Our goal is to make this your new, primary source of information for online safety, protecting your personal information, the latest fraud trends, and any breaking news in the world of security that may affect you.
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Provided below are informative articles to help keep you aware of Security Hot Topics and alerted to scams that may affect our membership.
February 5, 2016
Fraudsters “Phishing” for Your Confidential Information!
Members in the Morristown, TN area have reported receiving phone calls supposedly our processor’s neural network that watches for potentially fraudulent charges and tries to contact cardholders. The callers identify themselves as from the 'credit union', and say there is a problem with the card BUT then ask for card number info, etc.
This is the perfect example of scammers cold-calling random individuals trying to get them to give up information such as card number, PIN, security code, etc. in order to counterfeit a card. Sometimes they target a specific geographic area and then move on to another.
The Tennessee Credit Union does use the expertise of the security staff of our card processor. They may make calls to inquire about an unusual transaction attempt on your card (that might be indicative of fraud), and they would identify themselves as calling for the credit union. But they would not have to ask for your card number or any other secure information related to that card such as PIN or security code.
As a reminder, if you feel you have given out this information to a scammer, you should contact the financial institution your card is with in order to take steps to protect your account. And as always, stay current on ways to protect yourself from all types of scams and fraud by taking advantage of all the learning tools in TTCU’s Security Center.
August 6, 2015
Mobile Deposit Scams
Financial institutions are reporting that accountholders are being victimized by fraudsters in a way that involves the use of mobile deposit applications. The scam itself is an old one, usually perpetrated with a paper check, but the method is a new twist in the story. Here’s how it works.
You’re out there on Facebook looking for work-at-home jobs or other opportunities to make some money. You run across an offer that may seem to be legitimate, but it requires you to a) receive electronic deposits into your bank account, and b) keep part of those funds and forward the rest to your contact person. The ‘new’ twist is that you are asked to give the fraudster your security credentials for signing on to online banking or to your remote deposit application; where they will submit a check (which is counterfeit), to your account. You do this; the check comes in; you send part of the money back to them; the check is returned as counterfeit. In this situation, not only will you be responsible for the total amount of the check when it is returned, you have also potentially compromised the security of your entire account relationship and personal financial information.
Let’s outsmart these fraudsters! Always be cautious about any online offer being made. Common sense tells us that we shouldn’t have to send money back to anyone. And we should never give someone our usernames, passwords or any security credentials to our online banking, our remote deposit capture app, or any other application that secures our money and information. No matter how much the fraudster pressures us to do this or how good the offer seems, once account information is requested, you can 100% guarantee that the offer is bogus.
July 8, 2015
Watch Out For This Mobile Text Phishing Scam
TTCU has been notified by CO-OP Financial Services of a mobile text phishing scam that some of its member credit unions are experiencing. Although TTCU does not use CO-OP’s Mobile application, this is still important information for you to know in case you have this service through another credit union.
This scam is a fraudulent attempt to capture account information using an automated SMS/text message. The perpetrators refer to themselves As “CO-OP Mobile”. The message requests that the member enter their account information (including ATM PIN). Should you receive one of these text messages, do not click on any of the links within the message and do not respond to the request for information. Genuine CO-OP Mobile MSM Messages do NOT as for account information.
If you feel you have responded to this scam, please contact the credit union through which you use this service and they will take steps to help protect your account. As always, limiting the release of personal information is a good way to help protect yourself from fraud.
June 10, 2014
Account Activation Text Scam
In various states across the country, fraudulent text messages are being sent to consumers in an effort to steal personally identifiable information. The automated text warns consumers to call certain numbers in order to reactivate their payment cards. An example: “Federal Credit Union ALERT: Your CheckCard has been temporarily LOCKED. Please call Card Services line (407) 574-2992.” The message does not reference a particular issuing brand of card but may vaguely refer to a credit union or bank. Originating numbers for the texts have included 786-300-2335 and 971-208-9936. These numbers are disbanded. New numbers will most likely be generated for future use. The text message may also originate from Jamaican area code 876- which is easily confused by consumers with a toll free number.
How to protect yourself from this scam:
• The most important thing to remember- is that if your card issuer detected potential fraud on your card and attempted to reach you, they would not need to ask for your card number, PIN or security code. Normally the card would not be deactivated without attempting to reach you first in order to confirm the questionable transaction.
• Remember, the scam may not be limited to the numbers included in the alert. You should be wary of such texts (or emails) regardless of the telephone numbers used.
• If you report the scam to your financial institution, please share as much detail of the text as possible. They can share with law enforcement.
• As always, if you have given out information prior to realizing the text is a scam, please contact your card issuer as soon as possible so that steps can be taken to protect your account. For cards issued by The Tennessee Credit Union, you can contact any branch, or you can call our Fraud Specialist directly at 615-780-7728.
April 10, 2014
Consumers should be wary when answering ads for rental property online. Here’s yet another way that fraudsters can gain enough personal financial information from you, in addition to collecting money from you.The scenario is this: A person places an entry on an online site claiming to have a house for rent, or possibly even for sale. You can even drive by and see that the property exists, but the catch is that the property does not belong to this person. Their goal is to gain enough information from you (by starting a rental application online, etc.) to commit identity theft. Be cautious about any online initiated real estate transactions and be sure to check out ownership ofany property you intend to rent. Never complete any application, pay fees, etc. until you’ve viewed the property and checked out ownership via public property records, etc.
Email Scam Targeting Small Businesses
The Federal Trade Commission has announced an email scam that targets small businesses. This scam email, with the subject line “Pending Consumer Complaint” falsely states that a complaint has been filed
with the FTC. Businesses are being warned not to open this email as they will be at risk for installing a virus or spyware on the computer.
March 17, 2014
Telephone and Email Phishing Scams Update
A timely reminder from CO-OP Financial Services regarding telephone and email Phishing Scams. These phone calls are fraudulent attempts to capture card number and/or PINs that are done with an automated phone service that comes from various phone numbers. One recent number reported is 877-277-3125. The message on the phone call indicates that a member’s debit card may be compromised and has been placed on hold status. The member is asked to re-activate the card by pressing ‘1’ to unblock it. From there the member may be asked to reveal sensitive personal information.
CO-OP has been made aware of a recently reported phishing scam that credit unions may be experiencing. This fraudulent attempt to capture cardholder information is done with an email from possible various credit union email addresses. One recent email reported is email@example.com, however there could be various emails used.
These are just a few of the ways that fraudsters attempt to gain personal information. As consumers and users of debit and credit cards, we must be mindful of this and limit information that we release. TTCU, like many financial institutions, does work with a processor that makes use of a neural network that monitors for unusual, possibly fraudulent transaction attempts. If CO-OP Financial Services Member Card Security calls about a transaction, they will limit questions to such things as date of birth, last four digits, etc. to confirm identity. They would never ask to the cardholder to reveal the entire number or any PIN or security code.
As always, if a member suspects they have revealed sensitive information to a fraudster, they can call any of our branch locations, or call Jason Cagle, Fraud Specialist at 615-780-7728 to take steps to protect their accounts.
March 12, 2014
Card Cracking” Scam - Targets Younger Consumers
What would you do if individual asked you if you’d like to earn some quick, easy money? It’s easy, all you have to do is give them your ATM/Debit and PIN. They will it use to deposit a check to your account via an ATM. They will then withdraw most of it, but leave some in the account as your ‘payment’ for helping them, and give your card back. Easy money, right? Please think again!! First of all, if you give someone your Card and PIN, you are authorizing them to do all of the transactions they do with it, so you can still be liable (lose money with no hope of recovery or have to pay money back to your financial institution). Next, that check they gave you? It is counterfeit, and when it is returned, you will be liable for repaying your financial institution for the money that was withdrawn. This is a scam that is targeting college campuses across the U.S., and is a no-win situation for you. Play it smart and say no anyone who approaches you through social media, by mail, email, and especially in-person on your college campus where these fraudsters intentionally target people who they know are always in need of money!
As always, if you have experienced this or any other type of activity in regard to your account at The Tennessee Credit Union, please give our Fraud Specialist a call at 1-800-755-8828, x 7728.
December 23, 2013
Telephone Phishing Scams
A timely reminder from CO-OP Financial Services regarding Telephone Phishing Scams.
These phone calls are fraudulent attempts to capture card number and/or PINs that are done with an automated phone service that comes from various phone numbers. One recent number reported is 877-277-3125. The message on the phone call indicates that a member’s debit card may be compromised and has been placed on hold status. The member is asked to re-activate the card by pressing ‘1’ to unblock it. From there the member may be asked to reveal sensitive personal information.
This is just one of many ways that fraudsters attempt to gain personal information. As consumers and users of debit and credit cards, we must be mindful of this and limit information that we release. TTCU, like many financial institutions, does work with a processor that makes use of a neural network that monitors for unusual, possibly fraudulent transaction attempts. If CO-OP Financial Services Member Card Security calls about a transaction, they will limit questions to such things as date of birth, last four digits, etc. to confirm identity. They would never ask to the cardholder to reveal the entire number or any PIN or security code.
As always, if a TTCU member suspects that sensitive information was revealed to a fraudster, please call any of our branch locations, or call Jason Cagle, Fraud Specialist at 615-780-7728 to take steps to protect your accounts.