Spot A Scam: Keep yourself safe with these fraud prevention tips

In recent years, there has been an enormous rise in identity theft and related fraud. To recognize Identity Theft Awareness Week from January 27-31 and Safer Internet Day on February 11, we’re sharing a variety of tips from the Opportunity Bank of Montana fraud prevention team on how you may be able to help keep your information safe from bad actors:

• Keep your personal information secure: Never give your date of birth, social security number, or bank account information out over the phone, email, text, or social media message. If a caller states that they’re from your bank and asks you to confirm where you bank, hang up and call your local branch.

• Check your messaging preferences: Scammers love social media! Consider setting your messaging preferences to only allow messages from profiles you are already connected with. If someone you do know sends a message asking for money or information, call them at a phone number you already have for them, and confirm that they sent the message. Social media accounts are frequently hacked, and scammers may pretend to be someone you know.

• Delete that text: Did you receive a text message from an unknown phone number asking you to pick them up or inviting you to dinner? These “wrong number scams” are designed to get you talking. The scammer will befriend you, then ask for your personal information, money, or offer to teach you about cryptocurrency or other investing. They may even offer to send you money to get started, however the check they send will be fraudulent.

• Beware of pop-ups: Do not click on, respond to, or call phone numbers in emails or pop-ups from retailers or software companies claiming that your computer is infected, there are charges on your account, or an unfamiliar subscription has been renewed. Always call your bank to verify if a charge has been made to your account. These messages are designed to trick you into calling the fraudsters.

• When in doubt, hang up your phone: If someone tells you to take your money out of your bank account because you or your account are being investigated for any reason, hang up the phone! Scammers pretend to be government agents, bank employees, or both. Remember, a bank will never tell you to take your money out to keep it safe, nor will law enforcement. Call your local branch directly to confirm any details provided.

• Pay attention to data breaches: If you receive a notice that your information was leaked due to a data breach, take advantage of the identity theft and/or credit monitoring offered by the company. Freeze your credit with all three agencies, check your credit reports, and be attentive to calls or letters from banks, credit card companies, and utilities stating that you have new accounts there. Our Credit Sense tool monitors your credit report daily and informs you if there are any big changes detected such as: a new account being opened, change in address, or an inquiry has been made. Monitoring your credit can help you keep an eye out for identity theft. This tool is available for free in our mobile app and online banking. 

• Watch out for fairy tale scenarios: Profiles of people you don’t know that send you messages on social media are likely scammers or bots. They want to steal your money, even if they offer to send you money first. Scammers will play the long game, talking to you for months or even years before asking you for money, or telling you that they need your help to receive money. Scammers like to use fairy tale scenarios to make us think we are special, get us to let our guard down, then steal our money.

• And don’t forget to pause: The best way to defend yourself against identity theft is to “practice the pause.” If someone calls you claiming to be from your bank, pause and ask yourself if the questions they are asking make sense. If you get an email from someone claiming that there are charges on your account, pause. Would your bank email you from a Gmail address? Would Microsoft know that you had false charges on your bank account? If an offer seems too good to be true, pause. Ask yourself if you are being pressured to act quickly or to give out information that could harm you. If you are being told that you are going to be arrested or investigated, it’s a scam. If they tell you that you have to pay money to get a prize, grant, or inheritance, pause. Taxes are paid after cash prizes are received or during the payout, not before.

Remember, Opportunity Bank of Montana staff will never initiate a request for sensitive information from you, including your:
• Social Security Number
• Username and passwords
• Account information
• Full card details or PIN

If you recognize any of the signs above and gave out information or sent money to an unidentified source, call your local branch right away.

Reporting Identity Theft:
The Federal Trade Commission offers a website, IdentityTheft.gov, to help victims report and recover from identity theft with a personalized recovery plan. The portal walks users through recovery steps for more than 30 types of identity theft.