Scams - Franklin Mint Federal Credit Union

Gift cards scams are increasing – what to look for

December 9, 2021

The FTC recently released this excellent article. According to the newest Data Spotlight, 40,000 people reported losing a whopping $148 million in gift cards to scammers during the first nine months of 2021. Those are staggering numbers which have increased each year for the past several years. Since 2018, gift cards have been the most […]

The Naughty List: BBB’s 12 Scams of Christmas

November 22, 2021

By Better Business Bureau. November 10, 2021. While 2021 is quickly winding down, scams targeting the public continue to cause trouble. Consumers should watch out for any fraudulent schemes aimed at swiping their cash and stealing personal information. Better Business Bureau (BBB) has a Naughty List with the top 12 scams of Christmas that are most likely to catch […]

Veterans: Avoid Being a Victim of a Pension Poaching Scam

June 17, 2021

WHAT IS VETERAN PENSION POACHING?* Pension poaching is financial exploitation targeting veterans and beneficiaries who are potentially eligible for VA pension benefits. Pension poaching comes in several forms but is always an attempt to de-fraud America’s heroes. Some poachers sell financial products of questionable value or charge a fee to restructure assets in order to make the veteran or beneficiary […]

Romance Scams are on the Rise

March 4, 2021

More and more consumers are getting caught in romance scams. For three years running, people have reported losing more money on romance scams than on any other fraud type.  In 2020, reported losses to romance scams reached a record $304 million, up about 50% from 2019.*  People are getting lured into talking to people with […]

Card Cracking Defined

December 10, 2020

The scam is called card cracking* and it may start off innocently enough. You see a post on a social media site announcing a contest. Or maybe a webpage that claims to have a celebrity affiliation is offering a gift card giveaway. The variations are endless, but here’s the tip-off that fraud is afoot. At […]

College Students – Beware of a Fake Check Scam

December 2, 2020

The FTC has warned college students about a scam involving scammers posing as fake professors. They send you an email using a college domain name and offers the student a part-time job. The scammer then sends the student a check, asks them to deposit it at a financial institution, send the money to someone else […]

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