Fear and Urgency Scams

Have you ever felt your heart race and your mind go blank when faced with a crisis? Unfortunately, scammers know how to exploit these feelings to trick people into making decisions they wouldn't normally make, and it can lead to financial losses as a result. 

We’ve covered impersonation scams, where scammers call claiming to be a trustworthy source like an employee from UW Credit Union to gain access to your accounts. This article breaks down urgency scams - when scammers create a sense of urgency to manipulate you into withdrawing money from your accounts and handing it over to them.  

Understanding Urgency Scams 

Urgency scams attempt to trigger your stress response. Scammers often pretend to be someone with authority, like a company representative or even a family member. They’ll claim there’s an emergency that requires immediate action, hoping you feel pressured into acting quickly.  

Examples of Urgency Scams 

• A call from a local number. When you look up the number, it shows up as the “Sheriff’s Office.”
  • The sample dialogue: “You missed jury duty and if you don’t pay the fine today, I’ll have to send an officer to your workplace to arrest you.”  
• An email claiming to be from “PayPal” references a pending charge that you don’t recognize. You call the number on the invoice to dispute the charge.  
  • The sample dialogue: “What did you do? I was helping you with a return of $200 and you entered $20,000 in the system! Now that money is in your account, and it shouldn’t be! You stole $20,000 from PayPal!” 
• A distressed call from a "family member" asking for urgent help. 
  • The sample dialogue: “Grandma? Help me, I only have a minute to talk. I was arrested in Mexico and I'm in jail - I can't call mom or dad; they'll be so mad at me. You can't tell anyone. Please help me, I'm so scared. I'm going to put my lawyer on the phone, they'll tell you what to do.” 

In all these cases, the scammer's goal is to make you act before you can think things through. 

How Scammers Will Try to “Seal the Deal”

If the scammers detect they have your stress response heightened, they'll attempt to build the narrative of immediate danger to get you to act. 

They may transfer you to people who claim to have even more authority or importance, like security teams for the business, loss prevention teams for your own financial or even law enforcement. They often use spoofing technology to make it appear that calls are coming from official sources, too. 

If any of these things happen, step back because it’s most likely a scam: 

• Unusual requests for large cash withdrawals 
• Being asked to keep the transaction secret 
• Feeling pressured to act quickly 

The scammers will make you feel like terrible things will happen if the issue isn't fixed immediately. They may even convince you not to trust anyone else, even the employees at your financial institution, and may give you a lie to tell the branch when you go to make a large cash withdrawal.  

How to Protect Yourself 

If you ever feel unsure about a request, take a moment to think. Ask questions and verify the information. Remember, it's okay to say no and take the time to confirm the details. 

If you ever have doubts or need assistance, please call us at 800-533-6773. We are here to help! 

This article is provided for informational purposes only. The content is intended to offer general information on the subject matter and should not be considered professional advice, legal counsel, or financial guidance. While UW Credit Union strives to offer accurate and current information, we cannot guarantee the completeness, reliability, or timeliness of the content. Readers are advised to seek professional advice or consultation where appropriate.