"Phishing" is a common threat via e-mail, but a recent trend indicates that fraudsters are utilizing telephones and cell phones in their attempt to obtain your personal and financial information. These types of scams are referred to as "Vishing" and "Smishing." "Vishing" or "Voice Phishing" is a type of fraudulent activity that is similar to "phishing" except instead of asking you to click on a link in an e-mail, the fraudulent e-mail asks you to call a phone number operated by the fraudster. Another method is a fraudster calling your residence or place of employment. "Smishing" or "SMS Phishing" is another type of fraudulent activity that is similar to phishing except the fraudster sends a text message to your cell phone.
Just like phishing, the fraudster uses vishing or smishing techniques in an attempt to obtain your personal or financial information by pretending to be from Golden 1, a prospective employer or even the FBI. These fraudsters will often ask for your account number, credit or debit card number, social security number, PINs, mother's maiden name, date of birth or the security code on the back of your credit card.
Golden 1 has been notified in the past about e-mail phishing scams and deceitful attempts to obtain cardholder information with the intent of committing fraudulent activity against member accounts. Multiple credit unions have recently reported a phishing scam they are experiencing. This fraudulent scam attempts to capture card numbers through an automated telephone service.
The system indicates that the your debit cards have been placed on a hold status. In order to activate the cards, the message then asks you to call a toll-free 866-number and enter your 16-digit card number.
There are many ways for perpetrators to attempt to get your personal information, including the use of auto-dialers. It is important to limit the release of your personal information in order to protect yourself from fraud.
Golden 1 Credit Union wants you to be informed of this latest identity fraud. In this scheme, a criminal will use public records to obtain information pertaining to the victim’s identity such as name, address, phone number and signature. The criminal then calls the victim’s home phone service provider, and requests to have calls forwarded to the criminal’s phone number. The victim’s phone service provider is tricked into thinking that the victim is making the request, and all of the victim’s incoming phone calls are transferred to the criminal. This, along with some other techniques, will cause a Caller ID feature to make a phone call from the criminal appear to be coming from the victim.
From there, the criminal requests a wire transfer from the victim’s account via telephone or fax. The victim’s financial institution then calls the phone number on record to verify the transaction. But because of the phone number fraud, the call is directed to the criminal who confirms the transfer. Money is then transferred from the victim’s account to the criminal. By the time the victim and their financial institution figure out what happened, the criminal is long gone.
To help protect you from scams like this, Golden 1 Credit Union does not allow wire transfer requests by phone or fax. For security purposes, all wire transfers through the credit union must be initiated in person.
Protecting our members’ identities is of the utmost importance to Golden 1. To learn more about the many methods we have implemented to protect your identity, both over the phone and on Golden 1 Online Banking.
One example of a scam attempting to get the recipient to call the fraudster is an e-mail that claims to be from a financial institution stating there is a new security system to make accounts more secure and safe. The e-mail then states your card or account has been deactivated because of this new security system and asks you to call a phone number to activate the card or account. The phone number is not the financial institution's number, but rather a phone number operated by the fraudster.
Another example is where the fraudster calls you directly and already knows some information about you like your name or address. They state they are calling from a financial institution and ask if you have a Visa®or other credit card in an attempt to solicit more information from you. They then state they need to verify your account number and claim there may be fraudulent charges on your account. Finally, in this example, the fraudster will ask you to read the account number and expiration date on the front and the last three digits on the back.
A similar example of a phone scam is where the fraudster calls claiming to be from the Security and Fraud Department at Visa. They may give you a badge number and state your card has been flagged for an unusual purchase pattern and that they are calling to verify. They will then ask you to verify a bogus purchase in an attempt to raise your concern. They may describe details about your credit card or even your address. The caller will ask you to read the three-digit CVV number to him or her. What the scammers want is the three-digit CVV number on the back of the card. Do not give it to them. Instead, tell them you will call Visa directly. If during the call, the caller tells you your actual card number you should immediately contact the financial institution that issued the card and report the card as stolen.
In all cases, the fraudulent caller will ask you for information; do not give it to them. Golden 1 Credit Union or Visa will never call you requesting personal or confidential information.
Beware of callers who:
If you suspect that you have been a victim of a telephone fraud scam, call our Member Service Contact Center immediately at 1-877 GOLDEN 1 (1-877-465-3361). We can assist you in canceling compromised cards, changing account numbers and even add a password to your account for future transactions. If the information obtained by the fraudster includes a Social Security number, you may also contact the three major credit bureaus—Equifax, Experian and TransUnion—and place a "fraud alert" on your credit report. You may also contact the Federal Trade Commission's ID Theft Data Clearinghouse at 1-877-ID-THEFT (1-877-438-4338). Remember, Golden 1 Credit Union will never call you requesting personal or confidential information.
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This credit union is federally insured by the National Credit Union Administration.