Library of Congress Federal Credit Union

Online fraud has become a big problem in the U.S. In 2023, Americans lost $12 billion due to online cons, according to the FBI. Thankfully, there are ways you can protect yourself, your identity, and your finances. We have some solid tips from our partners at BALANCE.

Never click suspicious email links: Phishing works in different ways, but in the most common scenario, a scammer emails or posts an appealing link as bait. If you click that link, you’ll be redirected to a shady website that infects your computer with a virus, works to steal your personal info, or locks your computer until you agree to pay the scammer a ransom fee. The simple solution? Think before you click.

Beware spam-y comments on social media: When you’re on social media, you’ll be exposed to a lot of potential scams. These criminals will drop a dubious link into the conversation in the comments, claiming it connects to a relevant story or thread. Use your intuition and be wary of any user or link that doesn’t quite look right. Additionally, change your passwords regularly, especially those for your financial accounts.

Scrutinize online shopping offers you didn’t request: Yes, getting a good deal is nice. But some online retailers will simply take your money and never deliver the goods. Worse yet, they’ll charge you more than you agreed to and then sell your credit card information online. To protect yourself, research the product to see if you could purchase it somewhere else.

Please note: A vast majority of online companies are not scammers. If you have not purchased from a company before, do your due diligence and research customer reviews, check for their contact information, and research the product to see if it is legit. Check to ensure the site URL starts with “HTTP” or “HTTPS.”

Think twice before taking a survey: Online surveys can be very tempting. Usually, they’re promoted in banners or social media posts and promise deep discounts and giveaways. All you have to do is hand over your info. The problem is that a lot of these surveys are bogus. A legitimate company probably isn’t going to give you a real deal via a flashing banner ad. And if you click, you may be giving up access to things like your bank and credit card info.

Skip perfect dating profiles: Be careful of who you trust on dating websites. Watch out for anyone who wants to move the conversation from the dating site to email. Additionally, ditch anyone who can never meet in person or asks for money.

Report All Fraud
If you worry you have been victimized by an online scam, file a report with the Consumer Financial Protection Bureau, as well as your local police or law enforcement agency. Additionally, stop by, call, or email, to let us know and we’ll do what we can to help.

Stories From the Stacks is Designed for You

The Stories from the Stacks blog is for anyone interested in advancing their financial life story. From financial challenges and advice to tips for a better relationship with money, each one is designed for you. Let us know what topics you’d like us to explore next!