Avoiding Scams

Fraudsters are forever coming up with new schemes to steal your money, your personal information or identity; here are some recent methods that have been trending over the last few months.

Fake fraud alert scam: First, scammers will call stating there is potential fraud from Target, Walmart or similar stores on the member’s debit or credit card. Next, the member will receive a text message that states where and when the fraud took place. Third, the member is prompted to press “Y for valid” or “N if unauthorized,” and then guided to put in the CVV number from their card. If you find yourself in this situation, immediately hang up, and do not enter your CVV number. This is a fraud attempt. Remember, never click on links provided in unsolicited text messages or emails. Cascade Community Credit Union does send out fraud alerts for suspicious actions on your card, however we will never ask for a CVV, PIN number or other personal information to verify fraud.

Online Banking Copy Cat Scam: After sending a text message with a link to a site that looks like your online banking home page, fraudsters hope that you will enter your login information. This way, they can store your information to login to your real account. Always use your app, or type in the correct url for online banking using your desktop. 

Apple Pay or Samsung Pay activation scam: A scammer will call, text or email with a code asking a member to activate Apple Pay or Samsung Pay. The scammer will guide the member to provide them the code which gives access to the member’s debit or credit card via Apple Pay or Samsung Pay. Remember, never give out any codes when activating your account. Cascade Community Credit Union will never need this information.

CCCU Fraud services scam: Members are receiving phone calls from a scammer who says they are from CCCU Fraud services. The scammer then asks for personal information such as account number, CVV number, PIN number and other personal information. If you receive a call from anyone asking for this information, immediately hang up. Cascade Community Credit Union will never initiate a call to any member asking for personal banking information.

The good news about most types of credit card fraud is that consumers are typically not on the hook. Thanks to protections in the Fair Credit Billing Act (FCBA) and Electronic Fund Transfer Act (EFTA), most of the time consumers are limited to $50 in liability for fraudulent charges, although most credit cards come with $0 fraud liability policies. See your Account Disclosures for more information about Member Liability and how and when to report a fraud on your accounts.

 

Other ways to avoid being a victim of scams that can collect your card information?

  • Avoid clicking on links from unknown senders in texts and emails.

  • When online shopping use stores or websites with an established history. Look for the “padlock” on the address bar. You can click on this to verify it is secure and the company associated with the address.

  • Set up multi-factor authentication on accounts.

If you think you’re the victim of a credit card scam or your information has been compromised, notify CCCU as soon as you can. Our dedicated team can freeze your account or cancel your card immediately.

We work with our members during stressful times such as these, to help you get your money back and launch an investigation into the fraudulent activity.

Canceling your card may not be enough as some of your information may have been compromised as well. Keep a close eye on your credit reports to ensure no one is fraudulently claiming your identity and opening fake accounts or utilizing other accounts fraudulently.

Cascade offers fraud alerts for members who have a Cascade Community Credit Card. Through our fraud alert system, you will be notified immediately if suspicious charges occur on your account and will be given the option to accept the charge or deny it and freeze your card. This is a round-the-clock service that gives you control over protecting your finances at CCCU. You will know these are safe communications from our institution because they do not ask you to provide any personal information.

This is just one of the many ways we work to offer you security and peace of mind when it comes to your financial well-being. If you have any questions about your card security, you can give us a call or send us a message today!