OSHKOSH, Wis. (May 13, 2024) – Verve, a Credit Union, kicks off a new fraud awareness campaign on National Senior Fraud Awareness Day, Wednesday, May 15, to help local seniors identify common online scams that result in losses of billions annually. Anyone can participate by signing up at Don’t Feed the Phish to learn how to protect themselves against Phishing, Smishing, government impersonation and other related scams.
From now until Wednesday, June 12, local seniors can enter the Don’t Feed the Phish quiz to test their fraud detection skills. Each week, participants will see one new mock fraudulent scam message and will select the signs that indicate it might be fraud through a multiple-choice quiz. One participant will be selected at random each week to win a $25 gift card.
“According to the FBI, in 2023, scams affecting people ages 60 or older accounted for $3.4 billion in losses,” said Grant Wheat, Vice President of Risk Management of Verve, a Credit Union. “As scammers get smarter and learn how to impersonate financial institutions, family members and government agencies, it’s never been more crucial to educate seniors on the dangers of fraud and how to protect against it.”
Scammers often send fraudulent emails or messages, called Phishing, to get you to share your personal information. Phishing scams impersonate someone you know or a government official like the IRS, to try and gain your trust. Messages include a sense of urgency, like an emergency or outrageous giveaway that requires your information for a payout.
Verve, a Credit Union, coordinated with local law enforcement to develop the Fraud Squad in 2022 to help educate consumers on how to detect scams like these. In 2024, prevalent scams include:
- Romance scams: You connect with someone on a dating site or social media and quickly build a relationship. When they gain your trust, the scammer requests your bank account login information or asks you to send them money directly.
- Government impersonation scams: You receive a phone call from someone claiming to be a government agency. They have personal details about you that they share with you to gain your trust and ask you for a payment or share that you’re receiving a refund.
- Giveaway scams: You’re told that you’ve won a sweepstakes and need to send a lump sum of cash to cover taxes in order to receive your pay.
- Fraudulent checks: You receive a check in the mail or are asked to remote deposit a check from the scammer and then forward funds back in cash, by Cash App, or with gift cards.
Verve encourages consumers to slow down, talk to someone they trust and look for red flags such as spelling, grammar or illegitimate email addresses/contact methods before acting on an email or that seems too good to be true. Seniors can learn about these signs and more by participating in Verve’s Don’t Feed the Phish campaign.
Don’t Feed the Phish is open now until Wednesday, June 12. Sign up online and test your fraud knowledge at https://verveacu.com/dont-feed-the-phish/.
