Fraud Education Center

Fraudsters have become increasingly adept at getting cardholders to share the information they need to commit fraud by posing as financial institution call center agents, or by sending text messages that look like they are coming from your institution, warning of suspicious transaction activities. They are also known to call in to call centers posing as cardholders requesting changes to card information and
parameters.

The fraudsters do this by using information stolen through data breaches at health insurance providers, reward program providers, credit bureaus, merchant terminals, and social media sites, as well as through malware programs deployed on personal computers, to mention just a few. Stolen personally identifiable information (PII) is combined with stolen card information, resulting in sufficient information to create profiles that fraudsters can use to position themselves as the actual cardholders.

Below are tips about keeping your information safe:

A phone call from Premier Source Federal Credit Union’s automated dialer will only include a request for your zip code, and no other personal information, unless you confirm that a transaction is fraudulent. Only then will you be transferred to an agent who will ask questions to confirm that you are the actual cardholder before going through your transactions with you. If at any point you are uncertain about questions being asked or the call itself, hang up and call us directly. If a call is received by the cardholder, claiming to be our call center and asking to verify transactions, no information should have to be provided by the cardholder other than their zip code, and a ‘yes’ or ‘no’ to the transaction provided.

We will NEVER ask you for your PIN or the 3-digit security code on the back of your card. Don’t give them out to anyone, no matter what they say. Hang up and call us directly. Fraudsters will often ask cardholders to verify fake transactions. When the cardholder says no, they did not perform those transactions, the fraudster then says that their card will be blocked, a new card will be issued, and that they need the card’s PIN to put it on the new card. Many people believe this and provide their PIN. The 3-digit CV2 code on the back of the card will allow a fraudster to conduct card-not-present transactions.

Regularly check your account online to see if there are any suspicious transactions that have occurred, but especially if you are unsure about a call or text message you’ve received. If anything looks amiss, call us directly for assistance.

If you have received a voice- or a text-message from us and are unsure about responding to it, call us directly for assistance.

1-877-467-7061
Option 2 – Fraud Monitoring

Online security is on everyone’s minds these days. In this busy world, we spend more and more time using our electronic devices—PC, tablet, mobile phone—to help us stay organized and get things done. Whether you’re online checking your account balance, paying bills, transferring money or shopping, you want to make sure your personal and financial information is safeguarded.

Learn more about card skimming here

Protect Your Computer

Remember to keep your devices updated with the latest security software and always take time to download any recent security updates. A strong offense is always the best defense!

Learn more about safeguarding your devices.

Be Smart Online

Just as important as your computer’s security is learning how to protect your own actions when online. While browsing the internet or using online banking, be very cautious. There are many ways that hackers can steal your information. Some telltale signs:

• Inability to log into online banking account
• Strange message that online account is unavailable
• Sudden request to re-enter password or security token information
• Loss of computer speed
• Changes in computer screen appearance

Learn more about computer security.

Be Cautious of Scams

Online scams are a very popular way for personal information to get stolen. Recognizing these scams is the best way to avoid them altogether. Some hints:

• Turn pop-up blocker on
• Do not give out personal information to unsecure websites

Learn more about how to avoid online scams.

Identity Theft

Identity theft is one of the fastest growing crimes in the United States. Most victims don’t realize that a dishonest person is using their information until being turned down for credit or receiving calls from unfamiliar creditors seeking payment for items that were never purchased.

Read the Federal Trade Commission’s (FTC) identity theft articles.

Credit card fraud is the unauthorized use of a credit or debit card, or similar payment tool (ACH, EFT, recurring charge, etc.) to fraudulently obtain money or property. Credit and debit card numbers can be stolen from unsecured websites or can be obtained in an identity theft scheme.

Learn more about credit card fraud.

Debit and credit card fraud costs cardholders and issuers millions of dollars each year. While theft is the most obvious form of fraud, it can occur in other ways. You can’t always prevent it from happening, but you can create some obstacles and make it tougher for someone to get hold of your cards and card numbers. Treating your credit cards and account numbers like cash—that is, very carefully—is one way to head off potential misuse.

How does credit and debit card fraud happen?

Theft, the most obvious form of credit and debit card fraud, can happen in a variety of ways, from low tech dumpster diving to high tech hacking. A thief might go through the trash to find discarded billing statements and then use your account information to buy things. A retail or bank website might get hacked, and your card number could be stolen and shared. Perhaps a dishonest clerk or waiter takes a photo of your credit or debit card and uses your account to buy items or create another account. Or maybe you get a call offering a free trip or discounted travel package. But to be eligible, you have to join a club and give your account number, say, to guarantee your place. The next thing you know, charges you didn’t make are on your bill, and the trip promoters who called you are nowhere to be found.

What can you do?

Incorporating a few practices into your daily routine can help keep your cards and account numbers safe. For example, keep a record of your account numbers, their expiration dates, and the phone number to report fraud for each company in a secure place. Don’t lend your card to anyone—even your kids or roommates—and don’t leave your cards, receipts, or statements around your home or office. When you no longer need them, shred them before throwing them away.

Other fraud protection practices include:

• Don’t give your account number to anyone on the phone unless you’ve made the call to a company you know to be reputable. If you’ve never done business with them before, do an online search first for reviews or complaints.
• Carry your cards separately from your wallet. It can minimize your losses if someone steals your wallet or purse. And carry only the card you need for that outing.
• During a transaction, keep your eye on your card. Make sure you get it back before you walk away.
• Never sign a blank receipt. Draw a line through any blank spaces above the total.
• Save your receipts to compare with your statement.
• Open your bills promptly—or check them online often—and reconcile them with the purchases you’ve made.
• Report any questionable charges to the card issuer.
• Notify your card issuer if your address changes or if you will be traveling.
• Don’t write your account number on the outside of an envelope.

Report losses and fraud

Call the credit union and card issuer as soon as you realize your card has been lost or stolen at the numbers listed below:

Once you report the loss or theft, the law says you have no additional responsibility for charges you didn’t make; in any case, your liability for each card lost or stolen is $50. If you suspect that the card was used fraudulently, you may have to sign a statement under oath that you didn’t make the purchases in question.

Protecting Your ATM/Debit Card

• Always protect your ATM/Debit card and keep it in a safe place, just like you would cash, credit cards, or checks.
• Do not leave your ATM/Debit card lying around the house or on your desk at work. No one should have access to the card but you. Immediately notify your bank if it is lost or stolen.
• Keep your Personal Identification Number (PIN) a secret. Never write it down anywhere, especially on your ATM/Debit card.
• Never give any information about your ATM/Debit card or PIN over the telephone. For example, if you receive a call, supposedly from your bank or possibly the police, wanting to verify your PIN, do not give that information. Notify the police immediately.

Using an ATM

• Be aware of your surroundings, particularly at night. If you observe or sense suspicious persons or circumstances, do not use the machine at that time.
• Have your ATM/Debit card ready and in your hand as you approach the ATM. Don’t wait to get to the ATM and then take your card out of your wallet or purse.
• Visually inspect the ATM for possible skimming devices. Potential indicators can include sticky residue or evidence of an adhesive used by criminals to affix the device, scratches, damaged, or crooked pieces, loose or extra attachments on the card slot, or noticeable resistance when pressing the keypad.
• Be careful that no one can see you enter your PIN at the ATM. Use your other hand or body to shield the ATM keyboard as you enter your PIN into the ATM.
• To keep your account information confidential, always take your receipts or transaction records with you.
• Do not count or visually display any money you received from the ATM. Immediately put your money into your pocket or purse and count it later.
• If you are using a drive-up ATM, be sure passenger windows are rolled up and all doors are locked. If you leave your car and walk to the ATM, lock your car.

Special Precautions for Using an ATM at Night

• Park close to the ATM in a well-lighted area.
• Take another person with you, if at all possible.
• If the lights at the ATM are not working, don’t use it.
• If shrubbery has overgrown or a tree blocks the view, select another ATM and notify your bank.

ATM Crime

These tips are meant to make you aware that although rare, ATM crime can happen. Preventing such a crime must be a cooperative effort between you and your bank.

In a fake check scam, a person you don’t know asks you to deposit a check— sometimes for several thousand dollars, and usually for more than you are owed — and send some of the money to another person. The scammers always have a good story to explain why you can’t keep all the money. They might say they need you to cover taxes or fees, you’ll need to buy supplies, or something else.

Fake checks come in many forms. They might look like business or personal checks, cashier’s checks, money orders, or a check delivered electronically. Here’s what you need to know about fake check scams.

Learn more about the types of fake check scams, how to spot and avoid them and how to report them through this in-depth article from the FTC.

Gale Stallworth, the Acting Inspector General of Social Security, is raising alerts about a new phone scam. Thieves involved in this phone scam sound very similar to those from government agencies such as the International Revenue Service (IRS) or the Social Security Administration (SSA). Scammers also have the ability to change their caller ID to make it look like they are calling from the IRS or another government agency.

What happens during a call?

Scammers will identify themselves as SSA employees staying that the employee does not have all of the person’s personal information, including their social security number, and they need additional information to claim their benefits.

SSA employees may contact you by telephone but would never threaten you for personal information or benefits

How can I avoid these calls?

If you’re unsure of whether or not the call is real, hang up immediately and call back using an official number. To avoid the call all together simply ignore the phone call and let it go straight to voicemail.

Remember these tips.

The IRS will never:

• Demand immediate information or payment over the phone, or discuss taxes you owe without sending you a bill first.
• Threaten to bring in local authorities to have you arrested for not immediately paying.
• Demand you pay taxes without giving you the right to appeal the amount you owe.
• Ask for any debit or credit card information over the phone.

Article was provided by Forbes.com. Read the full article here.

The latest form is smishing, another tool used by cybercriminals to obtain personally identifiable information and steal identities by infecting your smartphone through texts or an SMS message. The software’s malicious intent comes in the form of viruses, ransomware, spyware or adware.

The term “smishing” is a mashup of SMS (short message service) and phishing, which is when fraudsters utilize malware by sending emails which mimic a trustworthy source such as credit card company, financial institution or retailer. Unsuspecting consumers mistakenly open the email and click on the links, allowing the malware to be activated.

When people click on the links, the fraudsters can trick them into sharing their password, credit card numbers or other personally identifiable information such as Social Security numbers.

Now growing in popularity, fraudsters often deploy smishing because too many people are unaware of this new type of fraud and trust text messages more than the emails they receive.

The fraudsters are following a similar strategy when it comes to phishing and rely on social engineering to get more people to give out their personal information. The smisher wants to obtain passwords, credit card information or your Social Security number to sell them on the darknet, a.k.a. the dark web.

If fraudsters are able to obtain your personal information, they can steal your identity and apply for credit cards and loans while pretending to be you, which can greatly affect your credit score.

Some smishers have deployed a tactic of telling people that if they fail to click on the link and provide their personal information, the company they’re pretending to be will start charging daily for the service. These fraudsters will attempt to fool you into thinking they are a legitimate source you would normally use or trust.

Ignore all messages that seem bizarre or are from companies where you did not sign up for text alerts.

How to Prevent Smishing

These two words will help you avoid smishing attacks: Delete and block.

Just like emails, don’t reply to texts to people who are not in your address book. There are too many incidences of fraud and the headaches of identity theft are not worth it.

When a text message or SMS comes from a number such as “8000” and does not resemble a standard phone number, skip them. Those are simply emails that are sent to a smartphone.

As more and more people share links from articles, videos or social media, it is easy to just click on a link. Skip the ones from people you do not know. If the link looks suspicious or out of character to be coming from that particular friend, ask them if they sent it.

Protecting Yourself From Identity Theft

If you communicate through your mobile device frequently or use it to watch videos or movies, consider adding a VPN to your phone. A VPN is virtual private network and prevents fraudsters from seeing your activity on the Internet.

VPNs can be used on a person’s mobile device, laptop or computer and is useful when you are accessing the Internet from a public network at an airport, retailer or hotel.

The risk of using public WiFi is high because criminals routinely intercept people’s sensitive and personal data as they are paying bills or shopping. The public networks are being watched by hackers so they can steal passwords and identities and install malware.

Adding a VPN will shield both your activity and personally identifiable information. While some VPNs are free, others can be purchased, but people should conduct due diligence before downloading one.

Since smishing is occurring more frequently, it is good practice to check your credit report on a regular basis to see if a fraudster tried to open a new credit card or another account in your name. Consumers can obtain one free credit report from Experian, Equifax and Transunion every 12 months at AnnualCreditReport.com. You can also get a free copy of your Experian credit report and dispute anything inaccurate on it here on Experian.com.

Article was provided by Experian.com.