Avoid Text Scams
As text scams become more sophisticated, it is getting increasingly difficult to identify the “real” from the “fake”. A new analysis from the Federal Trade Commission (FTC) shows that fake financial institution fraud warnings were the most common form of text message scams reported to the agency in 2022 – nearly twenty times the number since 2019. For example, have you ever received a text that says: “Credit Union Alert: Did you just attempt to charge $3,256 on your credit card? Reply Yes or No”. These texts are designed to create a sense of urgency, often by asking people to verify a large transaction they did not make.
Here are a couple of things to keep in mind when you get that text and your stomach drops:
Never click on links or respond to unexpected texts. If you think the text might be legitimate, please contact us directly (651-388-7133). For your protection, never use the contact information provided in the text message.
Filter unwanted texts.Your phone may have an option to filter and block spam or messages from unknown senders. Click here to see the FTC’s resource on How to Block Unwanted Calls.
Never share personal or financial information in response to a request that you didn’t expect. Honest organizations won’t call, email, or text to ask for your personal information, such as Social Security number, credit union account information, or credit card numbers.
Stop and talk to someone you trust.Before taking any action, tell someone – a friend, family member, a neighbor – about the text in question. Talking about it could help to realize it’s a scam.
As a reminder, legitimate fraud monitoring text messages for Red Wing Credit Union cardholders will be sent from short code 37268. However, when you’re in doubt, call us directly at 651-388-7133 and we will gladly help guide you.