Scam Alerts
NEWEST SCAM- SPECTRUM SCAM
There is a new scam affecting our members. The person on the phone is claiming to be from Spectrum offering a deal on your plan. Part of this plan is a DVD player. All you have to do is pay $49.99 for the DVD player and you will get a new plan with great savings. They require a credit or debit card number to charge the $49.99 to. The scammers then use your card information to make other charges. Spectrum will never call you! If you get a call from Spectrum, it is a scam. Just hang up! If you ever get a call from someone you are not sure about, hang up and call the credit union. We are here to help!
The top 10 scams:
1. Social Security number phishing
2. Free money
3. Amazon and package deliveries phishing
4. Computer tech support
5. Phony relationships (not grandchild)
6. Debt collection
7. Online classified listings
8. Extortion emails
9. Grandchild imposter
10. Bank/financial institution phishing
1. Social Security number phishing
The scam: You receive a phone call (usually a robocall) stating that there has been criminal or fraudulent activity involving your Social Security number. The scammer may also claim to be a government agency or law enforcement, threatening arrest, or serious consequences. The scam often begins as a robocall.
How to spot the scam: If Social Security (or any official agency) wanted to contact you, they would not call to ask for your personal information, especially your Social Security number, over the phone. These agencies mail communications and would never threaten you for information or payment over the phone.
What to do: Be wary when responding to unsolicited contacts and never provide personal information to unknown contactors, especially over the phone.
2. Free money
The scam: You receive a phone call, email, or mailing that claims you have won money or a prize—but there’s a catch: you have to pay money upfront for taxes or fees. Sometimes the
outreach includes a realistic-looking fake check. The check bounces and no “winnings” are ever dispersed. Often, they claim to be Publishers Clearing House. Scammers may also claim
to offer government grants or stimulus money, getting in touch via social media. How to spot the scam: If you actually win a major prize from Publishers Clearing House, they will contact you in person. For smaller prizes (less than $10,000), winners are notified by overnight delivery services (FedEx, UPS), certified mail, or email in the case of online giveaways. They never make phone calls. An unsolicited check in the mail from an unknown sender is usually a scam.
What to do: If it sounds too good to be true, then it’s not true. Never pay an upfront fee to receive winnings or a grant. If you win something, they will pay you – not the other way around. No actual contest or sweepstakes would make you pay first to receive money.
3. Amazon and package deliveries phishing
The scam: An automated phone call or email claiming that your credit card has been charged by Amazon or that you have an outstanding balance on your account. The scammer instructs people to call them to get a refund or resolve the charge, at which point they request your card number and attempt to gain remote access to your computer. You might also receive a text message or email claiming that you have a package, but they need to verify your information.
How to spot the scam: Amazon will not call you unless you request that they do so. If you have legitimate concerns about your Amazon account or other accounts, contact the company directly through a trusted contact, such as through the customer portal within your account.
What to do: Hang up the phone and do not call back. Furthermore, you should not allow remote access to your computer to unknown parties. If you are concerned about charges made to your credit card, contact your credit card company directly. Don't click any links or reply if you receive a text regarding a package delivery.
4. Computer tech support
The scam: A phone call or pop-up message on your computer claiming to be from Microsoft, Apple, or another well-known tech company. They will say there is a virus or other problem with your computer and try to persuade you to give them remote access to resolve the issue. They may also ask for immediate payment for their services.
How to spot the scam: Legitimate customer service information usually won’t display as a pop-up. Companies like Microsoft, Apple, and Google do not call you to notify you of malware on your computer.
What to do: Never provide remote access to your computer to a stranger or click links from an unknown sender in an e-mail or pop-up message. If you get a call from “tech support,” hang up. Also, be careful when searching for tech support numbers online. Some users have been scammed by calling illegitimate numbers for legitimate companies.
5. Phony relationships
The scam: There is a wide variety of phony relationship scams. Sometimes, the scammer pretends to be someone you know, like a love interest, friend, relative, or even a religious leader. They typically reach out to you online or on the phone, claiming to need money. How to spot the scam: They ask you to send money immediately, often in the form of wire transfers or gift cards. If you met the person online, but they refuse to video-chat or talk on the phone.
What to do: If they claim to be someone you know, call the person using a verified phone number. If you receive a suspicious email, be sure to double-check the email address. If you’re feeling suspicious, get the real story and talk to someone you trust. Cut off communication with the scammer. If you receive an email from a friend or coworker asking for money, do not send money. Be sure to call that person directly—it’s most likely a scam.
6. Debt collection
The scam: Scammers pose as debt collectors or law enforcement and say legal action will be taken against you if you don’t pay them what you owe. Some may claim to be familiar
with businesses or the government, such as utility companies or the IRS. How to spot the scam: If you did owe a debt, collectors are not allowed to threaten you with arrest over the phone. You can request verification of the debt, which has to be sent to you in writing. If you ask them to stop calling you, they are generally required to stop.
What to do: Hang up the phone, and if they call again, let the call go to voicemail. If you think you do actually owe money to a debt collector or other agency, make sure you call using a trusted number.
7. Online classified listings
The scam: Sometimes the scammer responds to a seller’s post, overpays with a check, and asks for the remainder to be wired back. Sometimes the post is for a fictitious rental property and the scammer is looking for the deposit and first month’s rent to be sent immediately. Scams even happen when you are looking for that perfect puppy or pet to expand your family, but the transport of the animal is supposedly held up at the airport or elsewhere.
How to spot the scam: If you feel suspicious, stop the sale or purchase. The scammer may ask you to wire them money, send a bank transfer, or pay using gift cards. They may not want to talk on the phone or meet in person. Remember, you should not provide a rental deposit before signing the lease or contract in person.
What to do: Complete your transactions in cash and preferably in person. If they refuse to meet in person or talk on the phone, ignore them, and end communication.
8. Extortion emails
The scam: You receive an email that threatens exposure of compromising home video and photos unless you pay, usually in Bitcoin. The email claims you have been hacked and may reference a current or former password you may have used. The sender claims that they have access to your computer and webcam and threatens to release embarrassing photos
and video unless you send them money. How to spot the scam: The scammer is using scare tactics to make you act fast. Don’t take the bait! The email message will often include threats and hurtful language.
What to do: Do not reply to the email or click on any links or attachments included in the message. Do not send money. If you find that your current password is listed in the email, change your passwords from another computer and run virus scans. Delete the email or add it to your spam/junk folder.
9. Grandchild imposter
The scam: Scammers pose as grandchildren and claim to be in serious trouble, such as in prison or at the hospital. They urgently request money in the form of wired funds or prepaid gift cards. They may also claim that their voice sounds unfamiliar due to injury. After the initial call, they may claim you will be hearing from an attorney or officer.
How to spot the scam: Call your grandchild or family members on known phone numbers to ensure your grandchild is safe.
What to do: Never wire or otherwise send funds unless you can verify the emergency. Take it slow and contact someone you trust.
10. Bank/financial institution phishing
The scam: You receive an email or phone call claiming to be from a bank. Emails might claim that your account is in danger or has been suspended, or that your card is on hold due to suspicious activity. The email also includes links to phony websites. Phone calls may claim that there has been fraudulent activity involving your account, and the scammers demand personal information about you and your account.
How to spot the scam: Scammers mask their actual identity by changing the sender's name to the name of the financial institution. Look at the email address before opening the email. You will often find an account not affiliated with your bank. Similarly, scammers can spoof the phone numbers of financial institutions. If you answer a call that appears to be from your bank and they ask for your personal and/or account information, hang up and call your bank directly on a number you trust to verify their attempt to contact you.
What to do: Do not reply to the email or click on any links or attachments included in the message. If you receive a call, hang up the phone. To correspond directly with your bank or financial institution, using verified contact information, such as information listed on your statement.
Other scams to watch out for:
Coronavirus, Vaccine, and Government Program scams
Unemployment scams
Travel scams
If you are ever in doubt, please call the credit union!
Source: BURLINGTON – VTAG 3.1.2021
Scam Alert
There are so many scams out there these days (Microsoft, Social Security). Please do not give out any of your information to someone you did not initiate contact with. When these scammers call you or reach out via the internet, they will sound convincing and legitimate but please do not fall for it. If you have any doubts, please call the credit union for help.
Debit Card Pin Requirement
Due to the recent amount of fraud our members have experienced with their debit cards, Teachers Credit Union is now requiring debit card users to use their pin numbers at certain locations. Debit card users will now be required to use their pin number at any variety store. A variety of stores would be places like Walgreens, CVS, and any Dollar Store. If you are declined with your debit card when doing a signature-based transaction, try doing a pin-based transaction instead. Please keep this information in mind when you are shopping and plan accordingly. We hope this change will decrease the amount of debit card fraud being experienced by our members. Please feel free to contact us with any questions.
Notice to all Debit Card Users
Many gas stations in the area do what is called a pre-authorization for $1.00 when you pay at the pump. They do this to verify that your account has a certain dollar amount in it so they can guarantee payment. Now there are gas stations that pre-authorize larger dollar amounts. The credit union has seen some pre-authorizations for $91.00 and even $100.00. The problem with these pre-authorizations is that they cause a hold to be placed on your account for the amount of the pre-authorization for up to three days. That means that up to $100.00 or more could be held on your account and unavailable to you for up to three days. The credit union has no control over this process. What the credit union recommends is that you ask the gas station what dollar amount they pre-authorize before you pay at the pump. They should be able to tell you. If they can not verify the amount, then we recommend that you go in and purchase the gas rather than pay at the pump. This hold only occurs when you pay at the pump. We realize that it is more convenient to pay at the pump, but it may save you headaches later if you do pay inside.
Common Scams That Target the Elderly
Sadly, some dishonest people have focused their attention on senior citizens. Taking advantage of fear, hope, and trust, these scammers defraud thousands of older Americans each year out of much-needed cash. If you receive a call, letter, or a personal visit from anyone claiming the following, chances are you’ve been contacted by a rip-off artist. “You need a new roof” Many cons target older Americans because so many seniors are homeowners. It usually begins with a spontaneous visit from a “contractor.” He/she will offer a special repair deal for seniors, a free inspection, or he/she noticed something terribly wrong with your home that needs urgent attention. If you take the bait, you’ll likely be charged exorbitant fees to fix something that needs no fixing, the job will be done shoddily or not at all, or the price of the repairs will increase dramatically in the middle of the job. Before hiring someone to work on your home, ask to see his contractor’s license number and check it with your state’s Contractors License Board. Get at least three other bids before making a final decision. “I can get you a loan for that new roof” If you need to finance those home repairs (or pay for property taxes, medical expenses, etc.), watch out for predatory lenders who target older Americans. These businesses have a way of finding cash-strapped homeowners, offering home equity loans that come with outrageously high-interest rates, unnecessary fees, and unreasonable repayment terms. Be extremely suspicious of loans that are marketed to people with bad credit, offers that are only good for a very short time, telephone applications, next-day approval with immediate payment, or having to pay upfront fees to cover the first payment and other expenses. Avoid doing business with salespeople who initiate contact: reputable lenders rarely solicit business over the phone or in person. If you really need a loan, contact your financial institution. “We can fix your bad credit” Preying on many seniors’ desire to maintain good credit, some scammers promise to erase negative items from a report—for hundreds of dollars. However, no matter what the company advertises, bad credit cannot be magically transformed into good credit. The only real way to improve your credit rating is through time and effort: pay what you owe; keep your balances down, and use credit responsibly. The cost of real “credit repair”? Free. “You’re a winner!” Get a call or a letter saying that you have won a prize, but in order to claim it, you need to send money to cover a shipping or handling fee or pay for taxes upfront? Nonsense. You don’t have to pay for something you’ve won. As much as you want to believe that Lady Luck has finally paid you a visit, with an offer like this she probably hasn’t. To be a real winner, toss this “award” in the trash. “I can help you recover your loss from the win that never was” A particularly vile scheme is one that targets seniors who have already been swindled. Called recovery scams, a con typically poses as a government agency representative who is working on your case. A large sum of cash (which must be wired or sent to him immediately) is needed to conduct the investigation. To earn damaged trust, he may even provide phone numbers for the Better Business Bureau or other consumer agencies (which are false, of course). Oh, and how did he/she know you had been ripped off? He/she either bought your information from the con that took your money or was the original swindler. Remember, no genuine FBI agent, police officer, or any other law enforcement agent will ever ask for payment to do their job. “I want to help you pay your bills” Or do they want to help themselves to the money in your checking and savings accounts? Certainly, some seniors need assistance managing their financial affairs. If you do, be highly selective with the person you choose to help, particularly if he or she suggests (or leads you into suggesting) becoming a joint account holder. That person will have as much power as you do to withdraw funds and can arrange to inherit every dime in the account at your death. Get professional, objective legal advice before letting anyone have this kind of power over your finances. “This seminar will change your life” Yes, it probably will—by making you a lot poorer. If someone you don’t know invites you to attend an investment or estate-planning seminar (often with a prize just for coming), stay home. These are often bogus operations that market heavily to retirees wishing to prepare their estate or increase a fixed income stream. Slick-talking salespeople convince attendees to divulge personal information that they will later use, or sell expensive but worthless products and services. The bottom line: if you would like to take a class, go to your local community college or university; if you need investment advice, visit a reputable financial institution or brokerage house; and if you want to set up your estate, see an attorney. Before doing business with anyone, contact the Better Business Bureau to verify that they are legitimate. If you’ve been scammed, report the crime to the police and the Federal Trade Commission. Nobody enjoys admitting they’ve been taken, but it is important to take action to stop these people and companies—before they cheat other senior citizens out of a lifetime of earnings.
Resources
Better Business Bureau
703-276-0100
www.bbb.org
Federal Trade Commission
877-382-4357
www.ftc.gov
How to Protect Yourself From Credit Card Fraud
In the modern world, almost everyone holds a credit card. Reportedly, 7 in 10 Americans have at least one credit card and there are 364 million open credit card accounts in the U.S. as of November 2018.
The reach and popularity of credit cards have made them a major target of fraudsters out there. Many fraud schemes target credit cards, such as skimming (copying the credit card details electronically and duplicating the card), card theft, identity theft, phishing, vishing (voice phishing), card not present fraud, etc. Here is how you can protect yourself from these credit card scams:
Types of Credit Card Frauds
As mentioned earlier, there are some credit card frauds of which you should be aware. The most “straightforward” of them all is card theft. When you order a new card upon the expiry of your existing one, someone may steal the new card from your mailbox. Similarly, if you lose your card, an unscrupulous person may get his hands on it and may take advantage of your credit. Card ID theft happens when the fraudster comes to know the details of your card and tries to use those details to charge it. Phishing is a scheme by which the scammer takes credit card details from unsuspecting customers. It’s an online system wherein the perpetrator, posing as a legitimate entity, captures your credit card number, expiry date, and CVV number. Vishing (voice phishing) is similar, but here someone pretending to be from the bank or the credit card company calls you to get more information about your card. Card, not present (CNP) fraud happens when the perpetrator uses your CVV number to pretend he is in possession of your card. Merchants use the CVV number when you make online purchases to verify that you are in possession of your card. This verification is not required for in-store purchases. But if the fraudster somehow finds out your credit card number and expiration date, he can try to find the three-digit CVV number by trying various number combinations; he may have to try 1,000 different combinations before he succeeds. Credit card skimming is a fraud scheme in which a modified POS machine is used to capture your card details. The details are then used to create a duplicate card that can be used to charge your card. The fraudster who wants to withdraw money using your card may even install a spy camera in an ATM to capture your PIN.
Protecting Yourself From Fraud Schemes
Do not be afraid of these schemes. If you are careful enough, nothing will happen to your credit. There are a few precautions that you can take to protect yourself from fraudsters. Here are some of them.
Never Share Your Credit Card Details
Genuine agents from banks or credit card companies will never call you and ask you for the credit card number, expiration date, or CVV number as part of any verification process. You should know this information well and never divulge it to anyone online or offline. Always ensure that you type in your bank URL on the address bar of your browser, rather than clicking a link on a mail you receive. Phishing perpetrators usually set up a website that looks similar to your bank’s website to fool you into giving your credit card details. You should look at the address bar and ensure that the browser verifies the site’s security certificate. In Chrome, it should say “Secure” with a green padlock in the address bar. Without ensuring the authenticity of the site, do not put in your credit card details.
Keep Checking Your Account
Rather than checking your monthly statement for any anomalies, you should keep checking your credit card account online once a week and ensure there are no unusual transactions. Small charges also shouldn’t escape your scrutiny. Small charges on your account may well be an indicator that someone is trying to test your CVV number. Be vigilant and ensure you inform your bank about any unusual charge you find.
Never Let Your Card Go out of Your Sight
When you are giving your card for payment, ensure that it is still in sight. Do not give your PIN to anyone; rather, insist on typing your PIN yourself on the POS machine. It may be difficult for you to check whether the POS device used by the merchant is genuine or can skim your card. But if you think anything unusual is happening, take your card back.
Check Your Credit Report
You are entitled to a free credit report every year from Equifax, TransUnion, and Experian through AnnualCreditReport.com. You can use this to verify if your identity has been used by someone else to make transactions. The credit report will give you detailed evidence of any fraudulent activities in your name. To protect yourself better, you can initiate a fraud alert with your credit bureau, so that the banks or creditors are informed every time a credit request comes in your name. You need to initiate the fraud alert with only one of the agencies; the other two will receive automatic notifications.
Check Where You Swipe Your Card
There are many skimming methods to steal your card information; some attach a skimming device inconspicuously to the ATM. Gas stations, department stores, etc., also may have compromised POS machines with the skimmer placed on them. Usually, the skimmer on a POS machine can be detected if you look carefully for any unusual projecting parts. There are also some YouTube videos that can help you identify a skimmer at any POS. You might say it pays to be paranoid in today’s world full of crooks and thieves. In the case of credit cards, the main issue is their prevalence. Almost 72% of people have them, but only a fraction understand the technology and its vulnerabilities. If you are more careful with your credit card, you can avoid scams easily.