Avoid Fraud

Common Fraud Scams

Account Takeover - Don’t share your info with anyone posing as our institution

Phishing - Don’t take the bait

Spoofing - Don’t trust caller ID

Passwords - The importance of strong passwords and password managers

Multi-factor Authentication - Always enable MFA

Online Romance Scams - People online aren’t always as they appear

Payment App Scams - Know who you’re sending money to

Recognize the Signs of a Scam

First and foremost, remember that FWCCU will never contact you and ask you to verify your full card number, digital banking username or security codes, social security number, or other personal information over the phone. Even if the call appears to come from the credit union, hang up and call the credit union directly to verify before providing any further information.

Recognizing the signs of an account takeover scam is crucial in safeguarding your financial well-being. Here are key indicators of which to be mindful:

  • Unusual Requests: Spoofing calls will often look like they are coming from the credit union phone number. They will tell you not to hang up or instruct you to not call the credit union directly.

  • You are Unable to Access Your Account: Popular scams right now involve getting you to share your 2FA security codes, then locking you out of digital banking while they take over your account and drain your money.

  • Security Alerts and Emails: If you begin receiving security alerts saying your password has been changed, or your account has been accessed by another device and it was not you, contact the credit union immediately. Even if you believe you may be talking to a credit union representative, hang up and call the credit union directly.

  • Urgency and Threats: Scammers commonly create a sense of urgency to manipulate victims into quick action. Be skeptical of calls that threaten dire consequences. They may also claim a credit union employee is under investigation and to not call the credit union directly to avoid blowing their investigation.

Cybersecurity: What to do if your data has been breached

Have you gotten a letter or email warning that your sensitive personal information has been part of a data breach, and is at risk of being sold in the shadowy marketplaces of the dark web? Some emails list the stolen information, like all or part of your Social Security number, date of birth, and driver’s license number. If you’ve gotten one of these data breach notices, it can seem scary and overwhelming. But you’re not powerless against it! There are all kinds of ways to keep your data protected. Here are a few steps to take to help protect yourself against financial loss from identity theft.

Don’t click a link or use a phone number in unexpected texts or emails. It could be a “phishing” attempt, designed to trick you into disclosing sensitive information to scammers. If you think the message is legit — for example, if you have a credit monitoring service or a credit card with a company that monitors the dark web — contact the company using a website or phone number that you know is real. Phishing is one of the oldest tricks in the book for cybercriminals but it is just as effective as ever. According to CISCO’s 2021 Cybersecurity Threat Trends report, 80% of security incidents and 90% data breaches stem from phishing attempts.

Change your passwords to secure your accounts. Start by changing the passwords on your email accounts. Email accounts often are the weak link in online security because password resets for other accounts go to your email. If your email account password has become known, then an identity thief can log into your account and intercept your password reset emails.

  • Pro tip: When setting up new passwords, consider using a password manager. Free ones are built into most browsers and will automatically create passwords that are hard to guess. Be sure to use different passwords for each account and, if the account offers multifactor authentication, use it for added security.

Check your credit reports. After securing your accounts, make sure nobody has opened new accounts using your information. Visit AnnualCreditReport.com to get an annual free credit report from each of the three nationwide credit bureaus, Equifax, Experian, and TransUnion. If you find an account or transaction you don’t recognize, visit IdentityTheft.gov to report the identity theft and get a personal recovery plan.

Consider freezing your credit. A credit freeze, also known as a security freeze, is free to place and remove and is the best way to protect against an identity thief opening new accounts in your name. Alternatively, place a free fraud alert on your credit to make it more difficult for an identity thief to get new credit in your name.

Report the scam. If you have been a victim of fraud or a scam, you should report this to the FTC online (www.reportfraud.ftc.gov ) or by phone at 1-877-382-4357 and report it to the FBI at Internet Crime Complaint Center. Reporting these crimes can assist not only in recovery put prevention of future crimes. For additional information about popular scams, how to avoid them and what to do if you are a victim, visit https://www.usa.gov/scams-and-fraud.