Fraud Alert: CU Impersonation and Phone Number Spoofing

New fraudulent activity involving a Maine credit union has been brought to our attention and we want to put you on alert. In this latest scam, fraudsters are posing as credit union employees to obtain critical information from your members.

Fraudsters are calling credit union payment call centers and asking that an exemption be put in place to override a country block. To override a block, a one time passcode (OTP) must be sent via email or text to the phone number or email address on file.

After a code has been sent, fraudsters call the member using a spoofed phone number and claim to be a representative from the member’s credit union. They inform the member that they are trying to prevent fraud on their account and have sent them a code via text or email to protect their information. The fraudster then asks the member to share the code with them to confirm receipt.  Once in hand, the OTP provides the fraudsters a gateway to access the member’s card number.

Although OTP remains one of the most secure methods for member verification, here are additional steps you can take to protect against this type of fraud:

  • Remind your employees of the extremes fraudsters will go to steal member information, including impersonating credit union employees.
  • Be vigilant with daily audit reports to track user and member activity.
  • Remind members:
    • The credit union will never contact them or request personal information.
    • Members should monitor activity on their accounts regularly.
    • To keep information on their accounts current for proper identification purposes.
    • To never share an OTP.

Protecting your credit union and your members against fraud is our highest priority and we will continue to keep you informed about new activity.