2021 has been a tough one on all of us. The pandemic has inflicted loss, uncertainty and grief on our community, and all the while, scammers haven't let up. They’re a scourge that just won’t go away. Phone scammers have honed their craft, taking advantage of the anxieties of the times to swindle victims out of billions of dollars.
In fact, 1 in 3 Americans reported falling victim to a phone scam in the first year of the pandemic, handing over an average of $502 each time to criminals— a total of $29.8 billion—according to a study by software company Truecaller. Some folks were defrauded more than once. The Insurance Information Institute reported that identity theft and fraud reports were up 45% from 2020.
We’ve seen it firsthand at WCEC. Our members have reported a rise in attempted phone scams by people claiming to represent the co-op. The fraudulent callers threaten to disconnect the power unless the victim makes an immediate payment. Please know that WCEC will never call to demand instant payment, and we would never threaten to disconnect your power over the phone.
Another type of scam is the over-payment trick, where the scammer claims that you have overpaid your utility bill. The scammer will request your personal banking information to deposit the credit back into your checking account. Don’t fall for this scam! If you make an over-payment on your bill, WCEC will automatically apply the credit to your account, which will carry over to your next billing cycle.
Scammers prey on those most vulnerable in our community by exploiting their fears. Utility scammers try to create a sense of urgency so you’ll act fast and hand over personal information or money without thinking. Always take a moment to evaluate the situation before acting.
A critical finding of the Truecaller study was that phone scam victims aren’t who you might expect. The majority are between the ages of 18 and 44. We don’t want any of our members to fall victim to this practice, especially during the holiday season. If you receive a suspicious call or text message from someone claiming to represent the co-op, put down the phone and call WCEC directly at 903-763-2203.
Following these simple tips will keep your holidays Merry & Bright!