New Year, New Scams: How to Protect Your Money

As technology evolves, so do the tactics used by scammers. Fraudsters are increasingly using digital tools, artificial intelligence, and impersonation techniques to trick people into sharing personal information or sending money. Staying informed is one of the best ways to protect your finances.

Here are some of the most common digital scams to watch for and what you can do to avoid them.

Top Digital Scams to Watch For

1. Financial Institution Impersonation Texts and Emails
Scammers pose as financial institutions, sending urgent messages claiming there’s suspicious activity on your account. These messages often include links that lead to fake websites designed to steal login credentials.

• Red flag: Messages that create urgency or ask you to “verify” information immediately.

2. AI-Generated Phone Calls and Voicemails
Fraudsters are now using AI to create realistic voice calls that sound like real employees, family members, or trusted businesses. These calls may ask for account details or request immediate payments.

• Red flag: Unexpected calls requesting sensitive information or payment.

3. Payment App and Peer-to-Peer Scams
Scammers may pretend to be buyers, sellers, or customer support representatives on popular payment apps. Once money is sent, it’s often impossible to recover.

• Red flag: Requests to send money quickly or move conversations off the app.

4. Fake Online Shopping and Social Media Ads
Too-good-to-be-true deals on social media or unfamiliar websites may result in counterfeit products, or no product at all.​​​​​​​

• Red flag: Deep discounts, limited-time pressure, or unfamiliar retailers.

5. Account Takeover Attempts
Using stolen passwords from data breaches, scammers attempt to access financial accounts and change login credentials.​​​​​​​

• Red flag: Unexpected password reset emails or account alerts you didn’t initiate.

Tips to Protect Yourself

• Never share your login credentials, one-time passcodes, or card numbers with anyone.
• Don’t click links in unsolicited texts or emails; go directly to the official website or app.
• Enable multi-factor authentication on all financial accounts.
• Pause before sending money, especially if you feel rushed or pressured.
• Monitor your accounts regularly and report suspicious activity immediately.
• Trust your instincts, if something feels off, it probably is.

We’re Here to Help

NGFCU will never ask for your full account number, online banking password, or one-time security codes. If you receive a message or call that seems suspicious, contact us directly at 800.633.2848.

Staying informed is the first step in staying protected. As scams continue to evolve, we remain committed to helping our members safeguard their financial well-being.