Fraud Prevention Tips for Ohio, Kentucky & Indiana Members

Americans Lost $12.5 Billion to Scams in 2024 – Here’s How to Stay Protected

Scams are on the rise nationwide, and they’re impacting families right here in Greater Cincinnati, Northern Kentucky, and Southeast Indiana. According to the Federal Trade Commission, U.S. consumers reported more than $12.5 billion in losses to scams in 2024, a 25% jump from the previous year.

At COPFCU, protecting our members across Southwest Ohio, Northern Kentucky, and Southeast Indiana is always a top priority. Scammers are constantly finding new ways to steal money and personal information, but with the right knowledge and awareness, you can stay one step ahead.

Below, we’ve outlined some of the most common scams affecting our local communities — along with practical tips to help safeguard you and your loved ones.

1. Imposter Scam

One of the most common scams involves fraudsters posing as someone you know or trust — a friend, family member, government agency, or even a financial institution. The goal is simple: to pressure you into handing over money or sensitive information.

For example, many Ohio residents recently reported receiving fake text messages from the Ohio Turnpike, demanding payment for an “unpaid toll.” These texts included convincing links, and some victims even paid, fearing penalties or legal action.

How to protect yourself:

Don’t trust unexpected messages demanding money or information.
Contact the organization directly using a verified phone number or website.
Report suspicious activity to the Federal Trade Commission and delete the message.

2. Investment Scams

Investment fraud is one of the fastest-growing categories of scams, costing Americans more than $5.7 billion in 2024 alone. These schemes often promise unusually high returns with little to no risk, paired with high-pressure tactics urging you to “act now.”

How to protect yourself:

Be skeptical of offers that sound too good to be true.
Take time to research and consult a trusted financial advisor before investing.
Never move money or share account details with someone you haven’t met in person.

3. Lottery & Sweepstakes Scams

“Congratulations, you’ve won!” These scams usually claim you’ve won a lottery or sweepstakes you never entered. Victims are asked to provide banking information so the “winnings” can be deposited, but instead, scammers use the details to steal funds or commit identity theft.

How to protect yourself:

Remember: you can’t win a contest you didn’t enter.
Never provide personal or banking details to unsolicited callers.
If someone asks for money upfront to claim winnings, it’s a scam.

4. Romance (Sweetheart) Scams

Romance scams are increasingly common across Ohio, Kentucky, and Indiana. Fraudsters create fake online dating or social media profiles to build trust, then invent emergencies or travel needs to convince victims to send money.

How to protect yourself:

Be cautious of anyone who avoids meeting in person or refuses video calls.
Don’t send money or gifts to someone you’ve only met online.
Talk with a trusted family member or friend before making financial decisions tied to new online relationships.

What to Do if You’ve Been Scammed

If you suspect you’ve fallen victim to a scam, act quickly:

Contact COPFCU immediately. We’ll help secure your accounts and guide you on next steps.
If you sent money through another bank or payment service, contact them right away to request a stop or reversal.
If your Social Security number or other sensitive information was shared, place a fraud alert with one of the three major credit bureaus (Experian, TransUnion, Equifax).
Consider filing a report with your local police department to document the fraud.

Protecting Members Across Greater Cincinnati, Northern Kentucky & Southeast Indiana

Fraud can happen to anyone — but being informed is your best defense. At COPFCU, we’re committed to protecting our members and communities throughout the Greater Cincinnati region, including Northern Kentucky and Southeast Indiana.

For more information on how to protect yourself from scams, please visit our fraud resources pa ge.

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