How to Protect Yourself From Scams and Fraud

With scammers coming up with new techniques every day to swindle your money from you, it can be difficult to stay up-to-date with how to best protect your personal financial information. We’ve broken down cybersecurity best practices into easy-to-follow tips, so you can confidently avoid scammers and fraudsters.

Know The Scam Warning Signs

1. Unsolicited Contact: Be wary of unexpected calls, emails, or messages.
2. Pressure to Act Quickly: Scammers often create a sense of urgency.
3. Requests for Personal Information: Legitimate organizations will not ask for information via phone or email.
4. Unusual Payment Methods: Be cautious if asked to pay with gift cards or wire transfers.

Follow These Tips to Protect Yourself:

• Lock your devices. Use a passcode or fingerprint to lock your phone or tablet. Use passwords at least 12 characters long.
• If someone asks you to pay by wire transfer or gift card, it’s probably a scam.
• Limit how much personal information you share online. Set your social media profiles to private. Only accept friend requests from people you know.
• Never click unexpected links shared via email, text message, social media, etc. A message asking you to click a link to confirm a package delivery or pay an overdue balance is likely a scam.

Common Scams

Telephone Scam

Scammers may call you pretending to be family members or from legitimate companies to steal your personal information. The scammer may even use technology to impersonate the voice of someone you know. Hang up if a call is suspicious and then call the alleged party back using their regular number. If the caller says they are from a technology company and says there is an issue with your computer, never give them access to your device.

Tips for Avoiding Telephone Scams:

• Be suspicious of any pressure to send funds via wire transfer or gift card.
• Talk to your banker before sending money for a second opinion – they can help you determine if the request is legitimate.
• Before offering your help to someone who claims to be in an emergency, hang up and call them back using their known telephone number.
• If a caller claims to be from an established organization, hang up and look up the number of the organization and call it directly

Gift Card Scams

Scammers might ask you to pay for services or settle debts using gift cards. They often claim to be from the IRS, a utility company, or even a family member in distress. They claim that immediate payment is needed. Once the gift cards are purchased, the scammer asks for the card numbers and PINs, allowing them to steal the funds.

Tips for Avoiding Gift Card Scams:

• Be Skeptical of Unsolicited Requests: If someone contacts you unexpectedly and asks for payment via gift cards, it’s likely a scam.
• Verify the Caller: If the caller claims to be from a legitimate organization, hang up and call the organization directly using a verified phone number.
• Never Share Gift Card Information: Treat gift card numbers and PINs like cash. Once shared, the money is gone.

Fraudulent Check Scams

Check scams often target senior citizens by sending them fraudulent checks that appear legitimate. Scammers may claim the check is a prize or a payment for a job. They ask the recipient to deposit the check and then send a portion of the money back to them. By the time the bank realizes the check is fake, the victim has already sent the money, which is often unrecoverable.

Tips for Avoiding Fraudulent Check Scams

• Be Cautious of Unexpected Checks: If you receive a check from someone you weren’t expecting, be suspicious.
• Verify the Source: Contact the issuing bank that sent the check to confirm its legitimacy.
• Wait for Confirmation: Before spending or sending any money, wait for the check to fully clear.
• Never Send Money Back: If someone asks you to send money back after depositing a check, it’s likely a scam.

What to Do If You Fall Victim to a Scam

1. Stop Communication: Cease all contact with the scammer immediately.
2. Report the Scam: Contact your bank and local law enforcement.
3. Monitor Your Accounts: Keep an eye on your bank and credit card statements for any unusual activity.
4. Consider a Credit Freeze: This can prevent scammers from opening new accounts in your name.

Who to Contact

• Contact your local banker to verify any suspicious communications.
• In most instances of suspected elder abuse and financial exploitation, contact Adult Protective Services by calling 1-800-677-1116.
• If someone is in danger or you believe a crime has been committed, call 911.
• For cases of identity theft, contact your local police and the Federal Trade Commission at 1-877-438-4338.
• For more information about common scams, visit: attorneygeneral.nd.gov/consumer-resources/common-scams/

Being in the know is the first step to protecting yourself from cyber fraud. Choice Bank is committed to providing you with up-to-date resources and tips to help you stay informed. Learn more at bankwithchoice.com/cybersecurity.

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