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What is Cybersecurity?
Cybersecurity involves any activities, people and technology you use to avoid security incidents, data breaches or loss of critical systems. It’s how you protect yourself against digital threats. Effective cybersecurity prevents damage to your systems and keeps your accounts safe despite any threats that come its way.
Common Types of Cyber Crimes
Making sure you have updated anti-virus software on your devices is one way to keep your information and finances secure. You must also be on the lookout for suspicious requests via phone, text, or e-mail. Here are some of the more common types of cyber crimes and how you can avoid them.
Scammers send an email, text, or message on social media that appears to be from a legitimate business and lure you into providing your information by visiting a website that looks almost identical to the real one. Once you click the link, you may be asked to provide sensitive information for verification purposes, such as your Social Security number, login credentials, mother’s maiden name, or place of birth. Once the information is provided, scammers use it to access your accounts to steal money or sell your information to other scammers.
Businesses and financial institutions would never call you first to verify your account information or to ask for sensitive information. DO NOT click links in emails or messages. If you believe the contact may be legitimate, contact the business or visit the official website yourself. Never provide your personal and sensitive information in response to an unsolicited request over the phone or the Internet. If you feel suspicious of or fall victim to Phishing, alert the situation to your credit union and other financial institutions and file a report with FTC.
Scammers deliberately falsify an email address, sender name, phone number, or website URL and manipulate you into believing that it is from a trusted source. Once you seem engaged, they lead you to download malware, send money, or share personal, financial, and other sensitive information. Spoofing is often used in connection with other crimes.
Scammers tweak little things – often a letter, symbol, or number. DO NOT click on or download anything unless they are verified to be from legitimate sources. Additionally, if a call comes from an unknown number or the caller (or a recording) asks you questions or to hit a button, DO NOT hang on, just hang up.
ATM skimmers are illegal devices installed on ATMs, gas pumps, and payment terminals that capture your pin number. To protect your card information, check an ATM or payment terminal for tampering before using it. Perform a visual examination and physically test the machine for loose or unusual parts. There is no foolproof way to detect a skimmer, but with safe ATM habits, you can reduce your risk.
Ransomware is a type of malicious software, or malware, that prevents you from accessing your computer files, systems, networks, or cell phone. Malware is installed in various ways, including through links and attachments in emails, downloads from malicious websites, or removable drives. Criminals hold your data hostage until the ransom is paid or pressure you for the ransom by threatening to destroy or release your data to the public.
One way to prevent or minimize the risks is to conduct system and software scans using anti-virus and anti-malware programs. You can also make an offline backup of your data and update your operating systems and software on your devices frequently. If you fall victim to this crime, file a report regardless of whether you have paid the ransom or not.
How to Protect Yourself
Despite how common cyber threats are, there are steps you can take to protect yourself. Make sure you have up to date anti-virus software installed on all of your devices and use strong passwords and multi-factor authentication. Use credit cards with chips when practical, as they tend to offer more protection than debit cards. Keep track of your purchases and monitor your statements and alert you card issuer if you notice suspicious activity. You can also freeze or lock your credit with the credit bureaus to keep access to that information very limited.
Report a Cyber Crime
Internet-related crime, like any other crime, should be reported to appropriate law enforcement authorities at the local, state, federal, or international levels, depending on the scope of the crime. Because the scope of these crimes can vary, you may need to contact more than one agency. The most common agencies and how to report are listed below.
The Internet Crime Complaint Center
The Internet Crime Complaint Center provides the public with a reliable and convenient reporting mechanism to submit information to the Federal Bureau of Investigation for suspected Internet-facilitated criminal activity. If you are the victim of a cyber-enabled crime or fraud, file a report with the Internet Crime Complaint Center (IC3) as soon as possible. Rapid reporting can also help support the recovery of lost funds.
Your Credit Union
If your account with your credit union has been compromised, contact your local branch first. If that is unsuccessful submit a complaint via the Consumer Assistance Center to determine next steps.
Frequently Asked Questions
Common Credit Counseling Scams include the following.
- Upfront Fees – Scammers often demand large upfront fees before providing any services. Legitimate credit counseling agencies typically do not charge significant fees upfront.
- Overpromising – Fraudulent companies may promise to erase accurate negative information from your credit report, which is not legally possible.
- Lack of Transparency – Scammers may not explain your rights or the details of their services clearly. They may push their own programs without considering your specific needs.
- Complex Contracts – Contracts that are difficult to understand or filled with legal jargon can be a red flag. Legitimate services should provide clear and straightforward agreements.
Common debt relief scams include the following.
- Guaranteed Debt Elimination – Scammers may guarantee complete debt elimination, which is unrealistic. No company can guarantee that creditors will agree to settle for less than what you owe.
- Upfront Fees – Similar to credit counseling scams, debt relief scams often require significant upfront fees before any services are rendered.
- High-Pressure Tactics – Scammer may use high pressure sales tactics to rush you into signing up for their services without giving you time to consider your options.
- False Claims – Some scammers falsely claim they can negotiate with creditors to reduce your debt significantly, but they either do nothing or provide minimal assistance with charging high fees.
If you are asked to provide financial information, it may be a scam. Exercise caution with any phone calls, text messages, or emails that claim to be from your credit union, law enforcement, or your phone service provider, especially if they ask for personal or financial information or prompt you to transfer money to a different account. Legitimate credit unions and other institutions will never solicit such details or request these kinds of transfers from you. If you receive such a call, note the department they claim to be from and return the call using the number you have for your credit union on file. Be aware that scammers might supply a number that connects you to another scammer impersonating a credit union employee.
Using your phone for online banking raises several security concerns.
- Phishing – Cybercriminals may send emails or texts that seem to come from a trustworthy source, but their true goal is to deceive you into clicking on a harmful link or providing personal details.
- Insecure data storage – Some apps may save sensitive information such as login credentials and transaction records on your device. If this data is not properly encrypted, it could be accessed by malicious individuals.
- App vulnerabilities – Although mobile banking apps are typically safer than using a web browser, some developers might not adequately address the risks of fraud and money laundering during the development process.
- Coding errors – Errors in coding can introduce vulnerabilities that disrupt an app's functionality, potentially leading to unintended issues.
Consider installing a virus scanning tool on your phone and computer. Ultimately, it's important not to save your online passwords on your phone. Additionally, consider implementing multiple layers of identification, such as using a password along with having the credit union send you a PIN via text.
If you experience property damage due to a disaster, you should contact your insurance company as soon as possible to verify that you have coverage and start the claims process. This will probably involve you taking an inventory of damaged property and providing the insurance company with available photos or video to prove the validity of your claim. Contact your creditors including mortgage servicer and utility companies to see what options are available to reduce or delay payments, prevent foreclosure, loss of service and derogatory credit reporting. Disaster survivors can also contact the Federal Emergency Management Agency (FEMA) to apply for assistance at 800-621-3362 or their website at FEMA.GOV.
Unfortunately, it’s common for scammers to prey on victims of disasters because victims are extremely vulnerable and sometimes desperate to receive assistance. Some examples of this include:
- Contractor Fraud – Unethical contractors sometimes misrepresenting themselves as being affiliated with government entities will scam victims out of funds resulting in shoddy repairs or no repairs at all.
- Price Gouging – The practice of increasing prices of high demand goods and services during a disaster.
- Forgery – Scammers will use a disaster as an opportunity to get access to victims’ personal information and documents to commit identity theft.
- Charity Fraud – Scammers posing as representatives from notable charities including the Red Cross will solicit funds from donors who want to help those affected.
If you are a victim of a scam, you can contact the National Center for Disaster Fraud (NCDF) 24 hours a day. 7 days a week through their hotline number 866-720-5721.