Several scams are going around that could compromise your credit information and clean out your account. Here are five problems we are seeing and the solutions we have to avoid them.
Work From Home Frauds
The idea of making money from the comfort of your couch sounds appealing to just about everyone, but not every employer is legitimate. Victims have been contacted, interviewed and hired all online by these types of scammers. After completing a minor task like “secret shopping” the victims receive a check in the mail that represents an “excess payment.” Once the check is cashed at the victim’s financial institution the overpayment is sent to the alleged employer via Western Union or MoneyGram. Ultimately, the original check returns unpaid as a counterfeit and the victim incurs a loss.
Tip: Ask our credit union employees to verify the check before negotiating it.
Craigslist Crooks
If you’re trying to sell something quickly, going online to do it may seem simple but thieves are taking the exact same route to trick you into giving them your money. In this case, victims are sent a check for more than the amount requested. A buyer will contact the victim asking them to deposit or cash the phony check, and then send them the difference. Scammers might try to give an excuse like the difference is for a moving company to pick up and transport the item. Much like the work from home frauds, the victim is instructed to send the difference via Western Union or MoneyGram but the original check ends up bouncing and the victim is left with the debt and the item they tried to sell.
Tip: Never accept electronic payments for more than your agreed selling price.
Grandchild in Crisis
Scammers will pose as your family members then pull at your heartstrings to get your money. For example, thieves will pose as grandchildren in needing money wired to them immediately due to a car accident, arrest or emergency medical situation.
Tip: The perpetrator will often beg the victim not to tell anyone. Keep your credit union employee aware of the situation and we can help validate the information before you send the money.
Sweetheart Scam
Predators are now going after the young at heart looking for love on dating sites. A fake suitor will spend time getting to know an elderly victim online. Once trust has been established the scammer will claim a crisis that requires the victim to send money.
Tip: Never give personal information or money to someone that you have never met, regardless of how legitimate their profile may look.
Automobile Ads
Fake ads are enticing victims to have their cars “wrapped” with reputable companies’ logos. The offer typically includes a large up-front payment followed by monthly installments for just driving around in your car and displaying the ads. The scammers will send a check for more than was agreed upon and ask the victim to deposit or cash the check, then electronically send the difference to the graphic artist who will do the wrap. The directions tell the victim to mail the difference using Western Union or MoneyGram, however, the check winds up returning and no one shows up to wrap the car.
Tip: Never accept a check for worth more than was agreed on upfront and always let a credit union employee verify the check before depositing it.
Scammers are constantly looking for new ways to swindle you out of your hard earned money. Remember you can always bring your questions to Camino Federal Credit Union and we will try to help corroborate your transactions are legitimate and safe.