Be Aware of Phishing Scams That Lure Members Into Disclosing Information:
Fraudsters are finding new ways to lure individuals into disclosing their personal and financial information. While the style and type of information is constantly evolving, there are phishing scams that continue to affect credit unions and members. These scammers need your personal and financial information to put money into their pockets - regardless if the money comes from your savings, checking or loan accounts. Time and again, scammers are successful in identifying and targeting the weakest link to enable this crime.
The credit union industry continues to communicate the various types of phishing (email), smishing (text message), vishing (landline), VoIP (internet phones) and mail letter phishing scams. These tactics are working because members continue to disclose their information.
Bringing awareness to our members and educating them on the changing phishing landscape is critical for our industry.
The following are phishing techniques that fraudsters are using to capture members' personal and financial information:
Scam: Social Networks: Members should be wary of clicking any links in emails or accessing social networking sites for holiday themes such as "Thanksgiving is upon us." Holiday scams contain links that redirect members to an indirect site registered by the fraudster
Prevention: Members should close their browsers if they see a link to download or install an application.
Scam: Call Forwarding: Fraudster is call forwarding your members' landline or cell phone number to another telephone. In most cases, it's a prepaid cell phone.
Prevention: Members should place a password on their telephone numbers to prevent them from being call forwarded.
Scam: Text Messaging: Fraudster sends a text message (smishing) and your members respond to the request.
Prevention: Credit unions advise members to be alert when text messages appear on their cell phone, smart phone or PDA device. If the text message requests personal or financial information, members should contact the credit union immediately and not respond to the text message.
Scam: System Intrusions: Fraudsters are focused on phishing members to provide account numbers, passwords and user names to get into the home banking system. The industry has shown an up tick in system intrusions through unauthorized ACH and/or wire requests.
Prevention: NET FCU has implemented multifactor authentication to prevent fraudsters from gaining access to Home Banking system. Members should monitor their transaction activity daily to help identify any unauthorized activity. They should watch for unauthorized ACH or wire transfers. Never share your user names, passwords and any account information.
Scam: Voice Vishing: This scam attempts to trick members into providing personal and financial information over the phone. Most vishing scams begin with an email or text message asking you to call a toll-free number. When members call the number, they are led through a series of voice prompted menus that ask for key financial information such as a card or member account and the PIN.
Prevention: Members should not call the telephone number. Rather, they should report this to the credit union and telecommunications carrier immediately. This number needs to be shut down to help prevent others from responding to the attack.
Scam: Spoofing Caller ID: Members receive a call from either a live person or a recorded message with a spoofed caller ID. The caller ID may list a legitimate looking telephone number. Fraudsters have spoofed caller ID systems or assign any area code to a phone number so it appears to be an 800 number or a local number.
Prevention: Members should never provide any personal or financial information to the caller. Always hang up and contact the credit union to report this activity. Your credit union will not request personal or financial information from you via a telephone call. Email, text message and phone calling are various forms of phishing. Fraudsters are asking for other types of information beyond card information to steal money from you as members. Ongoing member education is critical since these types of attacks are not going away.
If you fall victim to fraud, scams or identity theft you can visit OnGuard Online website. It provides practical tips from the federal government and the technology industry to protect from internet fraud.