Does it seem like fraud is everywhere these days? You may be right.
Fraud has become much more sophisticated because criminals now use artificial intelligence, stolen personal information, spoofed phone numbers, and fake websites that look incredibly convincing.
Mary Woodard, Vice President of Business Development at Granite Credit Union, and Nancy McKean, Director of Risk Management joined us with the trends they're seeing and warning signs to watch for.
Imposter scams continue to be the most reported fraud in America, with scammers pretending to be banks, government agencies, utility companies. retailers, or even family members.
At Granite, they're seeing the following:
- Fake text messages claiming your debit card has been compromised.
- Calls that appear to come from your financial institution because scammers can spoof phone numbers.
- Fake fraud alerts asking you to "verify" your online banking credentials.
- AI-generated voices pretending to be loved ones in distress.
- Fake overdue toll road or package delivery texts that trick people into clicking malicious links.
In addition, investment and cryptocurrency scams continue to generate some of the highest financial losses nationwide.
If you do receive one of these calls or texts, the biggest mistake you can make is acting too quickly. Scammers create urgency because they don't want you to think.
Granite Credit Union offers this advice:
- Pause before responding.
- Never click links from unexpected texts.
- Never share one-time passcodes, PINs, online banking credentials, or card verification codes.
- Hang up and call your financial institution using the number on your debit card or from its official website.
Remember: Granite Credit Union will never ask you for your full PIN, online banking password, or authentication codes.
You should talk opening with parents, children and grandparents about scams and if something feels unusual, stop and ask someone you trust.
Granite Credit Union is here to help. They combine active fraud monitoring with experienced people who know what suspicious activity looks like.
Staff receive ongoing fraud training because scams evolve constantly.
Granite actively educates members through emails, social media, branch conversations, seminars and community outreach.
You can learn more at granite.org.
