‘Tis the season to be wary. The holidays are a busy time for shoppers, travelers, and helping hands. Unfortunately, the cold weather months are also when scammers turn up the heat. A recent study found that nearly one in four Americans have fallen prey to fraud during the holidays. In this article, we’ll cover seven costly scams that are currently on the rise and offer a few tips for staying safe.
When compared to other financial institutions, credit unions are the masters of keeping members’ funds secure and stable. This is due in no small part to the National Credit Union Administration, which regulates credit unions and provides insurance for member deposits. But what exactly does that mean, and how does it compare to the safeguards in place for banks?
More than 150 million Americans were victims of credit card fraud last year, according to this Security.org's 2023 Credit Card Fraud Report. It’s a serious issue that can impact financial well-being and personal security. Credit card fraud often leads to unauthorized transactions, which may result in financial losses for the victim. Fraudulent activity on credit cards can also negatively affect victims’ credit scores if the unauthorized charges are not resolved promptly. This can make it harder to secure loans or credit in the future and lead to higher interest rates.
In the last five to ten years, large scale data breaches appear to be getting ever more common. It seems like every week, another news story breaks about a large company that fell victim of a data breach. These breaches see millions of users’ personal information compromised, often including usernames and passwords, either encrypted, or in the worst cases, in plain text. While there is little that can be done from a user perspective to prevent data breaches from websites, there are ways to protect yourself from cyber threats, including using strong and unique passwords.
If you’ve been following the news, scams and fraud are seemingly everywhere in our world. Whether over the phone, online, or even in the mail, it seems like there is a new trick to learn every day with regards to fraudsters, and it is important to stay informed about the latest cons to protect yourself and your family.
Millions of people use dating apps or social networking sites like Facebook and Instagram in the hope of finding love. But instead of finding their dream person, they wake up to an empty bank account. In fact, in 2021 alone, the Federal Trade Commission said that losses from romance scams were up nearly 80% from 2020, totaling $547 million. There are lots of things to look out for when it comes to romance and other online scams. In this blog, we’ll look at some different kinds of scams so you can avoid them and the heartache that can come along with them.
Identity theft can be a devastating crime that victims may not notice until it is already too late. Anyone can become a victim of identity theft, but luckily, anyone can take precautions to protect themselves. The Federal Trade Commission (FTC) and its partners hosted Identity Theft Awareness Week from January 30 through February 3, 2023. Their mission is to raise awareness that any person, of any age or background, can be a target for identity theft.
If it sounds too good to be true, it probably is. If someone asks you to invest and promises impossible returns on your money, such as guaranteeing that your money will be doubled or tripled with no risk, it’s probably a Ponzi scheme. Knowing how to recognize different types of fraud is a key component to financial literacy. There are many types of investment scams, but one of the most famous is known as the Ponzi scheme.
Ghosts, goblins, witches, and vampires – everyone knows All Hallows’ Eve is full of creepy creatures. But the scariest of them all may be scammers who try to trick you into revealing your sensitive personal information. Millions of Americans have their identities stolen or compromised each year, and dealing with the aftermath of identity theft and fraud is no treat.
This week, the Association of Certified Fraud Examiners (AFCE) holds its annual International Fraud Awareness Week from November 14–20, 2021. The ACFE is the world’s largest anti-fraud organization and works with its partners to provide training and prevention education.
Your smartphone is a fantastic tool. Where else can you stay in touch with friends, make a work call, manage your checking account, and book a vacation – all while on the go? These portable devices make everyday tasks quick and easy, but they certainly carry with them some risk. After all, they’re often used to enter or view personal and financial information, making them prime targets for identity theft and phone scamming.
It’s no surprise the credit and debit cards are so popular. They’re simple, easy to use, and accepted almost everywhere. But this popularity has also made them a common target for thieves and fraudsters. In 2019 alone, more than 270,000 people fell victim to credit card fraud. The consequences can be serious, from financial loss to damage to your credit (not to mention the stress).
You already know to protect your home while traveling, but there are still more precautions to take while on the go. Whether traveling domestically or abroad, your wallet and your smartphone are your lifeline. Defend them both with these key tips to help your trip go as smoothly as possible.
Mail theft is an issue that can leave you feeling blindsided, especially if the stolen mail contains sensitive information that puts your identity at risk. On top of that, stolen bills or statements can cause late payments or other financial headaches. Many people don’t think about protecting their mail until it’s too late, so take these proactive steps today!
When you join a credit union, you join a community. As a member of that community, you get a say as a shared owner of the credit union as well as a host of other benefits, like financial education, events, and discounts! Your American Heritage account comes with special member prices on tickets, insurance, and more. But did you know about these additional benefits?
In this series, we take a look at the inner workings of the Credit Union and meet some of the champions who help our members in every facet of their financial lives. This month, we met up with expert Rachel Nguyen, who leads her team in detecting and preventing fraud to protect the membership.
According to The The Knot, the average engagement ring costs $5,500. For an object designed to be worn on the hand, that’s an expensive item to go unprotected. Accidents happen. Your ring could get lost, stolen, or damaged during daily life or travel. Keep reading to learn how to secure this sentimental purchase’s safety with an insurance policy designed to protect fine jewelry.
‘Tis the season to be careful. Amidst the holiday deals, package deliveries, and charity donations, danger lurks. No one wants to ruin their holiday cheer with a headache and a disputed credit card charge, but a little caution goes a long way. Due to current world circumstances, many are choosing to do the bulk of their shopping online this year. While avoiding the crowd can keep you safe in one way, you still need to protect yourself on the web. Here are some common scams you can expect to see this holiday.
Beyond the emotional toll of the loss of a loved one is a list of responsibilities. While paperwork and documentation may be the last thing on your mind, it is important to settle certain matters quickly, such as managing the deceased’s bank accounts. At American Heritage, we strive to treat this sensitive topic with the respect it deserves by making the process smooth and uncomplicated. For the purposes of this article, the information provided will be written with American Heritage accounts in mind.