Fraud Prevention

Romance Scams:

Online dating scams are of the most common scams out there. Scammers know millions of people using online dating sites. They are there, too, hiding behind fake profiles.

Here are some signs of a scam:

• Professes love quickly. Claims to be overseas for business or military service.
• Asks for money, and lures you off the dating site.
• Claims to need money-for emergencies, hospital bills, or travel.
• Plans to visit, but can’t because of an emergency.

How to protect yourself:

1. Slow down – and talk to someone you trust. Don’t let a scammer rush you.
2. Never transfer money from your bank account, buy gift cards, or wire money to an online love interest. You won’t get it back.
3. Contact Meridian Trust FCU right away if you think you’ve sent money to a scammer.
4. Report your experience to:
   • The online dating site
   • Federal Trade Commission: ReportFraud.ftc.gov

Medicare Scams:

Scammers may sound professional, say they’re from Medicare, and have your personal details. But in reality, they’re trying to steal your money, Medicare information, or your identity. Here’s hour to spot potential scams and what to do:

• Don’t trust the name displayed on your phone. Scammers can fake a caller ID.
• Hang up if anyone calls and asks for your Medicare, Social Security, or bank or credit card information. Legitimate Medicare employees have your Medicare number on file.
• Don’t be rushed into making a decision. You have until December 7 to enroll, and Medicare doesn’t offer extra benefits for signing up early.
• Ignore threats to take away your benefits. If you qualify, your benefits can’t be taken away for not signing up for a plan.
• Don’t talk to anyone that suggests their plan is preferred by Medicare. The truth is that Medicare doesn’t endorse a specific plan.
• Visit the Eldercare Locator or call toll-free 1-800-677-1116 to find local resources that can give you more information about the different Medicare plans available.

To report someone pretending to be affiliated with Medicare and other Medicare scams, call 1-800-MEDICARE (800-633-4227) and tell the FTC at ReportFraud.ftc.gov.

Fraud continues to rise and the older population is often targeted by scammers. Be aware of these types of scams to keep you or an older relative safe:

• Phishing emails and messages
• Fake charity appeals
• Utility scams
• Romance scams
• Investment scams
• Prepayment scams

Signs of fraud sometimes include pressure for immediate action (quick payment or decision-making which can prevent someone from seeking advice) or a request for untraceable payment methods including: gift cards, cryptocurrency, digital or mobile payment services, etc.

When tax season is in full swing, many people fall victim to scams about owing the IRS money. Learn more about several tips to help you avoid being scammed.

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.

Bad actors often coach consumers to withdraw large sums of cash and deposit it into a Bitcoin or cryptocurrency ATM. Victims are falsely told this step is necessary to “keep their funds safe.” In reality, the funds are quickly transferred and are difficult or impossible to recover. Read about Crypto ATM Scams.

Meridian Trust FCU will never ask you for any personal information, including any account information or Social Security number via email. Email is a responsible way to deliver product and service offers, regulatory information and rate updates, but beware of all emails that go beyond this type of communications.

You need to shred financial documents that you no longer need, otherwise identity thieves can steal them from your trash. Protect your privacy with Meridian Trust’s Free Shredding Service.

As a Meridian Trust member, you can bring up to 25 pounds of confidential, personal documents to either of our Cheyenne locations for free document shredding.

So what should you shred? Here’s a list of where to start:

• Credit union statements
• Credit card statements
• Monthly bills
• Cancelled checks
• Blank checks
• Investment information
• Financial statements
• Medical records
• Income tax records
• Credit reports
• Credit card offers

Really, you should shred anything you wouldn’t feel comfortable having someone pick up and read. Criminals need very little information to steal your identity, and once your financial information hits the trash, your identity is floating around waiting to be stolen. Shredding is a free, minimal inconvenience compared the costly, time-consuming and worrisome process of having your identity stolen.

But how long should you keep documents? Here are some general guidelines for you:

• Keep any tax-related records for seven years
• Keep records of IRA contributions permanently
• Keep quarterly retirement/savings plan statements until you receive an annual statement. If the numbers match, shred the quarterlies and keep the annual summaries permanently.
• Shred unimportant credit union records after one year; keep the rest permanently
• Keep brokerage statements until you sell the securities
• Most of the time you can shred bills once you get a cancelled check. Keep bills for big items permanently.
• Keep credit card receipts to reconcile with your statements, then keep the statements for seven years
• Paycheck stubs should be kept until you receive your end-of-year tax statements
• Keep house records permanently

https://ftc.gov to file a complaint
BBB.com to review businesses and file complaints
https://www.ic3.gov/ to file complaints related to internet crimes
BBB.com to review businesses and file complaints
IRS 1-877-438-4338
Credit Bureaus:
Experian 888-397-3742
Equifax 800-685-1111
TransUnion 800-916-8800
Opt Out Numbers 888-567-8688 (credit offers)
Go to DoNotCall.gov or call 1-888-382-1222 (TTY: 1-866-290-4236) from the phone you want to register. 

Learn more about other scams to protect yourself and fight fraud by visiting this website:
https://www.aarp.org/money/scams-fraud/?intcmp=GLBNAV-SL-MON-CONP