Lottery Scams

Authored By: Rose Samuel on 6/15/2021


YOU WON $500,000!
Now pay $2,000.00 to claim your prize.

Did that first line get your attention? We would all love to win a large cash prize; unfortunately, scammers can take advantage of that excitement. Scammers will often make contact claiming you have won a grand prize, but say to get the prize you need to pay a processing fee. This is an example of Advance-Fee Fraud.

Keep an eye out for these Lottery Scam Red Flags: 

You Did Not Play the Lottery
You do not recall participating in the sweepstakes but somehow have the winning ticket.

Processing Fee
Sweepstakes are a free game of chance. Do not send any processing, shipping, or taxes upfront.

Foreign Lottery
It is illegal to participate in a foreign lottery.

Request to Verify Personal Info
Never share your personal identifying info or bank account info to claim a prize.

Increment Payments in the Mail
You receive your winnings in increments through the mail. Check the enclosed mailing for spelling and punctuation errors. Always inform your financial institution of how you received the check before attempting to deposit or cash. They will likely call to verify funds in order to protect you.

It is important to be on the lookout for scams like this. You can never be too safe when it comes to protecting yourself and your money. To report a scam, please visit the Federal Trade Commission Complaint Assistant to submit a complaint for further investigation. We also ask that you let us at MFCU know so we can help monitor your account activity and alert you of something out of the norm. 


« Return to "MFCU Blog"
No comments have been posted yet.
Post Comment

(Only last initial will display on comment)

(Not displayed on Comment)

Security Code:
What's this?
Go to main navigation