Protecting our customers from fraud has always been a top objective for us, and one way we do that is through education.
Since the bitterly cold month of February 2022, we've worked on a "freeze fraud" campaign. Then, we wanted to freeze fraud like the cold Iowa winter. Now that it's warmer, we want to help you stay cool at summer events with cooling towels, hand fans, and frozen treats, but we still want to help you freeze fraud!
For months we've been sharing weekly tips on spotting and avoiding fraud, both in print and in video format. We've compiled it all here for you!
True Fraud Stories
Some basic red flags of a scam are:
- You're asked to hide information from loved ones
- You're asked to lie to your bank
- You're asked to wire funds
However, scammers are always trying new methods and telling new stories to trick their victims. Below are some examples. Expand each quote to learn more.
"I ended up losing money when I paid fees to claim a cash prize I 'won' but never received."
In these kinds of scams, a victim is told to pay fees or share personal information in order to claim a prize that never comes. They might also be told that paying money increases odds of winning.
“My grandson called for money to post bail. He was ashamed and scared so I sent it right away.”
Criminals sometimes call acting as a loved one in distress and in need of money fast. They might ask their victim to keep the call a secret because they are embarrassed by their situation.
“I bought products online to resell for profit. They never came. Turns out my ‘employer’ was a scammer.”
In job scams, a fake company might ask for your online banking login in order to deposit your paycheck. Among other things, they might ask you to pay for training that ends up being fake.
“I knew him for a long time and trusted him. I thought he loved me and was going to move here.”
Romance scammers will build a relationship and gain your trust, but never meet you in person. They might request money for travel documents or funds to visit, but they never come.
“I was told money was added to my account in error and to wire it back to the rightful owner.”
This victim was tricked into revealing his online banking login to a scammer. The scammer then logged in, moved money between accounts to make it look like a deposit had been made, and then told the victim that the money had to be “returned.” When the victim sent the wire, he actually sent his own money.
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