National Consumer Protection Week Tips & Resources

As we take part in National Consumer Protection Week, we wanted to share some best practices and resources for protecting you and your accounts from digital fraud and scams.

An older woman on her laptopThe pandemic shifted many consumer behaviors and people are now shopping and banking online more than ever. This means fraudsters are targeting peoples’ email, digital wallets and mobile devices through text messages and phone calls at an increased rate. According to the 2021 Identity Fraud Study by Javelin Strategy & Research, American’s lost a total of $56 billion due to falling victims of fraud and identity theft within the year.

Here are the most common red flags to watch for:
  • Unsolicited calls or emails
  • High-pressure tactics
  • Outdated passwords
Now more than ever, consumers need to be vigilant and aware of all the creative tactics and strategies criminals are using to take advantage of unsuspecting victims. To help our customers, we’ve included several links to five credible and useful educational tools.

1. Washington Department of Financial Institutions

The Consumer Protection Resources page has a number of resources for managing credit and debt, staying safe online and avoiding scams.

Consumer Protection Resources

2. Washington Department of Financial Institution

Stay up-to-date with the latest alerts by searching consumer alerts on the Consumer Alerts page.

Consumer Alerts

3. Consumer Protection Washington

Track scams and find a comprehensive guide for consumer complaints at Consumer Protection Washington.

Track Scams

4. American Bankers Association

Tips on the best defensive strategies to protect you from scammers can be found on “Banks Never Ask That”. Take a quiz to see how much you know when it comes to protecting your financial accounts.

Defensive Strategies

5. Olympia Federal Savings

As always, we’re here to help. Each customer has a personal banker that can help explain the best ways of setting passwords, current fraud protection resources and is dedicated to keeping our customers’ accounts safe and secure. For more information or if you have any concerns regarding your accounts with OlyFed, please don’t hesitate to contact us or call (360) 754-3400. We’re here to help you! Below are a few curated resources within our website that can lead your exploration.

Digital Security Resources Security Articles OlyFed Security Statement