Our Top 10 Most Commonly Reported Scams
The Credit Union’s Top 10 scams
At American Airlines Federal Credit Union, we see scams of all shapes and sizes. Scammers take advantage of people looking online for items, services, friends and romantic partners, often via dating websites, apps or social media. They pretend to be prospective buyers, sellers and companions. Scammers play on emotional triggers to get you to provide money, gifts or personal details.
They take advantage of the period of time between a deposit transaction into your account and the funds being available as opposed to actually clearing. They may give you a deposit of some sort and ask for a portion or all of the money to be sent elsewhere.
You may be asked to send a cashier’s check, money order, electronic payment or wire. A telltale sign is a request for gift cards, money gram or Western Union. All of these methods make funds difficult or impossible to recover once sent out.
Here is the latest list of Top 10 scams experienced by Credit Union members in 2018.
- Work Scam You’ve got the job, now give us account log-in information, personally identifiable information so we can pay you. You may be asked to disburse money to other accounts as directed.
- Social Media Scam An online friend you have not met in person is asking for help because they can’t access their own funds. This usually consists of cashing a check for them through your account.
- Romance Scam A loved one you communicate with via the internet has fallen on hard times and needs money ASAP. The funds often need to be sent overseas.
- Loan Scam You think you’re applying for a loan online. You are asked for your online access information (log in and password). You may even receive funds, only to have the transaction reversed leaving your account negative.
- Elder Exploitation A member over the age of 65 is being influenced by a trusted friend or family member. This financial influence is used to the elder’s financial detriment and the exploiter’s benefit.
- Card Cracking A member is offered money to allow transactions to be made through your debit card using the ATM.
- Sales Scam Usually originates online. A member receives a check for the sale of an item, but is overpaid. Member may be asked to provide a partial or full refund for some sort for shipping, service charge or the buyer has changed their mind. The check is counterfeit.
- Computer Tech Scam There are several variations on this scam. The computer shows a message or the member receives a phone call stating their computer has been compromised. The fraudster may ask for access to the desktop, or payment to fix it. If you give access, all of your information on your computer is potentially compromised.
- Refund Scam A member is informed they will be receiving a college loan refund.
- Insurance Scam A member believes they are receiving an insurance policy payout.
Keep an eye out for these familiar scams and if you suspect any suspicious activity on your account, don’t hesitate to contact our fraud department via email at FraudInvestigations@aacreditunion.org or by calling the Member Advocacy Center at (800) 533-0035.
-Credit Union Fraud Department