Scams are becoming more convincing, sophisticated and unfortunately, more common. Scammers call pretending to be your bank, a government agency, a family member or even a business or person you trust.
At Wolverine State Credit Union, we will do everything we can to protect our members. We want to help you recognize the warning signs before a scammer has the opportunity to take your money or personal information. Knowing what to look for can make a big difference!
Four Warning Signs of a Scam
- They pretend to be someone you know.
A scammer typically claims to be someone you know, like your credit union. They may even use a phone number or caller ID that looks legitimate. Don’t assume a familiar name or phone number means the person is real. If someone contacts you unexpectedly and asks for personal or financial information, STOP and verify who you are actually talking to. - They tell you there’s a problem – or that you’ve won something.
Scammers often create fear or excitement to get you to act without thinking. A few lines we often hear are:
-Your bank account has been compromised.
-You owe the government money.
-You’ve won a prize – but need to pay a fee to receive it.
Whatever the story, the goal is always to get you emotionally involved so you can act before you think. - They pressure you to act immediately.
Real organizations will give you time to verify information and make a decision. A scammer wants you to feel rushed because the more time you have to think, the more likely you are to recognize the scam. If you are feeling pressured to act immediately, that is a major red flag. When it doubt, slow down. - They tell you exactly how to send the money or what information they need.
Be especially cautious if someone insists you pay. Common scams involve sending money via cryptocurrency, a wire transfer, payment app, gift cards or sending you a check and asking you to deposit it and then send some of the money somewhere else. The check may later turn out to be fraudulent.
If someone is telling you exactly how to move your money – especially if they are telling you to keep it a secret – stop!
What should you do if you suspect a scam?
#1 – STOP! Don’t click the link. Don’t give your information. Don’t move your money. Don’t deposit the check. Don’t give them a verification code. Don’t let someone pressure you to act immediately.
Take a moment and verify the situation.
If someone claims to be from Wolverine State Credit Union, hang up and contact us directly using our phone number. Don’t call the number the person gave you or rely on caller ID. You can always stop in and talk to us face to face as well.
#2 – Talk to someone you trust. Sometimes, simply explaining what happened to a family member, friend or trusted financial professional can make the warning signs much easier to see.
#3 – Don’t wait. If you suspect you’ve already been scammed, don’t be embarrassed. Contact Wolverine State Credit Union as soon as possible. The sooner we know what’s happening, the sooner we can help you determine what steps come next.
Your money matters to us. We are your financial navigators, dedicated to helping you achieve your financial dreams.
