Cyber thieves target consumers with fraudulent messages soliciting personal and financial information that are designed to appear to be from legitimate financial institutions. These fraudulent messages are typically sent in the following forms:

• e-mail, known as “phishing”
• text messages to mobile devices, known as “smishing”
• phone call with recorded messages, known as “vishing”

What are these SCAMS and how do they work?

PHISHING: Phishing or brand spoofing, is a scam where a third party sends out legitimate-looking e-mails that appear to be from a well-known or trusted company in an effort to “phish” or extract from you personal and financial information. Phishing attacks usually take the form of unsolicited emails or pop-up Web pages.

Verified by Visa, a program which provides additional security for Visa cardholders making online purchases was recently targeted by a phishing e-mail scam. Note that e-mail phishing scams often include typographical errors. If you receive an e-mail that appears to have been sent by a fraudulent third party website, contact the Credit Union Member Services immediately. Remember, BFSFCU will never e-mail you asking for your sensitive personal information.

SMISHING: Smishing is terminology derived from “phishing”, and refers to similar scams utilizing SMS (Short Message Service) technology. SMS is the protocol used to transmit text messages to mobile devices.

Some Credit Union members have been targeted in wireless phone scams designed to trick them into divulging their sensitive information. Fraudulent text messages are sent to wireless phone users which threaten suspension of banking services. The message recipients are then directed to a phone number where an automated recording asks for their debit or credit card information.

VISHING: Vishing is a scam where a third party uses a “Robo” call or a recorded message to gain access to private personal and financial information from the public for the purpose of financial reward. The term is a combination of “voice” and phishing.

Members receive a call with a recorded message indicating that there has been an attempt by a third party to access the ATM, debit, or credit card and then asks them to “Press “1” for security”. An automated electronic voice then prompts the person to enter their ATM, credit, or debit card number and other security information.

Prevent being victimized by following these tips…

Be cautious when providing personal or financial information to any service provider, individual, or entity.

Never respond to unsolicited requests for personal financial information received via telephone or e-mail, even if the request appears to come from a legitimate institution that you do business with. This includes requests, to “confirm”, “verify”, “update”, your information.

Do not reply to suspicious emails or text messages threatening to suspend financial or other services. Contact the requesting company utilizing publicly known or published phone numbers.

Always be sure of who you’re dealing with. Don’t click on links in text messages, or call numbers listed in text messages. Verify contact information independently and key in Web addresses yourself.

Put passwords on all your financial accounts

Review credit card and financial statements promptly to determine if there are any unauthorized charges.

If you are concerned that you have been a victim, contact your financial institution immediately to prevent additional losses.

Compiled by the Mosaic Team. The information was taken from the BFSFCU website/flyer.