How to Avoid Password Reset Scams
Ensuring all of your passwords are unique across all of your accounts is one thing, but who can you trust when it comes time to reset it? The answer is simple: no one. Password reset scams are becoming more popular as fraudsters learn how to spoof phone numbers and impersonate financial institutions. Never trust requests for your Online Banking password—it is yours and yours alone. We don’t even know what it is! And we don’t want to.
Review this guide to help identify and prevent password reset scams.
Protect yourself against these password reset scams:
Credit Union Impersonation: Scammers pose as your financial institution regarding suspicious charges.
Access to Key Information: Fraudsters possess vital data like card numbers, account holder names, SSN, and contact info.
Fake Assistant: Scammers offer to help halt charges, requiring member identification.
Identity Verification Request: Fraudsters ask for your online/mobile banking user ID to verify your identity.
“Forgot Password” Reset Tactic: They claim they will “reset” your password using your user ID, all you have to do is tell it to them.
Verification Code Scam: Scammers will send you a code, claiming it’s for verification, when in fact it’s the password change access code.
Top Banking Related Scams
Columbia Credit Union staff is knowledgeable about fraud and how to work with people to spot red flags. When it comes to call spoofing, we work with a cybersecurity vendor and phone carriers to take the bad actors down so they can no longer spoof our phone numbers. But being prepared yourself can help us big time. Let’s look at some common scams.
Account Verification Phishing
Scam emails claiming issues with your bank account will urge you to click a link and reveal your login details. DO NOT CLICK! If you are ever sent a link via text or email to “verify” your account or to confirm a transaction, don’t click the link. Call us directly to confirm who sent the communication.
Bank Survey Scams
Fake banking surveys that offer rewards can be employed in order to collect personal information under the appearance of customer feedback. A survey from Columbia Credit Union will never ask for personal info.
Fake Call Spoofing
Spoofing is when a scammer impersonates a known phone number, such as Columbia Credit Union’s 360-891-4000 and 800-699-4009 phone numbers. Caller ID may say it’s Columbia CU calling, leading members to believe they’re talking to someone from Columbia CU, while fraudsters are in fact tricking members into sharing their usernames, their passwords, and their one-time passcodes! These bad actors are professionals and very, very convincing.
If at any point you are uncertain about questions being asked or the call itself, HANG UP and call us directly at Columbia Credit Union: 360-891-4000. We’re here for you. Check out all of the cybersecurity-first Digital Services available to Columbia Credit Union members here.