6 Common Scams That Could Empty Your Accounts

Scams have become increasingly sophisticated, making it essential to recognize common tactics fraudsters use to trick people into handing over their hard-earned money. Here are six prevalent scams that everyone should watch out for to keep their accounts safe:
 

1. Imposter Scam

Imposter scams involve fraudsters posing as trusted entities—financial institutions, government agencies, or even family members—to obtain personal information or money. They may call, text, or email, using official-sounding language and creating a sense of urgency. Remember, legitimate institutions will never ask for sensitive information over the phone or by email. Always double-check by contacting the institution directly through verified channels.
 

2. Urgency Scam

Scammers often try to create a false sense of urgency, telling you that immediate action is required, such as paying a “missed bill” or “correcting a serious problem.” They aim to pressure you into making impulsive decisions before you have time to think. Take a moment to pause and verify the information independently—trustworthy companies will never rush you into making a payment or decision.
 

3. Phishing Scam

Phishing involves deceptive emails, texts, or messages that appear to be from legitimate sources, often designed to look like they’re from your financial institution or another reputable entity. These messages usually contain a link or attachment that, when clicked, prompts you to enter personal or financial information. Avoid clicking on unfamiliar links, and report any suspicious emails directly to the company it claims to represent.
 

4. Utility Scam

In this scam, con artists pose as representatives from utility companies (electric, gas, or water) and claim that your service will be shut off unless you make an immediate payment. They may even spoof caller IDs to make it look like they’re calling from the company. Always hang up and call your utility provider directly if you receive a suspicious call.
 

5. Support Specialist Scam

In the support specialist scam, fake tech support agents contact you, claiming there’s a problem with your device that only they can fix. They may ask for remote access to your computer to “fix the issue” but are actually accessing your sensitive data. Never grant remote access to anyone unless you’ve initiated the contact with a verified support team.
 

6. Pay Yourself Scam

This scam plays on the fear of fraud. Criminals send a fake fraud alert, urging you to “verify” your identity or account by transferring funds to yourself. They then call, pretending to be a financial institution representative, and request information to “verify” the transaction. In reality, they’re setting up a fraudulent transaction using your details. If you receive unexpected alerts or calls, contact your financial institution directly through their official customer service channels.
 

Protecting Your Financial Future

Falling victim to a scam can be devastating, but staying informed can help you safeguard your finances. Be cautious, trust your instincts, and remember that legitimate institutions will never pressure you for immediate responses or sensitive information. If you suspect a scam, always reach out to your financial institution directly—taking this small step can make a big difference in protecting your assets and your peace of mind.

Remember, Provident will never contact you to ask for verification of your account, security, or personal information. If you receive a suspicious call, text, or email from someone claiming to be a Provident employee, do not share any information or reply. If it is a suspicious call, please hang up immediately. If in doubt, contact Provident directly at (800) 632-4600 to confirm.