Be Aware of Phone Scams

Using mobile phones and online banking channels to manage our bank accounts and various forms of digital payments is certainly convenient. Unfortunately, scammers think so too. One way in which scammers take advantage of our reliance on the use of our mobile phones is through phone scams, also called Vishing. 

What is Vishing?

Vishing occurs when a scammer calls an intended victim and pretends to be from a reputable source such as a credit union, utility company, or law enforcement organization. The goal of the scammer is to get their intended victim on the phone and trick them into divulging personal information or banking details that the scammer can use to steal the victim’s identity or money.

These scammers use several techniques to make their calls seem more legitimate such as:

• Using fake caller ID information; calling from a local phone number; or leaving an urgent voicemail message, usually from a legitimate looking number, asking the victim to call back.
• They may also use a combination of vishing and smishing attacks, where they send a text message that directs the intended victim to call a phone number that the scammer controls.
• They may have details about their intended victim, that they have harvested from other sources, such as internet searches. These details could include things like the victim’s name and address.
• Once they have their intended victim on the phone, they often put pressure on them to act quickly. They may use threats of arrest or limited time offers that expire at the end of the call.

What can you do to protect yourself from scammers?

• Think before you act! If you receive a phone call that you weren’t expecting and it says it’s from your financial institution or another trusted business, it may be malicious. Especially if the person on the other end of the line is asking you to provide personal information.
• Never provide personal information, including your online banking username and password, in response to an unexpected phone call. In fact, WECU will never initiate an unexpected phone call and ask for your personal information including your online banking credentials.
• If you receive a suspicious call from someone claiming to represent a trusted business, hang up and call that business back using a verified safe phone number. You can contact WECU at 360-676-1168 or Toll Free 800-525-8703.
• If you believe that you may have fallen victim to a vishing attack, or any other type of attack targeting your banking information, contact WECU as soon as possible.

For more information about fraud prevention and other scams visit our Security page.