Know how to avoid the No. 1 scam in America

As powerful technology becomes openly available to the public, fraudsters continuously fight to gain access to your personal information. This is why Arsenal employs various defense systems on all of our members’ accounts, such as password verification, data encryption and suspicious activity detection. But sometimes, the best security for your finances comes directly from you.

According to a study conducted by Pindrop Security, the most common money scam in America still occurs over an old-fashioned conversation. In fact, one out of every 2,200 phone calls is initiated with malicious intent. The good news is that you don’t have to be a victim.

If you believe you are the recipient of a nefarious phone call, simply utilize these simple tips to keep you and your personal information safe from thieves:

  1. Take your time: Control the pace of the conversation by slowing down; consider your responses and study where and how the instigator is steering your thoughts.
  2. Ask questions: Don’t be afraid to ask questions. A legitimate agency should be more than happy to address your concerns. Be aware of the caller’s growing frustration as you divert his or her intentions.
  3. Verify the answers: Politely ask for the representative’s name, title and company. Explain to the caller that you will need to consider what he or she has said to you, and hang up. Then search online for the data you gathered to see if the caller is representing an actual organization.
  4. Don’t pay: There is never a legitimate situation within which you will be required to give your Social Security number or payment information to an unsolicited caller. If you are asked to do so, please ensure you have verified the company and individual are authentic (via step3) before continuing.
  5. Don’t engage: If you sincerely believe the person you are speaking with is a scammer, the best policy is to end the conversation, hang up and report the incident to the Federal Communications Commission by typing consumercomplaints.fcc.gov into your search browser.