Credit/Debit Card Scams

Recently, scams involving credit and debit cards are on the rise and we want our members to be aware of these scams and how they can best protect themselves. Scammers are posing as a credit card or financial institution representative, often from Seattle Credit Union’s “fraud department.” These scammers can trick members into providing sensitive account or card information, including but not limited to online banking username, account number, PIN, security codes (specifically those sent from ‘forgot password’ or other push notifications), or additional personal information like Social Security or driver's license numbers. 

How it works:

• A member receives a phone call from someone who typically works in the “Security and Fraud Department.”
• Then, the scammer describes a hold or flag on suspicious activity within the member’s account and asks they verify their account or card.
• Often, the fraudster is waiting online for login information. They say they’re going to send a push notification to the member’s phone but what they are really doing is clicking on “forgot password.” The member then provides the code, and the scammer proceeds to login and change everything. 
  • They may even ask the member to verify certain card information, like the CVV number and first four of the card.

Other types of information they may share or request:

• Being told they have won a prize or sweepstakes and need to take steps to receive it, such as sending money for taxes and insurance before receiving the prize.
• Use of scare tactics, such as claiming a loved one is in danger, or that they may be arrested if they do not take immediate action.
• Asking to pay using money transfers, cryptocurrency, or gift cards.
• Promises to recover money lost in other scams, for a fee.
• Demanding taxes be paid without giving the opportunity to question the amount owed.

One of the sneakiest pieces to this scam is that the scammer may already have investigated the member’s social media accounts or other public information, which might reinforce to the member that it’s a legitimate call.

Remember, Seattle Credit Union will never call and ask for your username, password, etc. If anyone does contact you and ask for these things, hang up immediately and do not provide any information. Call Seattle Credit Union directly, using the phone number on our website, if you ever have any concern about the legitimacy of a call.

For more information about scams and protecting yourself against fraud, visit our Fraud Prevention page.