As the coronavirus continues to spread globally, some people are exploiting fears with fraudulent loans, bank transactions, and phishing scams. To ensure your financial information remains secure during this pandemic, utilize the following tips.

How to Avoid Falling for Coronavirus Scams

1. Look Out for Phishing Scams

A phishing scam uses fraudulent texts, phone calls, emails, and websites to obtain personal information. These scams typically ask for your name, Social Security number, address, and bank account information, but may also request your login information for familiar sites.

Keep your personal information secure by blocking or reporting any suspicious emails, texts, or calls you receive. Never give out these details to numbers or email addresses you don’t recognize.

2. Keep Your Money Safe 

Banks are federally insured, so if a leak does happen, your money will still be secure within a financial institution. Additionally, most banks have high levels of protection, making it difficult for online scammers to breach their security. This protection isn’t readily available if you choose to store funds elsewhere, leaving you susceptible to scams.

3. Avoid Loans From Untrusted Lenders

With unemployment rates at their highest, many families are turning to loans to help stay afloat. But never provide personal information to an institution or individual you’re not familiar with. And if the loan conditions sound too good to be true, they likely are. Only trust your bank or a verified lender when pursuing loans.

4. Keep Technology Updated

Cellphones, tablets, and computers all have security measures included in their software. However, to keep these programs running properly, you must keep your system updated. Look for new software updates on all your devices, and install them promptly to address any vulnerabilities in your system.

With hundreds of millions of dollars in assets and over 60,000 members across Hawaii, Hawaiian Financial Federal Credit Union is one of the leading financial institutions in the state, with a reputation for combining personalized service with technologically advanced personal banking solutions. Learn more about our broad array of services online, follow us on Facebook, Twitter, and Instagram for news and updates, or call (808) 832-8700 on Oahu or toll-free at (800) 272-5255 with any questions.