Credit Union warning of 2 scams ramping up in Mid-Michigan - WNEM TV 5

Credit Union warning of 2 scams ramping up in Mid-Michigan

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A local credit union is trying to keep you safe as scammers ramp up efforts to separate you from your money.

Wildfire Credit Union reports that two major types of scams have been impacting area residents and financial institutions and they’re hoping to raise awareness before you become a victim.

The first scam is Debit/ATM Card scams. The people behind these scams are looking for customers who want to make money or make them feel they are helping someone out by giving them their debit/ATM card and PIN number. Once the scammers have the cards they make fake deposits, usually empty envelope deposits, and turn around and withdraw funds via an ATM.

What the customer doesn’t realize is that by selling their card they have become part of the fraud and are responsible for any losses on their account. The scammers have become so bold as to post on social media that they are looking for people who are willing to sell their debit cards to area financial institutions.

The second type of scam is the PELL Grant scam. It starts with people being notified they are eligible to receive a PELL Grant (used for education) even though they may not be in school. Some people perceive it as free money as scammers ask the people to send them money and they will send the grant back. The scammers say they just need their account information. As soon as the scammers have that information, they drain the person’s account.

The only way PELL Grants are given is if a person applies.

 Wildfire reports that while most people understand that if something sounds too good to be true, it probably is, they have seen people looking to get a few extra dollars without understanding that by doing so, they are committing fraud themselves.

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