Every day, people fall victim to scammers who steal their money through trickery. Often, scammers pretend to be from your credit union or another important organization in your life. Read on to learn how to spot a fraud — and be a victor not a victim.
What Are Scammers After?
When you get a call, text, or email from a scammer, it may seem all about you. The caller or sender may express concern about an overdue payment, or an account that is about to be closed, or a tax document you didn’t know about. They may even pretend to be a family member with whom you don’t have much contact and who needs you to do them a favor. Don’t be fooled by their friendly or familiar tone!
To assist with an “issue,” the caller or sender may ask you for information you should never give out:
- Username or password for Online Banking
- Personal Identification Number (PIN)
- One-time passcode (OTP) for Online Banking
- Social security number
This sensitive information is personal, and the callers and senders who ask for this are “phishing” — they are pretending to have a reason to gain access to your accounts. They hope you’ll take the bait so they can buy or borrow using your credit or even steal your identity.
UFCU and other legitimate callers or senders will never contact you to ask for private information, such as your digital banking username and password, PIN, and Social Security number.
It’s a different story if you call in to UFCU Member Services at (512) 467-8080 or (800) 252-8311. If you call us, we will ask for your one-time passcode to verify your identity. Here’s what will happen:
- A UFCU representative (whom YOU called) will request your permission to send a one-time passcode.
- With your consent, they will generate and send the passcode to you.
- After receiving the passcode, you can share the passcode with the representative to prove your identity and receive assistance.
The extra few minutes this takes is worth the security of knowing a stranger cannot call UFCU and discuss your accounts.
Don’t Trust, Always Verify
Cybersecurity is everyone’s responsibility, and that means paying attention to incoming requests. Try to look past a caller’s tone and focus on their request: If it’s for funds or personal information, decline or cut the communication.
It can be difficult to say no to people who contact you, especially if they claim to know you, sound friendly, are persistent, or give you worrying news. You don’t need to be rude. Just say, “It’s my policy to contact this organization myself. Thank you for your call,” and hang up. If they claimed to be a grandchild or distant family member, say “I’m going to follow up with another family member about your situation,” and hang up.
Set your mind at ease by reaching out to the organization or a trusted family member using your own contacts — not a number or link that the caller gave you. Use detective skills and common sense to verify the caller’s statements.
If you think you might have already revealed sensitive information, don’t be embarrassed. Call us right away at (512) 467-8080 or (800) 252-8311, or visit a UFCU branch during normal business hours. A phone call is a small investment compared to theft or fraud that could have devastating effects.
Forward suspicious emails from UFCU or other banking communications to [email protected]. Do not click any links in a suspicious text from us; instead, email us the details.
Respond to Our Fraud Alerts
Credit and debit cards are targets for scammers. UFCU blocks your card and alerts you when we suspect fraudulent activity on your VISA® card. We try to send you fraud alerts as quickly as possible to identify fraud and stop funds from leaving your account.
First, we’ll contact you by text if you have a mobile phone number on record with us. The text message will be sent from the number 236-18. If you don’t respond, we send an automated voice call requesting that you verify the suspicious transaction. Here’s where your part comes in. If you tell us the transaction is valid, we immediately unblock your card. If you say you don’t recognize the transaction, a live agent will help you. Please get back to us as soon as possible after you receive an alert. If a transaction remains suspicious, we may decline the transaction and block or even cancel your card for your protection.
The good news? If your card is canceled due to fraud, you can pick up its replacement at any branch during business hours. There’s no need to wait for mail delivery, just let the agent know you’ll do that.
To get your Visa card fraud alerts promptly, keep your contact information up to date. Log in to Online Banking and select Profile » Change Contact Info to review and update your information, or contact us and ask a representative to update it for you.
Outsmart the Scammers
In addition to responding promptly to fraud alerts, your self-defense plan should include these good habits:
- Monitor your accounts daily.
- Use CardKeeper® for instant card control.
- Avoid typing your PIN. Instead, select “Credit” at automated point of sale terminals.
- Visit our fraud prevention page for more on how you can keep your account secure.
- Only use online merchants that have secure websites for processing credit card transactions. (These websites start with https instead of http when you click the full name in your browser’s address bar.)
- Never write your PIN on your card.
- Always destroy or shred expired cards, receipts with card numbers, card statements, and credit card offers.
- Never respond to unsolicited requests for your credit or debit card number. When in doubt, call the number on the back of your card.
With your vigilance and cooperation, together we can protect your funds when scammers come calling.
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