65 Years of Fighting Fraud and Keeping Members Safe

When Meriwest first opened its doors in 1961, the world looked very different. Phones had cords, checks were handwritten, and “technology” meant a typewriter on every desk. But even then, one thing was already true: scammers were hard at work finding new ways to trick people out of their money.

Sixty five years later, the tools have changed, but the tactics haven’t. Many of the same scams that targeted consumers in the early 1960s are still circulating today, just dressed up in digital packaging. Here’s a look at the fraud trends that have stood the test of time, and how we continue protecting our members from them.

1. The Classic “Get Rich Quick” Scheme

In the 1960s, get rich quick scams often arrived through the mail, promising unbelievable returns, miracle products, or “can’t miss” investment opportunities. These schemes were so common that the U.S. Postal Inspection Service spent decades fighting fraudulent mailers offering prizes, land, or wealth that never materialized. 

Today, the same scam shows up online in the form of crypto fraud, fake investment apps, and social media “wealth coaches.” The pitch hasn’t changed: send money now, get more later. The outcome hasn’t changed either.

2. Advance Fee Scams

The “Spanish Prisoner” scam, an early version of today’s advance fee fraud, dates back more than a century, but it was still circulating widely in the mid 20th century. Victims were told a large sum of money was waiting for them, but they needed to pay a small fee first. 

Today, this same scam arrives as a phishing email, a text message, or a DM from someone claiming to be stranded, wealthy, or in need of help. The delivery method changed. The psychology didn’t.

3. Impersonation and Identity Fraud

Long before the internet, con artists were impersonating officials, business leaders, and even government agencies. In the 1960s, fraudsters like Frank Abagnale exploited trust by posing as pilots, doctors, and lawyers while cashing millions in fraudulent checks. 

Today, impersonation happens through spoofed phone numbers, fake websites, and AI generated voices. But the goal is the same: gain trust, then gain access.

4. Fake Check Scams

Counterfeit checks have been around for decades, but technology has made them easier to produce and harder to spot. Even today, scammers send real looking checks and ask victims to deposit them and wire back a portion — a tactic that has existed in various forms since long before digital banking. 

The check still bounces. The victim still loses money. The scam still works.

5. Social Engineering: The Oldest Trick in the Book

Social engineering — manipulating someone into giving up information or money — has existed for centuries. Even in the 1960s, scammers relied on charm, persuasion, and emotional pressure to get what they wanted. These tactics remain effective today, even as technology evolves. 

Whether it’s a phone call, an email, or a text, the strategy is the same: create urgency, build trust, and push the victim to act quickly.

What 65 Years Has Taught Us

If there’s one thing history makes clear, it’s that fraud doesn’t disappear. It adapts. Scammers reuse the same psychological tricks across generations, shifting from mailboxes to inboxes and from door to door pitches to social media DMs.

But the good news is that prevention has evolved too. Stronger security tools, better education, and a more informed public make it harder for fraudsters to succeed.

For 65 years, Meriwest has been committed to protecting our members through secure banking practices, fraud monitoring, and ongoing education. And as scams continue to evolve, so will we.

Because while fraud may be timeless, so is our commitment to keeping you safe.