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Protect Yourself Against Digital Banking Fraud

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Protect Yourself Against Digital Banking Fraud

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FRAUD ALERT

We are seeing fraud scams with members receiving text messages or phone calls that are being spoofed to look like they are coming from SCE Credit Union. Here are some examples:

Scam Scenario 1

  • A text is received, appearing to originate from the Credit Union to validate a large Zelle® transfer.  If the member replies NO, the fraudster calls the member with a spoofed number appearing to be the Credit Union.
  • The fraudster will tell the member that to recover the funds, it must be processed using Zelle.
  • The fraudster instructs the member to disable their mobile number enrolled in Zelle for security reasons. The fraudster then links the member’s mobile number to the fraudster’s Zelle account and asks the member to provide the authentication code as part of the recovery process.
  • The fraudster then sends the funds to themselves via Zelle, in some cases multiple times.

Scam Scenario 2

  • This involves Online Banking and a call appearing to come from the Credit Union.
  • The fraudster asks the member for their online User ID and uses the “forgot password” option, generating an email to be sent to the member along with a temporary passcode.
  • The member provides the passcode to the fraudster, enabling them to log in with the User ID and temporary passcode – and they will proceed to change the password and initiate Zelle transfers. 

It’s important to remember…

Quite simply, the Credit Union will never call or text you to ask for your User ID, Online Banking password. If in doubt, call us at our publicly listed number – 800.866.6474 – or reach out to us through scefcu.org/LetsConnect to ensure a communication is legitimate. 

For additional information on how to protect yourself from fraud, hit the burgundy “Fraud Awareness” button that appears along the right side of every page.