Summer Vacation Scams & Schemes

Welcome to Summer!  School’s out; now’s the perfect time of year to relax and vacation with loved ones.  Take time to enjoy the beautiful sunny beaches or make haste to that next destination to cross off your bucket list.  However, if you choose to spend your vacation days, ensure you don’t fall prey to those nefarious scam artists and fraudsters lurking about.  Often, we become MORE vulnerable during these relaxed moments, and we don’t stop to think of red flags or suspicious actions that alert us that something in the moment just isn’t right.  Each year, Americans lose millions in common scams that can be avoided if we practice healthy skepticism and proactive vigilance.  Here are some popular scams to prevent and protect your vacation fund and your life-long earnings and retirement!

Impersonator Fraud

Be wary of someone claiming to be a trusted person, such as your credit union’s fraud department, a family member, or law enforcement.  Fraudsters will appear highly credible.  A red flag to avoid in this situation is that a legitimate person will never ask you for your one-time passcode, online banking username, or password or demand payment via a phone call.

Phishing & spoofing attempts

Fraudsters and scammers often call or text from legitimate numbers.  They can also change the appearance of links and emails.  Use caution!  If the conversation sounds suspicious, end the call BEFORE giving out any personal information.  Call the company or individual back on a known number and report the fraud attempt.

Here are some ways to protect yourself if you suspect you have fallen victim to a fraudster or a scam artist.

• Change passwords on your email account AND your online banking accounts.
• Add verbal password phrases or words to your accounts for “call-in” or “in-person” requests.
• Monitor your various accounts activities monthly, at a minimum.
• Place a freeze on your credit report.  Links to the three credit bureaus and ChexSystems are below.
• Avoid reusing usernames that are like your email address or your name.
• Use a password keeper; don’t use the same passwords on your accounts.