Stay Safe from Scams (Text Version)
Stay Safe from Scams
Financial institutions here in Southeast Michigan and throughout the US are seeing increases in fraud. Learn to spot the warning signs to avoid falling victim from texts like these.
MSGCU Fraud Alert: Case 123456 Did you attempt $205.95 at WALGREENS today? Reply YES or NO. Opt Out reply STOP
No
MSGCU Fraud Alert: Case 123456 Thank you for your response. A specialist
MSGCU Fraud Center: Thank you for your response regarding our one time identity check. Please enter compromised USERNAME / CANCEL PASSWORD / CANCEL
Johnqexample / CANCEL PasswordExample1# / CANCEL
WARNING: You are asked to reveal your Online or Mobile Banking password.
Mscgu alerts) We declined a transaction for $935.28 was this you? Reply Y or N.
N
Thank you! One of our representatives will be in contact with you shortly.
WARNING: You receive a follow-up phone call after a response to a fraud alert.
FIRST THINGS FIRST: WE WILL NEVER ASK FOR YOUR PASSWORD.
MSGCU, or any other financial institution, will never ask for your online banking password or one-time log in verification code, so it’s a scam if anyone asks for either.
HERE’S A LOOK AT THE SCAM.
Criminals send a fake fraud alert via text message. They may try to make the initial fraud alert look more legitimate by adding a fake case number.
The fraudsters follow up via a phone call, or sometimes many phone calls once they get a response. Their goal is to trick their victim into revealing their online banking username and password. The stolen online banking credentials are then used to log in and steal money.
Scammers are using similar tactics to obtain full credit card numbers, including the 3-digit code on the back, to make unauthorized purchases.
LOOK OUT FOR RED FLAGS.
Don’t trust your phone’s caller ID. Fraudsters can easily make it look like their phone call is coming from any number, including MSGCU’s or any other bank or credit union. They might point out the phone number to make them seem legitimate.
The scammer may seem nice, keep their victims on the phone for a long time, or call many times with a sense of urgency. They’ll use convincing details purchased from the dark web to try to trick their prey into revealing their online banking credentials.
They’ll commonly instruct their targets not to log in to their account for a while, so they can transfer funds to their own account and not get caught as fast.
Don’t fall for it!
WHAT TO DO.
NEVER reveal your password. If you do, contact MSGCU immediately.
End the call immediately. Just hang up. Then dial MSGCU directly at (586) 263-8800 or (866) 674-2848. Don’t click on links in texts.
Share this message with friends and family to help protect them from scams, too.
©2024 Michigan Schools & Government Credit Union
Category: Security
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