OnPoint Credit Union Cybersecurity 2024 E-Book helps you face the latest digital threats

PORTLAND, Ore. (KTVZ) – U.S. consumers lost a staggering $10.3 billion to fraud in 2023, a 14% increase over the previous year’s total, according to the Federal Trade Commission. In 2023, Oregonians lost over $101 million to fraud, an increase of 15.5% over 2022. Washington state residents lost over $253 million, an increase of 12.9% over 2022 r. Imposter-based fraud was the biggest threat in both states last year, according to an FTC report.

OnPoint Community Credit Union has released the 2024 OnPoint Guide to Personal Cybersecurity eBook to help consumers protect themselves in the ever-changing cybercrime landscape. OnPoint updates the free eBook every October, in line with National Cybersecurity Awareness Month, to keep the community informed about the latest threats on the Internet.

“As cybercriminals become more sophisticated, it is important to remain engaged and proactive in maintaining digital security,” said Damian Laviolette, chief information security officer at OnPoint Community Credit Union. “Our goal is to provide members and non-members alike with the tools and knowledge to protect themselves and their loved ones from increasingly sophisticated threats. Being cybersecurity smart is a critical first step towards maintaining cybersecurity in today’s rapidly changing digital landscape.”

Recent trends in online fraud include:

Cybercriminals continue to refine techniques using artificial intelligence and automation. One of the techniques used by cybercriminals is the so-called deepfake phishing, which involves playing the voice of a loved one to add weight to a manipulative communication. Technological improvements have also made it easier to complete credentials. This happens when someone who has stolen login credentials for one site tests the same combination on other sites. Cybercriminals use automation to test multiple websites and credentials simultaneously in hopes of gaining access to one or more accounts containing an individual’s personal or banking information.

The most at-risk population are young people and seniors. Anyone can become a target, but the most vulnerable are adolescents and young adults (aged 13-25) and seniors (aged 60+). Young people, especially children, have a clean credit history that is not always closely monitored, making it valuable to identity thieves. Chat features in online games also provide a platform for cybercriminals to convince young people to reveal personal information, send money or click on malicious links leading to alleged updates or modifications to a popular game.

Cybercriminals target people aged 60 and older because they believe they have significant assets and are less familiar with cybersecurity best practices and online fraud. Tech support fraud, personal data breaches, trust and romance fraud, non-payment or delivery fraud, and investment fraud are the top five types of elder fraud reported in 2023.

Your smart devices have become targets. According to IoT Analytics, there will be approximately 18.8 billion connected devices by the end of 2024, an increase of 13% compared to last year. The growing number of “smart” home appliances, cars and systems create potential access points for cyberattacks that can be easily missed. Cybercriminals may try to access your passwords or bank accounts through information shared with your digital assistant, or penetrate your Wi-Fi network to launch a ransomware attack.

Four top cybersecurity tips:

Always check the sender. Messages from cybercriminals come in the form of e-mails, text messages or phone calls and pretend to be a legitimate company. They want you to provide personal information or click on a link containing hidden malware. Double-check the sender’s address and domain name and never rely on a display name. You can hover over a link to see if the URL looks legit or has tricks like a zero instead of an “o” or an “s” added to the end of a word. Beware of unsolicited offers and notifications, or messages full of grammatical errors and typos. Never trust a password request – a legitimate source won’t need your password, PIN or card number.

Beware of quick money, windfall profits, and too-good-to-be-true offers. Cybercriminals often send messages promising unexpected money in exchange for a fee or tax. You should always be suspicious if an individual, bank or company contacts you offering any sum of money. Don’t send money or attempt to deposit unverified funds – especially if you’ve never met the sender. The check may be fake and the cash transfer from the app may be fake. If funds are removed from your account, you will lose part of the deposit you have withdrawn or spent. Search for the person or organization online and if in doubt, seek advice from your financial institution.

Talk to your children and older family members about cybersecurity. Your children and older family members should be aware of the dangers they may encounter online. Play an active role in your children’s online interactions and set up child protection on their devices to limit their access, block offensive content and reduce screen time. Help older family members by educating them about common scams, monitoring their financial accounts for fraud, and blocking spam calls on their devices.

Protect your devices. Change your router name and password from the default settings, use a guest network for smart devices, and add multi-factor authentication (MFA) requirements to access administrative controls on your core network. Use strong passwords – or phrases – that contain spaces between words and symbols and numbers in place of some letters.

As online fraud continues to evolve, staying informed and vigilant is more important than ever. You can protect yourself and your family by downloading the OnPoint Guide to Cybersecurity eBook or by consulting with a member of staff at your nearest OnPoint location.

ABOUT ONPOINT COMMUNITY CREDIT UNION

OnPoint Community Credit Union is Oregon’s largest credit union, with more than 576,000 members and $9.4 billion in assets. Founded in 1932, membership in OnPoint Community Credit Union is available to anyone who lives or works in one of Oregon’s 28 counties (Benton, Clackamas, Clatsop, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Gilliam, Hood River, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Morrow, Multnomah, Polk, Sherman, Tillamook, Wasco, Washington, Wheeler and Yamhill) and two Washington counties (Skamania and Clark) and their immediate family members. OnPoint Community Credit Union is federally insured by the National Credit Union Administration (NCUA). For more information, visit www.onpointcu.com or call 503-228-7077 or 800-527-3932.