Recent & Common Financial Scams
Protect your financial and personal information by staying aware and informed. Below is information about a number of recent and common financial scams.
In this tough economic climate, there have been more and more scammers eager to take advantage of those seeking work.
When applying for jobs online, use reputable websites and remember that the old adage "if it seems too good to be true, it probably is" still applies. A recent scam has phony "employers" offering job candidates work but requires these applicants provide money upfront that the "employers" claim will later be refunded, or the "employers" provide a check for the applicants and request that they cash the check, forward a portion of the money to the "employer," and then keep the rest of the money for themselves as a signing bonus.
Don't fall for this updated version of what's commonly called the "Nigerian Payment Scam." The check provided to you by this scammer will wind up being fraudulent, and you will be out the money you forwarded along to the phony "employer" or the money you sent as an upfront payment for reasons such as credit report processing or equipment fees for a work-at-home opportunity.
Thieves may attempt to trick you into releasing sensitive information via telephone. The scammer will often speak quickly or attempt to confuse you. It is important to remember that businesses will never request information that they already have and that sensitive information should never be provided by phone or email if you did not originate contact.
Automated phone calls posing as trusted businesses or organizations state that the call recipient's card has been deactivated. To reactivate the card they need to press 1 and enter a full debit or credit card number and other card information
It's important to know that MSUFCU will NEVER contact you via telephone asking for credit card or account information. If you did not initiate the phone call, do NOT give out your credit card or account information. If you are unsure of whether the caller is a legitimate MSUFCU employee, end the call and call MSUFCU.
If you have received a call like this, please note the caller's number and report it to MSUFCU by using our Live Chat system, send us a secure email, or by call 517-333-2424 or 800-678-4968.
Visa Phone Scams
Phone scammers may pose as Visa security representatives, calling to verify unusual charges. The scammers will request you provide card information, including your Visa card number, expiration date, and security code for verification.
Scammers may also pose as Visa representatives soliciting cardholders because they have won a reward or prize. The caller will request card information for verification. Visa and MSUFCU do not solicit cardholders and will never request your credit card number.
Please know that MSUFCU does work with Visa Fraud Alert Management to monitor card activity and help prevent fraudulent Visa transactions on your account. Fraud Alert Management may contact you by telephone, or MSUFCU's Visa department may contact you via phone or email to confirm transactions should your Visa activity appear irregular. If you receive a call or email regarding your MSUFCU Visa and are uncertain as to its legitimacy, please feel free to contact us directly at 517-333-2424, 800-678-4968, or by secure email to review your Visa activity.