In the realm of financial fraud I think we’re all familiar with email phishing these days, but what about text message phishing? A few weeks ago Oregon Community Credit Union was "under attack" from people sending fraudulent text messages to members citing that their accounts had been closed "due to unusual activity."
The cell phone message requested that recipients call a Florida-based number and
provide certain personal information such as debit card numbers and PINs. Local police reported 16 inbound 911 calls before 6:45am the day the first messages hit.
OCCU, Oregon’s third largest CU with 90,000 members, handled a large amount of phone calls, walk-in visits and web-based inquiries in regards to the scam and quickly distributed information around the situation.
This latest form of fraud adds another scenario to the playbook that needs to be planned for.
Has your CU ever had to deal with a situation like this? What procedures do you have in place to react to this type of event?
[Image courtesy of KVAL.]
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