“The major trend we’re seeing is an increase in phone calls from individuals claiming to be from the police or family members, demanding that people purchase gift cards or claiming that their computers have a virus,” shares Lt. Mike Brooks with the Thurston County Sheriff’s Office Investigate Service Division. “While these scenarios may seem obvious to some, they often target older individuals or those who are more vulnerable. The suspects are becoming more demanding and argumentative, and people get scared and comply.”
Text message scams are also becoming more common and are particularly tricky. It’s easy to quickly read a text message and click on a link without even thinking.
“Scams that appear to be from ‘your bank’ are easy to fall for because people have an emotional response when it comes to their money,” shares Melissa Wood, AVP/Digital Services Manager for OlyFed. “The text might seem urgent, claiming suspicious transactions that require immediate attention. People often click the link without fully thinking it through.”
How to Spot a Scam
Melissa says there are several red flags to look for to identify scam messages, whether via text, phone call or email. Often, they pretend to be your financial institution. The key is to take the time to really read a message or listen to what the caller is saying, and avoid rushing into any action.
- They ask you to open a link you weren’t expecting.
- They use urgent or fear-inducing language.
- They send an attachment.
- They request personal info like PINs, passwords or social security numbers.
- They pressure you to log into payment apps or send money.
- Grammar and/or spelling errors are present.
- The phone number or email address seems suspicious.
“We’ve seen scams that ask if you’ve made a specific transaction, then try to gather more sensitive information like account numbers, debit card details or online banking credentials,” adds Melissa.
The most important thing to remember is that your bank will never ask for personal information via text or email!
If you suspect you have received a phishing email, text or call, contact your bank immediately using the number on their website or the back of your bank card. “We get calls from customers every day asking if a text or email they got is legitimate. Don’t be embarrassed if you’ve fallen for a scam – we deal with it all the time,” shares Melissa. “Scammers are experts at playing on emotions, making it easy to get tricked.”
Card Control: A Key Tool for Fraud Protection & Security
OlyFed has your back when it comes to helping you protect your precious assets. OlyFed Card Control is just one way they’re giving you fraud protection at your fingertips. As part of your digital banking account, this tool allows you to monitor your debit card transactions in real-time. See something you don’t recognize? You can turn your card off right away in the online banking or mobile app. Lost or stolen card? You can report that right in the app as well!
“You can even set up rules to limit where your card can be used or how much can be spent,” explains Melissa. “Personally, I love receiving alerts on my phone every time I use my debit card – I get notified before I even leave the store!”
SavvyMoney Offers Real-Time Credit Monitoring
Keeping an eye on your credit is another essential way to protect yourself from fraud – did someone try and open a credit card in your name for example? Identity theft is scary and happens every day.
OlyFed’s free credit monitoring tool, SavvyMoney, makes it easy for customers to view changes to their credit reports and receive alerts and notifications of pulls and new accounts opened. The reports are right inside your OlyFed digital banking account, so you don’t have to log into another website. See your current credit score, account summaries and credit inquiries.
“Never miss anything with real-time security updates any time your credit file changes,” shares Melissa. “This helps you keep an eye out for identity theft and catch it early, allowing you to take quick action to prevent damage to your credit and finances.”
Trying to buy your first home or that dream car? SavvyMoney also gives you tips on how to improve your credit score so you can achieve your financial goals.
Being Cautious is the Best Protection Against Fraud
The best way to avoid falling victim to fraud is to be cautious. If unsure, hang up, delete the message and call your bank directly!
Another common fraud tactic involves posing as law enforcement. “We continue to see an increase in scams where fraudsters impersonate law enforcement agencies,” shares Lt. Brooks. “These scammers call individuals, claiming to be affiliated with a local or federal law enforcement agency, and state that the person has a warrant or missed a court date. They then demand payment to resolve the issue. This is never legitimate. Law enforcement agencies and the court system do not and cannot clear warrants or missed court dates in exchange for money. Warrants are resolved through arrest and/or the court system assigning a new court date—not by paying a fine over the phone.”
Did we mention the best thing to do is do nothing? Do not answer unknown calls – if it’s important and legit, they will leave a message. When in doubt, call your bank or law enforcement agency directly. For Thurston County, the non-emergency number is (360)704-2740. This number is available 24/7, connecting you with a dispatcher who can verify any legitimate concerns, shares Lt. Brooks.
There’s a lot of fraud out there, but OlyFed is dedicated to helping you protect yourself and your assets. If you ever have questions, call us at (360)754-3400.
