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Don’t Let Fraud Take a Summer Vacation 

Posted by WESTconsin Credit Union
May 2023

Summer is a season for sunshine, celebrations, and well-deserved time off. With many employees out of the office and calendars filled with holidays, it's also a prime time for scammers to strike. 

Fraudsters often take advantage of reduced staffing and out-of-office messages to launch deceptive email scams that appear to come from executives or coworkers. These emails typically contain urgent requests, such as processing a payment or updating invoice information, and can trick even vigilant employees into unknowingly sending funds or sensitive data. 

At WESTconsin Credit Union, protecting our members and local businesses from fraud is a top priority. To help safeguard your organization this summer, and year round, here are some best practices to reduce the risk of falling victim!  

Smart Steps to Protect Your Business from Fraud: 

  • Educate your team: Train employees to spot suspicious emails, question unusual requests, and independently verify any changes in payment methods or instructions, especially if they’re asked to act urgently or secretly.
  • Use verbal confirmation: When in doubt, pick up the phone. Call the requester using a trusted number, not one provided in the email.
  • Monitor your accounts regularly: Keep a close eye on account activity to catch any unauthorized transactions early.
  • Implement dual control for payments: Require two people to approve all financial transactions.
  • Protect your credentials: Never share passwords, usernames, or authentication codes, even if the request appears to come from a colleague.
  • Keep it private: Avoid posting sensitive business information on social media.
  • Use professional email domains: Free email services can be more vulnerable to hacking. Always use a company domain for business communication.
  • Secure similar domain names: Register domains that closely resemble your official domain to prevent impersonation.
  • Avoid using “Reply” to verify requests: Instead, click “Forward,” manually enter the known, trusted email address, or select it from your address book.

Stay Alert. Stay Protected. 

Fraud prevention starts with awareness. For more security tips and tools, visit westconsincu.org. And if you suspect you’ve been targeted by a scam, don’t wait! Contact WESTconsin Credit Union immediately at (800) 924-0022 or visit your local office

Let’s keep fraudsters out of office this summer!