Phishing scams have been around since the 1980s and continue to use the latest technology to snag victims. Credit Union members are not exempt from these phishing attacks. Messages by email, phone, and cell phone texts are the most common method scammers use to contact people. The messages claim the member's local credit union is requesting account information to update account details, prevent account deactivation, etc.
The reasons the messages use, to snag people and convincing them the communication is real, ranges from one attack to another. Here at Credit Unions Online we are not aware of any credit union that will contact a member by text, email, or phone to ask members to verify account information or provide a link to a site to login using member account login information. Credit Unions, and other financial institutions, do not contact members in this way and ask for personal information, including account login details, social security number, or other details your credit union already has.
Prevention is the key to reducing the number of victims snagged into phishing hooks. If you receive a suspicious communication by email, text message, or phone call mentioning your credit union, contact your credit union or other financial institution. They may already be aware of it, but you could be the first person to report the suspicious activity and help prevent others from becoming a victim. Regardless of the amount of eduction credit union members receive about phishing scams, there are always a small percentage of people who believe these request for information as legitimate communications from their credit union. If you are someone who is aware of these scams, do your part and help educate your relatives, co-workers, or anyone else you know who is a member of your credit union. Educating people on phishing scams will go far and wide, eventually leaving the scammers wondering why no one is taking a bite from their phishing hook.By Gregory Hurley