The pandemic shifted many consumer behaviors and people are now shopping and banking online more than ever. This means fraudsters are targeting peoples’ email, digital wallets and mobile devices through text messages and phone calls at an increased rate. According to the 2021 Identity Fraud Study by Javelin Strategy & Research, American’s lost a total of $56 billion due to falling victims of fraud and identity theft within the year.
Here are the most common red flags to watch for:
- Unsolicited calls or emails
- High-pressure tactics
- Outdated passwords
Now more than ever, consumers need to be vigilant and aware of all the creative tactics and strategies criminals are using to take advantage of unsuspecting victims. To help our customers, we’ve included several links to five credible and useful educational tools.
1. Washington Department of Financial Institutions
The Consumer Protection Resources page has a number of resources for managing credit and debt, staying safe online and avoiding scams.
2. Washington Department of Financial Institution
Stay up-to-date with the latest alerts by searching consumer alerts on the Consumer Alerts page.
3. Consumer Protection Washington
Track scams and find a comprehensive guide for consumer complaints at Consumer Protection Washington.
4. American Bankers Association
Tips on the best defensive strategies to protect you from scammers can be found on “Banks Never Ask That”. Take a quiz to see how much you know when it comes to protecting your financial accounts.
5. Olympia Federal Savings
As always, we’re here to help. Each customer has a personal banker that can help explain the best ways of setting passwords, current fraud protection resources and is dedicated to keeping our customers’ accounts safe and secure. For more information or if you have any concerns regarding your accounts with OlyFed, please don’t hesitate to contact us or call (360) 754-3400. We’re here to help you! Below are a few curated resources within our website that can lead your exploration.