How to Spot and Avoid Common Scams

Don’t Get Hooked: How to Spot and Avoid Common Scams

Digital banking has made managing money faster and more convenient—but it’s also created new opportunities for scammers. From account takeover scams using phone spoofing to fake online romances that drain bank accounts, fraud tactics are evolving rapidly. Fort Worth City Credit Union is committed to helping members stay informed, secure, and one step ahead.

Account Takeover Scams: What They Are and How They Work

One of the most dangerous scams in digital banking today is the account takeover scam. This type of fraud involves a criminal gaining access to a member’s online banking account—often by manipulating the victim into sharing sensitive security information like a two-factor authentication (2FA) code.

The Anatomy of an Account Takeover Scam

Scammers often impersonate financial institutions using spoofed phone numbers that appear legitimate on caller ID. They call or text the victim claiming there’s suspicious activity on the account. Then, they request the 2FA code that was just sent to the member’s phone—pretending it’s needed to “verify identity” or “reverse a fraudulent transaction.”

In reality, the scammer is attempting to log into the digital banking account in real time and using the “reset password” function.. Once the 2FA code is provided, they gain full access.

Red Flags to Watch For

  • Calls or texts from unknown numbers pretending to be Fort Worth City Credit Union or another bank

  • Calls or texts from a number that looks like FWCCU on your caller ID, but they ask suspicious questions or request personal information

  • Requests for 2FA codes, PINs, or passwords over the phone

  • A sense of urgency or pressure to act immediately

  • Unusual login alerts or unexpected changes to your account

How to Prevent Account Takeover Scams

  • Never share 2FA codes with anyone, even if the request seems legitimate.

  • Don’t trust caller ID. Scammers use spoofing tools to impersonate Fort Worth City Credit Union’s number.

  • Hang up and call back using the official number listed on Fort Worth City Credit Union’s website.

  • Use strong passwords and change them regularly.

  • Enable account alerts to monitor real-time activity.

What to Do If You’re a Victim of an Account Takeover

  • Contact Fort Worth City Credit Union immediately to report the fraud.

  • Change your digital banking password and review recent activity.

  • Notify the FTC at reportfraud.ftc.gov.

  • Consider placing a fraud alert on your credit file and monitoring your accounts closely.

Common Payment Scams to Know and Avoid

Scammers are getting more creative, but many of their tactics follow familiar patterns. Below are other prevalent financial scams targeting consumers in 2025—and how to stay safe.

P2P Fraud Scams

As peer-to-peer payment tools like Cash App or Venmo grow in popularity, scammers are finding new ways to exploit them—often by posing as fraud prevention agents. One of the most common P2P fraud scams starts with a phone call or text message claiming there’s been suspicious activity on your account. The scammer, pretending to be from Fort Worth City Credit Union or another financial institution, walks you through a process to “reverse the charge” or “verify your identity.” In reality, they’re guiding you to send money directly to the scammer via P2P.

Red flags include:

  • Being asked to send money to yourself or someone to “reverse” a fraudulent transaction

  • Urgent messages about account security that push you to act quickly

  • Any request to use P2P to recover or verify funds

To protect yourself:

  • Only use P2P to send money to people you know and trust

  • Fort Worth City Credit Union will never ask you to send money to anyone—including yourself—to stop fraud

  • If you suspect P2P fraud, stop the transaction and contact Fort Worth City Credit Union immediately

Another common example of P2P fraud involves scams on platforms like Facebook Marketplace, where fraudsters pose as buyers or sellers to trick users into sending money.

Here’s how that scenario typically plays out:

Facebook Marketplace Payment App Scam

Scammers often pose as sellers of goods that don’t exist, or interested buyers on Facebook Marketplace and claim they want to pay via P2P payment apps. They’ll insist of payment before meeting up then disappear without a trace, or send a fake payment app payment confirmation email or overpay you and ask you to send back the overage. In reality, no payment was ever sent, and once you send money back, it’s gone.

Red flags to watch for:

  • A buyer who insists on using payment apps, especially with urgency

  • Requests for additional fees or “account upgrades”

  • Fake confirmation emails that don’t come from an official payment app or bank domain

  • Overpayment or payment before meeting in person

How to stay safe:

  • Never send money to someone you haven’t met, especially for goods or services

  • Ignore pressure to act quickly or provide refunds for payments you never received

  • Check directly with the P2P payment app or Fort Worth City Credit Union if you receive a suspicious payment notice

Staying Safe with Fort Worth City Credit Union

Fort Worth City Credit Union is proactive in protecting member accounts with tools like multi-factor authentication, fraud alerts, and secure online banking technology. But staying protected also means staying informed.

Steps to Protect Yourself From Scams

  • Stay alert for phishing calls and texts. If in doubt, hang up.

  • Use strong, unique passwords for online banking.

  • Enable transaction and login alerts via Fort Worth City Credit Union’s digital banking platform.

  • Report suspicious activity immediately to Fort Worth City Credit Union.

  • Educate family members, especially seniors and teens, about scam tactics.

Final Word: Pause, Verify, and Report

Most scams succeed because of urgency and confusion. When someone pressures you to act fast—especially with sensitive information or money—it’s a red flag. Take a moment to pause, verify the source, and reach out to Fort Worth City Credit Union if anything seems suspicious.

For additional security tips or help with fraud recovery, visit fwccu.org/avoid-fraud or call us directly. Fort Worth City Credit Union is here to help members protect what matters most.

Fort Worth City Credit Union