Fraudsters are always looking for new ways to get your personal and/or financial information. One common way they do this is through “spoofing” and posing as PSECU in the hopes of gaining access to your account or cash.
Spoofing is when someone creates an email address, sender name, phone number, or website that is a duplicate of or very similar to a trusted source. Fraudsters will then use these items to trick you into believing that you’re interacting with that trusted source. Their goal? To get you to disclose personal or financial information, send money, or download malicious software.
Here’s one example of how a spoofing scam can play out. You receive a phone call that looks like it’s coming from PSECU’s main phone number. You answer, and the person on the other end identifies themself as a PSECU employee. They then begin to ask you for sensitive information like your account number or PIN, sometimes under the guise of verifying your identity for security purposes. Because it looks like the person is calling from PSECU, you provide them with this information. After the call ends, this person (who is not actually a PSECU employee) uses that information to access your account, make unauthorized purchases or withdrawals, etc. You notice this fraudulent activity and contact PSECU directly, only to learn that the call you received was not from a true PSECU employee and you’ve been scammed out of your hard-earned cash.
While financial institutions like PSECU may reimburse you for fraudulent charges that occur from someone accessing your account, credit card, or debit card without your knowledge, they may not cover charges made or financial losses you experience as a result of willingly giving your account credentials out to another individual.
Spoofing can take many forms. In addition to the example above, you may receive a text message, email, or other communication that looks and sounds legitimate, but is actually from a scammer.
So, how can you detect spoofing and protect yourself and your finances? There are a few common red flags when it comes to spoofing scams:
If you’re a PSECU member, there are times we’ll reach out via phone call, text message, or email. So, how can you tell the difference between a legitimate contact and a spoofing scam? Follow the tips below.
No, just because you’re targeted by a spoofing scam doesn’t mean your account isn’t secure. Scammers will target anyone and everyone they can to get access to sensitive information and funds. Oftentimes, they’ll impersonate PSECU and send communications to a large group of people whose contact information they’ve gotten their hands on, whether they’re PSECU members or not. The fraudsters’ hope is that at least some of the people they target are PSECU members and will be tricked into supplying their information or sending money.
If you have concerns about the security of your account, please contact us directly at the number(s) listed on our website.
Unfortunately, fraudsters are always hard at work trying to steal sensitive information or cash. While scams are constantly evolving, there are often red flags similar to those listed above. In addition to knowing what to look for, there are steps you can take to proactively protect your account, like signing up for account alerts, regularly monitoring your account, and reporting suspicious activity immediately.
To learn more about common scams and how to protect yourself, visit the security section of our blog.