scam

Beware Of Banking Scams

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Scammers never take a break. They’re always dreaming up ways to con you out of yourImage of man using computer money. Recently, there’s been a significant uptick in scams involving checking accounts at many financial institutions.

In these scams, criminals will utilize social media to connect with the victim.

They usually pose as representatives of a bank or credit union and milk the victim for sensitive information, like account numbers and passwords. Since the scammers are using the credit union’s social media accounts, the victims often won’t hesitate to share this information. When the scammers have what they need, they will proceed to empty the victim’s accounts and then disappear.

Often, when the scammers receive a response from the victim on social media, they will redirect the victim to what appears to be the financial institution’s website. The victim, thinking they are on the site they frequently use, will quickly input their username and ID, which the scammers will then use to empty their accounts or open credit cards in the victim’s name.

Sometimes, the scammers will impersonate helpful member representatives who are seemingly looking to answer your questions. You’re used to our representatives being helpful and always on call to assist you, so you won’t see anything strange with the scenario.

Other times, the scammer may claim your account has been compromised and you need to immediately update your information. They’ll be oh-so-helpful with this step. Until you share your information with them, that is.

Still other times, scammers will pose as representatives of a sweepstakes or some other contest that you’ve “won.” All you need to do is share your account information and your passwords to be made into an instant millionaire! Except that, of course, you won’t.

Don’t be the next victim! Be aware and be alert. Here’s what you need to know about this scam:

1.) Check URLs

Scammers are becoming increasingly more suave at posing as companies their victims are familiar with. You can check a site’s authenticity by double-checking the URL on the web address. Make sure it matches Destinations Credit Union’s site exactly. You can also check a site’s security by looking for the “S” after the “http” on the web address.

2.) Be suspicious

Awareness can be your best protection. It’s easy for a scammer to pose as a member representative on social media, but if you’re on guard, you’ll spot these fakers. Is a representative claiming there are problems with your account when everything seems to be in order? Are they asking you to share sensitive information through insecure channels? Is someone promising you’ve won a contest you’ve never entered? If things don’t add up, it’s best to opt out.

3.) Reach out to your credit union

It may be difficult to determine whether the people you’re talking to are the real thing. If you think you’re dealing with Destinations Credit Union but things suddenly start looking fishy, there’s a simple solution. Hang up or log out of whatever medium you’re engaged in and call Destinations Credit Union yourself. You can always reach out to us at 410-663-2500. This way, you’ll know you’ve really reached us and you’re not being scammed. Be sure to call this number and never use another number suggested by a suspicious-acting “member representative.”

4.) In case of fraud, take action

If you suspect you’ve been taken for a ride, let us know as soon as possible. The sooner you catch a scam, the better off you’ll be. We’ll also be able to alert our other members and work on catching the crooks who’ve conned you.

It’s also a good idea to let the Federal Trade Commission (FTC) know about the scam. The more information you share, the easier it will be for the feds to nail those scumbags. Contact the FTC at FTC.gov.

5.) Protect yourself

It’s a good idea to practice basic safety and protective measures with your accounts.

Here’s how:

  1. Safeguard account details: Never share account information without being certain about who you are talking to.
  2. Use good password hygiene: Use complex passwords and change them often. Be sure to use different passwords for each of your accounts.
  3. Choose extra protection: Opt in for two-factor identification when logging into your accounts. That’s an extra level of protection for you and another hurdle for scammers to scale.
  4. Set up alerts: Choose to receive an email or a text message when transactions on your account exceed your typical level of spending.
  5. Monitor your accounts: It’s a good idea to check your accounts on a regular basis, and with our mobile app, this is now easier than ever. In most cases, you will be responsible for fraudulent charges on your account if you report them more than 60 days after your monthly statement is delivered.

SOURCES:
https://www.google.com/amp/amp.timeinc.net/fortune/2016/11/11/social-media-cyber-scam 
https://money.usnews.com/money/blogs/my-money/2015/01/23/5-scams-that-target-your-bank-account 
https://www.cnbc.com/2017/05/12/this-growing-fraud-will-drain-your-bank-account.html 
https://www.infosecurity-magazine.com/news/social-media-phishing-attacks-soar/ 
https://www.advantiscu.org/fraud-prevention/beware-of-phishing-scams-in-social-media.html

How To Spot A Credit Repair Scam

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Repairing your credit can be an uphill battle. You’re looking at months of hard work, headache billsnegotiating with creditors, reworking your budget and identifying the factors that are making your credit score lag. In short, it’s a hassle and it takes lots of time.

Those two aspects are what makes credit repair scams so successful. They know you’re looking for a quick way out, and they’re offering it to you on a silver platter. Unfortunately, when they’re done with you, not only will your credit score be just as low as when you started, but you’ll also be out hundreds or thousands of dollars, and may even be facing criminal charges.

There are legitimate credit repair companies, but without educating yourself, finding them instead of the scammers who only want your money can be tricky.

Here are the most common warning signs of a credit repair scam:

1.) Demands upfront payment

Know your rights. Under the federal Credit Repair Organizations Act, credit repair companies are forbidden to request or receive payment until they’ve completed the services they’ve promised. If a company is demanding upfront payment, it’s surely a scam.

2.) Makes big promises

To lure you into their trap, many scammers make wild promises about your credit score. They may assure you that they can remove negative information from your credit report, even if that information is accurate and current. Don’t believe them; no one can do this.

They might also promise to boost your score a huge amount in just a few weeks or less. This, too, is absolute hogwash. You will never see an improvement on your score until at least 30 days has passed since you’ve taken action.

3.) Promises to help you create a “new credit identity”

This red flag should alert you to one of the most devastating credit repair scams possible. In these scams, companies promise to create a new credit identity for you in exchange for a fee. After you cough up the money, the company will provide you with a nine-digit number that’s similar to a Social Security Number. They may refer to this number as a CPN – a credit profile number or a credit privacy number. Alternatively, they may direct you to apply for an EIN – an Employer Identification Number – from the IRS.

Once you have your new number, the company will instruct you to use this form of ID to apply for credit. They assure you that the process is legal. In reality, though, it’s not – and you’ve just been scammed.

These companies are actually selling you a stolen SSN, often one belonging to a child. They walk away with the money you paid them, while you are stuck in a far deeper hole than when you first contacted them. It is a federal crime to misrepresent your Social Security number, to obtain an EIN from the IRS under false pretenses and to lie on a credit application.

Falling for a credit identity scam could mean facing fines or prison time. If you come across a credit repair company offering you a new identity, run the other way and don’t look back (and report them to the authorities)!

4.) Tells you not to contact the credit reporting agencies

Every U.S. citizen has the right to a complimentary report from the three major credit reporting agencies every year. If a company advises you not to contact these agencies directly, they will probably charge you for obtaining the report on their own. In other words, you will be paying for a free service.

5.) Tells you to dispute accurate information on your credit report

Disputing accurate information on your credit report is dishonest and illegal.

6.) Is evasive about your legal rights and their services

The Credit Repair Organization Act made it illegal for credit repair companies to lie about your legal rights and about their services. This law is enforced by the Federal Trade Commission (FTC). To comply with this law, credit repair companies are required to explain:

  • Your legal rights and clear details in a written contract of the services they’ll perform
  • Your three-day right to cancel the contract without charge
  • The anticipated amount of time it will take until results are evident
  • The total cost you will need to pay for their services
  • Their guarantee

If you’ve already hired a credit repair company and they haven’t lived up to their promise, you still have options.

You can choose to sue the company for your losses in federal court or seek punitive damages – money to punish the company for violating the law. You can also find other victims so you can band together and file a class action lawsuit against the company.

To protect others from falling prey to the same scam, it’s best to report it to your local consumer affairs office or to your state Attorney General.

It’s also advisable to file a complaint with the Federal Trade Commission. The FTC cannot resolve individual credit disputes, but it can take action against a company for multiple law violations. You can file your complaint online at ftc.gov/complaint or call 1-877-FTC-HELP.

Finally, if you’re in financial trouble of any kind, we can help! Stop by today to ask about our free credit counseling services and assistance with creating and sticking to a budget. [We even offer debt consolidation loans, providing you with the opportunity to transfer your debt to one low-interest loan, making the prospect of paying down your debt a lot more manageable.]

Your Turn: Have you been targeted by a credit repair scam? How did you spot the scam? Share your experience with us in the comments!

SOURCES:
https://www.consumerfinance.gov/ask-cfpb/how-can-i-tell-a-credit-repair-scam-from-a-reputable-credit-counselor-en-1343/
https://www.consumer.ftc.gov/articles/0225-credit-repair-scams
https://www.thesimpledollar.com/dont-fall-for-these-credit-repair-scams/
https://www.lexingtonlaw.com/blog/credit-repair/is-credit-repair-a-scam.html 

Pay For Delete Scams

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You may already be checking your credit report regularly and you might have developed the habit of challenging or reporting any suspicious activity. But what do you do with a stubborn charge that won’t go away? You know you shouldn’t have to pay it, but for whatever reason, you can’t get it off your report.  You call the creditors in question and they tell you they understand, it’s no big deal and they’ll gladly delete it from your credit report if you pay a small fraction of the charge.  What do you do in that scenario?

For a lot of people, paying a couple hundred dollars is better than the headache or the full amount of the charge. They don’t have to worry about the charge, and they know that over time they’ll more than make up that money in savings on credit card interest charges.  It’s all part of the cost of doing business, they think, so they cut a relatively small check.

For the rest of us, we don’t want injustice to stand.  Or maybe we can think of a better way to spend a few hundred dollars than paying a scammer.  We could put it toward retirement, our kids’ college funds, or buy ourselves a new dress for stepping out on the town. The point is that spending a few hundred dollars on a personal luxury, no matter how frivolous, is still a better idea than spending it on a scam.

Legitimate credit agencies don’t engage in pay for delete schemes. The way it’s supposed to work is that if a debt is reported as being sent to collection, it stays on your credit report for seven years, with certain exceptions, including some medical bills. Often, big credit agencies will sell the debt to smaller ones for less than what is owed, so they can receive guaranteed income, then the smaller agencies are looking to get some amount paid off, generally more than they paid for the debt.

Those smaller agencies are often less scrupulous, and they offer to report the whole debt as a mistake if you pay a certain amount. Sometimes, that amount is the debt in full, which nets them a tidy profit. Other times, it’s a smaller amount.  In theory, this could have a very positive effect on your credit.

However, there’s no guarantee they’ll follow through, nor a reason for them to put the offer in writing, because the process isn’t above board. In addition, if a creditor creates a charge that shouldn’t be there, they’ll often ask for pay-for-delete so they can mark it as removed, making it harder to identify a fraudulent charge after the fact.

Arm yourself with knowledge. Here are three scenarios in which a charge can be removed from your credit report:

  1. You never got the bill (or the bill was for an incorrect amount)– This is pretty obvious, and you shouldn’t have to pay a dime.  Make sure to challenge suspicious charges. If you don’t believe that you incurred a debt, let the collection agencies know. Ask to see evidence of the bill; sometimes the creditor can’t produce it, and they will waive the charge. Make sure to follow up afterward to confirm that the charge was removed.
  2. The bill was for a medical debt – As mentioned earlier, some forms of medical debt can be removed from your record. Double check this with your accountant or lawyer. Make sure you also check with your insurance company so you know they paid as much as they were obligated. Ask the medical provider for a detailed, itemized bill, then ask your insurance company for your explanation of benefits (EOB). At a minimum, show the EOB to your medical provider to make sure they’re billing correctly. Every case is different, so be detail-oriented, write down everything the provider and insurer tell you, and seek help from a professional. A single medical bill can be worth 25 points on your FICO score, so it pays to follow through. Remember, a creditor is not a medical provider, so they will have much less freedom to rework old bills, which is why they may be more interested in pay-for-delete. 
  3. It’s a small-time creditor – This is where the line between good security and under-the-table scam starts to blur. Small-time creditors want the revenue and they’re going to be more likely to offer shady practices in exchange for money. Make sure to get everything you can in writing, and be suspicious. If they’re unscrupulous enough to try pay-for-delete, then they probably didn’t do all of their due diligence to find out if you paid the bill. Ask for evidence. Make sure you really owe the money. Be persistent; this is real money that you can spend in better ways than on scams.

It’s important to stay on top of your credit report, but don’t let that number at the top dictate your life. Yes, you’d like it as high as possible, but that’s not a reason to give money to scammers.  If you do the work on your end, you can often get to the bottom of these charges, save your credit score, and keep cash in your pocket.


Sources:
https://www.credit.com/credit-reports/the-truth-about-credit-repair/ 
http://www.creditcards.com/credit-card-news/pay-for-delete-shady-credit-report-cleanup-1264.php 

http://www.creditinfocenter.com/debt/pay-for-delete.shtml

Securing Your Phone

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If you spent time on Twitter, CNN, or just about any other corner of the Internet, you might believe that they only thing that happened anywhere in the universe last week was Apple’s product announcement on Wednesday. Joined by developers from Adobe and Microsoft, the company showed off a new iPad, new iPhone, and a pencil. That’s right, a pencil.

In all the excitement of a new $70 pencil, it was easy to miss Apple’s discussion of iOS 9, which is to be released September 16. For some, however, that date was surprising, because their phones had been asking them to upgrade to iOS 9 for days. Unfortunately, that update was not from Apple. It was from scammers, hoping to gain access to people’s mobile phones, where we keep all of our secrets. The effects of the attempted scam appear to be minimal so far, but it’s a great reminder to brush up on our mobile security. Here are some quick steps you can take to protect yourself on your phone:
 
1). Always update your software. It can be annoying to find a time to plug in your phone when you’re on Wi-Fi, and sometimes you don’t want to put your phone down for an hour or more while it downloads the most recent operating system. For smaller apps, it can feel like you’re dealing with a new update every other week. What’s the deal? Those apps never seem to add anything useful. 

The reason you get so many little updates is that the apps from major developers are constantly getting security updates. Google and Microsoft update every two weeks, usually with minor bug fixes and security updates, but they’ll update more frequently if security risks dictate it.  It might be annoying sometimes, but the frequency of those updates is the best security you have for the software you use on your phone everyday. 

The biggest security issues are covered by operating system updates. Apple is notoriously slow on OS updates, just like they are with many of their apps, which only serves to make their updates even more important.  When iOS 9 comes out on the 16th, it will be their third major update of the year, which is far more frequent than usual.  If you’re currently running anything before iOS 8.4.1, your security is out of date, and only going to be more antiquated next week.  Take the time to update–it’s worth it. 

2). Think about the Wi-Fi you connect to.  If you’re still on a restrictive data plan – and with the price of mobile data being what it is, no one would blame you – you understand the relief that finding the open Wi-Fi connection of a fast-food restaurant or coffee shop can provide.  But that relief might be misguided.  After all, that barista – the one with the tattoos, piercings, and boho sense of cool – isn’t an IT specialist.  It’s unlikely they get paid much more than minimum wage plus tips, and that kind of salary doesn’t attract tech-savvy security experts.  When was the last time the router was replaced? When did they last update the firmware or check the network for viruses?  You’re about to connect your phone, which may be the most expensive object on your person, the object you use the most often, and the most irreplaceable tether to your family and friends to a network whose security is at best questionable and at worst far from safe. If all you were planning to do was check social media or the box score of last night’s game, you might want to just stay on your LTE or 4G network.  If you were going to do anything more private, whether it’s email, banking, or shopping, you definitely want to consider whether that coffee shop wi-fi is a good idea. 

3).  Reconsider what you do on your phone.  If you had a time machine and could show your smart phone to a younger you from the 1990s, the younger you would be stunned.  If you were into grunge music, you might use Spotify or Apple Music to explain that you now carry every song ever recorded in your pocket at all times.  If you spent the 1990s rollerblading, you might pull up MyFitnessPal or Nike+ to show how you can track your heart rate, calories burned, and steps taken every day.  If you spent the 1990s in an office, you might pull out Excel or PowerPoint to explain that, well, basically it’s the same thing, but on a smaller screen.  The next thing that would happen, though, is that they younger you would ask what else you use it for everyday.  You’d explain messaging and email, but when you explained mobile banking how would you react? 

If you told your younger self that you had a personal computer in your pocket at all times, and that you put your most private secrets in it – from medical information to intimate conversations with your romantic partner to your financial data – which you then sent out into the world through an invisible network (which you don’t understand), which then ran your secrets through servers (in a location that you don’t know), before traveling through another hard-wired network (that you can’t explain) to your financial institution or investment firm, where the information immediately reversed course and came back to you over the same mysterious connections…If you told that to your younger self would they be impressed?  Or would they smash the phone on the ground and slap you in the face for your stupidity?  How can you trust your secrets that way?  Why are you putting all of that information in one place? 

If you want to protect your information online, you need to use the kinds of software that are built with security protocols and frequent updates.  With Destinations Credit Union Mobile Banking, we have found the best software security providers in the business and built layer after layer to protect your information.  We’re not interested in disappointing the 90’s version of you, who still believes that there’s a difference between public life and private life.  We want your information safe and secure. 

Our app also lets you deposit checks with your camera, make transfers, track your spending, report fraudulent activity, or do virtually anything else you could do in our brick and mortar locations.  Most importantly, it’s still us on the other end – a neighborhood credit union that puts service for members ahead of profits, so you know we’re not going to cut corners on security.

Destinations Credit Union is also in the process of a major upgrade to our mobile app which will include many more features, including bill payment! 

Sources:

http://www.theverge.com/2015/9/9/9245073/apple-ios-9-download-release-date-iphone-upgrade 
http://www.ibtimes.co.in/ios-9-beta-3-release-hoax-twitter-user-stages-act-catch-fake-apple-employee-638572 
http://money.usnews.com/money/personal-finance/articles/2015/01/13/10-ways-to-keep-your-phone-safe


Your Greatest Strength Might Be Your Greatest Weakness

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We’ve all had that moment when we were shopping on eBay at 3 a.m. and spotted the deal of the century -an Omega Speedmaster Moonwatch for just $100? That’s the watch that’s been on the moon! Then we realize the price is too good to be true when we see that our newest find will ship from the other side of the planet and the listing features mysteriously blurry photos that obscure key details. Maybe that Moonwatch spelled Saturday with a “B,” because some scams are really easy to spot.  We’ve all seen the scam and after catching ourselves, we’ve all asked ourselves the same question:  Who falls for this garbage?

From behind a computer screen, spotting a scam is as easy as a stroll in the park on a beautiful Saturbay afternoon.  What investigators have realized is that it gets much tougher when fraud happens in person.  In person, all of those skills we’ve developed online go away and we become easy marks.  

The IRL problem

It’s easy to act differently online.  No one knows us there, so we can make up the life we want to live or act without repercussions. Otherwise calm and decent people can become maniacs online if certain topics come up – from vaccinations to the recent play of the local professional quarterback.  For others, the digital world is a place of exploration and indulgence in hobbies that are unavailable offline, as players of World of Warcraft or the thousands of people who left reviews on Food.com’s recipe for ice cubes can attest.  However we change behind the computer, it’s easy to see that we think of ourselves and others differently while online.  Offline, you wouldn’t constantly harass your friends about a farming game, would you?

The same is true when it comes to scams.  When we sympathize with people, we lose the critical distance we need to spot scammers.  If we can connect with a person, we are far more likely to fall for a scam, and talking to them away from the computer increases that personal connection.  

Think about it this way:  The FTC says the most common forms of scams all involve human interaction, not computers.  The most common form of online identity theft isn’t breaking into your credit union — we’re really good at security — it’s phishing, where scammers convince victims to willingly give up their credit card information.  The most common phone scam is the grandparent scam, in which the bad guys use our natural concern for our family to get money out of us. The most common scam ever might be the basis for the modern home improvement scam: using a hard-luck story or the victim’s greed to convince them to pay up front, then never actually do the work.

How to avoid in-person scams

1.) Be wary of surprises and secrets.  Two things that should tip you off right away are really big surprises and really private secrets.  If you won money in a contest you don’t remember entering, you probably didn’t enter it.  If you’re getting a big payday, but you can’t tell anyone about it, you’re probably not getting a big payday at all.  If a company runs a contest, they want to get publicity. If you’ve got contest winnings coming, that company probably made you put down your email address and a bunch more info.  It probably took a while for them to get all of your data.  You’d remember.  Even in old TV shows they understood that surprises and secrets were a bad sign – if a 1960s sitcom hero inherits a mansion from an uncle they’ve never met, you better believe it’s going to be haunted.

2.) Take your time.  If someone needs you to act quickly, that’s often a clear sign of a scam, particularly if the sudden rush is coupled with a surprise as described above.  Scammers understand the power of groupthink – which is what psychologists call that trend among humans to make worse decisions in groups than by themselves – largely stems from an impending time deadline. By denying you time to catch your breath, scammers are trying to rush you into a bad decision and keep you from getting advice from someone with distance and perspective.

3.)  Try to be a robot.  NPR’s “Planet Money” podcast aired an episode covering the danger of our humanity very well.  In it, a banker named Toby convinced dozens of people to help him perpetrate a large-scale fraud simply by telling them his hard-luck story.  He claims that not one of them turned him down.  The case made in the episode is that for each person who heard the story, the ethical decision to commit a fraud and the rational decision to trust a scammer was completely overwhelmed by our sense of sympathy and injustice. Don’t let that be you.  

Hopefully, you’re not going to have to deal with in-person scammers very often. If you do, be sure to contact the FTC here: https://www.ftccomplaintassistant.gov/#crnt&panel1-1 and the FBI here: http://www.ic3.gov/default.aspx 

If you think you may have been the victim of a scam, identity theft, phishing, or any other security threat, let us know immediately.  The sooner we know, the safer your accounts at the credit union.  You can email us at info@destinationscu.org or call us at 410-663-0859.

Sources:
http://www.food.com/recipe/ice-cubes-420398 
https://www.citizensadvice.org.uk/consumer/protection-for-the-consumer/scams/spotting-and-reporting-scams/how-to-spot-a-scam/ 
https://www.fbi.gov/scams-safety/fraud 
http://tvtropes.org/pmwiki/pmwiki.php/Main/OnOneCondition 

http://www.npr.org/sections/money/2012/04/17/150815268/why-people-do-bad-things

The Best RFID-Blocking Wallets For Men

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By the end of the year, you’re going to be carrying some brand new tech in your wallet. That is, if you aren’t already doing so. The major credit card companies have all moved to chip-and-PIN cards, which use Radio Frequency Identification (RFID) to prevent fraudulent transactions and keep your data safe. Unfortunately, the cutting edge technology that makes your transactions more secure at the register also decreases your security everywhere else. That’s because scammers can steal radio signals from the air and use your credit card information and then go on a shopping spree before you know anything’s wrong.

  

When RFID passports were released in the UK, scammers had broken into them within 48 hours. That’s enough to scare even the most tech-ignorant among us.

  

To combat this vulnerability, you need a wallet that can protect your identity by blocking those radio signals, which many new wallets can do by simply adding a layer of metal that goes entirely around your wallet. So many new wallets can protect you from scammers that you might find the choices overwhelming, particularly if you’re the kind of guy who uses a velcro trifold style wallet. We’ll walk you through your choices and pick the best one for each category, based on style, security, and price, because there’s no point in buying a wallet so expensive you have nothing to put in it.

  

Here are our top choices for three very different kinds of wallets:

Front Pocket Wallet in Bison Leather

by Herrington ($49.95)

  

If you don’t carry much cash or the idea of sitting on metal plates bound in leather sounds uncomfortable, you might be in line for a front pocket wallet. Back pocket wallets have been linked to sciatica and other forms of chronic back pain, so carrying a few cards in your front pocket may be the best long-term choice you can make for both your financial and physical health.

Herrington’s front pocket wallet is curved to fit into the front pocket of your pants without bouncing around or disrupting the lines of your outfit. The handsome Bison leather is masculine and stylish, so you won’t be embarrassed to pull it out at a business lunch or on a date.

The wallet is manufactured in Maine out of multiple layers of material that create a Faraday cage for preventing radio signals from escaping and therefore allowing skimmers to get at your cards.  

  

 

The Ridge Wallet ($45-$115)

   

If you want something even slimmer, you may be interested in one of the all-metal wallets that have taken over Kickstarter in the last few years. These wallets wrap your cards in layers of metal held together with a nylon band or screws and look like incredibly modern, wallet-sized Swiss Army knives. Some even have fold-out extensions to hold keys, USB drives or very small pens!

Our choice among the modern, minimalist, metal wallets opts for simplicity. The Ridge Wallet doesn’t have key rings or add-ons, just a simple wallet with a clean look. Ridge offers four different materials ranging from the youthful and inexpensive polycarbonate, which comes in a variety of bright hues, all the way to pricey and indestructible titanium in various shades ranging from gray to black. If you want a wallet sleek and cool enough for Batman, but you don’t want to carry an entire utility belt, you want a black titanium Ridge Wallet.
  

Derrick RFID-Blocking Flip ID Bifold

Manufacturer: Fossil

Price: $45

It’s tough to argue with the classic bifold. With ample room for cards and cash, a classic design certain to fit any outfit, and all the features you’ve always enjoyed, a leather bifold wallet is a traditional men’s accessory that never goes out of style. 
Fossil offers a selection of RFID-blocking wallets that don’t look too technical or modern, with the Derrick bifold at the top of the list for its combination of looks, materials, and price. The RFID-blocking material is sewn into the lining, so you won’t feel like you’re sitting on a phone book, but you’ll still be protected. The Derrick bifold is the kind of wallet you can buy now and not think about for a few decades, which tends to be the way most men buy wallets.  

  

 

Altoids tin

Manufacturer: Altoids

Price: $3

   

If you’re looking for a budget option, or a stopgap security solution while you shop, you can always keeps your cards in an Altoids tin. The thick metal is an effective Faraday cage that offers top-flight security at a price that can’t be beat. Just don’t be surprised if people are quick to comment how fresh your cards smell!
In the end, you’re going to have to decide what matters to you. Unlike other fashion items, you’ll carry your wallet every day, and you probably don’t want to replace it very often. It’s up to you to weigh fashion, security and comfort and come to a decision for your own peace of mind. The only thing you need to make sure of is that you don’t leave your financial information available for motivated scammers to steal.
Please note:  Destinations Credit Union is planning to convert to the “Chip” cards in early 2016.

Sources:

Phony Weight-Loss Products

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More than two-thirds of Americans are either overweight or obese, and scammers hope to profit from the desperation many of us feel to lose weight. The Federal Trade Commission (FTC) warns that a company known as “Sale Slash” has been peddling fraudulent weight loss products, using hacked email addresses to convince readers the products were endorsed by friends or family members.  Those emails often support bogus claims of incredible weight loss results with fraudulent versions of respected news websites and fabricated celebrity endorsements, adding another layer of apparent credibility to their claims.

Weight loss scams old and new 
Weight loss scams are nothing new. In fact, the FTC has been prosecuting false diet claims since 1927.  Further, the word “diet” comes from the ancient Greek word “diatia,” meaning Plato might have been dealing with diet scams while he wrote “The Republic.” In the twenty-first century, the Internet has greatly accelerated the speed and impact of scammer successes by gaining access to wide audiences and making it easy for them to reap large profits. 
The variations are many and the tactics are just as varied. Since 2005, the FTC has brought 82 cases against scammers for using false or unsubstantiated claims about weight-loss products.  Surely there are many others that have gone under the radar and/or are lacking evidence for prosecution. That’s why awareness is a valuable tool for guarding yourself. Diet experts and government agencies offer some warning signs to watch for to help consumers avoid these types of scams:
  • The product claims you will lose more than one pound per week.  Diet experts believe about one pound per week is the ideal rate for healthy weight loss.  Any product that claims it can shed weight faster is probably too good to be true.
  • The product advertises you can lose weight without diet or exercise.  It’s not fun to hear, but if you really want to lose weight, diet and exercise are the only proven and healthy paths
  • Be alert if it claims you can lose weight from a specific part of your body, that a single factor is preventing your weight loss, and/or any advertisement using the words “miracle,” “trick,” “scientific breakthrough,” or “secret formula.”
  • The images on the site are obvious stock photos or appear altered.  If you aren’t sure if the images are authentic, use Google images to perform a reverse-image search.  Google can show you all the places using a specific picture. The method for doing this varies based upon your Web browser. Just search “Reverse Image Search Google” to quickly find the instructions that will work best for you.

Google the name of the product and add the word “scam” to the search query. Simply searching for “weight loss scam” returned the following products in just a few seconds:  HCG Diet Direct, Sensa Products, LeanSpa, L’Occitane, Lobster powders & creams, caffeine underwear, double shot pills, Healthe Trim, and many others. 

Who can you trust? 
Medical research progresses every day and even well-intentioned diet experts can find it difficult to determine if any specific product works.  TV’s Dr. Oz recently testified in front of the U.S. Senate about the difficulties he has experienced in keeping up with dietary science. He even has encouraged viewers to interpret his advice as if he were a celebrity rather than a doctor. Whether Dr. Oz encourages misinformation or is the victim of forces outside his control, the green coffee bean supplements scammers have been peddling skyrocketed in popularity after appearing on Dr. Oz’s TV show while the guest promoting them settled with the FTC for $9 million.
If you can’t trust famous doctors, you might then turn to friends for diet advice. That’s why many recent email scams have used Americans’ faith in their loved ones against them by hijacking email addresses to make it look like the scammers’ pitch was coming from a close friend or family member.  In addition, these emails send readers to false versions of respected news websites, giving their false claims an air of objectivity, because even people who might not trust Uncle Fred’s diet tips might accept claims made by famous journalists.  Here are some additional tips for combating those deceptive practices:

  • Always confirm that someone you really know sent you the email before you pay any money or volunteer any personal information.
  • Even if a site shows the logo of a major network, that doesn’t mean it’s legitimate.  Check out the other headlines the page links to.  Take a look at the ads on the page.  Are all the ads directing you to weight loss products or other similar businesses?
  • If a “reporter” tells you about their first-hand experience with the product, be skeptical.  If the claims seem incredible, be even more doubtful. Reporters don’t usually try medical products for a story and they are even less likely to do so for a long period of time.
  • If a major news network were to subject a reporter to experimental medical treatments, they would most likely put the segment on television and do a lot of pre-story promotion.  Weight loss offers a very dramatic visual, after all.  If you don’t see the reporter describing the product on video, or if the video doesn’t look like an expensive, major-network production, it is probably fake.  Scammers will take images and names from authentic news sources and use them without regard to legality, so confirm you are actually seeing the reporter talking about the product on that’s on the video.
  • If you’re still unsure about a product or offer, question everything.  What name did the reporter use in the video?  Search for it online to make sure he or she works for that network.  Look up the product and see if it’s for sale at a legitimate store.  Call the friend who sent you the email. Ask your doctor.    

If you are attempting to shed pounds for whatever reason, remember there are many healthy ways to do so. Some are relatively inexpensive while others can put a heavy strain on your wallet. Armed with awareness of the tricks and tactics will help you be alert and less susceptible to falling for the latest magic pill a scammer claims will get you to your ideal weight without the work.
Sources

https://www.ftc.gov/news-events/press-releases/2015/05/ftc-halts-deceptive-marketing-bogus-weight-loss-products 

http://www.nbcnews.com/health/diet-fitness/were-getting-even-fatter-survey-finds-n365276

http://www.nbcnews.com/health/diet-fitness/dr-oz-effect-senators-scold-mehmet-oz-diet-scams-n133226

Q&A: Google and Cybersecurity

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Google had a good day in mid-July. It’s safe to say it had a better day than you did, even if your day was fantastic. The company set a record for the largest single-day increase in value in the history of American investing at nearly $67 billion, breaking the previous record held by Apple.  Google did well enough that if it wanted to relax with a weekend of video games, movies, and pulp novels, it could simply buy Nintendo, Loews, and Barnes and Noble with the money it made just in that one day.
That day was less enjoyable for Google’s customers, though. As investors were thrilled by YouTube’s growth, Gmail users were beset by faulty spam filters which hid so many legitimate emails that Linux founder Linus Torvald took to an online op-ed calling out the tech giant. The misstep was a rare occurrence from Google, but considering it followed a much-ballyhooed revision to its Gmail platform, it was worrisome for many. When considered in the context of major hacks of the U.S. government and infidelity website Ashley Madison this summer, the Gmail problems had people wondering what security Google has in place for the largest privately-held collection of American’s data.
Don’t leave your cyber security in doubt. We’re here to answer your questions about your online safety. 
Question: Everyone is always going on and on about online security, but nothing has ever happened to me. Should I even care? What’s the worst that could happen? 
Answer: If you’ve never paid attention to your Internet security and never had a security problem, you’re probably fine. You clearly have a rabbit’s foot offering you magical protection from scammers, spammers, spoofers, and identity thieves. Or maybe you have been compromised and just don’t know it yet.
If black hats get their hands on your machine, there’s no telling what they could do. In some cases, you’re looking at spyware and malware that’s merely annoying. In others, your personal and financial information could be compromised. You might even have had your identity stolen. Online security is crucial, and you really can’t be too careful.
Question: I don’t have Gmail. I use Outlook. I don’t use Android. I have an iPhone. I’m good, right?
Answer: Internet security is like a 1980s slasher flick: The instant you let down your guard, something bad is going to happen. No, you’re not safe and Google isn’t bad at security. They’re actually pretty good at it.  Their cyber security task force is responding to the perception of a problem, not an actual problem.
Conversely, consider the products offered by Apple: Apple is slow to offer security updates for OS-X and sometimes bizarrely laconic when it comes to iOS apps.  While Google and Microsoft update their iOS apps every two weeks or so, Apple often waits months. Apple also doesn’t support security updates for older versions of OS-X, so if you’re still running Snow Leopard or anything older, Apple stopped updating security on your machine last year, leaving about 1 in 5 users behind.  When El Capitan comes out this fall, it will likely mean that security updates will end for machines still using Mountain Lion. 
Question: How do I know if my security is up to date? 

Answer:  Every reputable piece of software you use, on your computer or on the Web, should allow you to view your security settings.  If you can’t find your security settings, Google it or look for help on the site.  If you still can’t find your security settings, consider using different software. 
Question: What do I do if I think something fishy is going on with my account information? 
Answer:  For our members, let Destinations Credit Union know right away.  The sooner we know, the sooner we can protect your important financial information.  You may have your credit or debit card information stored at your favorite shops and you don’t want anyone to mess with your cards. After you’ve gotten in touch with us, get in contact with whomever is in charge of the site where you have suspicions.  See what they recommend.  It may be a good idea to notify the police.  Anyone who has access to your online profile is likely to have your home address, too.
Now is a really good time to protect yourself.  Update your password for all of your main accounts and any others you can think of.  Don’t write your password down, try not to make it obvious, and try to keep your passwords separate.  It may be a lot of work, but it will pay off in peace of mind.

Sources:

http://fortune.com/2015/07/21/activist-investors-tech-companies/

A New Kind of Grandparent Scam

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For years, con artists have preyed on the elderly, claiming to be their grandchildren and in trouble with desperate need for money.  This is the traditional grandparent scam and it dates back to as long as grandparents have had home phones.  Scammers know that grandma will do anything to help out, and they also know members of “the greatest generation” are excellent marks for phone scams.  In the traditional version of this scam, someone calls and tells the grandparent their grandchild has been jailed for a minor offense in a foreign country or has had a medical emergency befall them. Of course, other situations that would present an immediate need but be very hard to quickly verify are also used, so there is no one sure tell based upon circumstance. 

In reality, the grandchild is not under arrest, in the hospital or in trouble at all. At the very moment the scammer says the grandchild is in the middle of an emergency, he or she is probably just staring at a cellphone screen, possibly while they’re in class, oblivious to the whole situation.
A new version of the scam has been making the rounds this summer and it has a 21st century hook. The FTC, the BBB and various news organizations are reporting that scammers are now claiming to be debt collectors and getting older Americans to fork over credit card information or wire money to the scammers.  Sometimes the collectors claim to be after young people, threatening that if grandma doesn’t come through with the cash, the grandchild will be arrested, have their license revoked or lose their job. Other times, the scammers claim the grandparents are on the hook for the debt and use their fear of losing their credit rating to finagle some easy money out of a frightened victim.
The debt collection angle is new to the grandmother scam, but hardly a new scam in itself.  Con artists have been calling with fraudulent debts and fabricated threats for years, often claiming a long-forgotten payday loan or other non-traditional debt has been turned over to the police. But as people have gotten wise to phony debt collection scams, they’ve combined the routine with grandparent scams to make a new scenario that feels very real.With student loans and credit card debt through the roof, it’s easy to believe a loved one could have all sorts of debt we don’t know about. With the pressure on, it’s difficult to find out if it’s true.  But, if you didn’t co-sign a loan, you can’t be held responsible for paying it, no matter what someone tells you over the phone.  In fact, it’s illegal for a debt collector to tell you if someone else has a debt at all. If you’ve ever called a credit card company on behalf of your spouse, you’ve probably experienced the privacy laws in action, because the credit card company won’t even talk to you.   

If you feel pressured to make a payment or provide personal information over the phone, try to get off the line as quickly as possible.  Offer to call them back, if necessary.  The more they try to keep you on the phone, the more likely it is that they’re fraudsters who are after a quick buck.  If you think you might be a potential victim of such a scam, let the FTC know immediately, at www.ftccomplaintassistant.gov/. 
Then, let Destinations Credit Union know so we can make sure your accounts are safe, issue new information if necessary, and prevent any fraudulent charges.  We can also show you how to go through your credit report and find out if you have any debts you don’t know about. 
When someone pressures you on the phone, it’s always a good idea to take a break and figure out what’s really going on.  

Sources:

  

3 Mortgage Scams And How To Beat Them

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Brought to you by Destinations Credit Union 

The phrase “home security” is pretty widely used and has a variety of contexts. It can mean locking doors and windows when leaving the house, setting up an alarm system, participating in a neighborhood watch, or setting up automatic lights for vacations. These are all steps homeowners take to keep the contents of their homes safe.

When it comes to the home itself, though, folks can be a lot less particular. While homeowner’s insurance can protect against natural disasters, there’s a new threat to the cornerstone of the American dream. Scam artists are targeting desperate homeowners, trying to steal their money, personal information or even the home.
These scams come in a variety of shapes and sizes, and each one needs a detailed response. Before you do anything with your mortgage, check to make sure your “once-in-a-lifetime” offer isn’t on this list. 
1.) Up-front cost refinance 
The scam: You get a phone call or a letter from someone who wants to refinance your mortgage. The rates they’re offering are crazy low. They can cut your monthly payment by hundreds of dollars or help you pay off your mortgage in record time. All you have to do is pay a small percentage of those savings up front.
Of course, the company offering the mortgage is fake. You might get bills from them for the new amount, but paying them won’t affect your mortgage. Meanwhile, the institution that does hold your mortgage still expects you to make your regular payments.
How to beat it: It’s illegal to charge up-front fees for mortgage refinancing. Some institutions may try to waffle around this by calling them “document processing” fees or using some other jargon. Whatever they call it, it’s against the law and is a sure sign this “lender” is really just looking for a quick payday while not delivering anything in return.
Also remember that, while rates can fluctuate over time and from institution to institution, the fluctuation is limited. If someone is offering a rate that is several percent lower than anyone else in town, be highly skeptical. Check with your Better Business Bureau to see if the company exists and/or if complaints have been filed against it. 
2.) Hope foreclosure relief 
The scam: This savage scam targets homeowners who are facing foreclosure. Whether because of job loss, medical expenses, or other hardships, foreclosures affect 100,000 households each month. People in desperate situations try anything they can to dig themselves out. That’s when they get a phone call from someone representing Hope Services who can connect them with government assistance to stop their foreclosure. All they have to do is make three “trial payments” into a mortgage escrow account.
Hope Services collects the money and encourages borrowers to stop paying their mortgage. They’ll actively encourage homeowners not to talk to lenders or lawyers. They’ll take care of everything. As it turns out, Hope Services provides neither hope nor services. Homeowners are stuck facing foreclosure hearings without any assistance whatsoever.
How to beat it: Anyone who tells you not to get a lawyer or talk to a lender does not have your best interests at heart. If you miss several mortgage payments due to extenuating life circumstances, call your lender. Most institutions would always rather you pay something and keep you in your home than have to go through the process of foreclosure. Keeping lines of communication open is critical to getting back on the right track.
Also, watch out for high-pressure sales tactics. Anyone who wants you to make a mortgage decision on the spot is trying to deceive you. Mortgages are long-term arrangements and they should be considered carefully. A “money-back guarantee” is also a big red flag. Getting your money back will do you little good if you lose your house in the process. 
3.) The fine print deed sign 
The Scam: Scammers use a variety of up-front pitches. Some might offer to lower your rates or lower your mortgage payments. Others might try to rescue you from foreclosure. Still others might offer a home equity line of credit with alarmingly good terms. They may also offer to take over the deed to your house and then use their superior credit rating to secure a lower rate, while allowing you to remain in the home as a renter. Whatever the pitch, there are a ton of forms to sign. All of them are written in indecipherable legalese.
Somewhere amid these forms, perhaps buried in the back, is a form signing the deed for your house over to the scammer. Once they have the deed, they can rent the home to someone else or sell it outright while forcing you to vacate. Worst of all, you’re still on the hook for the balance of the mortgage, since the loan is tied to you and not to the home.
How to beat it: Scrutinize every document you sign relating to your mortgage or home. Have someone with experience in these matters look over documents if you’re not confident in your ability to detect these scams. Spending 20 minutes with a real estate lawyer is expensive, but not as expensive as losing your home.
There is never a legitimate reason to sign the deed of your house over to someone else unless you’re selling the house. While rent-to-buy schemes aren’t illegal, they very seldom end well for the renter. It won’t even get you out of legal or financial trouble.
Also, be wary of anyone who claims to guarantee a halt of foreclosure. No one can make such a guarantee, and legitimate businesses would  lose everything in lawsuits. The same is true with money-back promises. That’s good protection when buying a blender. It’s not something anyone can promise for your house. 

Destinations Credit Union offers free financial counseling, including certified housing counselors to our members.  If you have questions, ask!

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