Financial fraud through the gain of your Debit or Credit card information continues to increase at a rapid rate. Criminals are getting more advanced and aggressive with their scams, and most of us don’t know what to do about it. According to a recent study, consumers feel they aren’t protecting their identity online as well as they should. Although there are many types of scams, we’d like to share with you the most recent types of scams that our members have become victims of. It’s our intention to inform you so you don’t become the next victim.
Phishing Scams Asking for Payment or Card Details
A phishing scam is a type of social engineering scheme in which thieves contact victims through emails, text messages or phone calls. For example, someone claiming to be from your bank or credit union might call to warn you that your Debit or Credit card numbers may have been compromised. They’ll use urgent or threatening language to get you to provide them with your numbers and other sensitive information that they can then use for fraud. If you receive unexpected communication from someone with an urgent demand for money or Debit or Credit card payments, or request that you log in to your account through online banking – say NO!
NEVER click on any links or download attachments and emails from unknown senders. If you want to keep your personal data and finances safe you must not give out any account information including protect Debit or Credit card information.
Skimming and Shimming Scams
In skimming and shimming scams fraudsters install skimming devices on or inside card payment terminals which collect card data. Known targets for this scam include gas pumps and ATMs. According to the FBI skimming costs financial institutions over 1 billion dollars every single year.
Look out for signs of tampering or misuse whenever you use your ATM, Debit or Credit cards at a shop or ATM.
Overcharge Scams that Ask You to “Verify” Your Card Numbers
In an overcharge scam, fraudsters send emails or make phone calls notifying you about an overpayment on your account but to access your refund you first need to verify your Debit or Credit card numbers. In reality, there is no overcharge and any attempt to verify will send your card data to a scammer. They may even ask you to click on an email they sent you and have you log into your financial account through your online/mobile banking app. If you follow their instructions, you now have given them control of your device as well as your account.
The best advice is to NEVER give up any sensitive information over the phone and click on any email or open any attachment sent to you by an unsolicited caller.
HOW TO PROTECT YOURSELF
VERIFY: Contact us a 510.690.6100 to verify the call, text, or email. Even if it was us, we’d appreciate you taking the extra time to confirm
PROTECT: Never provide your social security number, account numbers, or any personal information to anyone over the phone unless you initiated the call and know who is on the line.
IF YOU SUSPECT FRAUD
If you think you’ve been a victim of fraud, call us immediately at 510.690.600 so we can help to protect your Credit Union accounts. Know that you will need to also file a police report.
