If you have been victimized by fraud, contact Affinity immediately at 800-325-0808. Our representatives can help you freeze cards, secure your accounts, and begin the process of recovering your losses. If you’d like to learn more about identity fraud to protect yourself in the future, read on.

Identifying fraud

The first step to resolving fraud is knowing when it happens. Fraudsters benefit from your ignorance, so you’ll want to stay proactive and informed. Check on your bank accounts, card statements, and bills frequently, to make sure everything looks normal. If you notice irregularities, such as charges from unfamiliar vendors, you may want to contact Affinity.

Another sign that you’re under attack is receiving calls or letters about purchases you didn’t make, bills from accounts you didn’t open, or a tax return filed early in your name. These could be signs that someone is impersonating you. However, exercise caution when considering whether to engage with this type of correspondence. Instead of clicking links in an email, for example, go directly to your log-in page from a web browser. Sometimes, fraudsters will send fake correspondence designed to steal your data without actually making transactions in your name.

Common forms of identity theft

There are many forms of identity fraud. The most common is financial identity theft, where a fraudster uses stolen card details or files for a loan in your name. An associated type of fraud is “phishing,” where a scammer sends fake emails, texts, or calls impersonating trusted entities. AI has made these attempts dramatically more difficult to spot. If you receive a text, call, or email from a financial institution, it’s usually a good idea to hang up and call them back on an official listed number.

There are several less common scams that you might encounter, too. “SIM swapping” refers to a fraudster convincing your mobile carrier to transfer your phone number to a SIM they control. This allows them to intercept two-factor authentication codes and potentially access your accounts. Another form of fraud is tax identity theft, where someone files a tax return in your name to claim your refund before you do. You find out when you try to file, and the IRS claims that a return already exists.

In the digital environment, fraud is constantly changing. One of the fastest-growing scams is synthetic identity theft, where a scammer uses your real social security number alongside fabricated personal details to create a fake person. They use this persona to build credit, before maxing out and disappearing. Deepfakes powered by AI can fuel sophisticated forms of fraud that are difficult to combat.

Protecting yourself

Fraud is frightening, but there are many ways to protect yourself. If you’ve been a victim, contact Affinity to plan your next steps. Externally, you can freeze your credit at all three major credit bureaus (Equifax, Experian, TransUnion). You can also request an IRS Identity Protection PIN and file taxes early, if you’re particularly worried about tax fraud.

Proactively, you can set yourself up to protect your money and catch fraud early. Set up account alerts for all transactions and balance charges, so it’s obvious when something anomalous happens. Use strong, unique passwords and a password manager, and set up multi-factor authentication.

Most of all, it’s important to remain skeptical of any unsolicited calls, texts, or emails, even if they look legitimate. Instead of answering through the original channel, go back to the relevant account or call an official number to verify whether the message was real.

Affinity can help

When you call an Affinity representative, they can help you work through all the steps to resolve a case of fraud. Affinity also provides plenty of resources to help members. Our Fraud Prevention Hub ¹ centralizes information, blogs, and instructions for dealing with scams. We host webinars on fraud prevention and other financial topics, which you can access for free through our website or in-person at your branch. We also partner with CyberScout ², which provides free, comprehensive identity theft resolution for all members.

Remember, if an email or call doesn’t appear to be legitimate, it likely isn’t. But fraud can happen to anyone. Keeping calm and working with Affinity can help you resolve any scams you might encounter.

This information is for informational purposes only, is intended to provide general guidance, and does not constitute legal, tax, or financial advice. Each person's circumstances differ and may not apply to the specific information provided. You should seek the advice of a financial professional, tax consultant, and legal counsel to discuss your particular needs before making any financial or other commitments regarding the matters related to your condition

¹ Retrieved from: https://www.affinityfcu.com/fraud-prevention-hub/

² Retrieved from: https://www.affinityfcu.com/security-center/cyberscout