Category Archives: Important Alerts & Scams

Last Minute Scams Ahead of the Presidential Election

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With the 2024 Presidential Election just days away, you might be hearing a lot of political chatter on the news, online, and among those you socialize with. While this might be an exciting or nerve-wracking time, one thing remains true for all voters alike – scammers are getting more desperate to try and scam you out of your personal information and hard-earned money as their chance to use the election as a disguise withers away.

As we mentioned in our recent blog post covering political scams, advances in technology, and especially in artificial intelligence (AI), can make some of these scams harder to spot. These scams can take place in many forms, and although most will take place online, it’s important to remain vigilant even on the phone or with someone standing right in front of you. While you’re taking the time to learn some last-minute facts about our presidential candidates, take some time to learn about these last-minute attempts that scammers will make to defraud you ahead of the election.

Cybersecurity Election Scams

Technological advancement is good, but like anything else – can also have a downside, especially when malicious actors try to use it to their advantage and to your detriment.

  • AI-Related Scams: As we mentioned a few weeks ago, deepfakes – which are videos or audio recordings that seem realistic but are fabricated, can be deployed to attempt to induce someone to perform a certain action. An example of a deepfake in action is receiving an AI-generated robocall that is impersonating a presidential candidate with the intent of spreading misinformation. This robocall might attempt to influence or sway the person on the receiving end of the call to cast their vote in a different manner based on misinformation. The Federal Communications Commission has outlawed robocalls featuring AI-generated voices, citing the exploitation of the technology and how it can mislead and deceive voters. Despite these calls now being illegal, voters should remain wary and skeptical of any calls depicting the voice of a presidential candidate since scammers are continually pushing the limits of what this technology can do.
  • Voter Registration Scams: If you are reading this post, it’s most likely too late to register to vote in the 2024 Presidential Election based on state voter registration deadlines. Additionally, you can only register to vote online, by mail, or in person at a local election office or motor vehicle services office – never over the phone or on-the-spot. Keep this in mind should a scammer approach you over the phone or in person claiming that they can register you to vote last-minute, just days before the 2024 Presidential Election. The scam plays out like this: a scammer reaches out with links to fake voter registration forms or asks you to download an app to register to vote. The fake voter registration forms would steal your personal information, and the malicious app could steal your payment information or log-in credentials. It is always best practice to go in-person or mail your voter registration in yourself.

Other Election Scams

  • Scam PACs: A scammer might also attempt to inspire you to donate to the cause as a “last-ditch effort” to get your presidential pick elected. Political Action Committees (commonly referred to as PACs) pool contributions from donors to support a common cause, whether that is a certain policy initiative or to support the election of a particular candidate running for office. The FBI urges voters to research candidates and their causes before donating, or you could be donating to a fake PAC. Fraudsters can reach out to you via any medium, asking you to donate to support a candidate or cause, when the money is truly for their own personal gain. Additionally, the scammer might display a sense of urgency persuading you to donate, citing that this is your “last chance” to help your candidate get elected. The FBI encourages voters to reference the Federal Election Commission to confirm if a PAC you would like to donate to is registered, to check what their expenditures are on, and to see how long they have been established. You can also go directly to a candidate’s website to learn how to donate and support their campaign if you are skeptical. In the case of protecting your hard-earned money or personal information, it is always worth going the extra mile and doing the research to ensure you are really donating to the political candidate or cause.
  • Fake Surveys and Polls: Election surveys and opinion polls are commonplace during election season. However – be wary of who contacts you, how they contact you, and what type of information they are requesting from you. You can be contacted over phone, email, or text by a person claiming to be administering a survey and collecting the needed information. Although being asked certain demographic information is common, you should never be asked to provide personally identifiable information, such as your Social Security Number or birthdate. Scammers administering these fake surveys and polls may also display a sense of urgency, so always be vigilant as to whether that common red flag is present. Additionally, never click on links in unsolicited emails or text messages, as you could be downloading malicious software or providing your personal information to a bad actor. Lastly, scammers administering fake surveys and polls have been known to promise a reward for completing the survey or requesting credit card numbers prior to sending your prize. Most organizations administering opinion polls do not provide a reward for participation, and no legitimate organization will ask for your credit card number.

With the Presidential Election nearly here, we know it could be easy to get caught up with information overload and miss out on red flags where a scammer is trying to defraud you. By following the above tips, you can help to prevent any fraud or identity theft from happening to you this election season. Keep Thinking First!

Think You’ve Been Scammed?

At First Financial, our number one priority is helping you protect your important personal and financial information. To stay on top of critical alerts and common scams, be sure to subscribe to our First Scoop Blog! If you believe your personal or financial information has been compromised by a scammer, please contact us at 732.312.1500 or visit one of our branches.

Protect Yourself From Presidential Election Deepfakes and Scams

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With the 2024 Presidential Election just about a month away, it’s not just political ads and debates that will capture your attention — scammers are also gearing up to deceive voters and steal sensitive financial information. Advances in artificial intelligence (AI) and deepfake technology are making it easier than ever for fraudsters to manipulate voters through fake videos, robocalls, and phishing schemes. With AI improving daily and scammers taking full advantage, it’s crucial to stay vigilant to protect yourself this election season and beyond. At First Financial, we’re here to help you navigate these risks and safeguard your finances.

What Are Deepfakes, and Why Are They Dangerous?

Deepfakes are AI-generated videos or audio recordings that convincingly mimic real people, often for malicious purposes. While these deepfakes are used in political campaigns to spread misinformation or manipulate public opinion, scammers are also using this technology to create fake donation requests or impersonate political figures. These realistic videos and calls can trick even the most discerning individuals into giving away their hard-earned money or sensitive information.

Common Election Scams You Might Encounter

  • Donation Requests: Scammers can pose as campaign representatives asking for donations via phone, email, or on social media. While these requests may seem legitimate, they are designed to steal money from unsuspecting voters who don’t verify the source.
  • Voter Registration Services: Scammers can pretend to be voter registration services, offering to update your voter information via phone, text, or email. They may convince you there is a fee associated with the updates and/or steal your personal information for identity theft or financial fraud.
  • Election Surveys: You might be asked to participate in a political survey, with scammers offering a reward in exchange for personal information such as your Social Security Number or bank details.

How to Spot and Protect Yourself from Scams

Election-related scams can be hard to identify, but knowing the common warning signs can help protect your finances. Here’s how to spot a scam and avoid falling victim to it:

1. Pressure to Act Quickly: Scammers often create a sense of urgency, insisting that you need to donate or update your information immediately. Be wary of any unsolicited request for immediate action, whether it’s to donate to a political campaign or fix a voter registration issue.

2. Unverified or Unfamiliar Sources: If you receive a donation request or voter registration update from an unfamiliar number, email, or website – take a step back. Always verify the source before engaging, and go directly to the campaign or government official’s website to check the legitimacy of the request.

3. Too Good to Be True Offers: If a survey or donation request promises you something that sounds too good to be true, like a large reward or an incredible opportunity – it probably is. Scammers often entice their targets with rewards in order to collect personal or financial information.

4. Suspicious Payment Methods: Be cautious of requests for unusual payment methods such as wire transfers, cryptocurrency, or gift cards. Legitimate campaigns will not ask for donations through these methods, as they are often a hallmark of scam activity.

5. Mismatched or Inconsistent Details: Look for small inconsistencies in emails or messages. Scammers may attempt to use AI-generated content, but these often include tell-tale signs such as unnatural movements, mismatched audio, or incorrect details about the candidate or campaign.

6. Double-Check Campaign Requests: If you feel connected to a political candidate or cause and wish to contribute, always verify donation requests by going directly to official campaign websites. Avoid donating through informal platforms or requests that you didn’t initiate.

Stay Vigilant & Protect Your Finances This Election Season

By staying informed and cautious, you can protect yourself from financial fraud and ensure that your personal information stays secure. At First Financial, we’re dedicated to helping you navigate this election season safely. For more financial tips and personalized advice, reach out to us at 732.312.1500 or visit a branch. Be sure to subscribe to the First Scoop blog for ongoing insights into staying financially secure year-round.

Busting the Latest in Imposter Scams

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When trying to stay one step ahead of scams, knowledge can be a powerful tool. In this day and age where scams are getting increasingly more complicated and scammers are deploying creative tactics, you can never know too much about the nature of scams. At First Financial, there is nothing more important to our team than protecting the personal and financial information of our members, and that includes protection from scammers. Below are some common imposter scam tactics you could experience, and how to identify them before it’s too late.

What it is:

An imposter scam starts with an unexpected call, email, or text message from a person, supposedly working for a government agency, financial institution, or popular social media platform, or claiming to be a family member or friend. This person alerts you to supposed fraud or criminal activity occurring in your accounts, and proposes a solution that requires sharing verification codes or moving money. Once you entrust them with this sensitive information, they likely have all the information they need to defraud you. Divulging this sensitive information will always benefit them, and it will harm your finances.

Red Flags:

  • Request of Sensitive Information: A government agency, financial institution, or social media platform will not request that you divulge personal or financial information via call, email, or text. In the case of verification codes, these are used by institutions as a second step to prove that you are really you, so never give a scammer the tool they need to impersonate you and steal your money.
  • Sense of Urgency: The scammer will likely convey a sense of urgency, convincing you that some sort of action needs to be taken now to protect you. They are trying to get what they want quickly, and move onto the next person they can defraud.
  • Moving Money to “Protect” it: When there’s a scammer on the other end of the line, moving your money means losing your money. A legitimate government agency or financial institution will not have you moving your assets off their platform to “protect” them.

Staying Safe:

  • Do Not Divulge Information: If someone is coercing you to divulge your personal or financial information to “protect” you or act before it is too late, you likely need to protect yourself from that person. Simply end the conversation, block them on the platform you were communicating on, and report the interaction to the Federal Trade Commission.
  • Call the Person, Agency, or Company Yourself: Caller ID can appear to be real – but just like many other things scammers take advantage of, this too can be faked. Scammers have been known to spoof your bank’s phone number, and even major government agency phone numbers such as the IRS. If you are trying to call the real individual, agency, or company the person is allegedly calling you from – get that information from a statement, bill, or the company website.

Remember: First Financial will never ask you to share personal information, passwords, or verification codes via call, email, or text. The only thing we ask our members is to remain vigilant to scammers, and continually educate yourself on the evolving nature and tactics of scammers.

While these types of imposter scams have been especially prevalent in 2024, they are likely not going away and will continue to take place in the coming year. If you believe you have been the victim of an imposter scam, you can report it to the Federal Trade Commission at ftc.gov, and/or your local police department.

Questions? Contact First Financial’s Member Relationship Center at 732-312-1500, email us at info@firstffcu.com, or visit one of our local branches.

Protect Yourself Against Tech Support Scams

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As digital threats evolve, tech support scams are becoming more prevalent, targeting unsuspecting individuals with fake offers of help for non-existent computer problems. These scams can lead to identity theft and great financial loss if not properly identified and avoided. At First Financial, we’re committed to helping you stay informed and protected from these common fraud tactics.

What Is a Tech Support Scam?

A tech support scam typically begins with an unsolicited call, email, or pop-up alert on your computer from someone claiming to be a representative from a well-known company such as Microsoft, Apple, or even your internet provider. The scammer tells the victim a virus or malware has compromised their computer and urgently needs to be fixed. The goal is to convince you to grant them remote access to your device, pay for unnecessary services, or share your financial information.

How Do Tech Support Scams Work?

Tech support scams rely on creating a sense of urgency and fear to trick you into believing that your computer or personal data is at immediate risk. They may claim that your device has been hacked, that your personal data is vulnerable, or that your system is infected with dangerous malware. The scammer then offers to “help” you fix the issue — sometimes for a fee. In reality, there is no problem – they intend to either steal your personal information or convince you to pay for fraudulent services.

How to Spot and Avoid Tech Support Scammers

  • Unsolicited Contact: Scammers often initiate contact via phone calls, emails, or pop-up windows, falsely claiming to be from reputable tech companies. If you didn’t initiate contact, be cautious — this is a major red flag.
  • Urgent or Scary Language: Scammers create a sense of urgency, telling you that your device is at risk of being compromised or that your personal data is in danger. The goal is to pressure you into quick action without giving you time to think.
  • Requests for Remote Access: If a supposed “tech support” person asks for remote access to your computer, this is a key sign of fraud. Giving someone remote access opens the door to your personal data and files, putting you at great risk.
  • Demand for Payment: Legitimate companies will never ask you to pay for services upfront or demand immediate payments through unconventional methods like gift cards, Bitcoin, or wire transfers.
  • Verification Codes: Scammers might ask for a verification code sent to your phone or email. These codes are designed to protect your accounts, and no legitimate tech company will ask for them. Never share them with anyone.
  • Unverified Claims: Always be skeptical of unsolicited claims about your computer or account being compromised. A reputable company will never demand immediate action or payment without a legitimate service request from you.

How to Protect Yourself from Tech Support Scams

1. Never Move Your Money to “Protect Your Account”

Scammers may claim your bank account is at risk and urge you to transfer money to a “safe” account. This is a scam. No legitimate company will ever ask you to move funds for security reasons.

2. Do Not Share Verification Codes

Verification codes are meant to keep your accounts safe. Scammers may ask for these codes to gain unauthorized access. Never share them with anyone, and if asked – it’s a sure sign of fraud.

3. Be Wary of Suspicious Calls or Emails

If you receive unexpected communication about an issue with your computer or a suspicious transaction, pause and verify. Scammers use these tactics to pressure you into giving up sensitive information. Contact the company directly using their official contact details.

4. Take Your Time

Scammers thrive on creating urgency. If someone is pressuring you to act quickly, it’s likely a scam. Always take a moment to verify the legitimacy of the situation by reaching out to the company or speaking to a trusted representative.

5. Avoid Payment Requests via Gift Cards or Bitcoin

If you’re asked to pay for tech support services using gift cards, cryptocurrency, or wire transfers, it’s a scam. Legitimate businesses will never demand payment through untraceable means.

Protect Your Finances

At First Financial, we take your financial security seriously. If you ever suspect you’ve been targeted by a scammer or feel unsure about a suspicious interaction, call 732.312.1500 or visit a branch for guidance. We’re here to help you keep your finances safe. For more helpful tips and resources, visit our website or subscribe to the First Scoop blog for ongoing updates on keeping your finances safe from scammers.

P2P Team Donation Scams

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There’s a new person-to-person (P2P) payment scam out there. It involves young adults going door to door, looking to “fundraise” for a sports team or extracurricular organization. But be leery, this is a scam designed to steal your money! How does it work? We’ll show you exactly how this scam plays out and how you can prevent it from happening to you.

How the Scam Works

  • A group of young adults rings your doorbell or comes up to you in person while you’re out, and tells you they are trying to raise funds for their sports team to buy new uniforms (or for a similar activity).
  • There is a clear spokesperson in the group whose job is to distract you, by explaining a lengthy story on what the “donations” will be used for and how much they would help the team. While you’re listening to the bogus story, another member of the group says not to worry – you can easily donate through Venmo or Zelle, and they’ll quickly put their contact information in your phone for you so that you can do a quick transfer once they leave.
  • While you are distracted with the story and how easy the scammers make the donation options sound, it’s not hard to fall for this scam and hand over your phone without thinking it through – to the individual who asked for it. However, you should never give your unlocked phone to anyone you do not know! This is how the scam unfortunately takes place.
  • Once the scammer has your unlocked phone, they can easily click on your Venmo or Zelle app – and transfer your money over to themselves in seconds. You probably wouldn’t even realize it’s happening as one member of the group continues to talk to you and distract you, while you think the one who has your phone is simply entering their contact information for you to make a transfer later.
  • The worst part of a P2P payment scam, is that you typically can’t get your transferred funds back.

You can prevent this or other similar P2P payment scams from happening to you by only sending money to those you know and trust, treating Zelle and Venmo like cash, refraining from giving anyone you don’t know your unlocked cell phone, and if you think something is too good to be true or it feels off – it probably is.

At First Financial, our goal is to help protect our members from scams and identity theft. If you have any concerns or questions about any of your First Financial accounts, please call member services at 732.312.1500 or visit one of our branches.

To learn more about scams and ways to protect yourself, visit zellepay.com/pay-it-safe.

Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

Beware of ATM Skimming and Shimming

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Recent incidents of sophisticated financial fraud include the uptick in unauthorized capture of consumer card and PIN information through skimming and newer shimming devices, placed inside ATMs or payment terminals. Keep reading to learn how to protect your finances from these fraudulent devices and signs to look out for when using an ATM or other payment terminal.

What are Skimming and Shimming?

Skimming occurs when illegal card readers are attached to payment terminals including at the store, on gas pumps, vending machines, parking meters or on ATMs. These card readers grab data off a credit or debit card’s magnetic stripe without your knowledge. Criminals can then sell the stolen data or use it to buy items online. You can learn more about skimming devices and what to look out for by watching our YouTube video.

Shimming has evolved more recently, as card microchips (EMV chips) started being used on newer cards to curb skimming efforts. Shimmers are thin pieces of metal inserted into an ATM or a machine at a point of payment, used to capture information in the microchip. They are small and almost impossible to detect when looking at a machine from the outside. Shimming devices allow fraudsters to steal data from your EMV chip cards in the same way that skimmers capture the data from a magnetic strip.

How Does Shimming Work?

When a shimming device is installed on an ATM or point-of-sale terminal, a crook can steal the data contained on your card’s chip. They can then use the data to create a fake card and make fraudulent purchases. You most likely won’t be aware that a shimming device is inside an ATM or payment terminal. The device is typically positioned inside the machine’s card reader slot, and is designed to be undetectable. Once the device has shimmed data from unsuspecting cardholders, the crook will pull the device out of the machine to retrieve the stolen data.

Protect Yourself

There are several ways you can protect yourself from shimming, including:

  • Use contactless payment methods such as Apple Pay, Google Pay and Samsung Pay, like we have available here for our First Financial members.
  • Use a financial institution owned ATM. ATMs owned by a bank or credit union are more secure than one you might find at a convenience store.
  • Choose a safe ATM. Skimming and shimming devices are more likely to be installed in poorly lit areas and in less public places, where even if there are cameras – they most likely won’t be able to pick anything up. Read more about ATM safety in our previous blog post.
  • Always check the card slot. Be aware of how easily your card fits into a card reader slot. If it’s difficult to slide your card in, be suspicious. This might mean there’s a shimming device inside the card reader.

What Should You Do if You’re a Skimming or Shimming Fraud Victim?

  • Contact your financial institution or card issuer. Once you know your card has been compromised, reach out to your card issuer to lock the card and issue you a new one right away.
  • Setup account & fraud alerts and monitor your account. You can request that the credit bureaus place an alert on your credit profile, which will ask any creditors to verify your identity before issuing any new credit in your name. You’ll also want to carefully review your bank and credit card statements and online account for any unusual activity.
  • File a report with the FTC. You can visit the FTC’s website to submit a report about suspected shimming.

At First Financial, your financial well-being is our top priority. Our tools and resources such as our Fraud & ID Theft Protection Guides can equip you with the knowledge necessary to protect yourself from scams. By staying informed and vigilant, you can safeguard your finances and enjoy peace of mind in an ever-evolving digital world.

For more personalized financial assistance with your First Financial accounts, call us at 732.312.1500 or visit a branch today.