Fraud Alerts

Recent Scams

Federal Reserve Board Solicitation Scam

August, 2009 -- The Federal Reserve Board on Wednesday warned consumers about fraudulent solicitations that appear to be made with the approval or involvement of the Federal Reserve, Federal Reserve officials, or other U.S. government officials. These solicitations promise bogus financial services or large sums of money in exchange for either payment or personal information that can then be used to access a consumer's bank account.

The Federal Reserve is advising consumers that it has no involvement in these solicitations. Consumers are strongly urged to verify the legitimacy of potential service providers before entering into a business transaction. Individuals seeking help with repairing their credit history, avoiding home mortgage foreclosure, finding mortgage refinance options, or managing their credit card debt should do business only with reputable service providers. Information related to these issues may be found on the Federal Reserve Board's website at: http://www.federalreserve.gov/consumerinfo.

“Smishing” Scam Targets Credit Unions via Text Messaging

January, 2009 -- Fraudsters are now sending text messages to Credit Union and other financial institution members' wireless devices to lure them into giving personal information. Because wireless devices use SMS, a communications protocol, to send text messages, this is called "Smishing."

Credit unions across the country are reporting that their member’s are receiving unsolicited text messages. It’s an attempt at Smishing, the latest form of phishing. In Smishing, an e-mail tries to lure a recipient into giving personal information via text messages to a wireless device. The recent scam is targeting credit union and other financial institution members.

In smishing, the members receive a text message via cell phone warning that their bank account has been closed due to suspicious activity. It then tells them they need to call a certain phone number to reactivate the account.

The unsuspecting callers who dial the number provided in the text message will be taken to an automated voice mail box that prompts them to key in their credit card or debit card number, expiration date, and PIN to verify their information.

IRS Alert

When the Mission Fed learns about financial schemes, we alert our members to the possible fraud attempts. The most recent schemes are listed below as reported by the IRS:

April, 2008 -- Some people have received phone calls about the economic stimulus payments, in which the caller impersonates an IRS employee. The caller asks the taxpayer for their Social Security and bank account numbers, claiming that the IRS needs the information to complete the processing of the taxpayer's stimulus payment. In reality, the IRS uses the information contained on the taxpayer's tax return to process stimulus payments, rather than contacting taxpayers by phone or e-mail. [Added April 21, 2008.]

An e-mail claiming to come from the IRS about the "2008 Economic Stimulus Refund" tell recipients to click on a link to fill out a form, apparently for direct deposit of the payment into their bank account. This appears to be an identity theft scheme to obtain recipients' personal and financial information so the scammers can clean out their victims' financial accounts. In reality, taxpayers do not have to fill out a separate form to get a stimulus payment or have it directly deposited; all they had to do was file a tax return and include direct deposit information on the return. [Added April 21, 2008.]

If you have a question concerning your account or credit/debit card, contact Mission Federal Credit Union immediately. Mission Federal Credit Union will not contact you via text messaging regarding your account and suspicious activity.

Phishing & Spoofing Prevention

• Never click on the link provided in an email you don’t fully trust. Remember, sometimes your friends and family get “spoofed” and generate emails that propagate viruses to other computers.
• Do not open an attachment to an unsolicited email, unless you have verified the source, and you are comfortable that the source actually sent it.
• Do not be intimidated by an email or caller who suggests dire consequences if you do not immediately provide or verify information. Remember, Mission Federal Credit Union never asks members for ATM passwords or MissionLink/MissionLine account access codes.
• If you believe the contact is legitimate, go to the company’s website by typing in the site address directly or using a page you have previously book marked, instead of a link provided in the email.
• Use the FTC (Federal Trade Commission) website, onguardonline.gov to learn more. Consumers can take interactive quizzes designed to enlighten them about identity theft, phishing, spam and online-shopping scams. Elsewhere on the site, consumers can find detailed guidance on how to monitor their credit histories, use effective passwords and recover from identity theft.

Fraud Protection

Protect your card from online fraud with Verified by Visa

Verified by Visa... the “free and easy” way to enjoy added security for all your online Visa card purchases. Your personal password becomes your on-line signature. Click here to register.

Verified by Visa protects your existing Visa card with a personal password, giving you reassurance that only you can use your Visa card online.

Your Verified by Visa password helps ensure that only you can use your Visa card number to buy online.

Your Card is Automatically Recognized

Once your card is activated, your card number will be recognized whenever you purchase at participating online stores. You'll enter your password in the Verified by Visa window, your identity will be verified, and the transaction will be completed. In stores that are not yet participating in Verified by Visa, your Visa card will continue to work as usual. Look for the Verified by Visa symbol displayed at many participating stores.

If you have concerns regarding possible fraud or phishing attempts, please contact Mission Fed at 800.500.6328.

Identity Theft Security: How to Protect Yourself