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Did you know that in 2023 there were 2.6 million fraud incidents reported to the Federal Trade Commission? Or that the median loss per fraud incident, in the state of Minnesota in 2023 was $500? Did you know that the median loss on investment scams and romance scams in America was $3,800 and $3,600 respectively, according to the Better Business Bureau? These numbers are certainly frightening, but you can avoid becoming a part of this statistic by following some simple rules of thumb.  

First, be cautious with anyone you meet online. Do not send any money to someone you haven’t met and refrain from divulging personal information through online communication. Beware of offers and opportunities that may seem too good to be true. 

Second, only click on links from reputable and known sources. Don't open attachments or click on links in unsolicited messages that you receive. Scammers use false links and attachments to infect your computer with malware (short for malicious software) that could track your mouse, remember your keystrokes, and scan your files. If you receive a message from someone you know that seems unusual, reach out to that person directly through known legitimate communication methods instead of replying to the unusual message. 

Third, when responding to requests, take a step back and assess the situation. Don't feel pressured to act immediately. Scammers use the illusion of deadlines to amplify fear and try to force their victims to act quickly before they have a chance to think about what they are doing. Think about if the request makes sense. Do research on the request or contact local authorities if you feel uncomfortable with the situation. 

What should you do if you think you may be the victim of a scam? Report it to someone who can help. The first and immediate response is to contact local law enforcement. Other options include:   

• Report to the BBB. The Better Business Bureau has a scam tracker at bbb.org/scamtracker that you can report to and/or search existing known scams. The BBB website also has a survival kit for those that have been victims of a scam at bbb.org/scamsurvivalkit. To learn more about scam prevention techniques, visit bbb.org/scamprevention. 
• Contact your banker. Pioneer Bank bankers are here to help. They will help walk you through the situation and work to protect your accounts going forward.  

Identity theft may be included in a scam. The federal government has a resource for identity theft victims at identitytheft.gov (a Spanish version of the website is available at robodeidentidad.gov). These resources have step by step guides to help protect you from loss and restore your safety and security. 

Pioneer Bank offers Kasasa Protect. Kasasa Protect is a identity theft and restoration service that includes 24/7 credit monitoring, dark web monitoring, identity restoration if your information has been compromised, and much more. You can learn more here. 

You can protect yourself from being scammed. Be cautious, don't click on links from unfamiliar sources and slow down and assess your situation.