Remember, if you ever feel something is suspicious about a call or text, even if it looks like it might be from the credit union, immediately hang-up and contact our office using our official phone number: (800) 749-9732.
Fraud Alert: QR Codes and Cryptocurrency ATMs
First: The defrauder often requests payment from the victim and may direct the victim to withdraw money from the victim’s financial accounts.
Second: The defrauder provides a QR code associated with the scammer’s cryptocurrency wallet for the victim to use during the transaction. Third: The defrauder then directs the victim to a physical cryptocurrency ATM to insert their money, purchase cryptocurrency, and use the provided QR code to auto-populate the recipient address.
Due to cryptocurrency’s decentralized nature, once the funds are deposited, the recipient instantly owns the cryptocurrency, and often immediately transfers the funds into an account overseas, thus making funds untraceable and recovery highly unlikely.
Tips to Mitigate Risk / Loss Exposure:
➢Do not send payment or follow instructions from someone you have never met (including social media) to scan a QR code and send payment via a physical cryptocurrency ATM, even if you believe you have established a relationship with the individual.
➢Do not respond to an unexpected caller, who claims to be family member / friend, a representative of a financial institution, a business, a member of law enforcement, a lottery commission, a state or federal government representative or entity requesting personal information or demands cryptocurrency as payment.
➢If you are using a cryptocurrency ATM and the ATM operator calls you to explain that your transactions are consistent with fraud and advises you to stop sending money, you should stop or cancel the transaction.
➢Do not send payment or follow instructions from someone you have never met (including social media) to scan a QR code and send payment via a physical cryptocurrency ATM, even if you believe you have established a relationship with the individual.
➢Do not respond to an unexpected caller, who claims to be family member / friend, a representative of a financial institution, a business, a member of law enforcement, a lottery commission, a state or federal government representative or entity requesting personal information or demands cryptocurrency as payment.
➢If you are using a cryptocurrency ATM and the ATM operator calls you to explain that your transactions are consistent with fraud and advises you to stop sending money, you should stop or cancel the transaction.
If you believe you or a member have been a victim of a cryptocurrency ATM or QR code fraud, please report to your local FBI field office. The FBI also encourages victims to report fraudulent or suspicious activities to the FBI IC3 at www.ic3.gov.
Alert: Increase in Fraud SMS Text Messages and Phone Calls
May 14, 2024
We are seeing a high number of reports from members who are receiving phone calls and text messages claiming to be from our fraud department. These calls ask for personal information such as account usernames and passwords, security codes, member account numbers, social security numbers, and other credentials.
These are not calls from the credit union. We will NEVER contact you to ask for personal identifying information. If you receive a call or text you think seems suspicious, immediately hang up and call the number on the back of your credit union debit or credit card and report it.
A call may even appear to come from the credit union, but in reality it could be a fraudster “spoofing” the credit union’s phone number. Spoofing occurs when a fraudster knowingly falsifies the Caller ID to trick you into thinking the number is familiar.
Below are tips from our fraud team to help you avoid becoming a victim of spoofing fraud:
- A legitimate financial institution will never call or text you asking you to Venmo, CashApp, Zelle, PayPal, or utilize any payment app to transfer funds.
- A legitimate financial institution will never call or text you to ask you to withdraw money to hand over for safe keeping.
- A legitimate financial institution will never call or text you to offer to send a courier to your home or request a meet-up to collect cash, merchandise, PIN, payment card or checkbook.
- A legitimate financial institution will never call or text you asking for your PIN, account login password, request you move or transfer money to another account, or to purchase products (e.g., gift cards, money orders).
Please remember, if you ever feel something is suspicious about a call or text, even if it looks like it might be from the credit union, immediately hang-up and contact our office using our official phone number: (800) 749-9732
Fraud Alert: Phone Call and Text/SMS Scams On the Rise
Your vigilance in avoiding banking scams and protecting your financial wellbeing is critical. Please be aware of the latest scams we are seeing an increase in:
• Spoofing: Spoofing is when a caller deliberately falsifies the information transmitted to your caller ID display to disguise their identity. Scammers often use neighbor spoofing so it appears that an incoming call is coming from a local number, or spoof a number from a company or a government agency that you may already know and trust. If you answer, they use scam scripts to try to steal your money or valuable personal information, which can be used in fraudulent activity.
• Phone call “Vishing”—or voice phishing Scam: Fraudsters contact people impersonating legitimate financial institutions or fraud departments. Typically, they will ask for account or card information, try to pry information from you or record your voice in an attempt to gain access to your account and take your money.
• SMS Text Message “Smishing” Scam: Fraudsters send SMS text messages claiming to be your financial institution, often providing a link to sign in to your account online via a bogus website. The fraudulent website captures your private information, like your online banking password or account number, and the fraudster will attempt to gain access to your accounts and deplete your funds.
For Your Protection
The credit union will never contact you to ask for:
- your online banking username or password
- account number
- social security number
- your debit or credit card numbers
If you think your account is compromised or you have fallen victim to one of the scams above, please contact us as soon as possible.
What We’re Doing to Protect You
In addition to our dedicated fraud monitoring team, your accounts are monitored 24/7 by state-of-the-art, secure artificial intelligence technology that picks up on unusual activity. When fraud is detected, we will contact you and take measures to urgently protect your account.
Again, our fraud team will not ask for your account number or online banking username and password.
What You Can Do to Protect Yourself
• Regularly monitor your account in online or mobile banking
• Set up account alerts so you know when money is being deposited, transferred, withdrawn
• Use multi-factor authentication to get a sign-in code and add an extra layer of security
• DO NOT share your personal banking information with anyone
• Set up account alerts so you know when money is being deposited, transferred, withdrawn
• Use multi-factor authentication to get a sign-in code and add an extra layer of security
• DO NOT share your personal banking information with anyone
