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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.
Although this type of fraud is not new, scammers have been increasingly using legitimate dating and social networking websites for "romance scams." Scammers will set up phony profiles on these sites, often with fake photographs and identities, and develop online friendships with other users. Once the scammers have gained the trust of their new online friend, they will request money for a variety of seemingly urgent situations. The scammer may claim that they need money to pay for a passport or airfare so they can travel to visit their online friend in person, or they may state that they need the money for an emergency and will pay it back. Any money sent to these scammers will not be returned or used for the purposes they claimed, and the scammers will often come up with different excuses for needing more and more money.
These types of situations occur on otherwise trustworthy and legitimate social networking and dating sites, so always use common sense when meeting new people online. Do not share personal information such as credit card and bank account numbers, Social Security numbers, passport information, or passwords with others. Be extremely suspicious of anyone you meet online who asks you for money, no matter what reasons they provide for needing the funds.
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.