Your security is our top priority, but you can help, too.
As you’ve heard, knowledge is a powerful defense against fraud and knowing what CVF will ask for – as well as what we will never ask for is an important first step in keeping your money safe. Fraudsters are always finding new ways to steal money. Common ways include impersonating your financial institution through phone calls, texts, and emails.
Police departments have shared that they expect increased fraud and scam attempts on consumers. As Click on Detroit reported, some are even using AI. See their report here: https://ow.ly/6baX50Qc4Gr
Phone scams, which are also known as spoofing, have been on the rise in recent years. Spoofing is when a scammer disguises their phone number to seem like they are calling from a trusted source, like your financial institution.
Scammers love gift cards! They’re easy to get and nearly untraceable. Don’t fall victim for these common scams.
Scammers may also try to gain access to your information via text or email. These emails and texts will contain fraudulent links encouraging you to share personal information, like username, password, and other account details. These communications often look like legitimate emails or texts from companies you already do business with but have minor imperfections or irregularities.
Common signs of email or text scams include:
If you receive a text or email from CVF and you are unsure if it is real, do not click on any links. Give us a call directly (734-432-0212) and verify the text message or email you have received is truly from us.
A charity scam is when a thief poses as a real charity or makes up the name of a charity that sounds real in order to get money from you.
These kinds of scams often increase during the holiday season as well as around natural disasters and emergencies, such as storms, wildfires, or earthquakes. Be careful when any charity calls to ask for donations, especially ones that suggest they’re following up on a donation pledge you don’t remember making.
Debt settlement or relief companies often promise to renegotiate, settle, or in some way change the terms of a person’s debt to a creditor or debt collector. Dealing with debt settlement companies, though, can be risky and could leave you even further in debt.
Mail fraud letters look real but the promises are fake. A common warning sign is a letter asking you to send money or personal information now in order to receive something of value later. Examples of mail fraud might include notices of prizes, sweepstakes winnings, vacations, and other offers to claim valuable items.
Con artists use money transfers to steal people’s money. If someone you don’t know asks you to send money to them, it should be a red flag. Scammers also use mobile payment services to trick people into sending money or merchandise without holding up their end of the deal. For example, a scammer may sell you concert or sports tickets but then never actually give them to you. Or a scammer might purchase an item from you, appear to send a payment, and then cancel it before it reaches your bank account.
Using mobile payment services with family, friends, and others you know and trust is the safest way to protect your money. You should also be cautious when people you do know ask you to send them money. Before you send money, verify that they are the ones requesting it.
See these additional resources to learn more about Scams and Fraud and how to report it.