Fraud protection

5/29/2020 – Scam alert: treat incoming phone calls with caution

Fraud alert phone scam

Scammers are busy at work. You may get a phone call with the caller pretending to be with your financial institution’s fraud department. The caller is likely using a spoofed phone number so the incoming number looks legitimate. The caller explains that possible fraudulent activity occurred on your card, and they provide you with fake transaction details or your card number so you believe your card was compromised. Under the guise of verifying your identity and helping you get a new card, the caller will attempt to gain your personal information and private banking information.

Identify the major red flags of a scam: know when to hang up

It’s not always easy to identify a phone call as a scam from the start—successful scammers will use many tools to appear legitimate. But when it comes time to gain the information that they need from you, there are some common major warning signs.

  1. The caller asks for your card PIN. Never provide your PIN to anyone—verbally or with your phone keypad. There is no valid reason that a caller will ever request your card PIN.

  2. The caller asks for your multi-factor authentication code. Never provide your multi-factor authentication code to anyone.

  3. The caller asks you to provide your online banking ID or password.

  4. The caller asks you to provide your card or CVV number.

Simple, powerful tip

Even if you think you will never fall for a scam, always be cautious with information that you provide to an incoming caller.

  • One simple step you can take to protect yourself is to hang up and call the business back at a number you know and trust—such as the phone number provided on the back of your debit or credit card or on your account statement.

See more articles about fraud and scam awareness

At Oregon State Credit Union, we work hard to protect our members from fraud by developing tools designed to thwart scammers, and by providing helpful fraud protection information that can help members learn how to safeguard personal information. The best way to keep your information safe is to be aware and knowledgeable.

These articles will help you learn how to recognize common scams, take action if you think you are a victim of fraud, and learn what you can do to protect your finances from fraud.

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