Fraud is no longer something that happens somewhere else. It is happening here, in our small towns, in our communities, and to people we know.
Last year alone, Americans reported losing more than $16.6 billion to fraud, according to the FBI’s Internet Crime Complaint Center. Nearly 860,000 internet crime complaints were filed nationwide, and the Federal Trade Commission received more than 2.6 million fraud reports.
Behind those numbers are real people. Seniors who have worked a lifetime to build financial security. Families trying to make ends meet. Neighbors who never imagined they would fall victim to a scam. Even our young people are being targeted, often caught off guard as they learn how to manage money in an increasingly digital world.
As a credit union serving rural Kansas, we see firsthand how sophisticated these scams have become. Scammers send convincing text messages about…
This remains the most prevalent form of financial crime globally. It targets the direct access points to your money: your cards and your bank accounts.
- Skimming: Criminals use small devices called “skimmers” placed over ATM or point-of-sale card slots to capture the data from your card’s magnetic strip.
- Card-Not-Present (CNP) Fraud: This occurs during online shopping where a physical card isn’t required. Thieves use stolen card numbers, expiry dates, and CVV codes to make unauthorized purchases.
- Account Takeover (ATO): A hacker gains access to your online banking credentials (often through malware or phishing) and changes the contact details or passwords, locking you out while they drain your funds.