Fraud Alert or Fake? How to Tell if It’s Really From Your Credit Union
Stay alert! Scammers use fake fraud alerts to steal your information. Learn to spot red flags, protect your accounts, and avoid falling victim to bank impersonation scams.
If you’ve ever had fraud on your accounts, you’ve probably received a text saying there’s been “suspicious activity” and to reply if the purchase is legitimate or not. In these situations, your first instinct is to act fast to get the issue resolved. But what if that message isn’t actually from your financial institution? Scammers are now using this sense of urgency to trick you into giving up personal and financial information without thinking twice in what’s called a “Bank Impersonation Scam”.
How These Scams Work
Scammers are pros at making their messages look like they come from your credit union. Before you even receive a fake fraud alert, scammers first research your online history to learn your past addresses, Social Security Number, or last four digits of your bank account and card numbers.
Once they have your information and you receive an alert, it may look something like this image.
If you respond to any of these prompts, the scammers will then try to call you by spoofing the 1-800 number from your financial institution—making you think it’s really your credit union calling. They’ll then claim they work for the financial institution's fraud department and that there is potential fraud on your debit or credit card.
While this image may look very similar to a legitimate fraud alert from your credit union, remember that your financial institution will never call you after sending an alert and ask for things like your online banking password, PIN, or card CVV. You will also never receive a fraud alert from a regular 10-digit phone number. Legitimate fraud alerts from FAIRWINDS will always be from a 5-digit short code number.
How to Spot This Scam
Here are some additional red flags that can help you tell if a fraud alert you receive is a scam…
They ask for personal information — FAIRWINDS will never ask for online banking passwords, PINs, or card CVV numbers.
You’re given a tight deadline — Any message that says your account will be locked or erased if you don't act quickly, is a scam. They might say your account will be locked or erased in 24 hours unless you act immediately. The urgency is meant to scare you into acting without thinking.
Unfamiliar emails or numbers — Scammers often use email addresses or phone numbers that don’t match your bank’s official contact information. Always double-check before responding.
Poor spelling and grammar — Many scam emails or texts contain misspelled words or odd phrasing. This is a sign it’s not from your credit union.
How to Protect Yourself
Luckily, there are several things you can do to avoid falling for a Bank Impersonation Scam:
Never click on links — If you receive an email or text from your financial institution asking you to click on a link, don’t do it. Instead, visit your credit union's website by typing the URL directly into your browser.
Call your credit union directly — If you're suspicious of a message or call, hang up and call your credit union using the number on their official website. Don’t use any numbers provided in the suspicious message. The FAIRWINDS official phone number is (800) 443-6887.
Never give out confidential financial information — Remember, FAIRWINDS will never ask for your online banking password, PIN, or card CVV through a call or text. If someone asks for this information, it’s a scam.
Ignore unknown messages — If you get a text or email from someone claiming to be your credit union but you weren’t expecting it, don’t respond. Even replying “STOP” can let scammers know your number is active, which could lead to more scams.
Be cautious of unexpected phone calls — If someone claiming to be from your financial institution calls you and you’re unsure, hang up. Scammers could be calling you from a spoofed phone number that appears to be from your credit union. Call the official number you know to be correct and do not redial the number from what could be a scammer.
By staying alert and following these steps, you can protect yourself from Bank Impersonation Scams. Remember, if something doesn’t feel right, it probably isn’t. It’s always safer to double-check with your financial institution. Visit our Fraud Center for more advice on recent scams and how you can keep your personal and financial information safe.