False Promises Lead to Fraud

News for Cinfed Members

False Promises Lead to Fraud

Money Trap

Cases of fraud – and fraud attempts – continue to multiply, according to government agencies and consumer watchdog groups. The pandemic has generated an increase in attempts to swindle people using digital accounts, particularly through mobile deposit apps.

In many cases, consumers get fooled by false promises. Scammers make offers that sound too good to be true…and of course, they aren’t. The process typically goes like this:

  • The consumer is contacted by someone they don’t know. Most communication is made through social media by someone the consumer has never met, though the scammer may claim to be a “friend of a friend” or a similar connection.
  • The scammer asks for “help” with a substantial amount of money. The scammer says he has received a large sum of cash as an unexpected bonus, an inheritance, or sometimes simply a “gift,” but needs the consumer’s assistance to obtain it.
  • The scammer wants something in return. In exchange for a share of the money, the scammer wants the consumer to repay him through gift cards, cash, or wire transfer. The scammer may even ask for account numbers or access to the consumer’s online account.
  • The scammer deposits a fake check via mobile deposit. The check immediately appears in the consumer’s account, so the consumer sends the scammer the gift cards or cash.
  • The check is detected as fraudulent, and the consumer loses the money. Financial institutions have review systems in place that detect fraud very quickly; however, the scammer has fooled the consumer into sending money before the fraud alert can be activated. As a result, the consumer has little hope of ever recovering the money that was lost.

The good news is, this type of fraud can be prevented. Education and awareness remain the best ways to defeat scammers. Keep these tips in mind to prevent fraud:

  • Ignore offers for “quick cash” or other unregulated financial situations. If the message seems to be from someone you know, double-check by calling the person or reaching out and confirming their identity via a separate email message.
  • Do not get pressured into acting immediately by a deadline or “limited time offer.” That’s a common practice by scammers – they want consumers to act without thinking things through.
  • Do not share any personal information – social security numbers, birthdates, account numbers, and so on, unless you initiate the contact.
  • As the saying goes, you can’t get “something for nothing” – offers that seem too good to be true are designed to fool you.

Continue to follow established guidelines for preventing fraud and identity theft. A few simple steps can help you from falling victim to the false promises of an experienced scammer.


Cinfed Credit Union
4801 Kennedy Avenue
Cincinnati, OH 45209
(513) 333-3800
Routing #242076656


They always go above and beyond at the Oakley branch and truly care about each of their members. And, I absolutely love their kids' membership program. It makes it fun for them to learn about money... 
— Courtney Snow
Been a member since I moved to the Queen City in 1978. Cinfed has always provided customer service that other financial institutions only dream about. Thank you for almost forty years of outstanding... 
— Tim Grabenstein
I recently became a member here at CINFED and it was the best decision I have ever made. I walked in with tears and despair and left with dry eyes, a smile, and I even received a hug from the branch... 
— Melanie
Earlier this year my much younger sister passed away and with that many obligations were to be met by my husband and myself ..My sister was survived by a daughter and son. We have since then taken on... 
— Vonda
How lucky I am to have Liz Frey managing the office I use! I live in Florida but maintain Cinfed as my main banking office. Everytime I need special help a simple email or call to Liz and it is... 
— Debbie G
Emily Snyder took the best care of my two auto loans. She was professional, courteous and very knowledgeable of the available services for me. She went out of her way to make sure I felt like I was... 
— Sarah Amyotte
I have been member with Cinfed since 1986. The Roselawn Cinfed staff greeted the customer phone calls friendly and polite willing to help you with your needs. They have excellent customer service.... 
— Marian Dudley
I have been a member of CINFED since about 1981 when I was transferred from SLC, Utah with the US Army Recruiting Command and have always received excellent service and support . Hope Dee Dee is... 
— Robert Olguin
I have been a member at the Roselawn Branch for a long time and I couldn't be more satisfied with the customer service. No matter how often I come in with a question or issue and no matter what... 
— Andreya T Williams
I been a member since 1985 and can not imagine banking anywhere else. This credit union as taken care of my every need. 24/7 services is excellent.
— Edward, member since 1985
I have been a Cinfed member for years. I know I can depend on them to provide excellent service. The bill pay on line is great and every time I visit the Florence branch I am met with friendly... 
— Jan Ricks
Closed a loan in 24 hours! Absolutely unheard of! Thanks to the exceptional customer service of LeAnn Rose at the Turfway Branch! She went above and beyond by providing unexpected expedited service! ... 
— Christina Stull
I recently applied for a credit card online. I received a call from Emily Snyder explaining what needs to be done next. It was easy and Emily’s customer service was excellent. Emily is a great... 
— Johnnie Bush
I met Emily Snyder because I had a flat tire in the parking lot of Cinfed Credit Union. I didn’t know what to do and she offered to help me. It was late in the evening and I didn’t think anyone... 
— Cindy Hyatt
Emily Snyder took care of setting up a consolidation loan for me on Saturday. She was very friendly, professional, and explained very articulately all the steps involved. Emily also opened a new... 
— Sally A Arbogast
I recently closed for a car loan and a credit card with Susan Z. Her service was excellent. We closed in a couple of days. She was so helpful with her knowledge. It was a pleasure to deal with her.
— Glenda Adkins
I cannot say enough good things about the service I have always received from Cinfed! Most recently, we refinanced a vehicle and dealt with Emily S.! She was quickly responsive and on top of her... 
— Serena Kain
I can say a million great things about Cinfed Credit Union and how they helped me over the years ,But there are many helpful service members, but one Great lady Is Mrs Susan Z. She is an Awesome... 
I have to say I think the new online banking update is pretty awesome. I love that the app is more up to date, clean and user friendly. Happy to be a customer with Cinfed.
— Kyle Neises
I have member with Cinfed for 24 years. The customer service is beyond great. Everything from daily banking to loan services. I recently purchased my daughter a car and originally it was going to be... 
— Tira Williams

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