Member Alerts
Member
Security
This area of our website
is dedicated to the education of our members regarding
security issues that may impact their lives. Swindlers
utilize numerous methods to exploit others, but one
thing is certain: “If it sounds too good to be true,
it probably is!”
Listed below are some
links to ways in which you can protect yourself, your
family and friends. We will update this section on a
regular basis so please, check back for the latest
developments! If you can think of any other ideas that
may be useful, let us know (teucu@teucu.com).
We also discuss the latest scams on our Member Board, so
don’t forget to check there as well!
Online Banking Security
We want our members to be
confident when accessing your financial institution
online. While TEUCU uses multiple layers of protection
to increase your security while using TEUCU online
banking, here are some additional ways to protect
yourself while online.
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Install and use an
anti-virus program and keep it up to date. Always
use up-to-date anti-virus software that is capable
of scanning files and email messages for viruses,
worms and Trojan horses. This can help prevent your
computer system and files from being corrupted or
lost. A variety of anti-virus software packages are
available on the market today and many of these
products install anti-virus updates automatically,
as long as you have the update feature enabled.
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Use a personal firewall.
Any computer or device connected to the Internet
that is not properly protected may be vulnerable to
a variety of malicious Internet intrusions and
attacks. A personal firewall can help protect you
from intrusion because it creates a barrier between
your computer and the rest of the Internet. A number
of firewall solutions are available in the
marketplace today. They can be a hardware device, a
software application or a combination of the two.
Most firewalls can be set up to alert you if anyone
tries to access your computer system.
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Use strong encryption.
The stronger the encryption your Web browser uses,
the more difficult it is for intruders to intercept
your online activities. It is recommended that you
ensure your browser supports at least 128-bit
encryption.
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Use unique passwords and
change them regularly. Always choose unique
passwords that are difficult to guess. Use longer
passwords that have eight or more characters, mix
letters, numbers and special characters. These are
much more difficult to figure out than shorter, more
straightforward ones. Don't share your passwords,
use different passwords for different accounts and
remember to change them regularly.
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Keep security patches
up-to-date on your computer. After software has been
released, security holes or bugs that may have been
missed prior to its release are sometimes
identified. Most major software companies today
provide software patches or updates to address these
issues. It is important that you regularly visit
your software vendor's Web sites and stay informed
of any security related patches and updates they
provide. Evaluate these updates and install them as
necessary.
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Be aware of the risk
posed by installing software or files from unknown
sources. Avoid downloading programs and software
from sources you are not familiar with and don't
download or use pirated software. These programs may
contain viruses or other malicious code that could
cause harm to your computer or be used to steal
private or confidential information like account
numbers and passwords. These programs may also come
bundled with other programs that you may not be
aware of. Programs such as spyware and adware may
also be simultaneously installed on your computer
for the purpose of tracking and reporting on your
computing and browsing habits. It is important that
you read the terms and conditions that come with any
program or software carefully before installing it
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PIN Protection
With the popularity of ATM transactions
it is no surprise that thieves find it popular as well.
TEUCU would like you to remember this simple way to
protect yourself. The easiest way to protect yourself is
to protect your PIN. Never tell anyone your PIN, even if
they claim to be from a bank or the police. Don't keep a
written record of your PIN. Having a different PIN for
each card can provide an extra safeguard. Also, make
sure no-one sees your PIN when you use a terminal or
cash machine. If someone wants fraudulent access to your
account they need two things;
a copy of your card and the correct PIN. Any cloned
cards are useless without the correct PIN. Shield your
hands when entering your PIN. Keep in mind that there
are usually people all around you when you are in the
checkout line …any one of them could be working alone or
in conjunction with a partner to steal your valuable
PIN.
Never reveal your
PIN to anyone or you could be liable for losses.
This means:
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Don't
be tempted to jot your PIN down “just in case you
forget it”
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Never
tell anyone your PIN or let them enter it for you
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Enter
your PIN discreetly, just as you would when using a
cash machine. If you are asked to enter your PIN
into a handheld Chip and PIN terminal, don't feel
awkward about moving to a position where you won't
be overlooked |
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PINs
are only intended for use at a Chip and PIN terminal
or a cash machine. Never give out your PIN when
ordering by phone, post or online. Do not
voluntarily give your PIN to friends or family
members. |
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Always
keep your receipt when you make a Chip and PIN
payment. Mistakes are rare but it's wise to check it
against your statement later.
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Where
money is involved, a criminal won’t stop at
anything. |
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Always
keep possession of your Card.
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Avoid
all PIN combinations that may easily be determined
by others such as your anniversary, birthday phone
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You are responsible for the full amount
of all activity on your account completed through an
Electronic Banking Service resulting from:
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The
use of your card and/or PIN by you or any person to
whom you have made the card and/or PIN available
where you have not been the victim of trickery,
force intimidation or theft.
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Your
failure to notify us as soon as you become aware
that your PIN may have become known to someone else
or your card has been lost, stolen or misused.
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An
entry error or a fraudulent or worthless deposit
made through an Electronic Banking Service.
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In those cases you will be liable up to
your daily or weekly limits. Your liability may exceed
your account’s credit balance or available funds if:
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The
account is a line of credit account, has overdraft
protection or is linked with an account having some
or all of these features; or
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The
transaction is completed on the basis of an entry
error or a fraudulent or worthless deposit made
through an Electronic Banking Service.
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Notification of
lost or Stolen Card or PIN
You will notify us immediately if:
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Your
card is lost or stolen, or you suspect it is lost or
stolen, or if someone has used it other than
yourself. |
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Our
PIN has become known to someone else, or you suspect
it has become known to someone else.
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For more information, please see the
following links:
Protect your PIN, Protect your money!
(www.interac.ca/consumers/security_protect.php)
PIN Security Tips and Information (about
Interac shared services)
(www.interac.org)
Identity Theft
Identity theft is a
catch-all term for crimes involving illegal usage of
another individual's identity. While the term is
relatively new, the practice of stealing money or
getting other benefits by pretending to be a different
person is thousands of years old.
Identity theft occurs when someone uses your personal
information without your knowledge or consent to commit
a crime, such as fraud or theft.
Identity thieves steal
key pieces of personal information — either physically
or in other ways, without your knowledge — and use it to
impersonate you and commit crimes in your name.
In addition to names,
addresses and phone numbers, thieves look for:
- Social Insurance
Numbers
- Driver’s License
Numbers
- Credit Card and
Banking Information
- Bank Cards
- Calling Cards
- Birth Certificate
- Passports
Identity thieves can
manipulate your information and invade your personal and
financial life. They can use stolen identities to
conduct spending sprees, open new bank accounts, divert
mail, rent apartments apply for loans, credit cards and
social benefits, and even commit more serious crimes.
For more information
please see the following links:
Contact numbers to
report identity theft
Trans Union of Canada
Consumer inquiry number 1-800-663-9980
Fraud inquiry number 1-877-525-3823
Website: www.tuc.ca
Equifax Canada
Consumer/fraud inquiry number 1-800-465-7166
Website: www.equifax.ca
Experian Canada
Consumer inquiry number 1-888-826-1718
Fraud inquiry number 1-800-532-8784
Website:
www.experian.ca
Phonebusters (National
Call Centre)
Telephone number
1-888-495-8501
Fax 1-888-654-9426
Website:
www.phonebusters.com
E-mail for complainants
info@phonebusters.com
West African fraud letters/Nigerian letters
walf@phonebusters.com
Identify theft statements can be obtained from the
Phonebusters websites.
Recommendations:
- Check your bank
account activity on a regular basis.
- Never respond to
e-mails requesting your bank information / pin #.
- Renew your license
plates yearly opposed to two years at a time.
- Do credit checks
yearly with all credit bureaus.
- Consider title
insurance on your home.
Phishing
Phishing
is an attempt to criminally and fraudulently acquire
sensitive information, such as usernames, passwords and
credit card details from unsuspecting people by
masquerading as a trustworthy entity. EBay, PayPal and
online banks are common targets. Phishing is typically
carried out by email or instant messaging, and often
directs users to enter details at a website, although
phone contact has also been used. Phishing is an example
of social engineering techniques used to trick users.
Attempts to deal with the growing number of reported
phishing incidents include legislation, user training,
public awareness, and technical measures.
One way of acquiring this sensitive information is by
telephone solicitation. By falsely identifying
themselves as a real employee of a real financial
institution they try to gain your trust. They try to get
you to “confirm” information they have on file. They add
to the ruse by giving you the first few numbers of your
credit card or account. (Keep in mind that the first few
numbers are generally the same on everybody’s card or
account.) This causes unsuspecting victims to give out
the rest of their valuable information. Email phishing
works in exactly the same way. You receive an email
requesting you to confirm information or possibly it
directs you to a “secure” site to confirm more
information. These emails have graphics and text that
probably come from the true source and to an unwitting
victim there is no reason to suspect anything is amiss.
TEUCU members should know that TEUCU will NEVER solicit
you for personal or private information via email, phone
or online. If someone is requesting that you give out
personal information unsolicited by you, you should see
this as what it really is, a
red flag.
If you suspect that you have received a phishing email
from an institution, call up the real company with a
phone number you trust to find out what is going on.
Never reply to it. Delete it from your inbox. Remember –
why would anyone want to confirm information that they
already have? Something sure smells phishy!
Take action if you've
been a victim of Phishing
(www.antiphishing.org).
"The Phisherman and Little Red Riding Hood." ...a fun
and informative video.
Money Laundering
Money laundering is the
practice of engaging in financial transactions in order
to conceal the identity, source, and/or destination of
money, and is a main operation of the underground
economy.
Money laundering is the
process whereby criminals conceal illicit funds by
converting them into seemingly legitimate income. While
the term refers to the monetary proceeds of all criminal
activity it is most often associated with the financial
activities of drug traffickers who seek to launder large
amounts of cash generated from the sale of narcotics.
TEUCU is in compliance
with the Money Laundering Act.
Credit Rating
A credit rating assesses
the credit worthiness of an individual, corporation, or
even a country. Credit ratings are calculated from
financial history and current assets and liabilities.
Typically, a credit rating tells a lender or investor
the probability of the subject being able to pay back a
loan. However, in recent years, credit ratings have also
been used to adjust insurance premiums, determine
employment eligibility, and establish the amount of a
utility or leasing deposit.
A poor credit rating can
indicate a high risk of defaulting on a loan, and thus
leads to high interest rates or the refusal of a loan by
the creditor. Sometimes your credit can be affected by
fraudulent activity. Identity thieves can access your
personal information, obtain credit in you r name and
amass debt and even criminal charges in your name. If
you suspect that you are a victim you can help protect
yourself by adding a fraud alert to your credit file.
A fraud alert is a notice
added to your credit file that alerts creditors that you
may be a victim of fraud, including identity theft and
requires creditors using the file to take certain steps
to verify your identity prior to establishing any new
credit accounts in your name, issuing a new card on an
existing account, or increasing the credit limit on an
existing account, if requests for any of these actions
are made. The purpose of this notice is for the creditor
to confirm that the request is not the result of
identity theft. If the creditor cannot verify this, the
request should not be satisfied. There are two types of
fraud alerts: an initial fraud alert that lasts for 90
days, and an extended fraud alert that lasts for 7
years.
An initial 90 day
fraud alert indicates to anyone requesting your
credit file that you suspect you are a victim of fraud.
When you or someone else attempts to open a credit
account in your name, increase the credit limit on an
existing account, or obtain a a new card on an existing
account, the lender should take steps to verify that you
have authorized the request. If the creditor cannot
verify this, the request should not be satisfied. You
may also request one additional free credit file
disclosure.
An extended fraud alert is similar to an initial
90 day alert, except that it lasts for 7 years, and to
verify your request a creditor must contact you on the
telephone number(s) you provide to Equifax when you
requested the extended fraud alert. A valid police
report showing that you have been a victim of identity
theft is required to place an extended fraud alert.
Also, you may request two additional free credit file
disclosures, and your name is removed from prescreened
offers of credit or insurance for 5 years.
A good way to make sure that you are on the right track
in terms of a good credit rating TEUCU suggest that you
view your credit report at least once a year. You can
click on the links below for more information about
getting a copy of your own credit report.
Check your Credit Rating with Equifax Canada!
(www.equifax.ca)
Check your Credit Rating
with TransUnion Canada!
(www.tuc.ca)
E-mail Extortions (Vishing)
Vishing operates like
phishing by persuading consumers to divulge their
Personally Identifiable Information (PII), claiming
their account was suspended, deactivated, or terminated.
Recipients are directed to contact their bank via a
telephone number provided in the e-mail or by an
automated recording. Upon calling the telephone number,
the recipient is greeted with "Welcome to XYZ Credit
Union ……" and then requested to enter their card number
in order to resolve a pending security issue.
For authenticity, some
fraudulent e-mails claim the bank would never contact
customers to obtain their PII by any means, including
e-mail, mail, or instant messenger. These e-mails
further warn recipients not to provide sensitive
information when requested in an e-mail and not to click
on embedded links, claiming they could contain
"malicious software aimed at capturing login
credentials."
Please beware—spam
e-mails may actually contain malicious code (malware)
which can harm your computer. Do not open any
unsolicited e-mail and do not click on any links
provided.
419 Nigerian Scam
This scam usually begins
with a letter-form e-mail sent to many target recipients
making an offer that will result in a large payoff for
the intended victim. The stories behind the offers vary,
but the standard plot is that a person or government
entity is in possession of a large amount of money or
gold. This person, for myriad reasons, either cannot
access the wealth directly or is no longer in need of
it. Such people, who are fictional or impersonated
characters played by the scammer, could include the wife
of a deposed African or Indonesian leader or dictator, a
terminally ill wealthy person, a wealthy foreigner who
had deposited money in the bank just before dying in a
plane crash, leaving no will or known next of kin, a
U.S. soldier who has stumbled upon a hidden cache of
gold, a business being audited by the government, a
disgruntled worker or corrupt government official who
has embezzled funds, a refugee, and similar characters.
The money could be in the form of gold bullion, gold
dust, money in a bank account, so-called "blood
diamonds", a series of cheques or bank drafts, and so
forth. The sums involved are usually in the millions of
dollars, and the investor is promised a large share,
often forty percent or more, if they will assist the
scam character in retrieving the money from holding
and/or dispense of it according to the scam character's
wishes. The proposed deal is often presented as a
"harmless" white-collar crime, in order to dissuade
participants from later contacting the authorities.
Many operations are
professionally organized in Nigeria, with offices,
working fax numbers, and often contacts at government
offices. The victim who attempts to research the
background of the offer will often find that all pieces
fit perfectly together. Such scammers can often lure
wealthy investors, investment groups, or other business
entities into scams resulting in multi-million dollar
losses. However, many scammers are part of less
organized gangs or are operating independently; such
scammers have reduced access to the above connections
and thus have little success with wealthier investors or
business entities attempting to research them, but are
still convincing to middle-class individuals and small
businesses, and can bilk hundreds of thousands of
dollars from such victims.
The spam e-mails
perpetrating these scams are often sent from Internet
cafés equipped with satellite Internet. Recipient
addresses and email content are copied and pasted into a
web mail interface using a standalone storage medium,
such as a memory card. Many areas of Lagos contain many
shady cyber cafés that serve scammers; many cyber cafés
seal their doors during after-hours, such as from 10:30
PM to 7:00 AM, so that scammers inside may work without
fear of discovery.
During the course of many schemes, scammers ask victims
to supply bank account information. Usually this is a
"test" devised by the scammer to gauge the victim's
gullibility.
Scammers often request
that payments be made using a wire transfer service like
Western Union. The reason given by the scammer will
usually relate to the speed at which the payment can be
received and processed, allowing quick release of the
supposed payoff. The real reason is that wire transfers
and similar methods of payment are irreversible,
untraceable and, because identification beyond knowledge
of the details of the transaction is often not required,
completely anonymous.
How does the fraud
work? The bait is the fictional millions of dollars
described in an unsolicited email or letter. The goal is
to get you to come up with money for the "expenses"
required to transfer those millions to you. The victim
thinks, a few hundred or a few thousand dollars is
trivial when $31 million is at stake. Each demand for
more money is claimed to be the very last obstacle
before the big money is released. Sometimes, the victim
is lured to Nigeria, where even worse things happen.
If you receive such an
email, do not respond to it! Delete it from your inbox.
Always remember, if it sounds too good to be true; it
usually is.
Fake Cheques and Cheque Cashing
Scams
Fraudulent cheques and
money orders are key elements in many advance fee scams,
such as auction/classified listing overpayment, lottery
scams, inheritance scams, etc, and can be used in almost
any scam when a "payment" to the victim is required to
gain, regain or further solidify the victims' trust and
confidence in the validity of the scheme.
The use of cheques in a
scam hinges on a common practice concerning cheques;
when an account holder presents a cheque for deposit or
to cash, the bank must (or in other countries, usually)
make the funds available to the account holder within
1-5 business days, regardless of how long it actually
takes for the cheque to clear and funds to be
transferred from the issuing bank. The cheque clearing
process normally takes 7-10 days and can in fact take up
to a month when dealing with foreign banks. The time
between the funds appearing as available to the account
holder and the cheque clearing is known as the "float",
during which time the bank could technically be said to
have floated a loan to the account holder to be covered
with the funds from the bank clearing the cheque.
The cheque given to the
victim is typically counterfeit but drawn on a real
account with real funds in it. With a piece of software
like QuickBooks or pre-printed blank cheque stock, using
the correct banking information, the scammer can easily
print a cheque that is absolutely genuine-looking,
passes all counterfeit tests, and may even clear the
paying account if the account information is accurate
and the funds are available; however, whether it clears
or not, it will eventually become apparent either to the
bank or the account holder that the cheque is a forgery.
This can be as little as 3 days after the funds are
available if the bank supposedly covering the cheque
discovers the cheque information is invalid, or it could
take months for a business or individual to notice the
fraudulent draft on their account. It has been suggested
that in some cases the cheque IS genuine - however the
fraudster has a friend (or bribes an official) at the
paying bank to CLAIM it is a fake weeks or even months
later when the physical cheque arrives back at the
paying bank.
Regardless of the amount
of time involved, once the cashing bank is alerted that
the cheque is fraudulent, the transaction is reversed
and the money removed from the victim's account. In many
cases, this puts victims in debt to their banks as the
victim has usually sent a large portion of the cheque by
some non-reversible 'wire transfer' means (typically
Western Union) to the scammer. Some victims have even
been prosecuted for fraud in the scammer's stead, the
argument being that the victim "should have known
better" than to participate in such a scheme, and thus
was a willing conspirator in the fraud.
Some schemes are based
solely on cheque cashing. The scammer will contact the
victim to interest them in a "work-at-home" opportunity,
or asking them to cash a cheque or money order that for
some reason cannot be redeemed locally. A recently-used
cover story is that the scammer wishes the mark to work
as a "mystery shopper", evaluating the service provided
by MoneyGram or Western Union locations within major
retailers such as Wal-Mart. The scammer sends the victim
a cheque or money order, the victim cashes it, sends the
cash to the scammer and the scammer disappears. Schemes
based solely on cheque cashing will usually offer only a
small part of the cheque's total amount, with the
assurance that many more cheques will follow; if the
victim buys in to the scam and cashes all the cheques,
the scammer can win big in a very short period of time.
Other scams such as overpayment usually result in
smaller payoffs for the scammer, but have a higher
success rate as the scammer's request seems more
believable.
Some cheque-cashing
scammers involve multiple victims at multiple stages of
the scam. A victim in the U.S. or other "safe" country
such as the U.K. or Canada (often the country in which
the cashing victim resides) is sometimes approached with
an offer to fill out cheques sent to them by the scammer
and mail them to other victims who will cash the cheque
and wire the money to the scammer. The cheque mailer is
usually promised a cut of the money from the scammer;
this usually never occurs, and in fact the cheque mailer
is often conned into paying for the production and
shipping costs of the cheques. The cheque information
has either been stolen or fictionalized and the cheques
forged. The victim mailing the cheque is usually far
easier to track (and prosecute) than the scammer, so
when the cheques turn up as fraudulent, the one mailing
them usually ends up not only facing federal bank fraud
and conspiracy charges, but liability for the full
amount of the fraudulent cheques. Because the cheque
mailer is taking the fall, the scammer is even less
likely to be caught, which makes it a popular variation
of the scam for scammers in nations with tougher
anti-fraud laws and better enforcement than that of
Nigeria.
If you would like more
information about cheque fraud a great website to visit
is
www.fakechecks.org. This site is based in the U.S.
but there is plenty of useful information to keep you
well informed.
Shipping/Receiving Scam (Pet
Adoption)
Variant of a money scam
using pet adoptions, person will respond to an
advertisement for a pet. The buyer will then want to
immediately make arrangements to receive/ship the pet
(notice how they don't even ask to see pictures of the
pet, or ask for health/vet questions about the pet).
Buyer will ask seller to use their pet shipping service
and even give a number. Buyer will also want to send a
money order or cashiers cheque through Western Union
(another variant of the Western Union cheque scam). Once
the seller receives payment, cashes the cheque and/or
money order, the seller then sends the money to the fake
shipping service. Once money is received the buyer will
claim they changed their mind and want their money back,
or buyer will say he doesn't want the pet any longer.
Within 5 days the cheque or money order comes back as
bad and the seller is responsible for covering the bad
cheque.
Rental Scams
Where the victim (e.g., a
prospective tenant) is looking to rent accommodation,
the scammer will post a classified advertisement
offering a high-standard place for low cost, even
showing pictures of the said rooms. The victim is
required to pay a deposit, but once the scammer has
received the deposit he will disappear leaving the
victim out-of-pocket.
Where the victim (e.g.,
landlord) is looking to find a tenant for their
accommodation, the scammer poses as an interested party
who is looking to move to said location. On inquiry to
the prospective tenant, the victim receives a follow up
e-mail indicating they will be sent a cheque by the
tenant's new employer that will cover the rent, plus the
new tenant's living expenses (e.g., to purchase
furniture). The victim is asked to forward the
additional portion to their new tenant by Western Union
(or similar).
Where the victim posts on
a communal website (e.g. Craigslist) that he/she is
looking for a roommate to share a rental unit (or is a
landlord looking to rent a unit), and the scammer poses
as an interested party and sends a cheque to hold the
room. The cheque will originate from overseas. The
victim receives the cheque and deposits it into his/her
bank account, and that amount of money will temporarily
appear as having been added in. Within a few days the
scammer then contacts the victim and advises that he/she
cannot move into the rental unit due to an illness. The
scammer will even provide what appears to be medical
documents’ indicating this state of ill health. The
scammer then asks the victim to immediately wire
transfer the money from the cheque back to him/her. This
takes place, and then a few days later the victim finds
out from his/her bank that the original cheque has
bounced.
E-mail Viruses
Email is now the most
common way that viruses are transmitted between
computers. The most common mechanism for this is in the
form of an "attachment" to the message while sending
documents, images, and so on. However, it is also
possible for attachments to contain programs which run
when the attachment is opened.
The most basic steps to protect you against email virus
attack are:
Install anti-virus software and keep it up-to-date.
Don't open email attachments directly.
Although the latest
anti-virus software can detect virus-infected
documents "on-the-fly", it's safest to save email
attachments to disk first. (This applies even if
they come from someone you know — people you trust
can unwittingly distribute viruses.) You can then
perform an explicit virus scan before opening the
document.
Use a document viewer
to read received documents.
Enable Virus
Protection in Microsoft Office Components.
Microsoft's Office 97
and Office 2000 products include a macro-virus
protection option. However, it is possible for this
to get turned off. To check the current setting, use
the [Tools/Options/General] menu dialog in Office 97
programs and the [Tools/Macro/Security] dialog in
Office 2000.
Disable The Microsoft Windows
Scripting Host.
Recent versions of
Microsoft's Internet Explorer and Outlook email
client include the ability to run script programs
written in Microsoft's Visual Basic language. This
is a facility that has been exploited by viruses
such as the "Love Letter" virus. Disabling the
scripting host will give protection against this
form of attack.
Home Equity Line of Credit &
Loans Wire Fraud Scam.
High-dollar losses are
being attributed to a scam that targets credit union
members that have been granted large Home Equity Line of
Credit loans. (HELOC) The perpetrator sends a fax or
email to the financial institution requesting that they
process a funds/wire transfer. The perpetrator contacts
the local telephone company and impersonates the
consumer by stating that the home phone lines are in
disrepair. The fraudster then provides a cellular phone
number and asks that call forwarding be activated
immediately to avoid missed calls. Afterwards, all calls
made to the consumer’s home telephone are simply
re-directed to the criminal including the call made by
the financial institution attempting to verify the wire
transfer request. Wire transfer amounts are frequently
in excess of $100,000 and are sent to accounts with the
words “Title” or “Construction” in the account name.
Perpetrators seem to have detailed information about the
consumers that enable them to answer additional
challenge questions. It appears that US based credit
union members with a HELOC have been the primary targets
of this scam but it is highly possible that other
financial institutions have been experiencing similar
fraud scenarios.
Telephone
Credit Card Scams.
This is an email floating
around out there. Whether or not it is entirely true is
beside the point. We here at TEUCU think it sends a
great message. Protect your personal information!
This one is pretty slick since they provide YOU with all
the information, except the one piece they want. Note,
the callers do not ask for your card number; they
already have it.
This information is worth reading. By understanding how
the VISA &
MasterCard telephone Credit Card Scam works, you'll be
better prepared to protect yourself. The scam works like
this:
Person calling says, "This is (name), and I'm calling
from the Security and Fraud Department at VISA. My Badge
number is 12460, your card has been flagged for an
unusual purchase pattern, and I'm calling to verify.
This would be on your VISA card which was issued by
(name of bank). Did you purchase an Anti-Telemarketing
Device for $497.99 from a marketing company based in
Arizona?" When you say "No", the caller continues with,
“Then we will be issuing a credit to your account. This
is a company we have been watching and the charges range
from $297 to $497, just under the $500 purchase pattern
that flags most cards. Before your next statement, the
credit will be sent to (gives you your address), is that
correct?"
You say "yes".
The caller continues - "I will be starting a Fraud
Investigation. If you have any questions, you should
call the 1- 800 number listed on the back of your card
and ask for Security. You will need to refer to this
Control Number. The caller then gives you a 6 digit
number. "Do you need me to read it again?" Here's the
IMPORTANT part on how the scam works:
The caller then says, "I need to verify you are in
possession of your card". He'll ask you to "turn your
card over and look for some numbers". There are 7
numbers; the first 4 are part of your card number, the
last 3 are the Security Numbers that verify you are t he
possessor of the card. These are the numbers you
sometimes use to make Internet purchases to prove you
have the card. The caller will ask you to read the last
3 number to him. After you tell the caller the 3
numbers, he'll say, "That is correct, I just needed to
verify that the card has not been lost or stolen, and
that you still have your card. Do you have any other
questions?"
After you say no, the caller then thanks you and states,
"Don't hesitate to call back if you do", and hangs up.
You actually say very little, and they never ask for or
tell you the card number. We called back within 20
minutes to ask a question. Are we glad we did! The REAL
VISA Security Department told us it was a scam and in
the last 15 minutes a new purchase of $497.99 was
charged to our card. We made a real fraud report and
closed the VISA account. VISA is reissuing us a new
number. What the scammers want is the 3-digit PIN number
on the back of the card. Don't give it to them. Instead,
tell them you'll call VISA or Master Card directly for
verification of their conversation.
The real VISA told us that they will never ask for
anything on the card as they already know the
information since they issued the card! If you give the
scammers your 3 Digit PIN Number, you think you're
receiving a credit. However, by the time you get your
statement you'll see charges for purchases you didn't
make, and by then it's almost too late and/or more
difficult to actually file a fraud report.
What makes this more remarkable is that on Thursday, I
got a call from a "Jason Richardson of MasterCard" with
a Word-for-word repeat of the VISA Scam. This time I
didn't let him finish. I hung up! We filed a police
report, as instructed by VISA. The police said they are
taking several of these reports daily! They also urged
us to tell everybody we know that this scam is
happening. I dealt with a similar situation this
morning, with the caller telling me that $3,097 had been
charged to my account for plane tickets to Spain, and so
on through the above routine.
It appears that this is a very active scam, and
evidently quite successful.
Pass this on to all your family and friends.
Counterfeit $100 Notes Discovered:
Bank of Canada and the Toronto Police Service remind the
public and retailers to be vigilant.
The Bank of Canada and the
Toronto Police Service are reminding the public and
retailers to pay close attention to the bank notes they
receive. A number of counterfeit $100 notes have been
passed in the Greater Toronto Area in the last few
weeks.
"This incident reminds us that we must always remain
vigilant against counterfeiting," said Gerry Gaetz,
chief of banking operations at the Bank of Canada.
"Counterfeiting rates in Canada have declined by over 75
per cent since their peak in 2004, but counterfeiters
look for opportunities to pass notes where they can tell
people aren't checking them."
These $100 counterfeits can
be easily detected when compared with a note that you
know is genuine. All denominations in the latest bank
note series (those with the metallic stripe) have the
same security features. Once you know how to check the
features on one note, you know how to check any
denomination. It takes only minutes to learn how and
just seconds to check your money. Checking cash is a
quick and reliable deterrent to counterfeiting. Please
visit the bank of Canada’s website for more information
on how to spot a counterfeit bill at
www.bankofcanada.ca/en/banknotes. If you come across
a bank note you believe to be counterfeit, please
contact your local police. |
