real-time Transaction Verification: Get instant notifications and approvals for every purchase, minimizing the window of opportunity for fraudsters.
Automated Fraud Text Alerts: Receive immediate SMS notifications of suspicious activity on your account, allowing you to take swift action.
24/7 Fraud Alerts: Stay informed with customizable alerts for all credit and debit card transactions.

Signing Up To Get Fraud Alerts is Quick, Free, and Easy

Keep safe and stay protected on the go with financial fraud alerts from Freedom. Here’s how to sign up:

Log into online banking.
Update your mobile phone number and email by logging into Freedom’s online and mobile banking. Select “edit profile” from the “settings” menu.
Opt in or out of the program by using the convenient online tools.

Automatic alerts and text message notifications are free for all members and provide a critical level of security for your credit and debit cards.

In conclusion, staying safe from financial fraud requires vigilance and knowledge. By recognizing the signs of phishing scams, caller ID spoofing, and credit card theft, you can protect yourself and your loved ones from these common threats. Don’t let scammers get away with your hard-earned money – stay informed and take action to prevent financial loss.

Financial Fraud News & Resources

For more information on preventing financial fraud, check out the following resources:

Unemployment Fraud: How it’s Detected and Reported
Why Was My Credit Card Declined? 10 Reasons
How to Protect the Elderly From Fraud & Financial Exploitation