TCT Federal Credit Union and other local financial institutions have noticed an increase in fraudsters attempting to take advantage of our members and their hard-earned income. When our staff make inquiries about your banking transaction, please understand we are taking proactive measures to protect you and your financial security.
An employee of TCT FCU or a legitimate representative of a legal business will never threaten you, demand that you transfer your money to "protect it," or instruct you to withdraw cash, purchase gold, or buy gift cards to give to someone. These are all tactics used by criminals to steal your money.
Many scams are carried out by fraudsters claiming to be Police Officers, Detectives, Financial Institution Examiners, Officials, or FBI Agents. These fraudsters can be very direct and authoritative in nature or may be very friendly in their approach and tend to take advantage of individuals.
Red Flags to consider are if a person:
- Discourages you from seeking advice from family members, friends, or trusted advisors before making a financial transaction.
- Asks you to lie to anyone, including bank tellers or investment brokers.
- Rushes you to make a decision regarding a financial transaction.
- Threatens arrest if you do not comply with their requests.
- Tells you to “not hang up” until you have completed the transaction (ATM withdrawal, online transfer of funds, purchasing gift cards, etc.)
- Asks to log into your computer to update or clean infected files.
- Asks for your Online Banking login credentials or ask you to log into your online banking to make a transfer, mobile deposit, or as part of a third-party loan application.
- Asks for your Credit Card login credentials to make a direct credit card payment as a way to pay you.
For more information on the Four Signs That It’s a Scam, How to Avoid a Scam, and Report Scams, please read the literature at this link by the Federal Trade Commission.
Additionally, if you think you may have been scammed, call your Financial Institution immediately. We can help limit your exposure and direct you to the best course of action.
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