How to protect yourself from financial scams

Wednesday, May 18, 2022
   
A man holding a cell phone in his hand

You may have heard about recent scams involving gift cards, cryptocurrency, wires, mobile transfers, or other third-party payment apps. We wanted to share a few things to look for, as well as some tips to protect yourself and your money.

Keep in mind

La Cap employees will never ask you to transfer money to yourself as a way to resolve fraud. We'll also never ask you to share your username and password with anyone at La Cap.

What to watch out for

Impersonating a La Cap employee

A scammer may call, email or text you pretending to be from La Cap. They may say there is fraud on your account or try to trick you into providing personal information in order to gain access to your account.

If you receive this message or suspect the caller is not an actual La Cap representative, hang up the phone and call our Member Service Specialists to verify the security of your account.  

Unusual requests for sending or transferring money

Fraudsters may try to trick you into thinking you have fraud on your account. To reverse it, they suggest you transfer money "to yourself" when, in fact, the account you transfer money to belongs to the scammer.

A La Cap representative will never prompt you to transfer money.

Fake phone numbers

Scammers sometimes use technology that "spoofs" phone numbers. That means the Caller ID indicates that the call is coming from La Cap, even though it's not.

If you believe the caller is not an actual La Cap representative, hang up and call one of our Member Service Specialists to verify.

What you can do

Knowing what financial scams look like can help you stay one step ahead of them. And following these simple steps can help protect you and your money.

Be careful when sending money. It's important to verify who the recipient is before sending money, as you might not be able to get your money back if accidentally sent to the wrong person. Before sending money to a registered user through a mobile payment app, always double check that the recipient’s information is correct, as well as the amount you are sending.

Know who you're talking to. Never offer information – especially personal or account info – to someone who calls you directly, even if they say they're from La Cap. You can verify that you're speaking with a La Cap employee by hanging up and calling one of our Member Service Specialists.  

Take a moment. Scammers will try to make the situation sound urgent so you'll react and give them what they want before you realize what's happening. If you're told to take an action right away, it could be a scam – think about what they're asking for, and verify they are who they say they are.

We're here for you

If you think an email, call or text is suspicious, call us directly and speak to one of our Member Service Specialists. We can be reached 24/7 at 800-522-2748 or 225-342-5055. You can learn more about protecting yourself from evolving scam techniques through our Fraud Prevention Resources.

FRAUD PREVENTION RESOURCES