Be Fraud Aware this Easter

Fraud Awareness & Safety Tips

Stay Safe: Your Guide to Fraud Awareness and Prevention

Here at First Tech Credit Union, we’ve always believed in the strength of our community. As a member-owned financial cooperative, your financial wellbeing is at the heart of everything we do. In today’s digital world, staying connected also means staying vigilant against fraud.

Criminals are becoming increasingly sophisticated with different types of scams, but with the right knowledge, you can protect yourself and your hard-earned money. These scams typically create a sense of urgency or fear, leading some recipients to act impulsively.

It’s essential for First Tech members to be cautious and verify any unexpected communication rigorously.   This guide outlines the common types of fraud in Ireland and the practical steps you can take to stay safe.

Common Types of Fraud to Watch Out For

Knowing what you’re up against is the first step to prevention. Here are some of the most prevalent scams targeting people in Ireland:

1. Phishing, Vishing & Smishing

• Phishing: This is where you receive a fraudulent email that’s designed to look like they come from trusted organisations such as a credit union like First Tech or your bank, or a government agency, a parcel delivery company like An Post or UPS or tech support companies like Microsoft or Apple.

These emails claim that there has been suspicious activity on your account and that they need to ‘verify your identity’ or ‘secure your account’ immediately. They will then ask for your full card number, PIN, expiry date, CVV or other online banking passwords.

Scammers can also pose as popular social networks, stating there’s been suspicious login attempts on your account and they need verification for account security. Fraudsters also try to impersonate well-known online retailers. They lure recipients to click harmful links by claiming issues with processing orders or payments.

Be vigilant with utility providers as well. Scammers will try to trick you by claiming that you’re behind on your bill and that the service will be disconnected within hours if you don’t make an immediate payment.

• Vishing: These are similar scams via the phone. You might get a call from someone pretending to be from your bank’s fraud department, your internet service provider or even An Garda Siochána. They will try to trick you into revealing your PIN, passwords or other personal data.

They can manipulate the caller ID to make it appear as if the call is genuinely coming from the bank’s or government department’s official number.  This is why you should never trust caller ID alone.

• Smishing: This is scams via SMS (text message). You might receive a text about a missed delivery or a tempting offer, again with a malicious link.

2. Card Fraud

This is where a criminal uses your debit, credit or prepaid card information to make unauthorised transactions or withdraw funds without your permission. You don’t need to physically lose your card for this to happen; often, just the details are stolen.

The most common types are:

• Card-Not-Present Fraud: This is the most common type and occurs when your card details (number, expiry date, CVV security code) are stolen and used to make purchases online or over the phone.
• In-Person Card Fraud: This is done via card skimming devices illegally attached to ATMs or point-of-sale terminals. Criminals use the stolen details to make unauthorised purchases.
• Lost or Stolen Card Fraud: This is where someone physically steals your card and uses it to make in-store purchases or withdraw cash from the ATM.

3. Fake Online Stores

Fraudsters set up counterfeit websites that mirror legitimate online retailers. These sites often feature attractive deals on popular products, enticing consumers to make purchases but ultimately leaving them with no goods and lost money.

How to Protect Yourself: Your Fraud Prevention Toolkit

1. Be Sceptical of Unsolicited Contact

• Think. Check. If you receive an unexpected call, text or email asking for personal or financial information, pause.
  • Never give away personal information, bank or credit union account details or security details such as your PIN or online password to anyone.
  • Never click on links or open attachments in unexpected or unusual emails or text messages, even if they appear to come from someone you know. Just delete the message.

• Verify Independently: If you’re unsure, hang up and call the company back on a phone number you know is genuine (e.g. from their website or your statement). Do not use the contact details provided in the suspicious message.
• Remember: Legitimate organisations like First Tech Credit Union will never call you to ask for your full PIN or password.

2. Strengthen your Digital Defences:

• Use Strong, Unique Passwords: Use a mix of letters (upper and lower case) and symbols.
• Enable Two-Factor Authentication: This is usually a code sent to your phone and adds an extra layer of security beyond your password. Always enable tis when offered it.

3. Check Website URLs:

• When entering any login details, make sure the website address (URL) begins with https://. The ‘s’ stands for ‘secure’ and has a padlock symbol in the address bar.
• Be cautious on deals that seem to be good to be true.
• Verify promotions through the retailer's website.

4. Keep Software Updated: Make sure to regularly update the operating system on your phone, computer and tablet. These updates often include important security updates.

5. Guard your Personal Information

• Mind your personal data very closely. Be careful what you share on social media as fraudsters can use this information to guess passwords and answer security questions.
• Shred documents containing personal information before disposing of them.

6. Monitor your Accounts Regularly: Regularly check your account and card statements via online banking services. This way you can spot fraud early and report it immediately.

7. Be Cautious with Public Wi-Fi: Avoid making payment over public Networks. Private Network (VPN) to encrypt your data.

8. Shop Safely Online: Only buy from trusted retailers. Use tools like Scamchecker.ie from FraudSmart to verify websites before making purchases.  Click here for more info  https://fraudsmart.scamchecker.ie.

9. Contact your Credit Union or Bank Immediately if you think you have responded to a scam text message or phone call.

Simple actions help you stay one step ahead of the scammers! For more information on scams, visit www.fraudsmart.ie.

Be Informed, Be Alert, Be Secure - Be FraudSMART