Credit Union Customers Targeted with Latest Scam

by Heather Wells (Recovery Advocate)

What could be worse than having your bank account or good credit history hijacked around the holidays? Picture yourself at the register attempting to pay for gifts using your debit card and being told that there are insufficient funds in your account. Or imagine checking your credit reports only to discover dozens of new maxed out lines of credit that you did not know about.

The identity thieves are getting increasingly clever with their scams. They have realized that consumers are becoming less willing to respond to “phishing” emails that direct them to decoy websites asking for personal banking information or a social security number. Most folks delete these sorts of emails suspecting foul play, which is the smart thing to do. The newer version of this phishing scam is known as “vishing,” or “voice phishing.”

An article from consumeraffairs.com dated December 3, 2007 states that “sophisticated criminals now send emails instructing consumers to call a telephone number instead of clicking on a link. This tactic, known as ‘vishing’ can be especially effective because consumers who encounter a live person are much more likely to let down their guard.”

Read more from the article and view a recently circulated vishing email here.

Consumers who receive one of these bogus emails should contact their credit union directly by using the phone number on their monthly statement or by obtaining the number from the financial institution’s official website. It’s also a good idea to report this scam to the Federal Trade Commission at http://www.ftc.gov/.