Category Archives: Important Alerts & Scams

Protect Yourself from Social Security Scams

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With millions of Americans receiving Social Security benefits – whether it’s retirement, disability, or others – fraudsters have found impersonating the Social Security Administration (SSA) to be a lucrative scam. With the countless methods of communication in today’s day and age, it can be challenging to distinguish between legitimate messages and those from scammers. Whether you or someone you know currently receives Social Security benefits, or will one day soon – understanding the different Social Security scams and how to spot them is a powerful tool in protecting yourself and those you love.

What are Social Security Scams?

Social Security scams involve a fraudster impersonating Social Security employees to obtain personal or financial information. They will say there is a problem with your benefits and pressure you to take immediate action to resolve it, whether that is handing over your Social Security Number or providing payment in a specific form – such as gift cards or cryptocurrency.

It’s important to note that anyone who contacts you first and asks for a form of payment to resolve a personal or financial issue, especially when they are requesting gift cards or crypto (methods of payment that are nearly impossible to trace) – is always a scam.

What Does a Social Security Scam Look Like?

Scammers frequently change their tactics and messages to make themselves harder to spot, and easier to obtain the information they need to defraud you. Scammers impersonating Social Security personnel may attempt to contact you via phone, email, text message, or social media direct messages. The SSA is known to contact the public only by telephone call or direct postal mail, and will never text you or send you a message on social media. Below are common Social Security scams, based on mode of delivery.

  1. Phone Calls: Scam phone calls will involve a robotic voice, pretending to be from the SSA and will demand personal or financial information. The nature of these phone calls is often threatening, with pressure to take immediate action to resolve the issue or provide personal information. The SSA would never take a threatening tone with recipients of phone calls and if you receive this type of call, it’s a telltale sign that the call is fraudulent. Additionally, the scammer will often demand secrecy and ask that you don’t share the details of the call with those you trust. Lastly, if your caller ID shows the Social Security hotline number – that does not necessarily mean you are on the phone with a SSA employee. Scammers can spoof their phone number to make it look like the Social Security Administration on your caller ID.
  2. Emails: Scammers have been known to send emails with attachments that resemble official letters from the SSA or contain links to fake websites that looks like the Social Security Administration website. Within such an email – you will be prompted to enter your sensitive information into an online form that does not belong to the SSA, or click on a link that will download malware or a virus onto your device – which the scammer will use to steal your sensitive information.
  3. Text Messages: Social Security scam texts will often say there is a problem with your Social Security Number and will provide a call back number to resolve the issue. When you return the call, you will be on the phone with a scammer who will try to take your personal or financial information. There are very few instances in which you would receive a text from the SSA, which can be found here. In those cases, the SSA will never ask that you return a call to an unknown number – especially one that is not associated with the Social Security Administration.
  4. Social Media Direct Messages: Fraudsters have been known to create fake social media accounts pretending to be the SSA. They will then use those accounts to send direct messages asking for your personal or financial information. Once again, the SSA will never contact you through social media. These fake accounts will often have few followers, incorrect punctuation or spelling, and link to pages, forms, or documents that are not associated with the SSA. Visit ssa.gov/socialmedia for a directory of the social media channels the SSA uses for public information.

Stay Vigilant to Social Security Scams

The SSA will never demand that you share your personal information, such as your Social Security Number or bank account details, by contacting you out of the blue or in ways that are not secure. Additionally, Social Security employees will never demand payment, threaten arrest or legal action, or freeze your bank account or other assets if you refuse to divulge your personal information.

If you have received a suspicious communication or are worried you have fallen victim to a Social Security scam, you can report it to the Office of the Inspector General at oig.ssa.gov/report. It can also be reported to the Federal Trade Commission (FTC) at reportfraud.ftc.gov.

First Financial wants to help you safeguard your personal and financial information from fraudsters. If you are ever concerned that your First Financial accounts have been compromised, don’t hesitate to call us at 732.312.1500 or visit your local branch.

Red Flags in Rescue: Don’t Fall for a Pet Adoption Scam

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At First Financial, we know how much joy a new furry friend can bring. If you’re looking to adopt a pet online, be cautious. Pet adoption scams are on the rise, and can leave aspiring pet owners with their hearts broken, wallets drained – and one big financial headache.

These scams typically occur online through fake websites, social media posts, or classified ads. Scammers will post adorable photos of animals that aren’t real or aren’t available – to lure you into paying for adoption fees, shipping costs, and/or vaccinations. Once you send the money, the scammer will disappear or “ghost” you, and you’ll unfortunately never get your desired pet.

According to the Better Business Bureau, thousands of aspiring pet parents fall victim to puppy adoption scams and similar fraud each year. Victims report losing anywhere from $500 to $2,000 per scam, often without any recourse for recovery.

Whether you’re searching for a rescue or a purebred pet, it’s important to understand the red flags of fraudulent listings before sending any money.

Red Flags to Watch Out For

Be sure to watch out for these common warning signs of a scam:

  • Too-good-to-be-true offers. Purebred puppies or exotic pets listed at a low cost or as “free to a good home.”
  • Unusual payment methods. Scammers will often ask for wire transfers, gift cards, Venmo, or Zelle – all methods that are hard to trace.
  • No video calls or visits. The “seller” avoids letting you see the pet in real time or meet in person.
  • Pushy tactics. You’re pressured to pay quickly before someone else “claims” the pet.
  • Shipping costs. Many times, the scammer will want to ship the pet – charging you more for shipping fees, vet clearance, etc.

How to Avoid Pet Adoption Scams

Before you click “send” on any payment, follow these tips to protect yourself:

  1. Research the rescue agency or breeder. Look for reviews, verify their business license, and check for complaints on BBB.org.
  2. Never pay with untraceable methods. Use a credit card or secure payment system that offers fraud protection.
  3. Insist on an in-person meetup. There are plenty of animals waiting to be adopted. Only adopt one that you’ve met in real life.
  4. Avoid emotional decisions. Scammers will prey on your love for animals. Take your time and don’t let urgency cloud your judgment.
  5. Adopt locally when possible. Visit your local animal shelter or reputable rescue organization in person.

What To Do If You’ve Been Scammed

If you think you’ve been the victim of a pet adoption scam, take immediate action:

  • Report the fraud to the Federal Trade Commission (ftc.gov) and Better Business Bureau.
  • Contact your financial institution to try to reverse or stop any payments.
  • File a police report, especially if significant funds were involved.

Protecting You & Your Finances

First Financial cares about your financial safety and well-being. Before you adopt, take a moment to ensure you’re working with a trusted source. If you ever have questions about suspicious transactions on any of your First Financial accounts or protecting your financial information, our team is here to help. Contact us, stop into your local branch, or visit our website for more financial wellness tips.

Received a Package You Didn’t Order? Brushing and QR Code Scams

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Have you received a surprise package at your doorstep recently? Packages from an unknown sender, especially those including a QR code – are likely part of a dangerous new brushing scam. With new scam tactics evolving constantly, knowing what to look out for and how to respond is important. At First Financial, we’re here to help you recognize these schemes and protect your personal and financial information.

What is a Brushing Scam?

A brushing scam is when someone receives packages they didn’t order, often low-cost or counterfeit items like beauty products or small electronics, from a seller trying to boost their online reputation. The scammer uses the recipient’s personal information (often obtained through data leaks) to create fake customer reviews, falsely increasing the legitimacy of their product listings. While the merchandise may seem harmless, the real concern is that your personal information – name, address, or even online account details, have likely been compromised.

The New Twist: QR Code Scams in Packages

Scammers are now also including QR codes in these unexpected packages. The note may say the QR code will reveal who sent the gift, provide return instructions, or offer a bonus or prize. But in reality, scanning the code could redirect you to a phishing website designed to steal sensitive information like your login credentials or credit card number. Even worse, it may install malware on your device, giving hackers access to your data and apps.

How to Protect Yourself from QR Code and Package Scams

Don’t Scan Unfamiliar QR Codes: If you receive a package you didn’t order, avoid scanning any QR codes inside. These can be designed to mimic legitimate company branding and lead to fake websites that steal personal data.

Check Your Online Shopping Accounts: If the package came from a known platform like Amazon or eBay, login to your account and look for any unauthorized orders. If you see suspicious activity, change your password immediately and report the fraud to the platform.

Change Your Passwords: It’s a good idea to update your passwords on shopping accounts and your email if you received a suspicious package. Always use strong, unique passwords and consider enabling two-factor authentication for extra security.

Don’t Contact the “Sender”: Don’t attempt to reach out, even if a name, phone number, or website is included in the package. Scammers may use this opportunity to trick you into providing more personal details under the guise of resolving the issue.

Monitor Your Credit and Accounts: Visit AnnualCreditReport.com to review your credit report and look for any unfamiliar accounts or inquiries. Also, check your bank and credit card statements for unauthorized transactions.

Consider Freezing Your Credit or Adding a Fraud Alert: If you believe your personal information may be at risk, take additional steps like placing a fraud alert on your credit report or freezing your credit to prevent new accounts from being opened in your name.

Keep Devices Secure and Updated: Ensure your phone and computer software are continuously updated with the latest security patches. A secure device is your first line of defense against malware and phishing attempts.

Use Trusted QR Scanner Apps: If you must scan a QR code, use a QR code scanner app that shows you the destination URL before redirecting you. This provides a chance to spot suspicious links before it’s too late.

What to Do if You Think You’ve Been Scammed

If you received an unsolicited package, scanned a QR code, or noticed suspicious activity on your accounts:

  • Change your passwords immediately – Update and strengthen passwords for your financial and email accounts right away.
  • Contact your financial institution – Report the incident and monitor for any unauthorized transactions.
  • Monitor your credit – Visit AnnualCreditReport.com to review your credit report and closely check for suspicious inquiries or accounts.
  • File a report with the FTC at ReportFraud.ftc.gov and, if necessary, start a recovery plan at IdentityTheft.gov.

Stay Safe with First Financial

We’re dedicated to helping our members stay informed and protected from scams. If you ever suspect fraud or have concerns about any of your accounts, call us at 732.312.1500 or visit one of our local branches.

Home Sweet … Home Improvement Scam?

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Deciding to take on a home improvement can be a big commitment, especially when you have to entrust a contractor with turning your dreams into reality. Unfortunately, scammers posing as trustworthy contractors are promising to do the work – and leaving your home and wallet to take the hit. Before you hire a home improvement contractor, consider these red flags that could indicate that a home improvement scam is happening to you.

What is a Home Improvement Scam?

A home improvement scam begins with receiving a flyer in the mail, viewing an advertisement on social media, or being met with an unsolicited knock on the door from a contractor. The so-called “contractor” will say they were working on another project in your neighborhood and had leftover supplies or were looking for new projects to take on because they would be working “in the area” for the foreseeable future. They are hoping that you have a home improvement need, or that you have been waiting to find a contractor that can meet your requirements. The contractor will somehow check off all the boxes – whether it’s completing the project in a short timeframe or within your budget. However, before you hire the contractor and even after the contractor begins your project – the red flags will start to come out. In the end, your home improvement project might cause additional damage to your home or financial situation, or not be completed at all.

Signs of a Home Improvement Scam

It might seem difficult to tell the difference between a trustworthy and not-so-trustworthy contractor. Below are some red flags that can signal you’ve been approached by a scammer.

  • Pressure to Make an Immediate Decision: A real contractor knows that undertaking a home improvement project isn’t a decision that can always be made immediately. Whether it’s consulting others that should be involved in the decision-making process, or confirming that the project is in your budget – there are countless reasons to “sleep on it.” Plus, getting the green light from your partner and your budget – will make you confident in your decision. A fraudster will persuade you into making an immediate decision so you don’t have time to pick apart the interaction or analyze any red flags.
  • Unrealistic Budget or Timeframe: There might be a reason that the contractors before this one could not complete your project to your specifications. Be cautious if you are approached by a contractor who says they can complete your project in half the time or for half the price that other contractors have given you.
  • Asking for Payment Upfront or Only Accepting Cash: This could signal that a contractor is not planning on completing the project, or that they are not planning on completing the project correctly. If a contractor asks you for payment upfront to “buy the materials,” be cautious.

Tips to Avoid Home Improvement Scams

Here are ways you can protect your home, and your wallet – from home improvement scams.

  • Ask for References: Scammers will be reluctant to hand over references, namely because they do not have good ones. Additionally, scammers won’t want to wait around for you to do your homework because they know they won’t get your business based on what you find. Reputable contractors will gladly hand over references so you can confidently make the decision in hiring them to complete your home improvement project. Their references will speak to the quality of work you can expect if you hired them to take on your project. If someone you know and trust recently completed a home improvement project, consider asking them for recommendations.
  • Get Multiple Estimates: Obtain written estimates detailing the work to be completed, the materials needed, and the anticipated price and completion date. If one estimate is substantially lower than all of the others, consider why this estimate is the odd one out. It might be tempting to go with the lowest estimate. However, this low estimate might end up costing you more in the long-run if the work is completed poorly, is completed using substandard materials, or isn’t completed at all.
  • Do Your Research: Check with organizations, like your local Home Builders Association, to see if any complaints were made against a contractor. You should also look up the business or contractor’s name with words like “scam,” “fraud,” or “complaint.” The Better Business Bureau also has a tool to find BBB Accredited businesses near you.
  • Know the Law: Ensure that the contractor you hire has the proper identification, licensing, and insurance needed to complete the project in your state. Additionally, if you are signing a contract to complete work – ensure that the contract includes all the specifics of completing the project.

First Financial knows that finding the right contractor is important. If you believe that you have fallen victim to a home improvement scam and your financial information has been compromised, don’t hesitate to visit a local branch or call us at 732.312.1500.

If you have found the right contractor and are looking for a way to finance your home improvement project, be sure to check out our Home Improvement Loan. We’ve got great rates, up to 10-year terms, and fixed monthly payments.* Apply online 24/7!

*Available on primary residence only. A First Financial membership is required to obtain a Home Improvement Loan and is open to anyone who lives, works, worships, volunteers, or attends school in Monmouth of Ocean Counties. See credit union for details. Rate will vary based off of applicant’s credit rating. Not all applicants who apply will be approved, subject to underwriting guidelines and credit approval. Lien position and appraisal valuation may affect the maximum loan amount. Not all applicants will qualify for maximum Loan to Value (LTV) ratio. It will be based off of creditworthiness, property type, occupancy, lien position, and loan amount. Rates will be affected by LTV or combined LTV if there is another lien on the property. Loan amounts over $7,500.00 will be required to give First Financial FCU a security interest in their property. Rates will vary based off of lien position and whether the loan is mortgage secured or unsecured. For mortgage secured Home Improvement loans First Financial FCU (FFFCU) will waive closing costs at inception of loan. If loan is terminated within the first 2 years of opening, closing cost waiver is revoked and are required to b

Protect Yourself from Mortgage Closing Scams and Wire Fraud

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Closing on a new home is one of life’s most exciting milestones, but it also comes with financial risks — especially due to increasing mortgage closing scams and wire fraud. Scammers have been known to target homebuyers during the closing process, attempting to divert large sums of money into fraudulent accounts through phishing schemes. Falling victim to one of these scams can mean losing your down payment and closing costs, sometimes totaling hundreds of thousands of dollars.

At First Financial, we want to ensure our members are informed and prepared during primetime for buying a home – spring. Here’s what you need to know about mortgage closing scams and how to protect yourself from wire fraud.

How Mortgage Closing Scams Work

Fraudsters will often use sophisticated phishing tactics to deceive homebuyers into sending their closing funds to fake accounts. Here’s how they do it:

  • Email compromise: Scammers may hack into or spoof the email accounts of real estate agents, lenders, title companies, or attorneys. They will create similar email addresses, changing just a letter or number which often goes unnoticed. If successfully hacked, email conversations are monitored to identify upcoming closings.
  • Fake wire instructions: Once they’ve gathered enough details, the scammer will send an email impersonating a trusted party. These emails usually contain official-looking branding, logos, and signatures to appear legitimate.
  • Urgent request for a wire transfer: The fraudulent email will instruct the homebuyer to send funds to a different bank account, often citing last minute changes or updates.
  • Quick withdrawal of funds: Once the money is wired, the scammer will immediately withdraw or transfer the funds – making recovery extremely difficult, if not impossible.

These scams can be incredibly convincing, and even careful homebuyers can fall victim if they don’t take proper precautions.

Signs of Mortgage Closing Scams & Wire Fraud

  • Unexpected last minute changes to wire instructions – If you receive an email stating that your payment details have changed, be extremely cautious and call the title company or lender directly.
  • Emails with urgent or high-pressure language – Scammers typically try to create a sense of urgency, making you feel like you must act immediately.
  • Slightly altered email addresses – Fraudsters will create emails that look nearly identical to those of real estate professionals, often with minor spelling changes or different domains (e.g., @company.com vs. @company-mail.com). Always double check the email addresses you are responding to before sending money or financial information.
  • Requests for financial information via email – Legitimate real estate professionals, lenders, title agencies or attorneys will never ask for sensitive financial details through regular unsecure email.
  • Links or attachments from unknown sources – Clicking on malicious links can give scammers access to your email account and financial details.

How to Protect Yourself

  • Verify wire instructions in person or over the phone – Before wiring any funds, call your lender or title company using a trusted phone number — not one from an email. Confirm the payment details with someone you have spoken to over the course of the mortgage process.
  • Avoid emailing financial information – Email is not secure, and sensitive financial information should never be shared via email. If you need to send any documents, ask about secure portals or encrypted options.
  • Be wary of last minute changes – Scammers will often introduce urgent changes to wire transfer details right before closing. If you receive unexpected instructions, verify them with your lender or title company in person or via a known phone number.
  • Use multi-factor authentication – Enable multi-factor authentication (MFA) on your email and financial accounts. This adds an extra layer of security by requiring a second form of verification when logging in.
  • Monitor your transactions – Follow up immediately with your title company or lender after any transactions to confirm they were received. Any discrepancies should be reported immediately.
  • Establish a security code with your real estate team – Work with your real estate agent and title company to create a unique security phrase or code word to use when discussing financial transactions.

What to Do If You Become a Victim of Mortgage Wire Fraud

  • Contact your bank – Request a wire recall to try to recover the funds.
  • Report any fraud to the FBI – File a complaint with the FBI’s Internet Crime Complaint Center (IC3) at ic3.gov.
  • Notify your real estate agent, title company, and lender – They may be able to assist with stopping the transaction or preventing further fraud attempts.

Time is critical — the faster you act, the better your chances of recovering your money.

Protect Your Home Purchase with First Financial

We’re committed to helping our members navigate the homebuying process safely. Whether you’re applying for a mortgage, looking for home financing advice, or seeking fraud prevention tips – we’re here to help.

To learn about our mortgage services check out our Homebuyers Guide and website, call us at 732.312.1500, or visit a branch. Subscribe to our First Scoop Blog for more expert advice on protecting your finances!

Sneaky Six: IRS Scams Taxpayers Should Watch Out For

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IRS scammers have been around for a long time and they’re sticking around because, unfortunately – people keep falling for their changing tactics. Knowing this, the Internal Revenue Service (IRS) annually publishes a list of tax scams coined the Dirty Dozen, in an effort to increase awareness. Here are some of the most common scams that taxpayers should watch out for year-round, but especially during tax time.

1. Someone Using Your Social Security Number to File Taxes

A scammer might attempt to beat you to the chase – that is, beat you to claiming your own tax refund. This tax scam occurs when a fraudster uses your social security number to file and claim a tax refund. Oftentimes, the first inkling that you’re a victim is if the IRS rejects your tax return once you file. There are various reasons your tax return can be rejected, but it’s a surefire sign of identity theft if the IRS has another tax return filed in your name or a record of income from an employer you don’t work for.

There are resources available to you if someone has stolen your identity and filed a tax return with the IRS. First, you should report the identity theft to IdentityTheft.gov. This government website will aid you in creating various documents, such as an IRS Identity Theft Affidavit and personal recovery plan. You should then submit your Identity Theft Affidavit to the IRS – which notifies them of your case to begin investigating it. Alternatively, you can obtain the Identity Theft Affidavit directly from the IRS and submit it by mail. Lastly, follow the steps in your personal recovery plan to help mitigate the fallout and limit the personal and monetary damages of identity theft.

2. Ghost Tax Preparers that Disappear with Your Cash

While many tax preparers act with professionalism and integrity, tax season gives rise to unscrupulous tax preparers called “ghost preparers” who misguide taxpayers in an effort to make a quick buck or disappear with their refunds. These preparers take advantage of tax credits or deductions the taxpayer doesn’t qualify for, or invent fake sources of income to entice them with fake large refunds. They falsify tax returns in an effort to maximize the amount of the refund because they often charge a “percentage fee” based on the amount of the return. The ghost preparer typically refuses to sign the return after it is prepared, allowing them to disappear with their payment and leave you to deal with the consequences of falsifying a tax return. It is best practice to avoid any tax preparer who charges a cash only fee, does not give you a receipt, or who charges a percentage of your refund as their preparer fee. In addition, one who tries to invent false income or get tax credits and deductions you aren’t qualified for, or who deposits your refund into their own account – will typically “ghost” you.

3. Email and Text Scams

Many scams impersonating legitimate organizations begin with unsolicited emails and text messages, and IRS scams are no exception. The IRS will never demand immediate payment of a tax bill and threaten consequences for not doing so via email or text message. Similarly, the IRS will never notify you of a large tax refund via email or text message. These emails and text messages may also prompt you to click links that would download malicious software on your device or steal your personal and financial information. In the event the IRS needs to contact you, communication is typically initiated through regular U.S. mail. There are exceptions to this, as well as other ways the IRS may contact you – which can be found on the IRS webpage how to know it’s the IRS.

4. Bad Social Media Advice

In an effort to increase views and generate income, some social media influencers have been known to share bad tax advice using clickbait – or content that is designed to attract attention and entice users to click. It is hard to ignore content with headlines such as “find out how this little-known tax deduction can increase your tax refund.” Additionally, some influencers will have you pay to subscribe to gain access their exclusive “tax advice” on various platforms, but they are essentially just taking your money and sending you on your merry way – with incorrect tax advice. If you interact with this content and follow their bad advice, not only will you file a fraudulent tax return – but you also encourage these influencers to continue producing misleading content.

5. Fake Tax Bill

If you receive an urgent request to pay a tax bill with gift cards, cryptocurrency, or any other unusual yet specific method of payment – it’s a fake tax bill scam. The IRS will never call to demand immediate payment or make threats if you cannot render payment. As mentioned previously, the IRS will only contact you via regular U.S. mail.

6. IRS Individual Online Account Help Scam

An individual online account through the IRS provides taxpayers with a portal to access their tax information, such as payment history and tax records. Scammers are now posing as third parties to assist with setting up these online accounts to steal taxpayers’ personal information, submit fraudulent tax returns, and take their tax refunds. The scammer may also sell the personal and financial information to other fraudsters who may file fake tax returns and steal refunds, open loans and credit accounts in the taxpayer’s name, and ultimately steal their identity.  The IRS has a guide to establishing an IRS online account and avoiding scams.

First Financial knows that tax season can be hard enough, and that’s without the worry of being scammed being added into the mix. If you have any questions or reason to suspect that your information has fallen into the hands of a scammer this tax season, don’t hesitate to contact us at 732.312.1500 or visit us at your local branch.