Updated: April 9, 2020
Unfortunately, fraudsters are taking advantage of the pandemic situation by targeting Debit Cards—tricking consumers into sharing confidential information. A phone scam is increasingly being reported around the country and locally. The goal of the scam is to dig for the details that will enable them to make large withdrawals from your checking account.
How the phone call starts
Essentially, you receive a phone call with the caller pretending to be with your bank or credit union’s (for example, the University of Hawaii Federal Credit Union) fraud department. The caller is likely using a “spoofed” phone number, so the incoming number looks like it’s coming from the institution.
The scammer 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 confidential banking information.
How to identify major red flags of a scam
It’s not always easy to identify a phone call as a scam. Successful scammers are persuasive and will use many tools to appear legitimate. But when it comes time to gain the information that they need from you, there are some common major warning signs.
- 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.
- The caller asks you to provide your Online Banking ID or password.
- The caller asks you to provide your card or CVV number.
Approach incoming calls with caution
Even if you think you will never fall for a scam, always be protective with information that you provide to an incoming caller. UHFCU will never initiate contact with you by phone, e-mail, text, or through social media outlets to ask for your personal or financial information.
One simple step you can take to protect yourself is to hang up and call us back at a number you know and trust—such as the phone number provided on the back of your Debit or Credit Card or on your account statement. Do not redial from the incoming call or use any other number provided by the caller.
Set up Online & Mobile Banking alerts
You should always be cautious and review your accounts on a regular basis. With that being said, it’s a great opportunity to take advantage of real-time account alerts within Online Banking and Mobile Banking. That way, you’ll be notified of any activity on your accounts quickly.
Also, the best way we can serve you is by having your current e-mail and mobile phone number in case we need to get a hold of you.
Contact us with any questions or concerns
If you have any questions about this information, we encourage you to speak with a UHFCU representative to learn more. If you suspect that you may have given information to a possible scammer, it is important to contact us so we can take measures to help you protect your information and account.