Keep These 5 Fraud Prevention Tips in Your Back Pocket to Protect Your Money

Table of Contents

1. Don’t Fall for Romance Scams
2. Watch Out for Money-Flipping Scams
3. Be Smart with Digital Banking Access
4. Stay Alert to Employment and Work-From-Home Scams
5. Be Cautious of Investment Fraud and Cryptocurrency Scams

Now that you are always inputting your personal information in digital spaces, fraud is more sophisticated and more common than ever. From phishing emails to scam calls, fraudsters are constantly finding new ways to exploit unsuspecting individuals. At Addition Financial, we take fraud prevention seriously and want to make sure you’re equipped with the knowledge to recognize and prevent fraudulent activity before it happens. 

From fraudulent transactions and other suspicious activity to phishing emails and identity theft, we are always looking for ways to enhance our services to help protect your money. Here are five essential fraud prevention tips to help you reduce your risk and keep your finances secure.

1. Don’t Fall for Romance Scams

Romance scams are on the rise, especially on dating apps and social media platforms. These scams often begin with a friendly message or a flattering comment and can evolve into emotional manipulation and financial loss. Scammers build trust over time using fake profiles, stolen photos, and carefully crafted stories, all with the goal of getting you to send money.

These deceptive schemes don’t just hurt emotionally; they can lead to significant financial exploitation.

Here’s how to stay safe from romance scams:

• Never send money to someone you haven’t met in person, no matter how convincing or urgent their story sounds.
• Be wary of fast-moving relationships. Scammers often try to accelerate emotional connections to lower your defenses.
• Don’t share personal or financial information with anyone you've only met online.
• Use reverse image searches on profile photos to check for duplicates or stolen images.
• Watch for red flags like stories about emergencies, illnesses, or travel issues that suddenly require money.
• Talk to a trusted friend or family member before getting deeply involved—outside perspectives can help you spot warning signs.
• Report suspicious behavior to the platform where you met the person.
• Limit what you share publicly online, as scammers often use social media posts to craft believable lies.

Red flag: Requests for money tied to “emergencies,” travel, or investment opportunities should immediately raise suspicion.

2. Watch Out for Money-Flipping Scams

If something sounds too good to be true, it probably is. Money-flipping scams, where fraudsters promise to multiply your money quickly, are a common form of financial exploitation. These scams often start on social media and target users with fake testimonials and flashy success stories.

To avoid falling victim:

• Don’t trust anyone who guarantees high returns with little to no risk.
• Never send money to strangers, especially if they ask for payment via crypto, wire transfer, or gift cards.
• Report suspicious social media accounts to the platform.

Tip: Legitimate financial institutions don’t offer quick-cash schemes or investment opportunities that require you to send money first.

3. Be Smart with Digital Banking Access

Fraudsters are constantly looking for ways to access your accounts through phishing messages or fake login pages. Securing your digital banking credentials is one of the most effective fraud prevention measures you can take.

Best practices include:

• Use strong, unique passwords and enable multi-factor authentication on your accounts.
• Avoid logging into digital banking on public Wi-Fi networks.
• Monitor your accounts regularly and report any unfamiliar transactions right away.

Remember: Addition Financial will never call, text, or email asking for your login credentials, debit card number, PIN, or CVV code.

4. Stay Alert to Employment and Work-From-Home Scams

With the rise in remote job opportunities, employment scams have also become more common. Fraudsters often use fake work-from-home (WFH) offers to steal money or personal information from unsuspecting job seekers. These scams can look legitimate, but recognizing the warning signs can help you stay protected.

Here’s how to spot a job scam:

• Job offers from companies or individuals you didn’t apply to
• Promises of high pay for simple tasks
• Requests for money upfront for training, software, or equipment
• Receiving a check that’s larger than expected, followed by a request to send back the difference
• Pressure to act quickly without speaking to a real person
• Emails from unknown or generic senders with unexpected job offers
• A supposed employer located far away or unwilling to provide company details
  
  

To stay safe during your job search:

• Use trusted job search websites and apply directly through official company channels
• Research any opportunity or employer before sharing information or moving forward
• Be aware of job types commonly used in scams, like mystery shopping or package reshipping
• Never share sensitive personal or financial information with anyone you haven’t verified
  
  

Bottom line: If a job offer seems too good to be true or makes you feel rushed, it’s worth taking a step back. A legitimate employer will never ask you to pay to get hired.

5. Be Cautious of Investment Fraud and Cryptocurrency Scams

As digital investments grow in popularity, so does the risk of investment fraud, especially schemes involving cryptocurrency. One increasingly common scam is known as Pig Butchering, where fraudsters build trust over time before convincing victims to invest large sums of money into fake or manipulated investment platforms.

These scams often begin on social media or dating apps, with someone who seems friendly, helpful, and financially successful. Over time, they’ll introduce the idea of a “guaranteed” investment opportunity, usually in crypto, and pressure you to participate.

Protect yourself by keeping these tips in mind:

• Be skeptical of unsolicited financial advice from people you meet online.
• Watch for red flags like romantic partners or “friends” who avoid meeting in person or refuse to video chat.
• Never share personal or financial details like your credit card number with individuals you haven’t met face-to-face and verified.
• Be wary of investment opportunities that promise high returns with little to no risk, they're almost always scams.
  
  

If something feels off or you’ve already shared information, contact local law enforcement immediately. Acting quickly can help minimize financial damage and may prevent others from falling victim.

Reminder: Legitimate investment opportunities never require secrecy, urgency, or untraceable payments.

Final Thoughts: Stay Informed and Stay Safe

Fraud prevention starts with awareness. Whether it’s avoiding scams, protecting your digital accounts, or knowing the red flags, every step you take helps reduce your fraud risk and your financial institution should be helping with more than just basic banking.

At Addition Financial, your security is our priority. We’re here to support you with tools, resources, and fraud detection strategies to help you stay one step ahead of fraudsters.

Want to learn more? Visit our Security Center for up-to-date fraud alerts, educational content, and more tips to protect your money.