Fraud Protection 

Data Breach: The Ripple Effects of Data Exposure on Consumers

The recent breach at National Public Data has exposed over 2 billion personal records, leaving countless individuals vulnerable to identity theft, financial scams, and phishing attacks. This massive data leak has serious implications for those affected, from immediate threats like fraudulent credit accounts to long-term consequences such as damaged credit and emotional distress. Learn more about the risks associated with this breach and discover essential tips to protect yourself in our latest blog post.

Discover the Future of Fraud Protection: Biometric Security

In today's digital world, traditional security methods are falling short. Biometric security, using unique traits like fingerprints and facial recognition, offers a powerful solution. Our latest blog post, "Biometric Security: The Future of Fraud Protection in the Digital Age," dives into how this technology enhances fraud prevention in finance, e-commerce, and healthcare.

Stay informed and protected. Read the full article to learn more about the advancements and benefits of biometric security.

Emerging Threat: Deepfake Technology Scams

In an era where the distinction between reality and digital fabrication grows ever thinner, the emergence of deepfake technology stands as a formidable challenge, blending the art of deception with cutting-edge AI to create illusions alarmingly close to reality. This technology, once the domain of entertainment and harmless creativity, has morphed into a weapon wielded by scammers to perpetrate frauds that range from impersonating high-profile figures to manipulating public opinion. Our latest blog post, "Emerging Threat: Deepfake Technology Scams," delves into the depths of how deepfakes are being used to deceive and defraud, showcasing chilling examples such as a CFO being impersonated to swindle millions and the political arena being manipulated with counterfeit videos. As these scams proliferate, understanding and recognizing the signs of deepfake manipulations become crucial. Dive into our comprehensive guide to arm yourself against the cunning of deepfake scams.

Stay Alert for Scams: Spirit Financial Will Never Contact You to Request Personal Information!

At Spirit Financial Credit Union, we prioritize the security and privacy of our members. Scammers often target credit union members and bank customers through fraudulent phone calls, attempting to deceive them into revealing sensitive information such as logins and access codes. We want to assure you that Spirit Financial Credit Union will never contact you to request personal information over the phone. Your trust and security are of paramount importance to us.

If you receive a suspicious call asking for personal information, it is crucial to stay vigilant. Hang up immediately and do not disclose any sensitive details. Instead, contact us directly using trusted channels to report the incident. Our dedicated Member Service team is here to assist you and ensure the safety of your financial accounts.

Remember, protecting your personal information is a joint effort. We urge all our members to remain cautious, verify requests independently, and rely on official communication channels. Together, we can stay one step ahead of scammers.

BEWARE OF PHISHING

Phishing continues to top the list of scams we are falling victim to, with 300,497 complaints filed last year. Phishing, vishing, and smishing are all methods of identity fraud that differ in how a scammer contacts a victim – via email, phone, or text – with the goal of stealing personal or financial information. Other internet crimes topping the list include personal data breach and extortion.   

CRYPTOCURRENCY SCAMS

In 2022, investment scams were some of the highest dollar losses reported to IC3. Investment fraud complaints increased from $1.45 billion in 2021 to $3.31 billion in 2022 - a whopping 127% increase. Included in investment scams, cryptocurrency fraud rose from $907 million in 2021 to a staggering $2.57 billion in 2022, a 183% increase. This includes losses to cryptocurrency support impersonators. Crypto owners are falling victim to scammers impersonating support or security from cryptocurrency exchanges in record numbers. The Federal Trade Commission (FTC) provides consumers with tips to spot and avoid cryptocurrency scams.   

TECH SUPPORT FRAUD

Similar to what we mentioned regarding cryptocurrency, we’re also seeing a dramatic increase in criminals claiming to provide customer service, security, or technical support to potential targets in order to gain access to accounts or get other personal or financial information. Tech support scammers may impersonate legitimate tech companies offering to fix non-existent issues or renew fraudulent software or security subscriptions. They may also impersonate tech support from a credit union, bank, or other financial institution.

According to the AARP, tech support scams were the most often reported category of fraud against people aged 60 and older last year. IC3 reported that victims over the age of 60 lost over $724 million to these scams, with some losing their entire savings and even their homes. Tech scammers primarily use pop-ups, but also use text messages, emails, and robocalls to steal from victims.

TEXT SCAMS

According to the FTC, in 2022 there were $330 million in losses to text scams that were reported to the FTC’s Consumer Sentinel Network. This includes copycat credit union and bank fraud prevention alerts, fake package delivery problems, and fake Amazon security alerts among others. Click here to learn more about guarding against text scams.

Protect Yourself from Scams 

TRUST YOUR INSTINCTS

If something seems amiss, it probably is. Remember that scammers will often urge you to act immediately. Don’t fall for the “act now” bait.

DON'T RESPOND

Don’t answer calls, texts, or emails if you are unsure of who the caller or sender is. If it’s important, the caller will leave a voicemail. If you think a message might be legitimate, contact the person or organization via their official phone number or email, rather than replying directly to a sketchy text or email.

CHECK BEFORE YOU CLICK

Do not click on any links in emails or texts if you are not absolutely certain they are legitimate. Clicking without thinking can put your device’s security in jeopardy. If you simply hover your mouse over a link it will reveal the entire URL, which may help you determine if it is legitimate.

PAY WITH CARE

Use legitimate peer-to-peer payment apps, such as Venmo, Cash App, and Zelle carefully, and only with individuals you know.

NEVER SEND MONEY TO SOMEONE YOU DON’T KNOW

No matter what the claim, don’t fall for it.

NEVER SHARE PERSONAL OR FINANCIAL INFORMATION WITH SOMEONE YOU DON’T KNOW

Scammers will often try to bait you into providing information for identity theft purposes.

Report a Scam

If you feel you’ve been scammed, report it immediately. Tap to learn more about how to report a scam to your local and federal government officials. You can also report most scams directly to the FTC. Spirit Financial Credit Union members are also encouraged to report possible scams to Spirit Financial directly by calling or texting Member Services at (267)-580-0230 or by emailing memberservice@spiritfinancialcu.org.

Security Resource Center

Learn more about the tools available to Spirit Financial members that enable you to proactively safeguard your accounts.