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How to Recognize and Avoid Scams


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October 30th, 2024
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According to the FTC, in 2023 Americans lost more than $10 billion to fraud. In today’s digital world, being informed about fraud is more important than ever. Scammers are constantly developing new tactics to deceive us and exploit vulnerabilities, and once you've been victimized it's often impossible to get your money back.

Read on for practical tips to help you recognize potential threats and protect yourself from fraud. By staying informed and vigilant, you can safeguard your personal information and financial well-being.

 

Be Aware:


  • Scammers are very convincing. It’s their job to trick you, and they’re very good at it.

  • Scammers can spoof legitimate phone numbers so your caller ID looks convincing.

  • Scammers can spoof legitimate websites to capture your login info.

  • Scammers will try to manipulate you into acting urgently, without taking time to think about or verify their request. They might tell you there’s something wrong with your accounts and you need to act quickly to save your money.

  • Your financial institutions will not call or text you and ask for your login info or your account or card numbers.

 

Ask Yourself (Red Flags):


  • Did they call or text you and ask for account or card info, or login info?

  • Was the contact unexpected or unsolicited?

  • Are they asking you to do something (versus just delivering information)?

  • Does the text message or email have bad grammar or misspellings?

  • Is the from email address legitimate or slightly misspelled? Pay attention to the details here. A scammer might very slightly misspell the name of the financial institution so that at a glance, it looks legitimate.

  • When you hover over links in an email, the web address the link is sending you to will appear in the bottom left corner of your screen. Is that url different than expected?

  • Was the email or text message sent at an odd time outside of normal business hours (2 am, for instance)?

  • Are they asking you to buy gift cards or cryptocurrency?

  • Did they send you funds for something and ask you to return a portion of them?

  • Is it too good to be true? Are they promising you unexpected income or winnings? Are they claiming to be a celebrity interested in a romantic relationship?

  • If you met this person online, have you ever met them in person or even video chatted with them? If not, then they are likely not real.

 

Do:


  • If you have any doubts at all, it’s best to hang up, discontinue communication, or avoid clicking links. Then call your financial institution or visit their website directly. It’s always safer to initiate the conversation yourself via an official phone number or website.

  • Do use multi-factor authentication whenever possible on your mobile apps or website logins.

  • Enroll in transaction text alerts on all your credit and debit cards.

    • Download Kalsee's cards app
    • Select "Notification Settings" from the menu icon in the top left
    • Select "Transaction Alerts"
    • Select "Notify me after each transaction"

  • Enroll in an identify theft and fraud prevention monitoring service, like Kalsee's IDProtect®.

  • Enroll in eStatements and online bill payments to keep sensitive information such as bank statements or checks out of your mailbox (scammers like to steal mail).

  • Notify Kalsee immediately if you believe you might have been the victim of fraud. If you believe your card(s) have been compromised you can also use our cards app to lock them.

 

Do Not:


  • Do not share your passwords, SSN, account number, or debit or credit card number over the phone unless you initiated the contact and are 100% certain of the recipient’s identity and legitimacy.

  • Text messages, social media messaging, and most email communications are unsecured. Never share sensitive info via these channels.

  • Be wary of clicking links in text messages. Do not enter login info on sites you've accessed from a link in a text message.

  • Do not load money into a 'secured wallet' at a bitcoin ATM at someone else's direction.

  • Avoid using your PIN number for debit card transactions, especially at machines you don't trust. You often have more protections on signature-based transactions.

 
Remember, staying informed is your best defense against scammers. If you encounter any suspicious activity or have questions, don’t hesitate to reach out for help. Together, we can create a safer environment for ourselves and our community. Stay vigilant and protect your personal information—your security is our top priority!
October 30th, 2024
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More to Explore

FTC Staff. “As Nationwide Fraud Losses Top $10 Billion in 2023, FTC Steps up Efforts to Protect the Public.” Federal Trade Commission, 9 Feb. 2024, www.ftc.gov/news-events/news/press-releases/2024/02/nationwide-fraud-losses-top-10-billion-2023-ftc-steps-efforts-protect-public.