How to Avoid Falling Victim to Money Scammers

Over the past several weeks, banks across the country have seen an increase in fraudsters trying to come up with new ways to steal from people. There are no boundaries for scammers who are all after one thing: Money. As a reminder, here are a few tips and things to look out for so you don’t fall prey to a fraud money scheme.

Many times, these criminals will try to convince their potential victims to do what they want by using either fear or hope. Their messages will say things like:

If you don’t do this QUICKLY, something bad will happen! (or) If you don’t do this QUICKLY, you will miss out on something good!

Examples of scam tactics using FEAR:

  • Something is wrong with your computer
  • Your Medicare is about to be canceled
  • You owe money to the IRS and are about to be arrested
  • Your child has been in a car accident
  • Your grandchild is in jail

“To fix it, all you need to do is send money!”

Examples of scam tactics using HOPE:

  • You have won a sweepstake drawing
  • You have sold your item online for more than you thought
  • You have found an item for sale online that is WAY underpriced
  • You have an investment opportunity that will bring huge results
  • You can find your soulmate – we just need a little help first
  • You have a unique opportunity to earn money fast

Remember, when someone calls or emails you, the burden of verification is on them and NOT on you. 

Things NOT to do: 

  • Give out information without confirming your identity
    “I’ll call you back on (the official number).”
  • Send money via Western Union or Gift Cards (except in the case of Christmas gift cards)
    Other options are available, ask your bank
  • Cash/Deposit a check and then send proceeds back to the remitter
    Visit with your bank about the transaction
  • Allow someone you have not verified to guide you to a website and/or link
    No one will call you to work on your computer without you first calling them
  • Click on links in emails unless you have verified the sender
    Go directly to the website if it claims there is an issue
  • Assume the person on the other end of the phone/email/message is telling the truth
  • Trust that Caller ID to tell you who is on the other end

Things to ALWAYS do: 

  • Review your monthly bank and credit card statements
    Call your bank or card issuer about any questionable charges
  • Ask your financial services provider for help and guidance
    They have seen it all.
  • Talk to your peers about scam attempts
    You may save someone from losing money!

If someone takes money out of your account without your authorization, report it in the proper timeframe and you will get your money back.

If you authorize the money to be taken out or take the money out and send it to someone you later find out is scamming you, then you are responsible.

Farmers Bank & Trust is always here to help you make sure your money and information are protected and safe.

To Us, You’re Family! 

To visit our website with resources on fraud alerts and social media/online security, click here.

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