If you have been following news reports the past few days, you have likely heard about the ongoing Russia/Ukraine conflict. You may have also heard about possible financial cyber scams coming from Russia.
Rest assured, VFCU’s online banking software is secure and is our top priority. As always, we are paying close attention and are making every effort to keep our members informed and aware of any new financial developments.
Please be aware of scams that may request personal information or wire transfers on behalf of our credit union. You can prevent a cyber scam by not divulging your email, passwords, etc., to anyone.
Read the following information to make sure you stay cyber-safe.
What are Common Fraudulent Acts?
Before we delve into the different ways you can avoid becoming victim to fraud or a scam, let’s first explore a few types common in today’s financial field:
- Credit Card Fraud – Is the unauthorized use of credit and debit cards to illegally obtain funds or property.
- Fraud Against Seniors – Senior citizens should be especially aware of fraud schemes targeting their lifestyles and savings. Fraudsters take advantage of seniors as they are less likely to be familiar with how numerous schemes work.
- Internet Fraud – Involves the use of Internet services or software to defraud victims or to otherwise take advantage of them.
- Investment Fraud – Consists of groups making offers using false claims to seek investments or loans to use or trade counterfeit securities.
- IRS Income Tax Return Scams – Involves scammers pretending to be the IRS in order to access your personal information.
Keep a Lookout
While there are many types of fraud to be aware of, the above-mentioned are seen far too often. The best way to avoid becoming a victim is to remember that banking institutions and U.S. government departments would NEVER:
- Request payment by gift card, wire transfers, etc.
- Threaten to cancel your social security benefits.
- Threaten you with immediate law enforcement or legal action.
- Contact and threaten you by phone, email, instant message to make a payment.
Make Your Security a Priority
Be on the lookout for suspicious activity and keep this information in mind. There are several ways to report fraud or scams to the U.S. government. If you have any questions about financial fraud or our services, then contact our credit union in Brownsville today!