Financial Forecast: Preparing for Hurricane Scams

As the seasons change and the cool air meets the warm, storms begin to brew in the ocean and within the financial landscape. Criminals are clever and know that during a time of crisis, they can try to take advantage of unsuspecting victims. As your credit union, Alive is often the first line of defense when it comes to preventing scams. Hurricane season is upon us now, so let’s brush up on best practices and common occurrences when it comes to hurricane scams.

FRAUDULENT EMAILS

During a hurricane, criminals can capitalize on sending malicious links and attachments. Often, cybercriminals will send emails that convey a sense of urgency that may seem more likely during a hurricane. You may remember that last year, there were several electricity company email scams. If you are contacted by your electric company and they are requesting immediate payment or personal identifiers such as your date of birth and social security number, pause, think, and consider hanging up to call the company directly to verify that you are talking to someone legitimate. If a person or entity is pressuring you to send a wire transfer, gain access to your online banking, or have access to your personal information, please share that information with an Alive Credit Union member service representative who can assist you.

CHARITY SCAMS

Unfortunately, the scams do not end after the storm has passed. Every year, more and more charity scams pop up. On social media, it is very easy to read a sad story and feel compelled to donate to a cause. Before donating—especially a generous one—try your best to fact-check. Prior to sending funds or sharing account information, be sure to visit the charity’s website. You can also check the state’s charity regulator website to verify its legitimacy. You can find the registry for your state here.

POST-DISASTER INSURANCE SCAMS

There are two varieties of insurance scams. In some cases, you may receive a call from a criminal posing as an insurance agent who will ask for your personal information. They may even suggest that they need immediate payment to start the insurance claim. This is untrue. Hang up and call the insurance company directly. Policyholders with the National Flood Insurance Program can call 1-800-638-6620.

Another post-disaster scam that can occur during an emergency is when you are given a fraudulent insurance check either in person or in the mail. You can trust your credit union to review any money orders or checks for you. Be sure to share information about who you received the check from, especially if it is unexpected!

The most important thing to remember is that we can all feel stressed, worried, overwhelmed, and upset before and after a natural disaster. Anytime someone you do not know reaches out to you during these times of heightened emotion, it's a time to pause and think before sharing any personal identifiers, account information, or giving funds, as criminals take advantage during these times.

For more information on hurricane scams, visit the Cybersecurity and Infrastructure Security Agency's website.