TheWaveMarch2023

THEWAVE F L O R I D A C R E D I T U N I O N Florida Credit Union is partnering with the Gators for the 2nd annual Beyond the Arc fundraising campaign to benefit the Education Foundation of Alachua County! The cornerstone of financial institutions is gaining and maintaining the trust of their members, but what happens when scammers exploit this trust? As technology advances and mobile banking becomes the norm, scammers are creating more sophisticated schemes to steal the hard-earnedmoney of unsuspecting consumers. However, there are ways to protect your financial future and steer clear of suspicious characters looking to take advantage. Keep reading to learn more about the more common scams, tips for identifying and avoiding them, and what to do if you suspect fraud. The Most Common Phishing Scams With the average American having about 27 password- protected accounts, it is impossible to keep your information private on the internet. Luckily, the best tool against phishing scams is knowledge. Hackers and identity thieves favor a few common scams you should be aware of, including emails, texts, or calls with suspicious links and keyloggers. A keylogger is a typically malicious program used to record keystrokes during regular computer operations unbeknownst to the user. How to Identify These Types of Fraud Stop fraud in its tracks and protect your financial health by staying vigilant and learning to identify scams as soon as you encounter them. Scammers often use similar methods to trick their victims, and you don’t have to be a computer whiz to keep them out of your accounts. A few of the oldest tricks in the book include: • Scammers posing as your credit union • Unexpectedly being asked for personal information • Getting a text, call, or email from your “credit union” claiming there’s suspicious activity on your account • Messages coming from an unusual sender • You’re encouraged to act on information urgently Avoid Becoming a Fraud Victim: Prevention Tips It’s important to remember that your financial institution will never ask for passwords or your social security number. If you receive a text or call requesting sensitive information, someone is likely trying to gain access to your account illegally. In addition to not typing your login information into untrustworthy links, you should also ensure that all your passwords for different accounts are unique. If a hacker gets the password to one account, you don’t want them to be able to use the same password to access all your other accounts. Reduce the risk to your bank account and use a solid prevention strategy that involves unique passwords longer than 16 characters using both numbers and letters. (Continued inside) Fraud Prevention: How to Recognize Scams & Avoid Becoming a Victim of Fraud M A R C H 2 0 2 3