Fraud Prevention

Be cautious. Be skeptical. Be informed.

Scammers are everywhere. They call you on the phone. They send emails. They send texts. Their goal? To get you to send money or reveal personal data that can be used in identity theft. The best way to block their efforts is to learn how to identify common scams. Remember - be wary of unsolicited communications, do your research and, when in doubt, consult with trusted professionals or authorities.

Watch for Ideal Impersonators

Ideal Credit Union will never ask you for your Social Security number, debit card PIN or any other personal information via email or text.

Although certain Ideal CU text message notifications are legitimate, you should always be cautious of the sender and use your best judgement before clicking links or responding. To confirm the validity of a text or email, contact us and speak with an Ideal CU Representative.

Phishing Scams

Phishing scams involve the distribution of deceptive emails, messages or websites that appear to be from a legitimate source, like a bank or government agency. The scammer's goal is to dupe individuals into divulging sensitive data, such as passwords or financial details.

Smishing is a form of phishing using text messages. Scammers send deceptive texts that appear to be from reputable sources in an attempt to convince recipients to reveal personal information. The texts attempt to create urgency and to coerce readers into clicking links or taking action before carefully reading the message.

To avoid falling victim to these types of scams:

Verify sender's authenticity: Always double-check the sender's email address or the source of the message. Be cautious of slight misspellings or unusual domains that don't match the legitimate organization.
Be wary of links: Avoid clicking on links in unsolicited emails or messages, especially if they prompt you to login or provide personal information. Instead, navigate to the organization's website by typing the URL directly into your browser.
Guard your privacy: Never share personal or financial information, such as passwords or credit card details, through text messages or via email.

Romance Scams

Some fraudsters create fake online personas to cultivate romantic relationships with victims. Once trust is established, scammers ask for money, often claiming they need it for emergencies, travel or a variety of other reasons.

Never send money to someone you've never met in person, no matter how persuasive they are. Scammers often use elaborate stories to elicit funds. Other tips to remember:

Exercise caution: Be wary of individuals who quickly profess love or affection in online relationships. Take time to get to know someone before sharing personal information or sending money.
Verify identity: If you have suspicions, perform online searches and reverse image searches to confirm the person's identity. Be cautious if they avoid video calls or face-to-face meetings.
Stay informed: Educate yourself about common clues that can help you identify a romance scam - and learn about scammer tactics. Awareness and vigilance are your best defenses.

Phone Scams

Phone scams are one of the top ways fraudsters scam people out of money or personal information. Here are some ways to help protect yourself:

Never provide personal or financial information to an unsolicited caller. If you did not make the phone call, you should not provide any information.
If you receive a suspicious phone call from a business, hang up and contact the company yourself using the phone number you know and trust.
Review your credit union and other financial statements regularly to ensure all transactions are correct. If you have Online Banking access, check your account regularly to make sure all transactions are legitimate.

If you believe you have given personal information to a scammer, immediately contact your financial institution and the three credit reporting agencies - Equifax, TransUnion and Experian. Also, closely monitor your credit files and account statements.

IRS and Tax Scams

Some scammers impersonate Internal Revenue Service officials or other tax authorities. They contact people via phone or email, claim the intended scam victim owes back taxes, and threaten legal action or arrest. They then demand immediate payment or personal information.

Remember: The IRS will never contact you by phone or email to demand immediate payment. If you receive such a call or message, contact the IRS through official channels to see if the agency is truly trying to get in touch with you.

Investment Scams

Investment scams promise high returns on investments that are too good to be true. These can involve Ponzi schemes or fraudulent investments in stocks, real estate or cryptocurrencies.

Be cautious of investment opportunities that guarantee high returns with little or no risk. Research any investment thoroughly and consider seeking advice from a financial advisor. Check for the proper licenses and registrations of the entity offering the investment.

Online Shopping Scams

These scams involve fake websites or sellers that offer products at incredibly low prices. Once you make a purchase, they may deliver subpar or counterfeit goods, or nothing at all.

Avoid these scams by shopping only from reputable online retailers, using secure payment methods and researching the seller's reputation. Most of all, be cautious of deals that seem too good to be true.

Lottery and Prize Scams

Scammers inform victims that they've won a lottery or prize and then often ask for a payment before you can claim the winnings. They may also request personal information to process the prize. In reality, there is no prize, and the scammer comes away with money or personal data.

Always be wary of unsolicited notifications about lottery winnings. Legitimate lotteries don't ask for upfront fees or personal information to claim prizes.