Types of Fraud

Phone Number Spoofing:  

Scammers can fake caller ID information to mimic the information of a legitimate organization, like Tech CU, in order to trick people into trusting the caller.

Note: Tech CU will NEVER call you and ask for Online Banking credentials, Mobile Banking credentials or the One Time Passcode sent to your cell phone or email.

NEVER give out any personal information to numbers or people you don't know. If you're not certain whether a call from Tech CU is legitimate, hang up and call us at (800) 553-0880 or (408) 451-9111 to verify the call was really from Tech CU.

Remember, scammers can be persuasive or urgent when calling, so be smart about providing them information.

Identity Theft  

What to do if you believe you are a victim of Identity Theft:

• Contact Tech CU as soon as possible either via phone or in branch.
• Go to IdentityTheft.gov and follow the instructions.
• Review account details (including phone numbers and email addresses) and credit reports.
• Renumber accounts that have been tampered with or close out fraudulently opened accounts.
• Dispute any unauthorized transactions with your financial institutions.
• Contact a Credit Bureau to file a fraud alert on credit reports.
  Note: When you place a fraud alert with one credit bureau, the others will be notified.
• Change passwords for online or mobile accounts.
• Contact your Internet Service Provider (ISP) to notify them if your device was potentially compromised and have them scrub your devices for any potential threatening software.
• If you believe you are a victim of identity theft, you should consider whether your physical mail may have been stolen or whether malware has been placed on your personal electronic devices. We highly recommended that you have your computer checked out professionally by a local malware service provider if you had unauthorized access to your emails, banking accounts, or any other personal sites. Other things to look out for are unusual emails you did not conduct and moving or freezing icons when logging onto financial websites. These are typical signs of malware on your computer that fraudsters use to access your financial records.

For more information on business identity theft:

Visit the FBI’s cyber investigations website www.fbi.gov/investigate/cyber for details on how to protect yourself.

Avoid Identity Theft:

• Use Tech CU Online and Mobile banking to check your transactions frequently.
• Report any discrepancies that you see on your account to Tech CU immediately.
• Shop at reputable sites.
• Keep your devices up to date with virus and software protection.
• Create strong passwords that are not easily identifiable.
• Don’t carry confidential information with you.
• Do not provide confidential information (SSN, PIN, login credentials, etc.) to any unexpected callers, even if they appear to be from Tech CU.
• Contact Tech CU if you have any questions about your account.

EFT (Electronic Funds Transfer) Fraud  

EFT payments are an alternative payment solution that allow individuals and businesses to take payments quickly.

Note: EFT fraud attacks usually start with a phishing email or Phone Call.

Some ways to protect yourself:

• Only send EFTs to reputable individuals or businesses.
• Don’t provide your account information to someone you don't know.
• Keep your devices up to date with virus and software protection.
• Create strong passwords that are not easily identifiable.
• Don’t carry confidential information with you.
• Do not provide confidential information if you have not initiated the call (SSN, PIN, etc.).
• Contact Tech CU if you have any questions on your account.

Wire Transfer Fraud  

Wiring funds is just like sending cash, so when wiring money please:

• Only send wires to reputable individuals or businesses.
• Don’t provide your account information to someone you don't know.
• Don’t agree to deposit a check from someone you don't know, then wire back money.
• Don’t wire money to strangers, including:
  • A seller who requests a wire transfer payment.
  • An online love interest who asks for money.
  • A person advertising an apartment or vacation rental online.
  • A new employer or for a new online job.
  • Someone who claims to be a relative or friend in dire straits.
  • In response to an unsolicited email job offer or business opportunity.
• Keep your devices up to date with virus and software protection.
• Create strong passwords that are not easily identifiable.
• Don’t carry confidential information with you.
• Do not provide confidential information if you have not initiated the call (SSN, PIN, etc.).
• Contact Tech CU if you have any questions on your account.

Preventing Digital Wallet Fraud  

Here are some steps you can take to prevent digital wallet fraud.

• Source verification: Exercise prudence when downloading digital wallet apps. Only acquire apps from trustworthy sources, such as official app stores.
• Enhanced authentication: Use available security features within digital wallet apps. Enable PIN or Facial Recognition authentication.
• Network consciousness: Public networks are fertile ground for hackers to intercept data. Whenever possible, utilize secure and private networks to mitigate potential data interception.
• Regular monitoring: Consistently monitor your bank accounts and credit card statements for any suspicious or unauthorized activities.

Avoiding Gift Card Scams  

Common Gift card Scams

• Scammers say they are from the government. They say they are from the IRS, the Social Security Administration, or even the FTC. They say you have to pay taxes or a fine.
• Scammers say they are from tech support. They say they are from Microsoft or Apple and there is something wrong with your computer. They ask for remote access, and say to pay them to get it fixed.
• Scammers say they are a friend or family member with an emergency. If the scammer uses voice cloning, they may even sound just like your loved one. They ask you to send money right away, but not tell anyone.
• Scammers say you have won a prize. They tell you to pay fees or other charges with a gift card.
• Scammers say they are from your utility company. They threaten to cut off your service if you do not pay immediately. Utility companies do not work that way.
• Scammers ask for money after they chat you up on a dating website. Romance scammers will make up any story to trick you into buying a gift card to send them money.
• Scammers send a check for more than you expected. They tell you to deposit the check and give them the difference on a gift card.

What To Do If You Gave a Gift Card to a Scammer

If you bought a gift card and gave someone the numbers off the back of the card, that’s a scam. Use your gift card and gift card store receipt for these next steps:

• Report the gift card scam to the gift card company right away. No matter how long ago the scam happened, report it.
• Ask for your money back. Some companies are helping stop gift card scams and might give your money back. It’s worth asking.
• Tell the FTC at ReportFraud.ftc.gov. Every report makes a difference.

Employment Scams  

Scammers advertise jobs the same way honest employers do — online (in ads, on job sites, and social media), in newspapers, and sometimes on TV and radio.

Most Employment Scams utilize fake checks from your new employer, the employer then asks you to send some money back due to “overpayment,” but the check will ultimately bounce, and the bank will want you to repay the full amount of the fake check.

Common Employment Scams include:

• Work-from-home job scams
• Nanny, caregiver, and virtual personal assistant job scams
• Mystery shopper scams
• Job placement service scams
• Government and postal jobs scams

How To Avoid a Job Scam

Before you accept a job offer, take these steps to avoid common job scams:

• Search online. Look up the name of the company or the person who’s hiring you, plus the words “scam,” “review,” or “complaint.”
• Talk to someone you trust. Describe the offer to them.
• Don't pay for the promise of a job. Honest employers, including the federal government, will never ask you to pay to get a job.
• Never bank on a “cleared” check. No honest potential employer will ever send you a check to deposit and then tell you to send on part of the money or buy gift cards with it.