Alameda County Teens Targeted for Money Scams

Money scammers are increasingly targeting Alameda County teens under the ruse of a romantic interest or make-money-quick scheme. 1st United Credit Union has witnessed this recent wave of money scams and cautions families to be aware and take steps to protect their teens.

“We’ve seen these scams in the past targeting adults but have noticed an uptick recently targeting high school-aged youth,” stated Greg Pulliam, Chief Administrative Officer at 1st United Credit Union. “We are concerned about the welfare of our members and community and want to be sure families are aware of how their teens are being contacted."

Criminals are connecting with teens through social media, romance websites or by text and offering the potential for the teen to make or receive money. The teen is given a check or photo of a check to deposit into their account and are instructed to keep a portion of the money and send the rest back by Venmo, pop money, or by mailing gift cards. In some cases, the teen is coaxed into providing their mobile banking login information and the fraudster deposits the check themselves. Eventually, the check comes back as counterfeit and the victim is left owing the bank money.

“These scams are occurring in our own backyard and we have learned that teens are sharing text numbers and websites amongst each other as a way to make money. Since teens are sharing information with their friends, the scams spread at an incredible pace,” continued Mr. Pulliam. “We encourage families to speak with their teens about these schemes.”

1st United offers these points when talking with your teen:

• Risks of meeting online. Make sure your teens know the risks of meeting people online and accepting money or checks from strangers.
• Never deposit checks from strangers. It’s safer to accept cash, a cashier’s check, or PayPal if someone needs to pay you money. It takes several days for a check to fully clear, even if the funds are not on hold, and the account owner is responsible for any funds withdrawn against it
• Never provide personal information. Account numbers, Social Security numbers, bank login information, passwords, or even cell phone numbers can give fraudsters surreptitious access to your money.
• Trust your instincts. If the offer is too good to be true, it probably is.

Consumers who think they’ve been a victim of fraud, should call their financial institution immediately to get help protecting their bank accounts. They should also file a complaint with the Federal Trade Commission and contact their local police department.

About 1st United Credit Union
It doesn’t get simpler, faster and friendlier than 1st United Credit Union. As one of the first credit unions in California, 1st United Credit Union was founded in 1932 and has been thriving in the San Francisco East Bay Area ever since. Membership is available to anyone who lives, works, or attends school in Alameda, Contra Costa, San Joaquin, Solano, Stanislaus, or Kings Counties in California. We believe in local, neighborly banking and hope you will too. For more information, visit 1stunitedcu.org.