How to Stay Safe from Scammers and Identity Thieves

3 Min. Read

How to Stay Safe from Scammers and Identity Thieves

Consider this: In 2021, the Federal Trade Commission (FTC) received 2.8 million fraud reports from consumers. Of the losses those consumers reported, more than $2.3 billion were tied to imposter scams—nearly twice as much as in 2020.

Unfortunately, the number of cybercriminals out there attempting to steal people’s personal information seems to be growing.

• It’s happening on social media when a fraudster pretends to be someone you know.
• It’s happening on websites when a hacker redirects you to an unsafe link.
• It’s even happening via email when someone poses as a company you do business with and asks for your account information.

Aside from the monetary losses caused by online scams, falling victim also has the potential to damage your credit score, hurt your chances of getting a loan, and put you on a long road to regaining financial security.

That’s why it’s so important to know the warning signs, protect your information, and act quickly if you believe your identity has been stolen.

What is an Online Scam?

Online scams vary widely and can take many forms. They can occur via email or text message, when browsing the web or shopping online, and over social media.

Take a deep dive into the most common tactics of cybercriminals in our article, Common Scams and Types of Fraud.

How to Spot an Online Scam

It’s not always easy to spot a scam, but there are red flags to watch for:

• Check the details. Phishing emails often contain inaccurate information, inconsistencies, or links that look like they don’t lead where they should.
• Examine URLs. Fake websites may have similar (but not identical) URLs to the brand they claim to be. Beware of form-jacking by double-checking the URL when you’re going to input your credit card information.
• Be cautious of urgency. Pop-ups or demands for immediate action or payment are usually scams. Never install software from these pop-ups.
• Use common sense. If an offer sounds too good to be true, it probably is.
• Know how companies operate. If a tech issue occurs, companies are unlikely to call you. When you encounter an issue, contact them using the customer support phone number on their website.

Learn how to protect yourself with smart habits and online safety tips in our article, How to Protect Yourself from Identity Theft.

What is Identity Theft?

Identity theft happens when criminals steal your personal or financial information and use it by posing as you or conducting transactions in your name without your knowledge. For example, an ID thief may charge items to your bank account or open a credit card or other fraudulent account in your name.

You may find fraudulent charges on your accounts, see new accounts opened in your name, or notice unusual activity on your credit reports. That’s why regular monitoring of your credit report is one of the best ways to detect identity theft early.

For steps to spot warning signs, read our article How to Spot the Warning Signs of Identity Theft.

What to Do If You Become a Victim of Identity Theft

If you suspect your personal information has been stolen, it’s important to act quickly. Start with IdentityTheft.gov, the federal government’s one-stop resource for identity theft victims. The site provides checklists, sample letters, and contact information to guide you through the ID theft recovery process.

Marine Credit Union also offers a clear, step-by-step guide: What to Do If You Fall for a Scam.

Marine Credit Union Makes Your Financial Security a Top Priority

At Marine Credit Union, your financial security is our top priority. We’re here to help protect you from fraud and identity theft through:

Education

We offer members free financial education courses through GreenPath, a financial wellness nonprofit.

Awareness

When threats occur, we notify members through our official social media channels and by displaying colored banners at the top of our corporate website.

Security

Consumer accounts at Marine Credit Union are federally insured up to $250,000 through the National Credit Union Association.

Learn more about Identity Theft and Security, and how Marine Credit Union can help you protect yourself from fraud. If you have questions about the security of your account, contact us for support.