Protect Your Money: How to Spot and Avoid Common Scams

Managing money has never been faster or easier. Unfortunately, that same convenience creates new opportunities for scammers.

We see the impact every day at Frontwave. From suspicious text messages to convincing phone calls, Members regularly come to us wondering whether something is legitimate.

Scammers know how to create urgency, build trust and catch people off guard. Sometimes it's a text message that looks legitimate, a phone call that sounds convincing or a website that appears identical to the real thing.

Most scams follow familiar patterns. Knowing what to look for can help you spot the warning signs before they become costly mistakes.

The Cost of Fraud Keeps Rising

Financial fraud losses are climbing fast. Americans lost $15.9 billion to fraud in 2025, much of it tied to digital scams and identity theft.

More than 1.1 million identity theft cases were reported in the same year. Nearly a third of fraud losses now start on social media, where scammers build trust before making their move.

And it’s hitting close to home.

In San Diego County, more than 400 residents lost over $90 million in 2025 to long-running investment and romance scams. And it doesn't stop there. Seniors in the county lost more than $130 million in the same year.

These aren't just statistics. They're real people who thought a text message, phone call, social media post or email looked legitimate.

Why You’re a Prime Target

One of the biggest misconceptions about scams is that only certain people fall for them.

The reality is that scammers are good at what they do. They know how to create urgency, build trust and make something feel just legitimate enough to earn a click, a response or a moment of doubt.

That's why scam victims include retirees, college students, business owners and people who consider themselves financially savvy.

The goal isn't to be suspicious of everything. It's to recognize the warning signs before a scammer has the chance to take advantage of them.

Common Scams

Fraud can take many forms, from convincing text messages and phone calls to fake websites and online relationships. Knowing how these scams work is one of the most effective ways to avoid becoming a victim. Here are some of the most common scams people encounter today.

Why Scams Work

Most scams aren't trying to hack your computer. They're trying to influence your decisions.

Scammers know that people are more likely to act quickly when they're worried about losing money, protecting an account or missing out on something important. That's why so many scams are designed to feel urgent.

The moment something feels rushed is often the moment to slow down. A few extra minutes of verification can prevent a costly mistake.

Five Signs It's a Scam

Scammers use different tactics, but many scams share the same warning signs. Be cautious if someone:

1. Pressures you to act immediately.
2. Creates fear or panic.
3. Requests secrecy.
4. Asks for passwords, security codes or account credentials.
5. Wants payment through gift cards, wire transfers or cryptocurrency.

When in doubt, slow down. Taking a few minutes to verify a request can save you significant time, money and frustration.

When Something Doesn't Feel Right

Scammers rely on people moving quickly. Before sharing information, sending money or taking action on an unexpected request, slow down and verify who you're dealing with.

A few red flags to watch for:

• Pressure to act immediately.
• Requests involving gift cards, wire transfers or cryptocurrency.
• Requests for your online banking password, PIN, authentication codes or complete debit or credit card number.
• Requests to keep a conversation secret.

If someone claiming to represent Frontwave asks for any of this information, end the conversation and contact us directly at 760.631.8700 or use the number on the back of your debit or credit card.

What to Do If You Think You've Been Scammed

If you believe your personal information or financial accounts may have been compromised, act quickly.

1. Contact Frontwave immediately.
2. Review recent account activity and transactions.
3. Lock or replace affected debit and credit cards if necessary.
4. Change passwords for impacted accounts.
5. Enable multi-factor authentication if it is not already active.
6. Monitor your credit and account activity for signs of fraud.
7. Consider placing a fraud alert or credit freeze with the major credit bureaus.
8. Report identity theft or fraud to the appropriate authorities.

Quick action can help limit financial losses and prevent additional fraud.

Other Ways to Protect Yourself

Use Strong, Unique Passwords
Using the same password across multiple accounts can turn one compromised account into several. Consider using a password manager to generate and store strong passwords.

Enable Multi-Factor Authentication
Multi-factor authentication adds another layer of protection beyond your password. Turn it on wherever it's available.

Keep Devices Updated
Software updates often include important security fixes. Keep your phone, computer and apps up to date.

Be Careful on Public Wi-Fi
Avoid accessing sensitive financial information on unsecured public networks. If you need to use public Wi-Fi, consider using a trusted virtual private network (VPN).

Monitor Your Accounts Regularly
Review your accounts regularly and pay attention to unusual activity. Account alerts can help you spot problems early.

Limit Personal Information Online
Scammers often use information shared online to make their schemes more convincing. Be thoughtful about what you post and review your privacy settings regularly.

What We’re Doing Behind the Scenes

Scammers don't stand still, and neither do we. Behind the scenes, Frontwave uses fraud monitoring tools that help identify unusual activity, flag potentially suspicious transactions and detect threats as they emerge.

Technology is only part of the equation. Our teams receive ongoing fraud awareness training and work closely with Members when something doesn't look right. Sometimes a conversation can uncover details a system simply can't see.

We also provide account alerts, security resources and educational tools designed to help Members stay informed and take action when something seems suspicious.

No fraud prevention system can stop every scam, but our goal is simple: help protect your accounts, your information and your money.

You’re Not On Your Own

This is where being part of a credit union matters.

We’re not just watching systems. We’re talking to Members every day. We’re seeing patterns. We’re helping people in real time.

Fraud is increasing. That’s real. But so is the support behind you. If something doesn’t feel right, you don’t have to figure it out alone.

Need Help?

Something feel off? Have Questions? 

Call 800.736.4500, stop by a branch, or schedule an appointment.

Real people. Real help. When it matters.