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News Now

CU System
'Vishing' scams making the rounds again
MADISON, Wis. (3/11/14)--Some credit unions are reporting that their members are being targeted with phone calls and voice messages that claim their debit or credit cards have been compromised.
 
The scam, called "vishing," includes automated messages that prompt the members to enter confidential information such as the card number and PIN.
 
Fort Atkinson (Wis.) Community CU was targeted last week, according to Sue Johnson, senior vice president of the $196 million-asset credit union (WMTV-15 March 7).
 
The credit union's fraud department reacted quickly, resulting in only a few members being affected. Even those affected have no liability for the fraud losses, stressed Johnson.
 
Financial Builders FCU, $70 million in assets, also reported fraud incidents. The Kokomo, Ind., Police Department said scammers are falsely representing the credit union, purportedly informing members that their cards have been deactivated (Kokomo Perspective March 10).
 
The police also told consumers that if they did provide their information to these callers, they should call their credit union or other financial institution in order to protect their card.
 
Johnson reminded consumers that financial institutions will never ask for this type of confidential information over the phone.
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