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Fraud continues to evolve as
consumer’s knowledge and awareness of fraud techniques increase. The
purpose of e-mail fraud is to get the consumer to provide confidential
information, such as account numbers, passwords and social security
numbers. The perpetrator then uses this information to gain access to
the consumer’s bank and credit card accounts. To keep you informed,
below is information on the three common forms of e-mail fraud:
phishing, vishing and smishing.
Phishing
was the earliest form of the e-mail scam.
• An e-mail is sent to the consumer, which appears to be from a
legitimate company or financial institution.
• The e-mail generally states an urgent response is necessary to keep an
account from being blocked.
• The e-mail asks the user to verify personal information, such as
account number, SSN, card number or personal identification number
(PIN), card expiration date, or card security code.
Vishing
soon followed phishing. This term is a combination of “phishing” with
“voice,” because the fraud is initiated via telephone and/or e-mail. A
vishing request can be received in two ways:
• The consumer receives a telephone call claiming to be from a financial
institution or other legitimate company, calling to verify personal
information (just as in phishing scams).
• The consumer receives an e-mail or automated telephone call,
requesting an urgent response or their account will be blocked. The
notification refers to a phone number that when called, asks for
personal information (card number, account number, PIN, etc.). Many
members are accustomed to entering this information in MATTI (Members’
Automated Teller Transaction Inquiry), so they aren’t alarmed when asked
in this situation.
Smishing
is the newest form of this scam. This term is a combination of
“phishing” with “short message service (SMS)” and is initiated via text
message. Smishing can occur when:
• The consumer receives a text message on a cell phone or other mobile
access device, confirming enrollment in a dating service (or other
company) and stating the user will be charged $2 per day unless the
order is cancelled. Once the recipient clicks to cancel the order, a
Trojan horse virus is downloaded that allows the criminal access to the
mobile device. This enables the criminal to listen to calls and access
information stored on the phone.
• The consumer receives a text
message stating an account is in danger and prompts the recipient to
respond by verifying personal information.
As these scams gain media attention, fewer people are willing to
respond. Unfortunately, the criminals continue to use technology to find
new ways to attempt to steal personal information.
Tips to Avoid Becoming a Victim of These Scams
• Never release personal or account information to unsolicited emails,
telephone calls or text messages.
• Protect your personal information. Be cautious of who you give this
information to.
• Don’t click on links embedded in unsolicited e-mails or text messages.
They can contain viruses or Trojan horses.
• If you receive a call or e-mail
directing you to act immediately to avoid your account from being
blocked, do not respond. Instead, contact the Credit Union by calling
1-800-491-4309, emailing us at
office@scfcu.net, or stop by one of our offices in Yankton,
Springfield or Parkston. If you feel your debit/credit card information
has been compromised after regular business hours, please call the
VISA Hotline at 1-800-543-5073. |
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