FROM: PSECU RE: Fraud Alert - Card Scams Targeting College Students
Sent: 11/24/2015 2:22:59 PM
To: Students, Faculty, Staff
Card Scams Targeting College Students
"Card Cracking" - A growing trend in scamming, targeting college students
Goal of the Scam - Get you to willingly give away your account numbers and PINs.
How does it work? - Fraudsters play on college students' need for money without much free time to earn it.
- Offer of an Unbelievable Deal - "Earn fast cash." "Need scholarship money? I can help." Usually made through social media.
- The Catch - in exchange for promise of fast cash, you need to give up your account information and PIN.
- The Scam - They'll deposit fake checks into your account, and soon after, use your information to withdraw all of the fraudulent funds that were credited to the account, as well as any legitimate money you had.
Consequences
- Your account is drained
- Disputing the fraud may cause you to lose access to your account while the fraud is being investigated.
- Possible criminal charges, if you are aware of the fraudulent intent, and still agree to go along with it.
Be Smart & Steer Clear
- If it sounds too good to be true, it probably is. Do your research and confirm the validity of any financial offers you receive.
- Protect your information. You should treat your financial account information the same way you treat your personal information. Keep it in a secure place and be wary of giving it to others.
- Don't be a victim or an accomplice. Getting caught up in scams can damage your finances and financial stability. And if your're aware of what's going on, it can cause you legal trouble, too! Even when times are hard, it's not worth risking your future.
PSECU is here to help. Visit our eCenter in the Natali Student Center if you want any information or need help with your PSECU account.
