Quick Tip
Receiveing emails, texts, or calls from someone saying they are from a company or government agency and pressuring you to buy a gift card in order to pay off a supposed bill or debt? Threatening you with being in trouble if you don't do so? This is a common tactic used by scammers. Real businesses and other entities will not ask you to buy a gift card as a form of payment.
Protect Your Finances
Common Warning Signs of Scams and Fraud
Imposters. Many fraudsters try to imitate your financial institution and reach out to you asking for personal or account information. Remember that Novation Financial will not send you a communication asking you to verify your account number, password, or other secure information.
"Too Good to Be True" Deals. Social media can be the home of fake retailers or shops who offer very deep discounts with very vague product descriptions. The end result is often authorizing a purchase and then never receiving the goods. It's a good idea to research who you are actually making a purchase from and checking out their reputation.
Online Relationships. Met somebody online? They quickly tried to make a connection with you and gain your trust? Then they had a story about how they need you to send them money to help them out. Be careful about sending money to someone you have never met and ask yourself if it's possible this person is pretending to be someone they are not.
Cryptocurrency Investments. Building off the above topic of online relationships, offering investment opportunities in cryptocurrencies is a common tactic used by scammers after they have established a relationship with a potential victim online. Think twice before transferring large sums of money for such an "opportunity."
Gift Cards. Suddenly receive an email or text saying you owe a surprising, unexpected bill to a company or government agency? That should already make you suspicious. Requesting you pay by purchasing gift cards is another likely sign of attempted fraud.
Prize or Problem. Communications suggesting you won a prize for a contest you don't remember entering, or suggesting there is a problem with your account or computer that needs to be addressed immediately, are a common method for scammers to get victims to transfer funds or make a payment quickly before they stop to think if it is real.
In Focus: Identity Theft
View important tips for keeping your identity safe with this video from our friends at Life. Money. You.®
