Fraud Alert – Scammers Impersonate Financial Institution Employees

At MC Federal Credit Union, we are committed to providing you with the knowledge you need to keep your account and personal information safe. We have been informed of a scam that impacted several financial institutions in our area. A sophisticated network of fraudsters posed as employees and used spoofed financial institution phone numbers to scam consumers. The fraudsters were able to deceive consumers into providing their personal and financial information, including online banking credentials and debit card numbers, which were then used to steal their funds. At this time, the reported loss is at least $1.8 million, and that number is expected to grow. The theft ring involved upwards of 11 individuals who then utilized social media to enlist additional participants. Those participants provided their account numbers or purchased gift cards in an attempt to mask the illegal activity in exchange for a share of the profits.

The structure of this scam is not unusual. It began with unsolicited contact. The scammer gained the consumers’ confidence by impersonating a trustworthy individual, in this case, an employee of the financial institution. Confidential personal and financial information was provided to the fraudster resulting in the loss of hard-earned funds.

We want to remind you of these helpful tips that can be used to keep your information safe:

  • Always be suspicious of unsolicited contact, regardless of who they claim or appear to be. Phone numbers, email addresses, and websites can be spoofed or made to appear legitimate.
  • Do not provide your personal or financial information to anyone unless you are certain that you are speaking to a legitimate individual.
  • Do not allow others to funnel money through your account.
  • Do not pay for debts or fines with a gift card.
  • Trust your instincts. If something does not feel right, end the communication and contact the business or individual through a known, publicly available method.

If you think your financial information has been compromised, contact MC Federal Credit Union immediately so we can help you mitigate any potential loss. We are available to assist you by phone at 800.834.0082, by using the messages feature in our digital banking service, or in person at one of our local branches.

Thank you for being a valued member of MC Federal Credit Union

Elba Arenas Signature

Elba Arenas
President & Chief Member Experience Officer
MC Federal Credit Union

MC Federal Credit Union

MC Federal Credit Union

More Articles You May Like

African American Woman in Wheelchair using Laptop
Financial Wellness

Student Loan Repayment, Simplified

After a historical hiatus throughout the pandemic, borrowers now face federal student loan repayment. Evaluating your full financial picture and making a repayment plan goes

Read More >