In the VSECU Blog you'll find financial and lifestyle resources to help empower possibilities for your personal success.
If you receive a debit card in the mail claiming to be your COVID-19 stimulus payment, don’t throw it out! While over 140 million Americans have received their Economic Impact Payment from the federal government by direct deposit or as a check in the mail, a third form of payment may be arriving for those of you still waiting. On May 18, the U.S. Department of the Treasury and the IRS announced that roughly four million Economic Impact Payments will be sent in the mail as a prepaid debit card, often referred to as an EIP card.
COVID-19 has brought financial uncertainty to many, and even as we edge closer to recovery, the impacts of COVID-19 will be felt by many Vermonters for months to come. I sat down with Yvonne Garand, our senior vice president of marketing and business development, to talk about personal finance in the age of COVID-19.
Fraudsters will never let a good crisis go to waste. During this coronavirus outbreak, people’s attention is focused on the health and social impacts of COVID-19, which creates fear and confusion that thieves can use as a tool to steal information and, ultimately, money. So, in addition to social distancing and washing your hands, you should keep an eye out for this other type of germ—the online scammer.
Most of the fraudulent acts we see today are common schemes that have been around for years, but they are more effective now than ever before. Why? Our lifestyle, which keeps us constantly “connected,” has made it easier for fraudsters to perpetrate their schemes. Our smart devices: phones, watches, personal computers, autos, televisions, appliances, security cameras, printers, baby monitors, dog treat dispensers, and smart doorbells (just to name a few) help us feel connected but also make us vulnerable to cybercrime. Anything that is connected to and shares data with the internet is part of what is commonly referred to as the internet of things (IOT). Unfortunately, the IOT is also the future of fraud.
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Two weeks ago, we published a Facebook post about the security and convenience of mobile wallets like Apple Pay and Google Pay and heard from several people interested in learning more about the technology. Here is what you need to know about mobile wallets!
Elder Financial Abuse is one of the most despicable crimes committed because it targets our senior population and often wipes out the victim’s entire life savings. Fraudsters target the elderly because they know that they will likely get a larger payout for their efforts. The US Census Bureau estimates the number of adults over 65 will represent 20% of the population by 2030, compared to 13% in 2010. According to estimates, elder financial abuse puts billions of dollars into fraudsters’ pockets, so the expected growth in the elder population will likely make elder fraud more and more attractive to fraudsters.
Criminals love the holiday season. Why? Because it gives them more opportunities to steal payment card information. They do this at the register, online, by phone, and even at the gas station. Fraudsters have many techniques for committing card fraud. This article will outline some of their techniques and give you some tips for how to keep your payment card safe over the holidays.
As the holiday season approaches remember to protect yourself against fraud, which increases during this time of year. Every year, more and more people gravitate towards online shopping, making fraudulent activity harder to identify. Therefore, it’s important to pay more attention to your online practices and how they could potentially make you a victim.