Fraud Prevention

Phishing scams involve the distribution of deceptive emails, messages or websites that appear to be from a legitimate source, like a bank or government agency, with the intention of duping individuals into divulging sensitive data, such as passwords or financial details.

Smishing is a form of phishing conducted via text messages. Scammers send deceptive texts that appear to be from reputable sources, in a similar attempt to convince recipients into revealing personal information. Fraudulent text messages will attempt to create urgency and coerce you to click on links or take action before carefully reading the message.

The tactics are similar to avoid falling victim to a phishing scam whether it comes via email or text message.

• Verify Sender's Authenticity: Always double-check the sender's email address or the source of the message. Be cautious of slight misspellings or unusual domains that don't match the legitimate organization.
• Exercise Caution with Links: Avoid clicking on links in unsolicited emails or messages, especially if they prompt you to log in or provide personal information. Instead, navigate to the organization's website by typing the URL directly into your browser.
• Don't Share Personal Information: Never share personal or financial information, such as passwords or credit card details, through text messages or via email. 

Although certain Ideal CU text message notifications are legitimate, you should always be cautious of the sender and use your best judgement before clicking links or responding. To confirm the validity of a text or email, contact us and speak with an Ideal CU Representative.

In romance scams, fraudsters create fake online personas to build romantic relationships with victims. Once trust is established, scammers ask for money, often claiming they need it for emergencies, travel or a variety of other reasons.

Above all else, never send money to someone you've never met in person, regardless of the reasons they provide. Scammers often use elaborate stories to elicit funds. Other tips to remember:

• Exercise Caution Online: Be wary of individuals who quickly profess love or affection in online relationships. Take time to get to know someone before sharing personal information or sending money.
• Verify Identity: If you have suspicions, perform online searches and reverse image searches to confirm the person's identity. Be cautious if they avoid video calls or face-to-face meetings.
• Stay Informed: Educate yourself about common signs and tactics used in romance scams. Awareness and vigilance are your best defenses against falling victim to such scams.

Phone scams are one of the top ways fraudsters scam people out of money. Sometimes their only goal is to steal your information — don't give it to them! Here are some ways to help protect yourself against phone scams:

• Never provide personal or account information to an unsolicited caller — If you did not make the phone call, you should NOT provide any information.
• If you receive a suspicious phone call, hang up and contact the company yourself using the phone number you know and trust.
• Review financial statements regularly to ensure all transactions are correct. If you have Internet account access, periodically review activity online as well.

If you believe you have given personal information to a scammer, contact your financial institution and the three credit reporting agencies immediately. Also, closely monitor your credit files and account statements.

Phone scams are one of the top ways fraudsters scam people out of money. Sometimes their only goal is to steal your information — don't give it to them! Here are some ways to help protect yourself against phone scams:

• Never provide personal or account information to an unsolicited caller — If you did not make the phone call, you should NOT provide any information.
• If you receive a suspicious phone call, hang up and contact the company yourself using the phone number you know and trust.
• Review financial statements regularly to ensure all transactions are correct. If you have Internet account access, periodically review activity online as well.

If you believe you have given personal information to a scammer, contact your financial institution and the three credit reporting agencies immediately. Also, closely monitor your credit files and account statements.

Impersonating the IRS or tax authorities, scammers contact victims via phone or email, claiming they owe back taxes and threatening legal action or arrest. They demand immediate payment or personal information.

Remember: The IRS will not contact you by phone or email to demand immediate payment. If you receive such a call or message, verify with the IRS through official channels.

Investment scams promise high returns on investments that are too good to be true. These can involve Ponzi schemes or fraudulent investments in stocks, real estate or cryptocurrencies. Be cautious of investment opportunities that guarantee high returns with little or no risk. Research any investment thoroughly and consider seeking advice from a financial advisor. Check for the proper licenses and registrations of the entity offering the investment.

Online shopping scams involve fake websites or sellers who offer products at incredibly low prices. Once you make a purchase, they may deliver subpar or counterfeit goods, or nothing at all. Avoid these scams by only shop from reputable online retailers, use secure payment methods and research the seller's reputation. Be cautious of deals that seem too good to be true.

Scammers inform victims that they've won a lottery or prize and ask for payment to claim the winnings or for personal information to process the prize. There is no real prize, and the scammer disappears with the money or information.

Always be wary of unsolicited notifications about lottery winnings. Legitimate lotteries don't ask for upfront fees or personal information to claim prizes.