Red Flags for Banking Fraud

Fraud & Security
Confused woman holding cell phone and credit card

The following guidance and information is provided to help protect yourself against fraud. 

Suspicious Situations to be Concerned About:

  • You receive a negotiable item (i.e., official check, money order, business check, personal check, etc.), or item, in response to something you sold over the internet
  • You are asked to send a negotiable instrument in response to something you purchased over the internet
  • You are asked to send a wire transfer, gift card, or money order or otherwise return any portion of a negotiable item proceeds to a third party
  • You have any reason to suspect that a negotiable item you receive is not valid
  • The negotiable item is drawn on a business or individual account other than the person buying your item or product
  • The amount of the negotiable item is more than the item price
  • You received a negotiable item via an overnight delivery service
  • The negotiable item is connected to communicating with someone by email or text
  • You have been informed that you were the winner of a lottery that you did not enter
  • You are receiving pay or commission for facilitating money transfers through your account 
  • You have been instructed to either wire, send, or ship money, ASAP, to a large U.S. city or to another country, such as Canada, England, or Nigeria
  • You have been asked to pay money to receive a deposit from another country such as Canada, England, or Nigeria
  • You responded to an email requesting you to confirm, update, or provide your account information
  • You are being asked to open an account as a result of a job offer you received online

Other RED FLAG “Fraud May Have Occurred” Type Identifiers

  • Unusual credit activity such as new credit cards in your name
  • Unexpected and unwarranted calls from debt collectors
  • Random and unexpected transactions 
  • Unrecognized withdrawals 
  • FICO Score decline 
  • Social Security notifications to your attention
  • Heath insurance change of address requests or alerts noted
  • Car warranty expiration or not applicable topics to your attention warrant internal vigilance

We Can All Fight Fraud and Identify Theft Attempts

  • Don’t open files from unknown sources and senders
  • Never ever share passwords
  • Protect your PIN, one time pass codes, and security questions
  • Click carefully – avoid visiting unknown websites or downloading software from untrusted sources
  • Contact HVCU to speak about the situation! Sometimes these topics are confusing and we want to help protect you

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