We all love a good deal. And as September rolls around, even if Arizona temperatures still say summer, many of us are shifting into fall routines and starting to think ahead to holiday shopping, travel, and year-end expenses.
Unfortunately, scammers love a good deal too. More specifically, they love using an unbelievable offer to get your attention.
A deeply discounted product. An unexpected prize. An investment promising huge returns. A message saying you've been selected for an exclusive opportunity.
If a deal sounds too good to be true, it probably deserves a closer look.
Watch for These Red Flags
Fraudulent offers can look surprisingly legitimate. Before handing over money or personal information, watch for signs like:
Pressure to act immediately. “Today only!” or “You have 10 minutes to claim your offer!” can be tactics designed to keep you from thinking things through.
A price that's dramatically lower than everywhere else. A great sale is one thing. A brand-new, expensive item offered for a fraction of its normal price is another.
Unusual payment requests. Be cautious if you're asked to pay with gift cards, cryptocurrency, wire transfers, or another difficult-to-reverse payment method.
Requests for unnecessary personal information. A seller shouldn't need your online banking password, PIN, or verification code to complete a purchase.
An unfamiliar website or seller. A professional-looking website or social media account doesn't automatically mean it's legitimate.
Unexpected prizes or winnings. If you don't remember entering, that's a red flag. And legitimate prizes generally shouldn't require you to pay a fee just to receive your winnings.
Ask Yourself These Questions
Before you click “Buy,” send money, or provide information, give yourself a minute and ask:
Why is this deal so much better than every other offer?
Compare prices with a few reputable retailers. If everyone else is selling something for $500 and one unfamiliar website has it for $75, find out why.
Can I verify who's behind the offer?
Search for the company independently rather than relying on links provided in an ad, email, or text. Look for established contact information, reviews, and a clear return or refund policy.
Why do I have to decide right now?
A legitimate business should give you enough time to understand what you're purchasing. Extreme urgency is a reason to slow down, not speed up.
Why are they asking me to pay this way?
Consider whether the requested payment method makes sense. If someone insists there is only one way to pay, especially through a method that's difficult to reverse, be cautious.
What information are they asking me to provide?
Think about whether the information actually makes sense for the transaction. Never provide passwords, PINs, or security codes to someone who unexpectedly contacts you.
Give Yourself Permission to Walk Away
One of the easiest ways to protect yourself from fraud is also one of the simplest: slow down.
Scammers often want you to feel like you'll miss out if you don't act immediately. But missing a questionable “deal” is much better than losing money or compromising your personal information.
Take a few minutes to research. Ask someone you trust for a second opinion. Contact the company using information you find independently.
And if the deal still doesn't add up, walk away.
When it comes to protecting your money, a little skepticism can be a very good thing. If you ever receive a suspicious message or request involving your Landings Credit Union account, contact us directly using a trusted Landings contact method.