Credit Union Impersonation Scams

Credit union members must stay alert to the latest attempts by scammers to access personal financial data. Some of our members have recently received emails, text messages, and phone calls from cyberthieves posing as credit union employees. Fraudsters spoof credit union email addresses and phone numbers and use pieces of personally identifiable information to gain member trust before stealing account funds.

Scammers are using easily obtained software to mimic the phone numbers of credit unions and other financial institutions. They then call their victims, posing as credit union employees from the security department, and try to obtain information from the members to set up actual transactions from members' online accounts.

"Spoofing" refers to a website/phone number that claims to be a certain type of business or charity, when it is a fictitious business that's out to gain a victim's credit card number or personal information.

Fraudsters use spoofing techniques to make it appear as though the communication is from the institution so they can:

·       Steal your debit card information

·       Bypass security protections and access your account online; and

·       Solicit funds for fake payments

Spoofed calls can be reported to the Federal Communications Commission and the Federal Trade Commission. These agencies have the authority to enforce federal laws that regulate caller ID spoofing, auto-dialed calls, and interstate fraud perpetrated over the phone. They may be unable to investigate individual cases, but reports can help them collect evidence for lawsuits against scammers.

To avoid becoming a victim of spoofing, never give out your complete personal information, online account information, or personal finance information. Members Choice Credit Union will never ask you for any of this to verify or assist you.

If you have lost money to a criminal scam, it should be reported to local law enforcement. Unfortunately, the credit union cannot reimburse you for any lost funds resulting from your sharing confidential information.

How to Avoid Spoofing Scams

The FCC and the credit union have provided tips for consumers to avoid spoofing scams:

  • You may be unable to tell immediately if an incoming call is spoofed. Be extremely careful about responding to any request for personal identifying information.

  • Never share private information via SMS text message. Legitimate attempts to validate credit or debit card activity only require a simple response (YES or NO).

  • Do not click on hyperlinked phone numbers sent via SMS text or links inside emails.

  • Pause before providing personal data via voice calls you did not initiate, even if the caller ID reads "Call Credit Union." Hang up and contact us using a phone number or contact form from our website.

  • If you answer the phone and the caller – or a recording – asks you to hit a button to stop getting the calls, you should just hang up. Scammers often use this trick to identify potential targets.

  • Never give out personal information such as account numbers, Social Security numbers, mother's maiden names, passwords, or other identifying information in response to unexpected calls or if you are at all suspicious.

  • If you get an inquiry from someone who says they represent a company or a government agency, hang up and call the phone number on your account statement, in the phone book, or on the company's or government agency's website to verify the authenticity of the request. You will usually get a written statement in the mail before you get a phone call from a legitimate source, particularly if the caller is asking for a payment.

  • Use caution if you are being pressured for information immediately.

  • If you have a voice mail account with your phone service, be sure to set a password for it. Some voicemail services are preset to allow access if you call in from your own phone number. A hacker could spoof your home phone number and gain access to your voice mail if you do not set a password.

  • Talk to your phone company about call blocking tools and check into apps that you can download to your mobile device. The FCC allows phone companies to block robocalls by default based on reasonable analytics. More information about robocall blocking is available here.

  • Remember to check your voicemail periodically to make sure you aren't missing important calls and to clear out any spam calls that might fill your voicemail box to capacity.

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