Beware of New Phone Scam

Beware of New Phone Scam

The scam targets debit card information followed by large withdrawals from members’ checking accounts. The gist is this — members get a phone call with the caller pretending to be with your credit union’s fraud department. The caller is likely using a spoofed phone number so the incoming number looks legitimate. The caller explains that possible fraudulent activity occurred on your card, and they provide you with fake transaction details so you believe your card was compromised. Under the guise of verifying your identity and helping you get a new card, the caller will attempt to gain your personal information and private banking information.

There are three major red flags that should tell members to stop the call and hang up immediately: 1.The caller asks for your card PIN. Never provide your PIN to anyone—verbally or with your phone keypad. There is no valid reason that a caller will ever request your card PIN. 2.The caller asks you to provide your online banking ID or password. 3.The caller asks you to provide your card or CVV number. If you have fallen victim to the scam, SHERPA Identity Theft Protection can help.

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