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Warning: Money Scam Targets Teens

High school-aged youth are currently being targeted by money scammers across the United States. This common scheme normally targets adults, but has moved to a younger generation. As a community credit union, we want to alert our members about this scary situation taking place in our neighborhood.

Criminals are using social media, dating apps, and texting to reach out to teenagers while promising them money. Through these channels, they are being sent snapshots of checks and asked to deposit them into personal accounts. Once deposited, they are told to send back a portion of the funds by mailing gift cards or using cash apps. Teens are also urged to send mobile banking login information to the criminal for a faster turnover. The check eventually comes back as counterfeit and the teen is then responsible for the funds. In order to stop the spread, parents must inform their children of this scheme.

Here are a few ways to advise them:

  1. Always trust your instincts.
  2. Never give personal login information to anyone.
  3. Do not take checks from individuals you do not know.
  4. Stay cautious when meeting people online.
  5. Do not send money to strangers on cash apps.

Please reach out to us at (205) 930-5000 if you believe your teenager has experienced any sort of money fraud.  We are always here to help!

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