Debit Card Fraud Education

March 9, 2021 | News


During this busy time of year we want to remind everyone how stolen cardholder information is used to commit fraud. We have included tips below that you can follow to help keep your information safe — even when dealing with us or with someone you think is from MembersOwn Credit Union.

Fraudsters have become increasingly adept at getting cardholders to share the information they need to commit fraud by posing as financial institution call center agents, or by sending text messages that look like they are coming from MembersOwn, warning of suspicious transaction activities. They are also known to call in to call centers posing as members requesting changes to card information and limits.

Fraudsters use information stolen through data breaches (at health insurance providers, reward program providers, credit bureaus, merchant terminals, and social media sites, to mention just a few recent ones) as well as through malware programs deployed on personal computers and other sources. Stolen personally identifiable information (PII) is combined with stolen card information, resulting in sufficient information to create profiles that fraudsters can use to position themselves as the actual members.

We recommend following the following points to help you avoid compromising your personal information:

  • A text alert from the MembersOwn Fraud Department to you warning of suspicious activity on your card will NEVER include a link to be clicked. You should never click on a link in a text message that is supposedly from the MembersOwn Fraud Department. A valid notification from MembersOwn will provide information about the suspect transaction and ask the cardholder to reply to the text message with answers such as ‘yes’, ‘no’, ‘help’, or ‘stop,’ and will never include a link.
  • A text alert from the MembersOwn Fraud Department will always be from a 5-digit number and NOT a 10-digit number resembling a phone number. Text caller IDs will be 20733 if you are contacted by the Fraud Department.
  • A phone call from the MembersOwn Fraud Department automated system will only include a request for your zip code, and no other personal information, unless you confirm that a transaction is fraudulent. Only then will you be transferred to an agent who will ask questions to confirm your identity before going through your transactions.

If at any point you are uncertain about questions being asked or the call itself,  hang up and call MembersOwn Credit Union directly. If the you receive a call claiming to be the MembersOwn Fraud Department call center and asking to verify transactions, no information should have to be provided by you other than your zip code and a ‘yes’ or ‘no’ to the transaction provided.

  • We will NEVER ask for the PIN or the 3-digit security code on the back of a card.
  • Posing as call center agents, fraudsters will often ask you to verify fake transactions. When you say no, you did not perform those transactions, the fraudster then says that your card will be blocked, a new card will be issued, and that they need the card’s PIN to put on the new card. Many people believe this and provide their PIN.
  • Regularly check your accounts online for suspicious transactions, but especially if you are unsure about a call or text message you’ve received. If anything looks amiss, call MembersOwn Credit Union directly.
  • If you have received a call or a text message from the MembersOwn Fraud Department call center and are unsure about responding to it, call MembersOwn directly for assistance.

You can manage your debit card, turn the card on an off, set spending limits and more with the CardValet app.

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