How to Determine if a Donation Appeal is for Real or a Scam

Posted on October 20, 2023 by VP of Marketing and Business Development Jessica

Charitable donations are a great way to make an impact on the causes you care about. But when tragedy strikes, scammers may prey on the generosity of those trying to support the victims. Scammers often request donations on social media or crowdfunding websites – or may contact you by phone, text, or email.

Common Characteristics

Charity scams occur when a scammer tricks someone into sending them money for what they believe is a worthy cause. Be on the lookout for these common characteristics of a scam.

Emotional appeals. Scammers may try to tug at your heartstrings by highlighting victims of natural disasters, such as wildfires or hurricanes – with an urgent appeal for donations that purportedly go toward food or shelter. Scammers commonly try to get people to act on emotion rather than logic.
Unusual language and names. Pay close attention to the details in any request you receive – especially poor grammar and spelling errors. Scammers may try to slightly alter a real charity’s name or website by changing a single letter and hoping you won’t notice the difference.
Specific payment method. Be wary if a “charity” requires you to donate through a digital payment platform or other non-refundable payment method.

Even if a charity seems real, it’s important to research the organization and look for reviews before you decide to donate. You can also do an online search for the name of the charity with the word “scam” or “complaints” to see if others have reported any issues. If you’re unable to verify a charity’s authenticity, you may want to donate elsewhere. When it comes to sending money, always remember to slow down and ask yourself questions. If something doesn’t feel right, trust your instincts.

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.

Protect Your Savings from Investment Scams

Posted on August 29, 2023 by VP of Marketing and Business Development Jessica

We all dream of financial success, but when it comes to investing, we have to be cautious. Scammers will tout a once-in-a-lifetime opportunity that will earn high returns with little to no chance of loss. These investment scams take a variety of forms, from financial coaching and management schemes to cryptocurrency and fake investment companies. After the unsuspecting investor sends their money, the other person disappears – and then the money is gone.

Signs of an Investment Scam

A scammer may post an ad online – or contact you via phone, text, or email with an unsolicited offer that seems too good to be true. But there are some red flags you can look for that may indicate the opportunity is actually a scam.

No Risk of Loss. Be wary of opportunities that advertise a way to make easy money fast and promise financial security for years to come. Typically, all investments require some level of risk.
Use of Pressure Tactics. You might see an “exclusive offer” to join a program for a limited time. This is a pressure tactic designed to rush you into making a decision without thinking it through or fully vetting the opportunity.
Upfront Payment is Required. If an investment opportunity requires you to send money upfront through cryptocurrency or a digital payment method, don’t engage.

Ways to Avoid an Investment Scam

If you think a scammer may be targeting you, remember to slow down and ask questions. If something seems too good to be true, it probably is. Pay close attention to the details and do thorough research before making any financial decisions. You can also contact the Better Business Bureau and any applicable government agencies to see if other consumers have filed complaints against an individual or company.

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.

Online Marketplace Scams Target Both Buyers and Sellers

Posted on December 16, 2022 by VP of Marketing and Business Development Jessica

Whether you’re looking for a houseplant, a coffee table, or a new gaming console, online marketplaces can be great places to start. But be careful. Anonymous listings and virtual transactions are ripe for online marketplace scams, which can take a variety of forms.

You May Not Get What You Paid For

If you pay in advance for something you have not seen in person, the item may not arrive as advertised. In fact, it may not arrive at all. A picture of a cute puppy or designer jewelry is easy to post in a marketplace, but if you pay without knowing the seller personally or seeing the product, the seller can take your money and disappear.

Payment Type Matters

Pay attention to listings that insist on an unusual payment method, such as gift cards. Gift card numbers are hard to trace, so if you don’t get what you paid for and the seller’s profile has disappeared from the marketplace, it will be very difficult to track them down or get your money back. Also keep in mind that with many digital payment methods, once you send a payment it often can’t be reversed, making it even more important that you know who you are dealing with and what you are buying.

Scams Targeting Sellers

While many people are aware of scams targeting buyers on marketplace sites, sellers can get scammed too. One tactic is for scammers to fake payment receipts or confirmations with an amount that’s higher than the asking price. The supposed buyer may claim to have purchased a product above your listed price and request a refund without actually having placed an order.

Another marketplace scam growing in popularity involves a fake email appearing to be from Zelle®, claiming that a transaction cannot be completed until your Zelle® account is upgraded. In reality, the scammer is tricking you into paying them for an upgrade that doesn’t exist. Zelle® does not offer account upgrades.

Warning Signs: What To Watch Out For

Unreasonably low prices – Sometimes an incredibly low price is literally too good to be true. In most instances, it’s best to pass on this type of offer unless you can inspect the product in person and ensure its authenticity.
Sales pressure – If the seller creates a sense of urgency by warning that the item won’t last long or many others are interested, take your time and think it through. Creating urgency is a technique to get you to act on impulse instead of logic, and it could lead you to overlook something suspicious.
Fake profiles – Keep an eye out for telltale signs of a false profile, like a generic profile picture, only one friend or connection, or a profile name that does not match the name or email address on the invoice.

Slow Down, Ask Questions

When it comes to making safe marketplace purchases, remember to slow down and ask questions. If you detect suspicious activity, report the user to your marketplace platform.

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.