Don’t Let Fraudsters Fool You

Scams are constantly evolving and becoming more sophisticated in keeping with current trends and technology. In recent years, AI has made scams harder to detect and made it easier for fraudsters to reach more people with less effort. Don’t fall victim to fraudsters; learn about popular scams and how to prevent them from happening to you.

Text Scams
Text message scams are so common that the Federal Trade Commission (FTC) reported $470 million in losses in 2024 alone, five times the losses reported in 2020. Let’s check out some of the most popular text scams to watch out for:
 

• Fraudsters pose as banks and cause panic by sending a security-related notification. They act as if they are solving a fraud issue when, in reality, they are trying to steal your money. 
• “Wrong number” texts that are entirely on purpose are growing in popularity. A text designed to look like an innocent mistake can lead to fake friendships or romantic relationships. After building trust, the fraudster’s goal is to get money for fake investments or financial help.
• Text alerting you of unpaid highway tolls requesting you to click on a link to pay the toll. They are after card or social security information. 
• Fraudsters pose as Amazon (or other popular online stores) and state an expensive item was purchased on your account. They instruct you to call, respond to the text, or click a link if you didn’t make the purchase so the issue can be resolved.
• Fake job offers with a link to an application in hopes you provide personal information.
• A text claiming to be a delivery service saying they couldn't deliver your package and asks for a redelivery fee.
• Texts with a link to log in to your account or a password reset request you didn't make.

TIP:If you suspect a text message is fraudulent, call us at (800) 743-7228 during our operating hours (Monday - Friday, 8 a.m. - 6 p.m. and Saturday, 9 a.m. - 2 p.m.) and we will be happy to confirm if the text was from us.

QR Code Scams
QR codes have gained popularity in restaurants, on business cards, promotional flyers, etc., and for good reason, they make it quick and easy to access a site. However, some scammers create codes that send you to a malicious site that looks like the site they are impersonating to get your login or personal information, and more. Some fraudsters also place stickers with their QR code on top of a legit QR code to send you to a fraudulent site instead of the site you think you are scanning for.

TIP: It's always best to type the website into a browser and find the information you want on their site. If you scan a QR code, check the URL before continuing to use the site..

Romance Scams
The most successful scams are those that exploit someone's emotions, which is why fraudsters build your trust through social media and dating sites by sharing fake stories of financial hardship. The fraudster then requests money through wire transfers, money orders, digital payment apps and prepaid reloadable cards. In extreme cases, they may ask for access to bank accounts, credit cards, and Social Security numbers to get help with their supposed financial hardship. With the help of AI tools—such as advanced language translation and realistic fake images—these scams are becoming increasingly difficult to detect..

TIP: Be wary of online relationships, and if you believe you are a victim of such a scam, don’t hesitate to tell someone you trust or your financial institutions. They will be happy to help and have a higher likelihood of being able to protect you the sooner you bring it to their attention.

"Pay Yourself" Scam with Zelle^®
The "Pay Yourself" Scam starts with a fraud alert text message from a scammer pretending to be your bank. If you respond, the scammer will call you from a number that looks like your bank or credit union. They will pretend to help you stop the fraud by convincing you to send yourself money through Zelle. When you sign up for Zelle, your bank will send a one-time code to verify your identity since Zelle will then be connected to your bank account. The scammer will ask you what the code is to authorize the payment to yourself. In reality, they are using the code to set up their bank account, so while you think you paid yourself, you really paid them.

TIP: Your bank or credit union will never ask you to send money to yourself. If you believe a call is suspicious, hang up and contact your financial institution directly at the number listed on their official website.

Student Loan Scams
With uncertainty surrounding student loan payments, scammers are betting on people being confused. Scammers call people offering to get their loans forgiven or canceled for a fee. You can usually spot the scam if they create a sense of urgency, pressure you to pay an up-front fee for them to help, or ask for your Federal Student Aid login information.

TIP: Visit the Federal Student Aid resources page to stay vigilant about popular scams, see a list of trusted debt relief companies, a list of banned companies, and more tips on what to look out for. Free assistance is available through your federal loan servicer and can assist you with tasks and information related to your student loan.

Protect Yourself Against Fraud:

• If something sounds too good to be true, it usually is.
• If you are ever unsure, validate the company by calling the number listed on an official website.
• Check for misspellings, bad grammar, URLs that are slightly off (example: www.arrowheaduc.com), and websites that are not encrypted (secure sites will have a lock symbol next to the URL and use HTTPS:// in the link).
• Do not click links or open attachments in suspicious emails or texts.
• Do not share your login information via texts, emails, or over the phone.
• Set up fraud text alerts with your financial institution or merchants with access to your account information. If you get a fraud text, email, or phone call alert from any other number, you will know it is a scam.
• If someone is pressuring you and making the situation urgent, they are most likely trying to convince you to take action without thinking; slow down and check the information they give you.
• Before making a purchase on a website you’ve never been to, check the reviews. If they are all 5-star reviews that have similar statements and language, that’s a red flag.
• Avoid making payments or entering login information on a site accessed by scanning a QR code.
• Set up alerts in digital banking so you will be notified immediately if your account has unusual activity.
• Anyone asking for personal information is likely a fraudster.
• If you are contacted by someone claiming to be from a business outside their normal business hours, it is likely a fraudster.

If you are contacted by someone claiming to be us and you are suspicious of the validity, please call us at (800) 743-7228 during normal business hours, so we can confirm the validity and help protect your account if needed.