There are two spoofing scams that are impacting MVCU Members:
Spoofing is when someone disguises a phone number to look like MVCU's to convince you that you're interacting with us.
- The fraudster is telling the member that there is a problem with their debit card. They ask the member to verify a made-up transaction and then ask the member to provide the last four digits of their debit card number and “online passcode”. When the member responds that they do not have a passcode, they are instructed to create one and then provide the multifactor authentication (MFA) code to the fraudster. The fraudsters now have access to the member’s online banking and begin to transfer funds from savings to checking. The fraudster then conducts transactions on the member's card. The fraudster then instructs the member that they will receive two texts regarding unauthorized transactions and how to respond to those texts. The first text is suspected to be from the fraudster, while the second was from MVCU’s fraud department. Members are reporting they are on the phone with the fraudsters for 30 to 60 minutes. IMPORTANT: MVCU will never tell you how to respond when we call or text to verify transactions. We also do not require you to create an online passcode or ask you to provide MFA codes over the phone or via text.
- The fraudster is asking the member to allow them to remote into the member's computer. Then, the fraudster has the member log into online banking. The fraudster transfers a large amount from savings to checking. Then they tell the member they made a deposit to checking in the wrong amount. They are then instructed to buy BitCoin or gifts cards with the funds deposited (The fraudster asks for the gift card numbers). The member does not realize it was their own funds.
If you are coached on how to respond to the credit union, do not proceed with the transaction. If you are ever asked to provide personal information or are unsure about proceeding with a transaction, hang up, and call 800-356-0067 to verify if that conversation was legitimate. Our goal is your financial safety and security!
Protect yourself from scams
Fraudsters are getting more sophisticated and more convincing. It’s getting harder to know when you’re being scammed, but there are some tips to follow to keep your money safe!
- Never allow a representative from any company to access your account through online or mobile banking.
- Also, never allow someone to remotely deposit checks to your account.
- Never give your online or mobile banking password to anyone.
- Never provide a refund or return via gift cards or cryptocurrency (BitCoin).
- If you have to pay money to a company or person to get a larger amount of money from them, then it’s a scam.
- If you are coached on what to say to a Credit Union representative, do not proceed with the transaction.
- Never send cash back via the U.S. Postal Service, FedEx, or UPS.
- If MVCU calls you, we will never ask you for your Debit Card PIN, Online Banking Password, or Account Number.
To verify your identity, an MVCU Representative may ask you to answer security questions, which may include your Social Security Number, Date of Birth, Driver’s License Number, Mother’s Maiden Name, a recent transaction, or a text verification code.
Our goal is your financial safety and security. If you have any questions, please don’t hesitate to call 800.356.0067. We’re here to help!
Protect Your Computer
We're here to help keep you, your money, and your technology safe.
Protect yourself and your family against:
- Identity theft
- ATM & debit card misuse
- Online fraud
Use these resources to start protecting yourself today: