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The ABCs of Fraud Prevention Many individuals may falsely believe that only the naïve and gullible fall victim to financial scams. Each day, fraudsters are developing more sophisticated tactics to trap unsuspecting consumers in financial fraud. EdFed would like to raise awareness of some of the most common scams perpetrated today and share our ABCs to help you protect yourself and detect potential fraud. A–Always Be Alert Always keep your ears and eyes open. Fraudsters are relentlessly developing new scams to solicit and obtain your personal, identifiable financial information. EdFed will never contact you for your password. We will not ask you to change your password to one that we provide. Our agents will never ask you for your one-time authorization code received through text. Remain alert and protect your information. B–Back Away Use caution whenever you receive a message online, by text, or via phone from unknown contacts. Immediately back away and take note of the details of the message. Fraudsters rely on you volunteering your personal information to help perpetrate fraud. C–Call the Credit Union Call EdFed's Loss Prevention Team at 305-270-5252 if you believe a fraudster has contacted you. By sharing your experience with EdFed, we can ensure that your account will be protected and secured. Common Scams to Look Out For Phone/Email Scams Fraudsters may contact you via text, phone, or email soliciting your account numbers and passwords; they may claim that your account has been compromised and request your personal information to help "protect" your account. These scams often use fear to perpetuate fraud. IRS/Government Scams Like other phone/email scams, fraudsters may contact you, claiming they are representatives of the IRS or other government agencies. These scams may attempt to collect funds owed to the federal government and apply pressure to make immediate payments. Emergency Scams A fraudster may call or send you a text message pretending to be a family member or friend in an emergency. They may ask you to wire money to help get them out of trouble. These scams typically target parents and grandparents. Employment Scams These scams are online job postings that appear to be an employer looking to fulfill a position. In an employment scam, the person is not looking to hire. The intention is to solicit your personal information to commit fraud. Bogus Debts You may receive a call from someone regarding a past-due bill in an attempt to collect a "debt." If you are a customer of the company being represented on the call, hang up and contact the company's published customer service number to validate the legitimacy of the suggested "debt." Please contact EdFed's Loss Prevention Team at 305-270-5252 to immediately report any activity as potential fraud. |
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