Don’t be a victim. First, NEVER give your online or mobile banking login information to a 3rd party. Second, legitimate offers WILL NOT require you to immediately send funds back, especially in the form of gift cards or Western Union. Last, if you have a dire need go to a trusted partner or an in person shop.
Recently we’ve seen an increase in fraudulent deposits, most coming through remote deposit capture. During our investigations, we’ve learned that members are responding to calls and emails from fraudsters posing as “loan companies”. These people are contacting our members with a loan approval and offering to directly deposit the “loan funds” through their online or mobile app. So far what we have determined is these members were searching the internet for small loans, like payday loans, and were then contacted with an approval; although the members say they didn’t actually apply for a loan. If this happens you should STOP and investigate. If you haven’t officially applied for a loan, why are they contacting you? Are they a trusted partner and source? Remember, not all internet sites are safe! Then, the member is asked to provide either 1-complete login information and further authentification information to perform transactions or 2-to provide remote access for the “loan company” to access/take control over the member’s device. STOP IMMEDIATELY and disengage the conversation! Your secure login information is for your use only and should NEVER be shared with a third party. Finally, the members who have fallen victim to these scams receive a “remote deposit check” into their account . The payer of the checks do not match the loan company and are returned within days of deposit as NSF. In the meantime, the members are told to purchase gift cards and the gift card number and secure code on the back of the card are sent to the “loan company” and in a couple of cases the member was told to Western Union the funds. Once this happens the money is gone and the member is left with an NSF deposit and owing the credit union for the funds they’ve already used.
If you think you’ve fallen victim to an online scam, contact your financial institution immediately to minimize the loss and protect yourself. If you’ve given your online or mobile account information, immediately go and change your username and password. Take control of the situation as quickly as possible.