ONLINE ACCOUNT ACCESS | CALCULATORS

Fraud Prevention
To verify transactions or check your debit card for suspected fraud, call Card Member Security at 1.888.241.2440.

HOW FINANCIAL INSTITUTIONS WILL AND WILL NOT CONTACT YOU
Financial institutions (FIs) and the Internet: two things that seem to work together so beautifully. How simple is it to check your balance or pay a bill online these days?

At the same time, phishers have used this fact to commit millions of dollars worth of fraud and identity theft over the past decade. Is there a general rule to be derived here?

You can’t just say “never trust an email or a text from a financial institution,” because credit unions, banks and credit card companies definitely use email. Many people these day get their bills through email, and have stopped receiving paper statements years ago. Many FIs also offer services for mobile phones, from text message alerts to mobile banking applications for smart phones.

So how do you tell the difference between a real email and a phishing attack?

If an email or text message from a financial institution asks you to click a link to login and “verify” or “reactivate your account,” it is a phishing attack. Delete the message immediately.

FIs just don’t send these types of messages out.

When you open an account, your FI is required to get your personal information. They check this information against national databases to verify it. Once an account is open, they’ve got your information. There is no need to have you verify it online. Any verification is already complete.

Sometimes card companies may contact you regarding unusual activity on your card. This is a security feature. However, they also never ask you to verify personal information.

You may receive a call if suspicious activity occurs with your credit or debit card. An automated message will give the name of the card stating there has been some unusual activity. If you know where the card is, it says to press “1.” At no point will you have to verify personal information.

Of course, this also illustrates how important it is to keep your phone number, mailing address and other contact information current with any FI you have a relationship with.

In all honesty, if there’s fraud on your account, you will probably be the first to notice it. If someone has your account number and password, your credit union or bank probably won’t know the difference, since they can’t see who is sitting behind that computer. Someone with stolen credentials siphoning a few hundred dollars out of an account won’t even register as suspicious. They won’t contact you—you’ll be the one calling them, asking where your money went.

Finally, if you’re unsure whether or not an email message might be genuine, the way to find out is not to click on that link. Call your FI directly, using either a number from their actual website or by looking in an old fashioned phone book.

(fraudpreventionunit.org)