Unfortunately, scammers know this, and they’re taking advantage.

At SRI Federal Credit Union, we want to help you understand how these scams work and what you can do to protect yourself.

What Is P2P Fraud?

P2P fraud happens when someone tricks you into sending them money directly. Because these payments are quick and usually final, it can be hard to get funds back once they’re sent.

Common P2P scams include:

• Someone pretending to be a friend or family member asking for money urgently

• Fake sellers or rentals that disappear after payment

• “Accidental payment” scams, where someone asks you to send money back

• Fake tech or banking support asking you to “verify” your account with a payment

If the request feels rushed or unusual, that’s a big red flag.

What Is A2A Fraud?

A2A fraud involves unauthorized transfers between bank accounts. These scams often start with stolen login information or convincing messages that look legitimate.

Common A2A scams include:

• Phishing emails or texts that steal your online banking login

• Fake invoices or payment requests

• Scammers posing as employers, vendors, or financial institutions

• Account takeovers after credentials are compromised

Why Scammers Are Successful

Most scams rely on pressure and emotion. Fraudsters often:

• Create urgency (“Act now!”)

• Pretend to be someone you trust

• Use fear or authority to rush you into action

Taking a moment to pause and double-check can stop a scam in its tracks.

How You Can Protect Yourself

Quick safety tips:

• Only send money to people you know and trust

• Never share passwords or one-time passcodes

• Be cautious with urgent payment requests

• Double-check unexpected messages, even if they look familiar

• Review your account activity regularly

Think You’ve Been Targeted?

Act fast:

1. Contact SRI Federal Credit Union right away

2. Stop any pending transactions if possible

3. Change your passwords

4. Report the scam so we can help protect others

We’ve Got Your Back

Scammers are always changing tactics, but staying informed makes a big difference. If something feels off, trust your instincts and reach out. We’re here to help keep your money safe.

This law, championed by Bill Dodd, is designed to help prevent elder financial abuse by creating an extra layer of security and support.

What Is SB 278?

SB 278 requires financial institutions to maintain an Emergency Financial Contact Program for members ages 65 and older. This allows members to name a trusted contact who we can notify if suspected abuse or unusual activity occurs during employee-assisted transactions.

At SRI Federal Credit Union, we are adopting these protections early to help keep our senior members safer, sooner.

How Our Early Program Works

To make enrollment easy, we will include a Trusted Contact Authorization Form inside the 2025 year-end account statements.

With this form, members can:

• Designate a trusted contact person (such as a family member or close friend)
• Help us provide added layers of protection against fraud and scams

If you would like to complete the form before receiving your year-end statement, simply contact us, and we will be happy to send it to you.

Key Protections You Can Expect

As part of this program, we may:

• Place temporary three-business-day holds on suspicious, staff-assisted transactions over $5,000
• Notify the trusted contact when potential fraud is detected
• Add a protective review period before large sums leave your account

These protections mainly apply to employee-assisted transactions, such as teller withdrawals and in-branch transfers.

What This Means for Seniors

If you are 65 or older, you may notice:

• Additional questions from staff when a large withdrawal appears unusual
• Possible short delays to help protect your funds
• Supportive outreach designed to keep you safe

These safeguards are designed to protect you, not to slow down legitimate access to your funds.

Our Commitment to You

At SRI Federal Credit Union, your safety comes first. Implementing these protections early reflects our commitment to helping prevent fraud and protect the financial well-being of our members.

If you have questions or would like a Trusted Contact Authorization Form sent to you before your statement arrives, please contact us.

Why Amazon Is Sounding the Alarm

In a November 24 email sent to users, Amazon warned that scammers are increasingly impersonating the company to steal sensitive personal and financial information. These attacks aren’t new, but they’re evolving fast, especially with artificial intelligence making fake messages, spoofed websites, and fraudulent alerts look more realistic.

According to Amazon, attackers are reaching out using:

• Fake delivery or “account issue” notifications
• Social media ads for unreal “too-good-to-be-true” deals
• Messages from unofficial channels asking for login or payment info
• Suspicious or unfamiliar links
• Unsolicited tech support phone calls

Amazon stresses that customers should treat any unexpected message requesting credentials or payment information with extreme caution.

New Report Confirms Rising Holiday-Themed Scams

A fresh FortiGuard Labs report backs up Amazon’s warning. The findings reveal:

• 18,000+ holiday-themed domains registered in the last three months
• 750 confirmed malicious
• 19,000+ domains impersonating major brands, including Amazon
• 2,900 malicious brand lookalike domains

Cybercriminals are crafting domains with slight variations, easy to miss during the rush of holiday shopping. Experts warn that AI is accelerating the sophistication of these scams, making fake order confirmations, spoofed retailer websites, and forged customer service interactions more convincing than ever.

The FBI Confirms Massive Financial Damage

In a new public service announcement on November 25, the FBI warned that brand impersonation attacks are fueling a surge in account takeovers. Since January 2025, thousands of victims have reported losses totaling more than $262 million.

These scams often involve:

• Phone, text, email, or instant message contact from someone pretending to be customer support
• Claims of “fraudulent activity”
• A link to a realistic but fake website
• Victims entering their login, MFA code, or one-time passcode
• The attacker using those credentials to reset the password and take over the account entirely

Although the FBI’s alert focuses on financial institutions, the tactics apply to all major brands, including Amazon.

How Amazon Says You Can Protect Yourself

Amazon is urging customers to take the following steps to protect their accounts year-round:

1. Use Only Official Amazon Channels

Rely exclusively on the Amazon app or amazon.com for customer service, order tracking, refunds, and account updates.

2. Enable Two-Factor Authentication (2FA)

2FA adds a crucial layer of protection against unauthorized access.

3. Use Passkeys

Passkeys let you sign in using biometrics (face, fingerprint) or your device PIN, a safer alternative to passwords.

4. Remember What Amazon Will Never Do

Amazon will never:

• Ask for payment over the phone
• Request payment information via email
• Ask you to verify account credentials through links or messages

If you receive messages asking for any of those, assume it’s fraudulent.

Stay Vigilant This Holiday Season

With AI-powered scams accelerating and brand impersonation attacks spiking, Amazon’s warning is timely and necessary. Whether you’re shopping for holiday deals or simply checking order updates, a moment of caution could save you from a costly scam.

Stay safe and always confirm before you click.

At SRI Federal Credit Union, protecting our members from fraud is a top priority. Here’s what you need to know about these scams and how to stay safe.

How the Scam Works

• Fraudsters often pose as trusted authorities, such as law enforcement, government agencies, or even your utility company. The scam usually follows a similar pattern:
• You receive a call, text, or email claiming you owe money, have a fine, or need to make an urgent payment.
• The scammer pressures you to withdraw cash immediately and deposit it into a Bitcoin ATM.
• They provide a QR code or Bitcoin wallet address, instructing you to scan or enter it at the ATM to “make the payment.”
• Once you send the money, it’s converted to cryptocurrency and transferred instantly, making it nearly impossible to recover.
• Some scammers even pretend to be a friend or family member in distress, claiming they need your help right away.

Common Red Flags

Be alert for these warning signs:

• You’re told to make an urgent payment to avoid arrest, disconnection, or other consequences.
• The caller asks you to use a Bitcoin ATM, gift cards, or wire transfer.
• You’re given a QR code or wallet address to “pay” someone.
• You’re pressured to keep the transaction secret or told not to talk to your financial institution.
• If any of these happen, stop immediately and contact SRI Federal Credit Union before sending money.

How to Protect Yourself

• Never send money via Bitcoin ATMs to someone you don’t personally know.
• Verify requests by contacting the organization directly using an official phone number or website.
• Don’t trust caller ID; scammers can spoof real numbers.
• Report suspicious calls or messages to the FTC (ftc.gov) or your local police department.
• Educate family and friends, especially older adults, who are often targeted.

We’re Here to Help

If you ever feel uncertain about a payment request or believe you’ve been targeted by a scam, contact SRI Federal Credit Union right away. Our team can help you verify the situation and take steps to protect your accounts.

Fraudsters are getting more creative, but together, we can stay one step ahead.

Stay informed. Stay cautious. Stay protected.
At SRI Federal Credit Union, your safety and peace of mind always come first.