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Established in 2000 by the Association of Certified Fraud Examiners (ACFE), International Fraud Awareness Week is a time dedicated to promoting fraud awareness and education.

Here’s a breakdown of some common types of fraud to watch out for:

Account Takeover – Account takeover (ATO) fraud occurs when a cybercriminal takes over another person’s legitimate online accounts without permission. It can involve stealing banking and credit card information, email accounts, or other sensitive data such as social media logins.

Phishing/Social Engineering – Phishing and Social Engineering scams are manipulation techniques that aim to trick an individual into giving up their sensitive data. This data can include passwords, social security numbers, bank records, or other personal or private information. The request usually appears to be from a familiar person, organization, or company and often contains links to malicious websites.

Check Fraud – While not as common, check fraud happens when a scammer knowingly writes a bad check, alters a check, or fraudulently forges a check. If your checks are not stored in a secure location, they can be stolen by burglars, service workers, and even trusted houseguests, or even straight from your mailbox.

Card Fraud – Have you ever stumbled upon a website you’ve never shopped at before that has deals that seem too good to be true? Scammers will set up a legitimate looking website in hopes of capturing your credit card information at check-out if you try to make a purchase.Impersonation – Impersonation scams are a type of fraud initiated by a person who pretends to be someone you can trust to get your sensitive data. These scams may target an individual or seek to capture sensitive information about a company. They are often elaborate and may target you via email, text messages, social media, or phone calls.

Identity Theft – Identity theft happens when someone other than you uses your personal information to impersonate, and often steal from you. This personal information can include your Social Security number, bank account or credit card information, and even physical identification like your mail, driver’s license, or passport.

Now that you understand these common types of fraud, here are some ways you can protect yourself from falling victim to these scams:

Fraud Prevention Tips:

Use strong, unique passwords and leverage multi-factor authentication (MFA).

Instead of following the links in an email or text message, contact companies or people using a phone number or website you know is real.

Don’t open attachments or click on links if you don’t know the sender or you didn’t request the information.

Make sure your devices are up to date from a security standpoint and have anti-virus protection installed.

Always mail checks using a secure envelope, and whenever possible hand the envelope directly to your mail carrier or drop it in a secure location or mail processing facility.

courtesy- DCU newsletter.