Tips To Help Avoid HOA Fraud

Unfortunately, fraud is a reality – and many communities and homeowners associations (HOAs) experience scam attempts firsthand. The good news is that by learning more about common fraud tactics and steps you can take to avoid them and staying vigilant, we can better protect ourselves and our communities.

Key Steps To Avoid Phishing, EAC and BEC Scams

Here are eight steps that can play an important role in keeping your associations safe.

1. Install anti-virus protection.
2. Create – and use – secure passwords.
3. Limit access to sensitive data.
4. Sign up for fraudulent activity alert notifications.
5. Enable two-factor authentication.
6. Use a secured network.
7. Pay close attention to website URLs to avoid suspicious sites.
8. Avoid unknown links or requests sent via email or text.

Protecting Electronic Transfers

While transferring funds electronically can streamline transactions, fraudsters may attempt to order wire transfers via illegitimate emails, phone calls or texts.

They may even refer to specific individuals or business functions – sometimes sending such emails late in the day, just before a holiday or weekend or when the purported sender is out of the office – to create a sense of urgency.

The best way to keep your electronic transactions safe is to check the authenticity of all requests before performing any wire transfers. And for any wire request, it’s a good idea to trust your instincts; if something doesn’t feel right, the request may not be legitimate.

If you’re looking for more information on current fraud issues, visit the Federal Trade Commission’s website for free online security tips at http://onguardonline.gov.