frauds_scams - CPM Federal Credit Union

Scammers will steal your
information, money, and identity!
Don't fall for it!

Whether the purpose is to steal your money, personal information, or gain access to your bank accounts, becoming a victim of fraud can have serious consequences. It’s also a huge pain in the “you-know-what” to sort out and recover from. It’s important for you to know and we will repeat often. We will NEVER ask you to provide your account, personal, online banking, or card information. Falling for such traps may result in your account being compromised. If you are suspicious of any communication, STOP and contact us immediately at 800.255.1513.

To help prevent fraud before it happens, you need to know what to watch out for and how to avoid.

What are the most common fraud attacks and how do you spot them?

fraudster with a fishing pole over a computer try to phish for information

Phishing

What to Watch Out for:

Phishing is fake electronic messages (emails, social media, texts) where scammers pose as trusted sources (like your credit union) to get sensitive information.

How to Avoid:

Be skeptical of unexpected messages. Don't hesitate to say no or hang up if something seems off. Avoid opening unexpected links or attachments. Use strong, unique passwords and consider multi-factor authentication. Don't reuse passwords across accounts. Don't write down or store passwords in insecure places.

Malware

What to Watch Out for:

Malware is malicious software designed to harm your computer or steal your information. Fraudsters may steal sensitive data from your computer or ask you for a ransom payment to have your computer restored.

How to Avoid:

Be cautious when clicking on unfamiliar links or downloading attachments. Use reputable antivirus software and keep your operating system and applications up to date. Don't download software or files from untrusted sources.

Ransomware

What to Watch Out for:

Ransomware is a harmful software often delivered through phishing emails. It locks your data until a ransom is paid for access.

How to Avoid:

To stay safe, avoid unexpected links or attachments. Keep financial data on a separate, offline device. Shred physical documents with sensitive information. Properly wipe devices before disposal to prevent data theft. Never discard intact documents in trash or recycling.

phone with the words phone scam on the screen

Phone Scams

5 Ways to Safeguard Against Phone Scams:

Avoid answering unfamiliar calls.
Legitimate callers leave voicemails, especially businesses. Large retailers typically address issues through email rather than unsolicited calls.
Don’t trust your caller ID.
Spoofing by imposters and robocalls tricks you with fake names and numbers, often resembling local area codes. Exercise caution and refrain from saying hello if unsure.
Silence or block spam calls on your phone
Both Android and iOS offer features to filter or silence spam calls, automatically redirecting them to voicemail while retaining a record in your call history.

For iOS: Go to Settings > Phone > and turn on Silence Unknown Callers
For Android: Go to Settings > Caller ID & spam > and turn on Filter suspected spam calls

How can you protect yourself from fraud?

CPM has several ways to protect you.

It is important to be vigilant in protecting yourself. Thankfully, CPM has provided you with Card Controls and Account Alerts, putting the power back in your hands to stop a fraudster before they can ever get started.

Card Controls and Account Alerts allow you to:

Establish personalized transactional alerts. You will be notified immediately when a transaction takes place on your card or account. Take control by always knowing what you spend, how much, and where! Know when funds are moved between your accounts or there is an unexpected withdrawal. You will immediately identify fraudulent transactions.
Turn certain purchase functionalities on and off. For example, not a huge online shopper? You can turn of the ability to use your debit card for online purchases.
Take full control over your account by turning your card ON and OFF. Lost your card or suspect fraud? Stop the panic before it starts by simply swiping to block your card. You have full control over when you choose to turn your card back on or choose to simply request a new card.

Card Controls and Account Alerts can be easily accessed through your online banking. If you are not currently enrolled in online banking, we highly recommend you check out our highly rated online experience. Not only can you establish card controls and alerts, but you can also monitor your account balance and transaction history 24/7, 365 days a year. Learn more about Card Controls and CPM Anytime Online Banking.

Here are some other things you can do to help protect you and your hard-earned money

Multi-Factor Authentication

Set up in online banking. Each time you log on to CPM Anytime Online Banking, you will receive an one-time passcode

Set Up Alerts

Keep an eye on emails or text stating changes have been made on your account. CPM has set up alerts to help protect and alert you when key information like your email or phone number has been changed.