Is "ACH Debit - Oportun Savings 9100001" fraud?

Written by Jemina Owen-Jones

May 18th, 2024

The Fake Oportun Financial Receipt Scam

Meet Ellen, a hardworking single mom who toils from 9 to 5 to keep her family afloat. One bright and sunny day, Ellen logged into her online banking account, where she noticed a transaction she did not recognize. The transaction charge was listed as "ACH Debit - Oportun Savings 9100001" in her bank statement and the merchant was listed as 'Oportun Financial'.

Ellen thought she had been diligent with her finance. She knew she had never taken any loan or made any transaction with Oportun Financial. Perturbed by this unexpected charge, she decided to look further into it. Remembering she'd recently received an email from Oportun Financial, she revisited the mail and clicked on the link provided to access their portal. The interface looked professional and similar to the Oportun Financial's website she remembered from her internet searches.

Oblivious to the fact that she had been redirected to a phishing site cleverly designed to mimic the real one, she entered her login credentials. Almost immediately, she received a call from a person claiming to be an 'Oportun Financial representative,' who asked her to verify her identity with certain personal and financial information. Ellen, eager to resolve the fraudulent charge, unsuspectingly gave away the requested information.

It wasn't until a few days later when additional charges flooded her bank statement that Ellen realized her account had been compromised. Feeling betrayed and completely distraught, Ellen knew she had to take immediate action. She contacted her bank and froze her accounts to prevent further transactions. She then connected with the legitimate Oportun Financial, reported the incident, and changed all her passwords.

During this nerve-wracking ordeal, a friend suggested she use SimplyWise, a tool designed to alert users of any suspicious financial activity. She promptly downloaded the app and was immediately impressed by its user-friendly interface and top-notch security measures.

How to Protect Yourself from Scams and Fraudulent Receipts

Scams can occur to anyone and they have become increasingly sophisticated. Therefore, it is crucial to stay on guard. Here are some steps to keep in mind:

1. Verify Emails: Always check the sender's email address carefully. A tiny typo or an odd-looking address can often expose a scam.

2. Avoid Clicking Links: Instead of clicking links in emails, access the official website by typing the URL into your browser.

3. Enable Two-Factor Authentication: This is an extra layer of protection for your accounts that goes beyond the simple username and password security.

4. Monitor Your Accounts: Check your bank and credit card statements regularly to catch any unauthorized or suspicious transactions swiftly.

5. Report Suspicious Activity: Upon receiving a questionable email or identifying unauthorized transactions, report it to the respective company and your bank immediately.

6. Use SimplyWise: The SimplyWise app assists you in managing your receipts and detecting unusual activities. Here’s how it works:

Step 1: Download SimplyWise

Download the SimplyWise app and connect your email account. SimplyWise will search through your emails and find all the receipts in your inbox. This allows you to understand what exactly you are paying for when you see a bank transaction on your statement.

Step 2: Connect your Accounts

Connect to your bank account/credit card transactions through the secure (256 bit encryption) Reconciliation feature within the app.

Step 3: Reconcile

Reconcile the charges reported by your financial institution against what you’ve recorded in your SimplyWise account. Find fraud quickly! SimplyWise will match your transactions to your bank/credit card spending and check those items off.

Find fraud quickly!

SimplyWise will match your transactions to your bank/credit card spending and check those items off.

Ellen's experience serves as a stark reminder of the scam risks we all face. By staying informed and cautious, we can protect ourselves from falling victim to similar scams. With tools like SimplyWise, we can add an extra layer of security to our financial life, making it easier to manage receipts and detect fraudulent activity before it becomes a major issue. From then onward, Ellen did not have to worry about unexpected or fraudulent charges in her bank statements, thanks to SimplyWise!

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