Online fraud continues to be a huge problem. The FBI estimates that cybercrimes, including phishing and smishing scams, may have cost Americans over $12 billion in just the last year. When you factor in all the expenses of those crimes, including legal fees and data recovery, those losses can get out of hand quickly. You can avoid becoming part of that statistic with some quick tips and advice from the Central Willamette CU team.
Phishing and Smishing Explained
Any email you receive could be a possible phishing scam. To avoid this con, carefully examine every email you receive. Even if the email appears to be from a company or institution you trust and utilize (such as the U.S. Postal Service), it could be fraudulent. It’s easy to make a look-alike website or email that appears to be authentic. Any links or attachments in that email could infect your computer with malware or take you to a fake website designed to trick you into sharing your personal and financial information. That includes your usernames and passwords.
To avoid phishing email scams, carefully review all emails. Who or what sent you the email? Often, the email sender will not have an email address that matches the company URL or website. Additionally, look for misspelled words.
Smishing attacks arrive via text. These work in the same way as a phishing scam, but they are much more difficult to authenticate. Our advice? Don’t click any links or believe any offers that come via text. Instead, call or visit the real company website. If you receive a text message from Central Willamette Credit Union, it’s likely based on “alerts” you set up in Online Banking. If you’re unsure, give us a call or stop by any branch.
Don’t Fall for Their Tricks
These five tips could help keep you from becoming a victim of a phishing or smishing scam.
- Scrutinize every email and text. If you weren’t expecting a message from a company or you aren’t sure if you have a package arriving soon, delete the email or text. Keep in mind that financial institutions and government agencies will not ask for your personal and private information. They already have that info.
- Don’t click links or open attachments. Instead, call the company directly using a phone number you know. Or open a new browser window and go directly to the website of the company or entity that supposedly sent the email or text. Then, connect with the company’s customer or member services. If the offer or request was legitimate, they’ll be happy you contacted them.
- Never give out passwords or private data. Any organization or government entity that you are connected to will already have your personal information, such as your Social Security Number. No company or government agency will EVER ask for your passwords.
- Use strong passwords and change them often. Don’t use the same password everywhere you go online. Also, update the passwords for your email accounts, social media accounts, apps, and Online Banking at least once a year.
- Verify every email and text. If it’s not from a friend, family, or an organization or entity you fully trust, don’t open it. Even if you do open an email or text, never click links or open attachments unless you are sure it’s legitimate.
If You Become a Victim
It’s nearly impossible to avoid every online con or scam. Even security experts fall victim now and then. If you do, check out the Better Business Bureau’s Scam Tracker to report the scam, the FBI’s Internet Crime Complaint Center to file a complaint, the Federal Trade Commission for information about what to do next, and the Central Willamette Credit Union team to freeze your accounts and update any information that may have been compromised.
Central Willamette Credit Union is on Your Side
Check out our Fraud & Scams page for the latest information about online cons that could affect you. Additionally, be on the lookout for fraudulent texts claiming to be from Central Willamette Credit Union. These texts could ask you to enter your Online Banking credentials. That is something we would NEVER do via text or email. If you become a victim of this crime, reset your password and call us immediately at (541) 928-4536.