Frauds, Scams, and Lies, Oh My!

2016 Feature article by Alliance sponsor Summit Credit Union

Crooks are constantly coming up with creative ways to steal your hard-earned money. Here are just a few schemes that are currently making their rounds.

IRS Impostors. During tax time fraudsters pose as IRS agents who threaten arrest or seizure of property unless immediate payment is made for alleged back taxes. Threats come in the form of phone calls or even in emails which link to a look-alike IRS website. Sometimes their approach is that they owe you money and need to get it to you. In either case the crooks are just hoping to get your banking information so they can loot your bank account. Remember the IRS never contacts anyone by phone or email, only by certified letters.

Medical Fraud. Baby boomers are getting older and frequently get calls promising that “our doctor can certify you for a free electric wheelchair.” They then ask for a Social Security number and Medicare and secondary insurance information so a fraudulent claim can be filed. Medicare loses an estimated $60 billion a year to fraud.

Lotteries and Sweepstakes. You can’t win if you didn’t enter, but every week victims fall prey to phone calls, letters with enclosed checks, or even emails saying they have won millions. All the victim has to do is send a money order to pay initial taxes or provide banking information so the crooks can “transfer the winnings into your account.” Of course, in either case, there are no actual winnings.

These are just a few of the ways crooks try to defraud consumers and/or steal their identity. Summit Credit Union has a full seminar for your employees that it will bring to your work location at no cost. For details, contact Lindy Fuller at 336-662-6259 or


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