No one wants to lose their hard-earned money to a scam, and there are so many out there, we talked with Granite Credit Union for some tips to keep your money safe.
Laura Wall, Director of Risk Management and Mary Woodard, Vice President of Business Development say they're seeing a significant rise in AI-powered phishing, deepfake voice calls, and impersonation scams.
Fraudsters now may clone voices from social media or leaked voice clips to pretend to be a loved one asking for help.
Scammers will spoof phone numbers or email addresses to appear as if contacting you from a trusted institution.
They may use urgency ("your account is compromised — act now") or emotional manipulation ("your grandchild is in trouble") to create a crisis narrative.
They're also seeing "pig - butchering" investment scams, where criminals build trust over weeks/months via online chat then lure victims into fake crypto or investment platforms.
Card-not-present fraud (online transactions) is projected to grow 25 percent in 2025 due to data breaches and social engineering.
Granite never sends unsolicited requests for full card number or PIN.
If you think you may be a victim take these steps immediately:
- Don't panic, freeze.
- Contact Granite immediately via verified phone number (not via that suspicious message).
- Change online passwords, enable MFA.
- Monitor transaction history, flag suspicious charges.
- File a fraud report (with local authorities, credit bureaus, FTC, state fraud units).
- Work with Granite's fraud team to reverse or mitigate damage.
Granite uses real-time transaction monitoring, anomaly detection and fraud scoring models to fight fraud proactively.
They also collaborate with Utah Fraud Coalition, law enforcement, and other financial institutions to share intelligence and best practices.
They also work with community centers, senior centers and local media to reach and educate vulnerable populations through workshops, webinars as well as social media campaigns and printed fliers in branches.
You can learn more at granite.org.
