3 Simple Ways to Fortify Your Information Online
October is Cyber Security Awareness Month, and it's the perfect time to focus on protecting your online presence. Did you know that weak passwords are the most common way that online criminals gain access to personal accounts? At Kitsap Credit Union, we believe that safeguarding your financial information is paramount, and one of the simplest yet most effective ways to enhance your security is by using strong, unique passwords. In this blog post, we'll explore easy strategies for creating robust [...]
October is Cyber Security Awareness Month
It's clear to see the ways in which technology permeates every aspect of our lives today, and because of that, cybersecurity is more important than ever. As we increasingly rely on digital platforms for everything from banking to shopping, the risks associated with cyber threats continue to grow. In fact, 2023 saw a 72% increase in data breaches since 2021, which held the previous all-time record, according to the ITRC Annual Data Breach Report. Additionally, the same report found that [...]
Understanding Social Engineering Terms and Tactics
It's no secret that fraud scams are on the rise and cyber security is a concern for many now more than ever. In fact, during the second quarter of 2023, the Anti-Phishing Working Group (APWG) observed almost 1.3 million phishing attacks, representing the third-highest quarterly total ever observed by the group. The financial sector remained the primary target, experiencing 23.5% of all phishing attacks, according to the APWG. The best way to avoid falling victim to fraud scams is be [...]
Understanding and Preventing Elder Fraud & Financial Abuse
As our loved one’s age, they become increasingly vulnerable to a variety of scams and financial abuse that specifically target older adults. According to the Federal Bureau of Investigation (FBI) Internet Crime Complaint Center (IC3), scams reported by those over the age of 60 topped $3.4 billion in 2023, marking an almost 11% increase in reported losses from 2022. Older adults are particularly prone to financial fraud for various reasons because they tend to be trusting and polite. They usually [...]
How to Avoid Falling Victim to Fake Fraud Alert Scams
In today’s digital age, scams have become increasingly sophisticated, with fraudsters continually devising new ways to deceive individuals. One prevalent method is the fake fraud alert scam, where scammers pose as legitimate financial institutions or service providers to trick you into revealing personal information. Here are essential tips to help you stay vigilant and protect yourself from falling victim to these cunning schemes. 1. Recognize the Red Flags Understanding the common tactics used in fake fraud alert scams is the [...]
How to Avoid Elder Financial Exploitation
Did you know that individuals over the age of 50 control 70% of the country’s wealth, and seniors between the ages of 65 and 74, with an average net worth of $1.06 million, have more assets than any other age group? Because members of this age group have disposable income lying around, criminals often target them with scams and dementia, disability, and decline can make it even easier for these scammers to successfully steal funds. Elder scams are a problem [...]