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Know the Red Flags

Posted in Fraud Prevention

Every day a new scam emerges. Every day more people fall victim to them.  Though the scams change frequently, the constant is that the bad guys are trying to trick you into giving away a valuable commodity, your information.

Knowing the red flags to look for can help protect you from becoming a victim. Protecting your information is the key to protecting yourself.

Our goal at Meridian Trust is to provide our members the tools that they need to protect themselves and to protect their money. We want our members to thrive financially and to be a partner in their financial journey.

This newsletter is intended to bring attention to scams and fraud Meridian Trust is seeing in the market. We also want to help  you to identify warning signs and red flags to help you identify potential scams.


Red Flags

There is no “one size fits all” scam. Fraudsters know that they need to try different tactics in order to successfully steal people’s hard earned money and information.

  • A merchant or company you work with (I.E. Amazon, PayPal, Apple) needs you to verify your payment information to unlock your account.
  • A “friend” sends you a message on social media requesting funds. They may offer to send you a check to cash and you can keep some of the money.
  • You buy/sell something online and the other party pays/overpays you and you need to send money back.
  • If it sounds too good to be true, it probably is! There aren’t very many things in life that are going to make you a quick buck. If someone is offering you something that sounds like an easy way to make some cash and doesn’t involve much effort, it is probably a scam.


Trending Scam- Windows 10 Upgrade

Cyber Criminals are trying to capitalize on the great momentum of Windows 10, with nefarious email, web, and phone scams directing customers to install ransomware and other malware.

Microsoft does not initiate calls to customers to assist with Windows 10 installation or technical support, no do they send emails with installation files attached.  If you have been contacted by telephone of have received such emails with attached installation files, consider these fraudulent and do not share your personal information or open the attachment.

Examples of Scams by Cybercriminals

  • A fraudulent email providing you a link or attachment that claims to start the Windows 10 installation process.
  • An unsolicited internet pop-up attempting to guide you through the installation process.
  • A phony call from someone posing as a Microsoft employee, who offers to assist with an upgrade to Windows 10 or to “help” with any other Microsoft product.


How to Protect Yourself

  • Never give your card or account information out to anyone unless you intend for a purchase to be made.
  • Do not share the code we send to validate your account log in. We will never ask for that code and it will allow access to your online/mobile banking profile.
  • Do not deposit checks for anyone and send them money with the promise you get to keep some of the funds.
  • Do not share your personal information such as Social Security Number or Date of Birth.
  • Do not click links in emails you are not expecting or call the number on an email stating your account has been blocked or information compromised. Always use known websites and phone numbers to contact those businesses-look up the contact information yourself.
  • Don’t answer calls from an unknown number; if it s a true call, they will leave a voicemail.