Fraud Alert: Scam Text Message

WARNING! New text message and phone scams in circulation claiming to be from your credit union or bank.

FraudSMART is advising consumers to be on alert for text message and phone scams currently in circulation claiming to be from your credit union or bank.

These are very convincing and sophisticated scams so please read the information below in order to protect your personal information and access to your credit union or bank account.

How does the scam happen?

  • You may receive a phone call and/or text message which creates a sense of urgency in relation to a ‘suspicious payment’ from your account or other security issue.
  • A text message may ask you to click on a link, call a number or even expect a call from their security team using a landline or private ID.
  • If you do click the link you may find yourself on a fraudulent online banking login page that mimics the real credit union or bank login page.
  • In some cases you may receive an authorisation code and be asked to input it on screen to ‘reactivate your account’ or ‘cancel a fraudulent payment’ – however this actually gives the fraudster access to your account.
  • If you receive a fraudulent call the number may mimic the genuine number of the credit union or bank. If you find yourself on a suspicious call, the fraudster will try to get personal, financial and security information.
  • The fraudster may imply that if you don’t act immediately, it will have negative consequences, for example, that money will be lost from your account.
  • The fraudster may even advise you to delete your mobile banking app ask you not to log into your credit union or bank accounts for a period of time. In order to make you believe this instruction

Warning signs:

  • A credit union or bank will never text/email/phone you asking for personal information.
  • A credit union or bank will never send you a link on a text message.
  • A credit union or bank will not ask you to delete your mobile banking app or to avoid logging into banking online.

How do I recognise a genuine text message from my credit union or bank?

  • If you receive a genuine text message from your credit union or bank alerting you to fraudulent activity on your account you may be asked to reply with a basic response such as ‘Y’ or ‘N’ to confirm if a transaction is legitimate. A credit union or bank will never ask you to click on a link or for personal information.

What should you do if you receive a suspicious text message?

  • Do not use phone numbers provided within the text of a text message. Contact your credit union or bank using the number on the back of your debit / credit card or your credit union or banks main contact number.
  • Do not reply to unsolicited text messages or provide personal or financial information.
  • Do not click on a link or attachment from unsolicited emails or text messages.
  • If someone is pressurising you on the phone to take urgent action, hang up and call the number on the credit union or bank of your debit / credit card or your credit union or banks main contact number.
  • Never give away personal information, credit union or bank debit card payment details, credit union or bank account details or security details such as your PIN or online password to anyone.
  • Block the sender of a suspicious email or text message and delete the message.
  • Contact your credit union or bank immediately, if you think you have responded to a scam text message or phone call.

Be Informed, Be Alert, Be Secure – Be FraudSMART