Preventing Financial Scaries: Don't Let Scammers Haunt Your Wallet
- October 7, 2026
- CoVantage Credit Union
Halloween is right around the corner, but scammers don’t need a costume to disguise their tricks!
Protecting yourself from financial frights starts with staying informed. The more you know about scams and the tactics used, the better equipped you can be to recognize red flags and hopefully avoid becoming a victim.
As the Consumer Financial Protection Bureau points out, there are several different categories of scams.
This blog will focus on three types in particular that can cause quite a fright: blackmail, romance, and imposter scams.
Blackmail scams are when a blackmailer threatens to share information about you. To keep them from sharing that information, they demand money.
These situations can be especially worrisome because it could be information you really do not want to be shared with others, whether that be personal or private information.
The CFPB advises staying calm. Report the scam to the police and to your local Federal Bureau of Investigation (FBI) field office.
Not all scams are as obvious though. Romance scams are tricky because the premise of the scam is that someone tricks you into falling in love with them. But things take a turn when that person asks you to send them money.
These scammers may spend time talking to you to build trust and make you feel like the relationship is real before asking for money.
Being aware of who you are talking to is critical. Be mindful of what information you’re sharing online, through social media, or via text.
Do not send money or information like bank account numbers, credit card information, or a Social Security number with a new love interest.
The Federal Trade Commission notes that if you have already paid a romance scammer with things like a credit or debit card or wire transfer, contact your financial institution right away.
Impostor scams are exactly what they sound like: someone pretends to be someone else to get you to share information with them.
Scammers may pretend to be from a business that you know or even a government agency. Sometimes they might even tug at your heartstrings by pretending to be from a charity.
Consider the timeliness of the communication. Did you get an unexpected call or text? The FTC says never send money to someone you don’t know in response to an unexpected call or message.
A big reminder here is that caller ID, texts, and emails can all be faked. Artificial intelligence (AI) has added another layer to this, because voices can be altered.
Never click on links or call phone numbers from unexpected messages.
Reach out to the organization using their official phone number. Don’t use the contact information from the unexpected communication.
While scams may take many forms, they often share the same goal: getting access to your money or personal information. Understanding the warning signs can help you stay one step ahead of fraudsters. The more aware you are, the better equipped you can be to protect yourself and your loved ones.
As the spooky season approaches, CoVantage Credit Union hopes that your Halloween is filled with no tricks and only treats! 🎃🍬👻
Protecting yourself from financial frights starts with staying informed. The more you know about scams and the tactics used, the better equipped you can be to recognize red flags and hopefully avoid becoming a victim.
As the Consumer Financial Protection Bureau points out, there are several different categories of scams.
This blog will focus on three types in particular that can cause quite a fright: blackmail, romance, and imposter scams.
Blackmail scams are when a blackmailer threatens to share information about you. To keep them from sharing that information, they demand money.
These situations can be especially worrisome because it could be information you really do not want to be shared with others, whether that be personal or private information.
The CFPB advises staying calm. Report the scam to the police and to your local Federal Bureau of Investigation (FBI) field office.
Not all scams are as obvious though. Romance scams are tricky because the premise of the scam is that someone tricks you into falling in love with them. But things take a turn when that person asks you to send them money.
These scammers may spend time talking to you to build trust and make you feel like the relationship is real before asking for money.
Being aware of who you are talking to is critical. Be mindful of what information you’re sharing online, through social media, or via text.
Do not send money or information like bank account numbers, credit card information, or a Social Security number with a new love interest.
The Federal Trade Commission notes that if you have already paid a romance scammer with things like a credit or debit card or wire transfer, contact your financial institution right away.
Impostor scams are exactly what they sound like: someone pretends to be someone else to get you to share information with them.
Scammers may pretend to be from a business that you know or even a government agency. Sometimes they might even tug at your heartstrings by pretending to be from a charity.
Consider the timeliness of the communication. Did you get an unexpected call or text? The FTC says never send money to someone you don’t know in response to an unexpected call or message.
A big reminder here is that caller ID, texts, and emails can all be faked. Artificial intelligence (AI) has added another layer to this, because voices can be altered.
Never click on links or call phone numbers from unexpected messages.
Reach out to the organization using their official phone number. Don’t use the contact information from the unexpected communication.
While scams may take many forms, they often share the same goal: getting access to your money or personal information. Understanding the warning signs can help you stay one step ahead of fraudsters. The more aware you are, the better equipped you can be to protect yourself and your loved ones.
As the spooky season approaches, CoVantage Credit Union hopes that your Halloween is filled with no tricks and only treats! 🎃🍬👻