April Fools Are Funny—Fraud Isn’t
When you talk about holidays during the month of April, usually Easter is the first holiday that comes to mind but there is a lesser talked about holiday… April Fools. A time when people play jokes and make others into the fool. And while harmless jokes can provide some laughter, let’s team together and avoid putting on the jester hat when it comes to protecting yourself and your resources from the fraudsters. Here are some prevalent fraud schemes that often occur during this month.
Spoofing Calls
Don't answer unknown numbers: If you do not recognize a number, let it go to voicemail. Legitimate callers will typically leave a message.
Verify independently: If a caller claims to be from a known institution (like your bank or the IRS), hang up. Call them back using an official number found on your account statement or the organization's official website.
Never share personal info: Legitimate companies will not call unexpectedly to ask for sensitive data like Social Security numbers, passwords, or PINs.
Beware of urgency and pressure: Scammers often use threats (e.g., account closure or legal action) to pressure you into acting quickly without thinking.
Don't follow prompts: If an automated message asks you to "press a button" to stop receiving calls, just hang up. This often confirms to scammers that your number is active.
Avoid "Yes" or "No" questions: Scammers may ask "Can you hear me?" to record your voice saying "Yes," which can later be used to authorize fraudulent activities.
Use blocking tools: Check with your service provider for call-blocking features or use third-party apps to filter out suspected spam and spoofed calls.
Check for verification: Some modern smartphones display a checkmark or "Verified" status for calls where the carrier has confirmed the caller ID has not been spoofed.
Impostor Scams
Criminals posed as trusted individuals, companies, or government agencies.
Victims were tricked into sending money via gift cards, wire transfers, or cryptocurrency.
1 in 5 victims lost money, with an average loss of $800 per person.
Text Message Scams
Fake delivery notifications, bank alerts, and prize winnings were sent via SMS.
These messages often contained malicious links or requests for personal information.
Job Offer Scams
Fraudulent recruiters offered fake remote jobs, often requiring upfront payments for training or equipment.
These scams disproportionately affected Gen Z and Millennials.
Email Phishing
Email remained the most popular method for scammers, with a 25% increase in usage compared to last year.
Common themes included tax refunds, account suspensions, and urgent requests for help.
Cryptocurrency Scams
Victims were lured into fake investment platforms or tricked into sending crypto to fraudulent wallets.
Losses from crypto-related scams totaled $2.95 billion nationwide
Honorable Mention: While we did touch on this scam last month, Tax Scams are still a big scam that is being conducted during this time of the year, especially due to the fact that for a majority of you. Your taxes are due by the 15th of the month. So please make sure to stay vigilant for any “too good to be true” offers that may come your way. Avoid clicking on any offers from social media sites, and make sure to verify that your dealing with a legitimate business before providing any information.
“Call spoofing” is on the rise in our area again. We received numerous members telling us that they are attempting to be scammed by fraudsters pretending to be someone or something that they are not. So please take a little extra time this month to learn about it and the measures you can take to protect yourselves.
We just want to take a moment and thank you all for reading our Fraud Blog. While it doesn’t seem like much, reading this, staying current on other trends and just taking the time to educate yourselves goes such a long way in ensuring that you can remain protected and safe. And if you have a chance, start a conversation about fraud, whether it’s with your friends, families, neighbors, etc. And Remember! When in doubt, ALWAYS reach out!
