October is cybersecurity awareness month, and it’s a great time to heighten your “fraud senses” to protect your family. As children and young adults navigate the challenges of managing money and gaining independence, they might not see themselves as potential targets for scams. By recognizing these tactics, you can help your family to better protect themselves from manipulation.
Social Media Scams
Scammers will catfish children and young adults, pretending to be unknown individuals trying to befriend them with the purpose of stealing their personal information or money. They may also target young bankers by posting fake surveys or contests that can trick them into giving out personal data.
Tip for spotting this scam: Set social media accounts to private so information and pictures are not easily accessible to scammers.
Cellphone Freebies
Scammers will lure children and young adults with “free” wallpapers, ringtones, gift cards or other items to get them to sign up for their services. However, they may try to get payment information for a processing fee or for shipping and handling, which opts them into expensive, hard-to-cancel subscriptions that young bankers don’t realize they’re signing up for.
Tip for spotting this scam: Avoid opting into free trials that require payment information upfront.
Online Auctions
Fraudsters will trick children and young adults into bidding and paying for items that never arrive. Alternatively, scammers will trick young bankers into sending in their items to sell before they’re sold or without an auction taking place. Once they’ve sent their payment or items, the auction will not take place, and the “representative” of the auction site will disappear.
Tip for spotting this scam: Research any auction site thoroughly, including reading previous reviews, making sure the site’s contact information is up to date and that you have the appropriate licensing.
Online Income Scams
Fraudsters offer jobs working from home for fast and easy money. After a quick hiring process, they’ll send a fake check to the young adult’s home and ask them to send a portion of the check back. Since credit unions are required to make funds available, it may be several days before the fake check bounces. By then, the scammer is long gone, and the young adult is required to pay back the money to the credit union.
Tip for spotting this scam: Walk away from any job offers that require you send back portions of your check or that ask for any money upfront.
About E-Central
As an employee of Northeast Valley Healthcare Corporation (NEVHC), you are eligible to join E-Central Credit Union, one of your employee benefits. Whether you want to learn more about your savings options or the best way to consolidate or refinance high-interest-rate debt, reach out to E-Central. Contact Sandra Mejia, NEVHC’s dedicated business relationship manager. She can be reached at 626.799.6000 ext. 1644 or
[email protected].