Credit Union How to Identify Text Messages and Avoid Scams

If you're a credit union member, you've probably received a text message that seemed too good to be true. One such message might claim your account is locked due to suspicious activity and ask you to click a link or provide sensitive information.

Credit unions often use text messages to communicate with members, but scammers also use this method to steal your money and personal info. Be cautious of messages that ask you to verify your account or provide login credentials.

A genuine text message from your credit union will usually include your name and account number, so take a close look at the sender's info. If the message is missing this crucial info, it's likely a scam.

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Legitimate credit unions will never send you a text message with a 10-digit phone number. They use six-digit numbers to send alerts.

Be cautious of messages that express urgency and contain unusual punctuation or spelling and grammatical errors.

Scammers often pose as banks or credit unions, claiming to be from their "fraud prevention" department. They'll ask you to click a link or call a provided number to verify your identity.

Urgent or threatening language is a common red flag. Scammers create a sense of urgency or fear to manipulate recipients.

Legitimate organizations usually maintain professionalism in their communications, so be wary of messages with spelling and grammar errors.

Here are some red flags to watch out for:

If an unexpected text request seems unusual, it's worth evaluating the content and context and using common sense. Identifying red flags in a message is the first step in protecting yourself against scams.

In 2022, roughly $330 million in losses were reported to the Federal Trade Commission's (FTC) Consumer Network as a result of text scams.

Scammers often pose as banks or credit unions, claiming to be from their "fraud prevention" department. These urgent messages about suspicious account activity or pending transactions instruct you to click a link or call a provided number to verify your identity.

Legitimate financial institutions will never request that you enter sensitive personal or financial information through text messages or by clicking a link. They might send you alerts to verify unusual transactions, but you'll never be asked to provide sensitive info.

To shield yourself from smishing, consider these precautions when you receive an unusual message:

Smishing, a fusion of "SMS" (Short Message Service) and "phishing", refers to the act of using text messages to deceive recipients into revealing personal information or downloading malicious content.

Text message scams are a common threat, but you can protect yourself by staying cautious and reporting suspicious messages. Remember to verify the sender's identity by contacting your credit union directly using information on their website.

To avoid falling victim to an impersonation scam, think before you click: avoid clicking on suspicious links or downloading files from unknown senders. Never disclose sensitive information like account numbers, passwords, or Social Security numbers via text message, regardless of the urgency of the request.

By familiarizing yourself with the common signs of a fake text claiming to be from your credit union, you can prevent yourself from falling victim to this scam.

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Be cautious of suspicious links and files from unknown senders, as clicking on them can lead to scamming. Think Before You Click: Avoid clicking on suspicious links or downloading files from unknown senders.

Verify the sender's identity by contacting your credit union directly using information on their website, especially if a text claims to be from them. Verify the Sender: Verify the sender's identity by contacting your credit union directly using information on their website.

Never disclose sensitive information like account numbers, passwords, or Social Security numbers via text message, regardless of the urgency of the request. Don't Share Personal Information: Never disclose sensitive information like account numbers, passwords, or Social Security numbers via text message, regardless of the urgency of the request.

Report suspicious texts to create a safer online community. Remember to stay cautious, report suspicious texts, and share this information with friends and family to create a safer online community.

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Stay skeptical and err on the side of caution when it comes to financial matters. By familiarizing yourself with the common signs of a fake text claiming to be from your credit union and adopting proactive measures to verify the legitimacy of messages, you can prevent yourself from falling victim to this scam.

Phishing and smishing are becoming increasingly common, with scammers using texts to trick you into giving away personal information. They might ask you to verify purchases, claim issues with your payment information, or offer prizes or gift cards.

Some common tactics used by scammers include sending fake package delivery notifications and warning you of suspicious activity on one of your accounts. These tactics are often similar to texts you might receive from legitimate businesses, making it hard to tell the difference.

If you click the fake link, you might be asked for personal information or get malware installed on your phone that can extract information automatically. The link might also lead to a fake version of a website where you are asked to enter your password.

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Fraudsters may also call you impersonating your financial institution or other trusted source, asking for personal information or passcodes. Always be wary of incoming calls asking for sensitive information.

Here are some common tactics used by scammers in smishing:

Don't be fooled by a familiar area code - smishers can use tools to make it look as though the text is from a local number. This can make it harder to spot a scam, but it's still a red flag.

Don't click links in text messages. Links are often used to install malware or keyloggers - software that tracks what you type. If you've clicked a link by mistake, consider installing an antivirus app to scan your device.

Don't respond to a suspicious text message. Like website links, text responses can be used to verify your phone number and gain access to your personal information. Some financial institutions do use text messages to verify suspicious purchases, but those texts will never request personal information.

Here are some common tactics used by smishers to trick you into sharing sensitive information: