Fraud Prevention & Security
Protect Your Money. Protect Your Identity.
Fraud can happen through phone calls, text messages, email, social media, mail, payment apps, and fake websites. Scammers often create urgency or fear to pressure you into acting before you have time to verify what is happening.
POLAM will never ask you to send money, share a one-time verification code, or move funds to a “safe” account to protect your money. When something feels unusual, stop and contact POLAM directly using the phone number on our website or on the back of your card.
STOP! Before You Send Money...
Hang up immediately if anyone tells you to:
- Buy gift cards
- Withdraw cash to “protect” your money
- Send cryptocurrency
- Wire money
- Transfer money to yourself
- “Test” your credit union
- Not trust POLAM Federal Credit Union
- Believe POLAM is under investigation
- Keep the transaction secret
Do not use a phone number supplied by the caller or message. Hang up and call POLAM directly at 800-404-5137 or use the number on the back of your card.
Common Scams
Scams change constantly, but the pressure tactics are often the same. Review these common fraud types, the warning signs to watch for, and the authoritative resources available for more information.
Bank Impersonation Scams
Scammers may call, text, or email while pretending to be POLAM or another financial institution. They may claim there is suspicious activity and pressure you to provide account information, a password, a one-time verification code, or to move money to a “safe” account.
Warning signs: Urgency, spoofed caller ID, requests for verification codes or passwords, and instructions to transfer funds.
Government Impersonation
A scammer may claim to represent the IRS, Social Security Administration, law enforcement, a court, or another government agency. They often threaten arrest, fines, account suspension, or loss of benefits unless payment is made immediately.
Warning signs: Threats, demands for secrecy, or payment by gift card, cryptocurrency, wire transfer, or cash.
Identity Theft
Identity theft occurs when someone uses your personal information without permission to open accounts, make purchases, file taxes, obtain services, or access existing accounts. Fast action can reduce further damage.
Warning signs: Unrecognized accounts, withdrawals, bills, credit inquiries, tax notices, or changes to account contact information.
Investment & Cryptocurrency Scams
Fraudulent investments may promise guaranteed returns, insider opportunities, or fast profits through cryptocurrency or online trading platforms. The account balance may appear to grow, but withdrawals are blocked or additional fees are demanded.
Warning signs: Guaranteed or risk-free returns, pressure to act quickly, cryptocurrency-only payments, and requests to pay more to withdraw funds.
Romance Scams
Romance scammers build trust through dating sites, social media, or messaging platforms, then ask for money for an emergency, travel, medical expenses, investments, or other urgent needs. The relationship may continue for weeks or months before the request.
Warning signs: Avoiding video or in-person meetings, inconsistent stories, requests for secrecy, and demands for gift cards, wires, or cryptocurrency.
Tech Support Scams
A pop-up, phone call, text, or email may falsely claim that your computer, phone, or account has been compromised. The scammer may request remote access, payment for unnecessary services, or your login and financial information.
Warning signs: Unsolicited support calls, alarming pop-ups, requests for remote access, and payment by gift card or cryptocurrency.
Business Email Compromise
Criminals may compromise or imitate a business email account and request a wire transfer, invoice payment, payroll change, or new banking instructions. Messages can look convincing and may appear to come from an executive, vendor, employee, or trusted partner.
Warning signs: Unexpected payment changes, urgent secrecy, look-alike email domains, and requests that bypass normal approval procedures.
AI Voice Cloning / Deepfake Scams
Scammers can use artificial intelligence to imitate the voice or appearance of a family member, executive, or trusted person. They may create a believable emergency and demand immediate payment before you can verify the story.
Warning signs: An unusual urgent request, pressure to keep it secret, refusal to call back on a known number, or payment requests outside normal habits.
QR Code (Quishing) Scams
A malicious QR code can send you to a fake login or payment page or attempt to install harmful software. Codes may appear in emails, text messages, mailed notices, parking meters, flyers, or stickers placed over legitimate codes.
Warning signs: Unexpected QR codes, altered stickers, shortened or unfamiliar web addresses, and requests to log in or pay immediately.
Elder Fraud
Older adults may be targeted through impersonation, romance, lottery, tech support, caregiver, investment, or family-emergency scams. Scammers often use isolation, fear, trust, or embarrassment to keep the victim from asking for help.
Warning signs: Sudden secrecy, unusual withdrawals, new online relationships, unpaid bills, or a new person controlling financial decisions.
Mail & Package Scams
Mail-related fraud may involve fake delivery notices, stolen checks, counterfeit checks, change-of-address schemes, or messages demanding a fee to release or redeliver a package. Criminals may also steal financial information directly from mail.
Warning signs: Unexpected delivery texts, requests for small redelivery fees, missing mail, altered checks, or unfamiliar change-of-address notices.
I Think I’ve Been Scammed
Act quickly, but do not let panic push you into another decision. The steps below can help you secure your accounts, preserve information, and begin reporting and recovery.
- Contact POLAM immediately. Call 800-404-5137 or use the number on the back of your debit or credit card. Ask about securing your accounts, cards, online banking, and recent transactions.
- Stop communicating and stop sending money. Do not make another payment, even if someone promises to recover money already lost.
- Preserve the evidence. Save emails, text messages, phone numbers, usernames, receipts, transaction details, wallet addresses, and screenshots.
- Change exposed passwords. Use a different strong password for each account and enable multi-factor authentication where available.
- Review your accounts and credit reports. Look for unfamiliar transactions, new accounts, or changes to your personal information.
- Report what happened. Reporting helps document the incident and may help authorities identify patterns affecting other victims.
Credit Freeze & Fraud Alerts
This is one of the most important steps to consider when your identity or personal information may be at risk. A fraud alert and a security freeze are different protections. Review both options and use the official links below to take action.
Fraud Alert
A fraud alert asks businesses to take additional steps to verify your identity before opening new credit in your name. It can be useful when you believe your personal information may have been exposed.
Security Freeze
A security freeze restricts access to your credit file, making it more difficult for someone to open new credit in your name. You can lift or remove a freeze when you need to apply for credit.
Identity Theft Recovery
IdentityTheft.gov can help you create a personalized recovery plan, document the theft, and prepare letters and forms for businesses and credit bureaus. If your Social Security number or tax information may have been used, review the IRS Identity Theft Central guidance as well.
Continue monitoring your POLAM accounts, credit reports, mail, and tax notices. Keep a written record of every report, phone call, confirmation number, and document submitted.
Elder Fraud
Fraud against older adults can involve a stranger, an online contact, a caregiver, a family member, or someone pretending to represent a trusted organization. Victims may feel embarrassed or afraid to speak up, but reporting quickly can help protect their remaining funds and prevent additional losses.
National Elder Fraud Hotline: 833-FRAUD-11 (833-372-8311), Monday–Friday, 10:00 a.m.–6:00 p.m. Eastern Time. The hotline provides free assistance with reporting and recovery resources.
Business Fraud
Business fraud may involve fake invoices, altered payment instructions, payroll diversion, account takeover, vendor impersonation, ransomware, or business email compromise. A single convincing email can redirect a legitimate payment to a criminal account.
Verify every unexpected request using a trusted phone number already on file. Use multi-factor authentication, require more than one approval for sensitive payments, train employees to recognize social engineering, and confirm banking changes outside of email.
Security Center
Use trusted, official resources to stay informed about current fraud trends, cybersecurity, consumer rights, and financial protection. Bookmark these sites and access them directly rather than through links in unexpected messages.
NCUA
Consumer information about credit unions, account protection, fraud prevention, and financial safety.
CISA
Cybersecurity alerts and practical guidance for protecting accounts, devices, businesses, and personal information.
Consumer Financial Protection Bureau
Consumer guidance for financial products, complaints, credit, debt, scams, and protecting your money.
On This Page
- Common Scams
- I Think I’ve Been Scammed
- Credit Freeze & Fraud Alerts
- Identity Theft Recovery
- Elder Fraud
- Business Fraud
- Security Center
Call us directly or use the number on the back of your card.
800-404-5137When in Doubt, Stop and Call POLAM
Do not rely on a caller ID, email address, text message, or phone number supplied by someone contacting you. End the communication and contact POLAM directly using a trusted number.
