Fraudsters will do just about anything to get their hands on your hard-earned money and personal and financial information — even posing as familiar financial institutions like your credit union! At Seasons Federal Credit Union, we're aware of recent scam attempts targeting our members, and we're here to help you spot the signs.
Take a closer look at credit union impersonation scams, and how Seasons FCU protects you against fraud:
How Do Scammers Pose as Credit Unions?
Fraudsters can “spoof" credit union email addresses and phone numbers to make it seem like you're being contacted by a trustworthy source. They may use pieces of personally identifiable information, such as your full name, to convince you to provide your account numbers, credit card numbers, Social Security number or username and password. Don't fall for it!
Here are some common credit union impersonation scenarios to watch out for:
Smishing (Text Message) Scams: Your Account is Locked or Compromised
Yes, scammers can even use texting as a way to steal your personal and financial information! Because SMS text messaging is a fast mode of communication, scammers are counting on their victims to act or reply before thinking it through. The best advice is to slow down and contact the source directly before engaging.
Example of an Account Locked or Compromised Scam
Smishing, the SMS variation of phishing, is the fraudulent practice of sending text messages impersonating companies to obtain an individuals personal information. This could include usernames, passwords, credit card numbers, or social security numbers.
In this specific text message scam, individuals receive a text message that purports to be a banking alert. It is possible to also receive messages impersonating other companies as well. The text message states that your account is locked or compromised. You might even receive a message from a company that you do not hold an account with.
Depending on your phone or how you receive texts, examples of these messages may look like these or similar:
If you click on the link provided, you will be directed to a website that will ask for personal information. The website might impersonate that of your financial institution and ask you to enter your username and password. If you enter these credentials, the fraudsters then have access to your bank account. The link could also be malicious and download a virus or malware onto your computer.
If you receive a message that your account has been locked out or compromised, always take it seriously. However, never click on links in these text messages.
Instead, contact your account provider directly using a telephone number obtained independently from the suspect message, such as from the account provider’s website, to verify the authenticity of the message.
Spot the signs:
- The message is from an unfamiliar number.
- The message uses a threatening or urgent tone.
- The message asks you to click a link to verify your identity or respond to confirm a credit or debit card charge.
You Received a Suspected Smishing Text - What's Next?
Steps taken after receiving one of these messages are dependent on whether you clicked links or gave any personal information. Always do the following steps:
- Report spam texts to your mobile carrier by forwarding to 7726 (SPAM).
- Delete the message and block or hide alerts.
- Notify the company being impersonated.
If you did click on a link or give out your information, do the following:
- Immediately change your passwords.
- Review any related accounts for any unauthorized activity.
- Get your device reviewed for malware or viruses.
- Contact the Federal Trade Commission to report and monitor identity theft.
- Report internet crime to the FBI’s internet crime complaint center or call your local FBI office.
Phishing (Email) Scams
Have you ever received an email that seemed a little fishy? It might be a Phishing scam! Scammers can create convincing emails that use company logos and employee names to gain the trust of unsuspecting victims. These emails often have a sense of urgency, instructing you to “act now" or your account will be suspended.
Spot the signs:
- Double-check the actual email address, not just the sender name. Is this an email address your credit union normally uses?
- Check for obvious grammar or spelling errors.
- Hover over links to see where they really go.
- Be suspicious of emails that ask for your personal information, such as account numbers, credit or debit card numbers, passwords, expiration dates or any other personal or financial information.
Vishing (Voice Call) Scams
In a Vishing scam, fraudsters will call pretending to be a credit union representative who needs the member's personal information to “verify" their account. Because the scammer has spoofed the caller ID, it looks like the call is coming from your credit union. So, how can you tell if the call is real or not?
Spot the signs:
- The caller initiates the call and insists they need you to provide your personal or financial information. Remember, Seasons FCU will never call you and ask for these details over the phone.
- The caller is being pushy or making threats to lock or close your account.
- When in doubt, hang up and call Seasons FCU directly.
How Does Seasons FCU Help You Keep Your Accounts Safe and Secure?
The most important thing to remember is that Seasons FCU will not contact you out of the blue asking you to provide, update or verify your personal and financial information. This is something scammers do!
Seasons FCU will never do the following:
- Directly link to Online or Mobile Banking or provide links to websites to authenticate your information.
- Contact you via email, phone, or text asking you to provide personal information or update/validate your credentials.
- Ask you to enter your personal account information directly in an email, chat box, or pop-up message.
- Ask you to respond to an email, chat box, or pop-up message with your personal account information.
- Threaten to close or suspend your account if you do not provide your personal account information.
- Request your personal account information because your account has been compromised.
If you have any questions or concerns about your Seasons FCU account, please contact us.