Knowing When A Scam Is Occurring
In any situation…It’s good to trust your gut. You know that uneasy feeling you get? Don’t ignore it. Stop for a moment, breathe, think, and process the request. What is being asked of you?
Ask yourself these questions:
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Does it seem awkward?
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Does it make sense?
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Does it seem urgent?
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Do you know this person? How well?
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Are you being tugged at emotionally?
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Is it your problem?
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Would you ask this of someone else?
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Does it seem too good to be true?
These are often red flags and great indicators that it could be a scam. Here are just a few to consider:
Scenario 1
You’re approached at the drive-thru as you are using the ATM. Someone asks if you can cash a check for them. Either it’s after hours so they can’t go inside, or they say they’ve forgotten their debit card so they can’t access the machine. They even offer you payment for your troubles. Seems easy enough, right? The check will be deposited into your account; the funds will come out, making it even, and they’ll even give you a little extra! If you don’t stop and think, you may fall for this.
What’s really happening is that there are no funds to back that check up, and you are now out that money. In this scenario it’s not the financial institution’s fault because you personally accepted the check and deposited it. No one stole your credentials to complete this transaction and you acted of your own accord. When you transact on someone else’s behalf, you could be engaging in a fraudulent transaction, and you could be liable.
Scenario 2
Similar to the above interaction, the fraudster gets you to give them your debit card and PIN so they can do the transaction themselves. Seems crazy, right?! However, if it’s a good enough story and the request seems reasonable, people will hand their card right over. Now this person has direct access to your funds, which you may not even realize you gave them.
Scenario 3
This one has been around for some time, but it’s always good to have a refresher. Gift cards in lieu of payment. If at any time, a payment is requested through gift cards, it is a scam. This is not the same as having a gift card that you yourself have purchased or received as a gift from someone you know that you are choosing to use at a specific retailer. This is different. This is where you receive a text, call, or email you were not expecting asking you to pay a balance due, ransom, or cash assistance/donation in the form of a gift card. If you stop and think, this type of request does not make sense, is not a standard form of payment and is a scam.
Scenario 4
You may receive information that your Venmo, PayPal, Zelle, Cash App, Apple Pay, etc. has had fraudulent activity. Just like you would with any other financial payment service, stop and think. Does it make sense? Don’t simply click. Are you being asked to deposit more into the account to cover a transaction you didn’t make? Are you being asked to resubmit your account information? Log into the app and review your activity. Does it appear accurate? Verify that all looks good. Call customer service directly when in question.
Live Smarter
These are just a few to consider. There are new scams every day and old ones that pop back up. ALWAYS stop. Think. Look into it yourself. You can also call directly and speak with one of our friendly Member Service Representatives at 315-735-8571 or schedule an appointment. You are your own best defense.