Steer Clear of Scams This Tax Season

Volume 14, Issue 3
March 2020

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Steer Clear of Scams This Tax Season

With tax and loan renewal season in full swing, it seems like it’s peak season for paperwork. Unfortunately, this means it’s also peak season for scam artists.

Fortunately, most scam attempts can be foiled with a few basic precautions. Here are a few of the common ways scammers try to fool you and some steps you can take to protect yourself.

Caller ID Spoofing

A common scam is Caller ID Spoofing, which occurs when a caller deliberately falsifies the information transmitted to your caller ID display to disguise their identity. Note that caller IDs are not always accurate.

The persons committing this fraud may be seeking personal information such as social security numbers or other personal financial information. Never give out personal information such as account numbers, Social Security numbers, mother's maiden names, passwords or other identifying information in response to unexpected calls or if you are at all suspicious. Often such callers will identify themselves as being with the IRS or Social Security Administration and will accuse people of wrongdoing in order to incite fear and compliance with their scam.

“Phishing” Emails

“Phishing” is when scammers try to trick people into giving them sensitive information through fraudulent means. Here are a few ways to spot a “phishing” attempt:

The message is not sent from the right address: No government agency or large business will contact you from a “Gmail” or “Yahoo” address. Email “from” addresses can be spoofed as well, so that’s not an iron-clad identifier, but a public email domain is usually a giveaway you’re dealing with a scammer.

Misspellings and poor grammar: While everyone makes occasional spelling and grammar mistakes, scam emails are notorious for such errors. If you get an email with poor spelling and grammar, don’t respond.

The email contains suspicious requests: Email is not considered a secure means of communication for sensitive information. Farm Credit East will never ask you to reveal information such as social security numbers, account numbers, or passwords in an unsecured email. We have a secure messaging service for all transmission of personal information. To login to your account or enroll, visit FarmCreditEast.com/login.

It includes suspicious attachments or links: This is a great way for hackers to get viruses onto your computer. If you get an attachment you’re not confident is genuine, don’t open it. Call the sender to verify.

The message creates a false sense of urgency: Scammers will often try to instill a sense of fear or urgency by pretending to be from an official agency or suggesting that something needs to be done immediately. Be wary of such requests.

If you get a suspicious inquiry by phone or email from someone who says they are associated with Farm Credit East, protect yourself by remembering these tips. Don’t respond or click on anything within a suspicious email and hang up if you suspect a caller is fraudulent. Call your local branch office; Farm Credit East will always verify your identity using specific, pre-set security questions before engaging in a discussion about your account.

Editor: Chris Laughton 
Contributors: Tom Cosgrove, Heather Hunt, Dallas Kriebel, Chris Laughton and Scott Rackliffe

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Farm Credit East Disclaimer: The information provided in this communication/newsletter is not intended to be investment, tax, or legal advice and should not be relied upon by recipients for such purposes. Farm Credit East does not make any representation or warranty regarding the content, and disclaims any responsibility for the information, materials, third-party opinions, and data included in this report. In no event will Farm Credit East be liable for any decision made or actions taken by any person or persons relying on the information contained in this report.