Get Smart About Scams: Impersonation Scams

Welcome to Get Smart About Scams, presented by Educators Credit Union, where we’re dedicated to ensuring the safety of our members’ accounts. This audio series discusses the types of scams you may encounter online and in your daily life, how to spot them, and what to do if you think you may have fallen victim.

Today, let’s discuss impersonation scams. You’ve probably received impersonation scams many times already. Think a text message from the DMV claiming you have an unpaid fine or someone emailing you pretending to be Amazon, claiming your account has been locked. These fraudsters try to sound and look as official as possible to fool you and scare you into falling for the scam.

RED FLAGS OF IMPERSONATION SCAMS

1. They contacted you, instead of you contacting them.
2. There are misspelled words or incorrect grammar.
3. They’re asking you to move money in the form of cash, gift cards, crypto, a Bitcoin ATM, or a courier who will visit your house to pick up cash.
4. They create urgency around the issue and demand you send money immediately.
5. The claim they found information about you on the dark web and want ransom money.
6. They claim your financial institution is involved or is the cause of the issue, and you should lie to them or keep information from them. They may also tell you to keep them on the phone when you purchase gift cards or in case you need to visit your financial for a wire transfer.

COMMON QUESTIONS

What should you do if an impersonator calls you? Ideally, you shouldn’t answer any phone call from an unknown number. If you must answer, simply hang up once you catch on that the scammer is not who they say they are.

What should you do if you gave the impersonator any personal information before realizing they were a scammer? If you gave information such as your name, address or social security number, you should freeze your credit with all three credit reporting bureaus: Experian, TransUnion, and Equifax. If you gave any banking information such as your login information or card numbers and security codes, call your financial immediately to report the incident. They will help you lock down your account and cancel your cards. At Educators, you can quickly lock your cards using Card Management in Online and Mobile Banking before you call us. Informing your financial of the fraud is especially important if the scammer was impersonating the financial.

Lastly, folks: remember that gift cards are for gifts. They are not a valid form of payment for fees, fines, or services from a company such as Microsoft or Norton. If someone contacts you asking for payment in gift cards, hang up or cease communication immediately.

QUESTIONS?

Do you suspect you may have fallen victim to fraud? We are here to assist you every step of the way. Please give us a call at 262.886.5900. Take care and stay safe.

Insured by NCUA. Membership eligibility required.