Fraud Center

When it comes to money, you always want to learn more, save better and spend wisely…in other words, make a “new you.” But that doesn’t mean you want a literal “new you” running around out there!

As a reminder, Southwest Financial will never ask you for your personal or sensitive information, including social security number, username, password, or one-time passcode (OTP). When you share your information, you are giving fraudsters all the tools they need to access your account.

If you receive a call or text that looks suspicious, do not call the number or click a phone number link. Contact us immediately.

Identity Theft

Identity theft happens when a criminal steals your personal information and uses it for their own gain. That might mean someone uses your social security number to apply for a loan in your name. Or it could simply mean a stolen credit card or debit card number.

Whether a big or small situation, dealing with ID theft is stressful and financially harmful.

To keep any Southwest Financial member from going through hardship, here are some tips on protecting your personal information:

Don’t share your social security number with callers, email senders or friends. You should always keep your social security card in a safe place, instead of your wallet or purse.

Keep your credit and debit card with you as much as possible and hide its number from view when you can.

Guard your mail. eStatements are a more secure and safe way to receive financial account statements or any billing statements, and they’re environmentally friendly. If mail is not properly shredded, it could lead to stolen personal information.

Create strong passwords and use two-factor authentication on your accounts. Do not use the same usernames and passwords for all accounts, this helps prevent account takeover. Also, don’t select to remember the device if the option is prompted. These security measures make it more difficult for a hacker to steal information online.

If you are notified of a compromise, change your information with that company and every company that shares the username and/or password.

Check your credit reports at least once every four months for any unusual changes. Strange drops in your score or inquiries you don’t know about are signs of ID theft. Freeze your credit immediately to prevent any further damage. A free credit report is available annually at annualcreditreport.com. If you pull one bureau every four months, you’ll have a continuous rotation of free credit reports each year.

If you think your card numbers have been stolen, call us immediately at 214.630.7111! You can also report identity theft to the Federal Trade Commission or contact the credit bureaus to freeze your credit.

Access a free copy of your credit report.

Scams

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Romance Scams

Situation:

You meet someone online or on a dating app who expresses strong feelings for you quickly.
Despite their strong feelings, they only want to chat online – not meet in person.
After gaining your trust, they ask for money, gifts or your banking information.
They become more desperate and persistent if you don’t send what they need immediately.
If you do give them money, they keep asking for more.

Preventing the Scam:

Avoid accepting social media friend requests from people you don’t know in person
Check a romantic interest’s profile photo using Google’s image search. If it shows up somewhere else with a different name, it could be a scammer.
Don’t send money, gift cards or any other form of payment to a person you’ve never met in person.
Don’t keep your relationship a secret. Tell family and friends so they can help you look for inconsistencies.
Be suspicious of someone who claims to want to meet in person but never shows up.

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AI Voice Scams

Situation:

The voice on the phone sounded like my daughter. She said she was in an accident and arrested. Then a lawyer called to tell me how to send bail money.

Preventing the Scam:

Scammers just need one clip of a loved one’s voice to impersonate someone on the phone. Before you send money:

Hang up and call the person back on a number you know to be theirs.
If you can’t get in touch with that person, call their spouse, best friend, or someone else who knows them. Or call the police station to verify the incident.
Think twice before posting videos on social media. That’s where scammers get voice clips.

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Computer Virus/Tech Support Scams

Situation:

You get a pop-up on your computer or a phone call claiming there’s an issue with your device.
You’re instructed to provide remote access to your device or download an app to fix it.
The scammer now has access to your personal information or they install malware and demand payment before they’ll remove it.

Preventing the Scam:

Do not click on links in pop-up boxes claiming you have a virus. Close out of them.
Be cautious about downloading unfamiliar apps to fix issues or granting device access to anyone you don’t know.
Run a full system virus and spyware scan and power off the device.
Google how to do this or consult a reputable antivirus company like McAfee or Norton.

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Accidental Payment Scams

Situation:

A stranger sends you money on a payment app.
Someone posing as your friend or family member sends you money on a payment app.
You receive a message from the sender saying they sent it accidentally and to please pay them back immediately.

Preventing the Scam:

Scammers usually make these payments using stolen credit cards, which means the amount will be removed from you account even after you pay it back to the person who sent it.

If it’s a friend or family member, contact that person outside the app to see if it’s legit.
If it’s a stranger, tell them to go through the app to get their money back.
Report this situation to the app as suspicious activity.

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Bank Impersonation Scams

Situation:

A scammer calls or texts pretending to be from your bank and or credit union and tells you to send money to another account with a wire transfer.
Sometimes the reason they give is to reverse fraud on your account.

Preventing the Scam:

Your bank or credit union will never ask you to wire money to yourself for any reason.
Hang up and call the financial institution claiming to be on the line.
Tell the agent your situation and ask if anyone from the institution has contacted you.
Most likely the answer will be no.

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Crypto Currency Scams

Situation:

Someone posing as an investment advisor lures you into setting up accounts on an online investment platform with the promise of fabulous returns. Unfortunately, the platform is a scheme that is actually paying returns from money put in by other investors.

Preventing the Scam:

Understand the risk. The virtual currency trade is unstable and not regulated by the government.
Don’t give in to people who tell you to buy right now or miss out.
Run a background check on any contract or company before you buy using this CFTC background check tool.
Read all agreements with a digital wallet provider to see if they replace your money if you are scammed. Most do not.
Research the “investor” trying to get your investment business by their first and last name and their business name.

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Fake Ad and Hard to get Merchandise Scams

Situation:

An ad on social media had your favorite brand at 75% off. Or…
They were the only place that still had this item in stock – and at a discount.
They asked me to pay with a gift card, cryptocurrency of digital payment app.

Preventing the Scam

If an offer seems too good to be true, it probably is.

Don’t click on the ad. Go to the brand’s website by typing in the URL. If the deal isn’t there, it might be a scam.
Never pay with gift cards or cryptocurrency.
Never leave the site to pay in a separate app.
Pay with your debit or credit card for added protection in the event of scam.