Cybercriminals don’t just target inboxes anymore. Many of today’s scams happen on social media, through online marketplaces, and even through paid advertisements that appear on trusted websites and platforms.
Knowing how these scams work can help you better protect your money, personal information, and financial future.
It’s easy to assume that an advertisement appearing in your social media feed has been verified, but scammers frequently use paid advertisements to reach potential victims.
Be cautious of ads that:
Before making a purchase, sharing personal information or sending money, take a few minutes to independently research the company and verify that you’re dealing with a legitimate business.
Remember: Just because an ad appears on a trusted platform doesn’t mean the advertiser can be trusted.
Some scams begin with something much less suspicious: a conversation.
Scammers often create fake profiles using stolen photos and convincing stories to build relationships online. They may pretend to be public figures, investment experts, a member of the military, a potential romantic partner, or even someone who shares your interests.
Over time, their goal is to gain your trust before asking for:
Be especially cautious if someone you’ve only met online begins discussing money, investments, or financial hardship. If something doesn’t feel right, trust your instinct and cut off communication.
Urgency is a common tool used by scammers. They want you to act before you have time to think, research or verify what you’re being told.
Before sending money or sharing sensitive information:
Payment requests deserve an extra level of scrutiny, particularly when the transaction may be difficult to reverse, including wire transfers. Always independently verify the recipient and payment instructions before completing the transaction. Don’t rely solely on contact information or instructions provided in an email, text message, direct message or online advertisement.
A few extra minutes spent verifying information could prevent a costly mistake.
Protecting yourself from fraud often means slowing down before you act. Take the time to verify requests, confirm information, and think carefully before sharing personal details or sending money.
However, if you believe you’ve shared personal information, account credentials, verification codes, or sent money to a fraudster, take action immediately.
Contact Southern Energy Credit Union as soon as possible so we can help review your accounts, secure your access, and discuss any available options to help minimize potential losses. You should also closely monitor your accounts and credit reports for unusual activity and report any suspected fraud promptly.
Scams will continue to evolve, but one of the most effective ways to protect yourself remains simple: pause, ask questions and independently verify before you act.
Read more digital banking security tips here.
Many of today’s scams are on social media, through online marketplaces, and even through paid advertisements that appear on trusted websites and platforms. Read our tips to make sure you’re prepared to spot a scam.
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