Beware of Scams!

At Logix, we partnered with GreenPath to keep you up to date on financial wellness, including keeping you aware of scams.

Threat 1

An adversary calls or emails you and portrays him or herself as an employee with the IRS. Their purpose is to have you give them personal information or money.

Defense

1. The IRS will never send you an unsolicited email requesting information.  You can report unsolicited email to phishing@irs.gov.
2. The IRS will never call and demand immediate payment or ask for credit/debit card numbers over the phone.
3. The IRS will never threaten you with “immediate” arrest by local police or other law-enforcement.
4. If you are suspicious of a phone call, ask the caller which office they work out of and call them back. Phone numbers to contact the IRS are easily available online, including numbers for local offices that may be near you.

Threat 2

The adversary obtains your personal information and files a tax return in your name in order to get the refund. You find out about it when you attempt to file a return and are informed it has already been filed. This can occur at the state and city level as well.

Defense

1. File your tax return as early as possible.  This is probably the best defense against this attack.
2. Protect your personal information. Don’t give out your Social Security Number or other personally identifiable information (address, phone number, mother’s maiden name, spouse information, etc.) unless it is necessary and you trust the recipient.
3. Monitor your credit report.
4. Pay attention to news stories about big “hacks” or data breaches. For example, if you see a news story that your automobile insurance company has just had a large data breach, contact your representative and ask what they are doing to resolve the issue (i.e. free credit monitoring). If you are affected, change your passwords and answers to any security questions on other data sensitive accounts.

Most importantly be careful and diligent when sharing your data.  Trust is a good thing, but when it comes to your personal information, always verify that the request is a legitimate one.

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*Logix has partnered with GreenPath Financial Wellness to give members access to additional financial wellness content, including this blog article. Views and opinions expressed in the financial wellness content are those of GreenPath and may not always represent the views and opinions of Logix Federal Credit Union. Logix Federal Credit Union is not affiliated with GreenPath, and is a separate entity. Please contact Logix at (800) 328-5328 or visit www.lfcu.com if you have any questions about this topic or would like to consider opening an account. This blog is intended for informational purposes only and is not provided as tax advice. Please consult with a tax professional or attorney for specific tax related questions. Logix is Federally Insured by NCUA and is an Equal Housing Lender.