Fraud Corner: What Credit Unions Will Not Ask You

There are many requests and questions credit unions won’t ask their members when it comes to personal information. Recently, there have been new scams that involve criminals pretending to be a credit union. They will ask you to carry out actions that will result in your account being hacked. Below are examples of what fraudsters posing as a credit union might do or ask you:

• Send an email with a link asking you to enter your online banking details. When someone enters their information through that link it will go directly to scammers. This is a well-known scam and affects many people. Credit unions will not email you with a link to go elsewhere to enter your information.
• Ask you to text personal banking information to their number. This is one of the most popular scams because of the high success rate for criminals. Credit unions will never ask you to text banking information to them.
• Send someone to your home. Scammers will say they work for your credit union and are sending someone to collect cash, cards, or information. Credit unions will never send an employee to your house.
• Try to provide banking services through mobile apps other than the credit union’s official app. To download the credit union’s mobile app, make sure to follow the listed link on the official website. Using links you find on other pages may only serve to highjack your information.
• Call or email to ask for your full PIN or online banking passwords. A credit union will not call requesting members to verify their PIN or card numbers.
• Ask you to authorize a transfer of funds to a new account or hand over cash. Criminals will inform a member that their money is being threatened by a corrupt employee or cyber-criminal and to move their funds immediately. This is a false statement used to get a member to move their funds to a scammer’s account.
• Ask you to carry out a “test transaction” online. Fraudsters will email members asking them to perform a test transaction online, perhaps because of a technical problem on the account. This will result in them stealing your money.
• Call to advise you to buy diamonds, land, or other commodities. Reputable credit unions do not call suggesting you purchase such items.

Credit unions will never do any of these examples above. If you experience any of these requests, do not comply and contact your local law enforcement or credit union.

« Return to "American 1 Blog"