Purdue Federal Credit Union highlights tools to combat rising financial fraud

Fraud Prevention Month reminds residents to strengthen their financial defenses against sophisticated threats. While security technology improves and threats evolve, Purdue Federal Credit Union encourages members to take a lead in community safety by staying informed and sharing preventative strategies with others to create a more resilient and protected Region throughout the year.

“The challenge is not necessarily keeping people safe, but rather keeping them safe while minimizing the friction they have in logging in, doing transactions or in their general interactions with Purdue Federal,” said Fraud Prevention Manager Brian T. Brown. “The best security with the least friction is always at the forefront of our thought processes.”

Purdue Federal is taking a proactive role in this month’s awareness efforts by highlighting the psychological tactics behind modern social engineering. These methods often catch members off guard and leave little time to think critically before reacting. This focus on education and transparency allows the credit union to better protect local communities and disrupt professional fraud operations.

“I don’t think it is super technology-based sophistication from the contact point,” Brown said. “Scammers will send text links to make it feel like a credit card or your bank account has been compromised, and the goal is to get in contact with a member. Typically, the fraudsters work to instill fear and a sense of urgency in members to make them want to fix the issue.”

These messages are often disguised as urgent account warnings and bait people into a phone call where scammers pose as representatives of financial institutions or government agencies. Purdue Federal also warns against jury duty scams, where a caller claims an arrest warrant exists because a member failed to show up for court. In these scenarios, scammers pressure victims to pay fake fines through cryptocurrency, gift cards or cash handoffs. These tactics often involve fabricated threats regarding taxes or narcotics to ensure the member remains too frightened to consult friends or family.

“I honestly believe that these are professional hubs where these are actually people’s jobs,” Brown said. “They use a database to keep information so they can keep going back and getting money from people. We use the best, up-to-date methods to identify individuals so these systems can’t be circumvented.”

Beyond these emotional appeals, technology is also playing a larger role through generative AI and voice spoofing. Fraudsters can record a brief snippet of a person’s voice during a standard phone call and use software to mimic that voice later. This allows them to call contact centers and attempt to bypass voice recognition security. Purdue Federal combats these threats by implementing AI-driven software designed to identify fraudulent speech patterns and automated phishing.

“The voiceovers are probably the most common,” Brown said. “We’ve run tests using generative AI to replicate the voices of people employed here, and it surprisingly works very well.”

Modern fraud affects demographics in unique ways. Older generations typically trust personal interactions, making them prime targets for social engineering. Younger generations are frequently targeted due to their constant digital engagement and lack of experience with complex scams. Purdue Federal addresses these age-related risks through direct communication and local branch support. The credit union also hosts community training sessions to encourage skepticism and digital safety.

“Fraud happens to everybody, but those most often affected range from younger individuals to older generations because of that trust and fear factor,” Brown said.

Purdue Federal encourages members to adopt simple preventative measures to ensure their financial safety, such as checking their account activity daily. Beyond personal habits, the community is encouraged to collaborate with local financial institutions by attending safety seminars and training sessions. Residents and members can ensure that their information stays protected by staying informed and maintaining a healthy skepticism toward any unsolicited contact.

“The best thing you can do is connect with your local financial institution and get the information out,” Brown said. “When you start collaborating with your local financial institution, whether it’s a training session or a seminar, they are able to talk to you about fraud. Your local police departments are also great for talking about certain situations.”

For more information about how to protect your financial well-being and staying ahead of modern scams, visit purduefed.com/fraud.