One of the most popular types of fraud is called an employment scam. There are many different types of variations for this scam, but the most common is when a victim is falsely led to believe they have landed their dream job. After the “employer” hires the victim (with no legal documents signed) they send the victim a counterfeit cashier’s check stating they are going to pay for the equipment that they will need for the job. They then later claim they over paid and demand that the excess funds are returned. They give the victim a fake account number and instruct them to send the funds electronically via a money transferring service. If the victim falls for the tricks, and sends the funds, they will most likely never see those funds again. This nightmare becomes reality when the check bounces and the victim is left with the bill. Once the check bounces, the victim owes the money back to the financial institution. Often times the victims are truly looking for a job and are already worried about money, so this just compounds the issue.
Be on the lookout for these frequent tax season schemes and scams.
If it sounds too good to be true, it probably is! In recent years, thousands of people have lost millions of dollars and their personal information to tax scams and fake IRS communication. This article looks at the scams affecting individuals and businesses and what to do if you if you spot a tax scam.
Win $733.70 every week. Get $5 per registration. Stop Fraud.
Ready to win? It's you vs. the bad guys, and we like you much better. So for the next 6 weeks, we'll be taking money out of their pockets and putting it back into yours.
Each instance of card fraud costs Logix about $366.85. That's $366.85 we can't use to fund loans, reduce fees, increase deposit rates, hire contact center staff, or add to dividends. Every time card fraud is successfully committed, it directly impacts our ability to help our members. Worse yet, it is $366.85 to help fraudsters stay in business.
Let's take money out of their pockets and get it back in member pockets where it belongs!
For the next 6 weeks, Logix will be selecting a member who is helping us fight fraud by using the Logix Card Manager app to win DOUBLE the $366.85 we lose with each instance of card fraud. That's $733.70 every week until August 28th. PLUS, every new Logix Card manager registrant will automatically get a $5 payout.
If you're ready to register and win, all while helping support a healthy credit union and put fraudsters out of business, simply click the links below to download the app or learn more about it.
To set up Card Alerts in seconds, simply click one of these icons to get started.
NO PURCHASE OR PAYMENT OF ANY KIND IS NECESSARY TO ENTER OR WIN THIS SWEEPSTAKES. Odds of winning, 6 in 70,000.Click here to see the official rules.
Fraud Alert: Be sure EMV "Chip" Card Issuer eMails are Legit
If you haven’t heard already, there is new technology out there to protect our debit and credit cards. Well not really new; but new to the United States. Many European countries, Mexico and Canada have been using it for years. EMV (Europay, MasterCard and Visa) is the global standard for chip-based debit and credit card transactions that ensures transaction security and global acceptance. U.S. financial institutions have been issuing debit and credit cards with EMV chips since 2015 and Logix is among them. At the end of 2015, there were nearly 600 million EMV chip cards in circulation in the U.S.
Tax Refund Fraud - What You Need to Know this Tax Season
Fraudsters who use stolen personally identifiable information can perpetrate a wide variety of fraudulent financial schemes, such as hacking online accounts, submitting phony insurance claims, and applying for loans and credit cards to pad their bank accounts. Increasingly, though, identity theft tax refund fraud is becoming a favorite money-making scheme for criminals. The Logix Fraud Risk Management team has seen an increase in this type of activity. With tax season upon us you should be prepared to ensure you don’t become a victim.
Ways to Protect Yourself
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