Greater Nevada Credit Union Shares Fraud Prevention Tips During National Consumer Protection Week
March 6, 2026 (Reno, Nev.) – In recognition of National Consumer Protection Week, Greater Nevada Credit Union is encouraging members and the community to stay vigilant as fraud schemes grow more sophisticated in 2026. There are emerging fraud trends, and some practical steps Nevadans can take to combat them and help protect their finances.
Across the United States, financial fraud continues to rise at an alarming pace. According to the Federal Trade Commission, consumers reported losing more than $12.5 billion to fraud in 2024, a 25 percent increase from the prior year, with investment scams and impersonation scams accounting for the largest losses. The Federal Trade Commission reports that the true scale of the problem may be far greater because many victims never report their losses.
Certain populations face growing risks as well. Reports of large losses among adults age 60 and older have more than quadrupled since 2020, often tied to impersonation scams where criminals pretend to represent banks, government agencies, or other trusted institutions.
“Fraudsters are constantly adapting and taking advantage of new technology to set traps for consumers,” said Mike Dietrich, Chief Technology Officer at Greater Nevada Credit Union. “The best defense is awareness. When you understand how scams work, you’re way less likely to become a victim.”
Fraud Trends to Watch in 2026
Recent industry reporting shows several key patterns emerging:
- Authorized Push Payment (APP) Scams
Scammers pretend to be someone you trust, such as friends, businesses, or even financial institutions, and convince victims to willingly send money. Because the victim approves the payment, recovering funds can be difficult. - Emotional Manipulation (Social Engineering) Tactics
Fraudsters increasingly use urgency, fear, and impersonation to make people act quickly – before they can think. This can include fake fraud alerts, government impersonation, family members in distress, romance scams, or tech support schemes. - Email and Account Takeover Attempts
Compromised email accounts are often used to reset passwords or intercept financial communications, giving criminals access to sensitive information. - Exploitation of Faster Payment Methods
As payment technology moves money more quickly with tools like Zelle, Venmo, and PayPal, scammers rely on speed to prevent victims from stopping transactions in time. - Organized Fraud
Fraud is becoming more coordinated, with criminal groups sharing data and tactics.
How Consumers Can Protect Themselves
Greater Nevada Credit Union works closely with members who experience fraud attempts and provides guidance and support when suspicious activity occurs. While financial institutions deploy advanced monitoring tools to detect and prevent fraud, education remains one of the most powerful defenses. GNCU encourages consumers to be the first line of defense by following these practical tips.
- Pause before sending money. Verify unexpected payment requests directly using a trusted phone number, not one provided in a suspicious message.
- Be cautious of urgency. Pressure to act immediately is a common red flag.
- It is important to note that bad actors frequently impersonate family members in distress, and AI has made these fakes harder to identify. One tactic is to give a safe word to children and family members, e.g., if you are calling in distress, say “pineapple.”
- Enable multi-factor authentication on financial and email accounts.
- Monitor accounts regularly and report suspicious activity immediately.
- Never share one-time passcodes or secure login credentials with anyone.
- Create trusted verification methods, especially for older adults and other vulnerable individuals, who should consider identifying a trusted friend or family member. They can contact them to help confirm suspicious requests and avoid scams.
“We will never ask for your password, PIN, or one-time verification code,” Dietrich added. “If something feels off, it probably is. Call your credit union or bank directly so we can help.”
For more fraud prevention resources, visit GNCU.org/Fraud
