There are various scams that involve the exchange of fraudulent checks between you and a fraudster. The two most common scams are fraudulent Indeed job site applications and fraudulent loan websites. For the Indeed scam, you apply for a job online and are sent a check in the mail and told to use it to buy your onboarding necessities on a website provided by the fraudster. You then use the money from the check to purchase the materials on the company’s website, not knowing it’s a fraudulent check and a fraudulent website. The fraudster can get access to the money from the check using the purchases made on the scam website. The check then comes back to the credit union as fraudulent, and the member is now responsible for owing that money back to the credit union. The scam for a fraudulent loan company involves the you applying for a loan online not knowing it’s a scam. Once you apply for the loan, the “loan company” either requests your online banking credentials to deposit a small check through remote deposit capture, or you receive a copy of the smaller check to your email account. You are then told the smaller check will be used as a verification for the larger loan you are applying for, and to immediately pay off the smaller loan once the check is deposited. This allows the fraudster immediate access to a check that is likely to be returned as a fraudulent item. The member will end up owing the money back to the credit union for the fraudulent check, and the account has now been compromised. 

Microsoft fraud consists of getting a pop-up on your electronic device stating that your device has a virus, and you need to call the phone number provided to get the virus removed. The pop-up will not leave the screen without completely shutting the device down. Upon calling the phone number provided, they attempt to persuade you into getting access to your device. Once the fraudster has control of the computer, they access email, online banking accounts, statements, etc. They want to access anything that controls your finances. Once they have access to online banking, they transfer money between the accounts to make the members think they got a deposit; it was most likely transferred from a loan on the account into the checking account. Once the money has been transferred, the members are instructed to remove the money from the account and send it back to the fraudster, whether that is through a bitcoin ATM, a wire, cashiers check, etc. If the member participates in the exchange, and willingly gives the money to the fraudster, we have no chargeback rights or a way to recover those funds. If you think you are falling victim to this scam, shut the device all the way down and do not turn it back on until you take it to get cleaned. Reach out to your local Superior office and let them know what happened. We will get online banking shut down and remove the services within home banking. Warnings and notes will be added to the account to prevent more fraudulent activity, but for your security, the account will be closed and a new one will be opened. 

The PayPal scam involves receiving a phone call or text message stating that there is fraudulent activity on your PayPal account, and they are trying to stop the payment and recover the funds. To prevent fraudulent activity on your account, you are told to follow the steps provided by the fraudster and give them access to your online banking. The fraudster tells you that they are going to have the money refunded to your account and block the transaction. What the fraudster is really doing is transferring money between accounts in online banking to make you think you got a deposit. The fraudster tells you that they deposited too much money, and you need to send a portion of the funds back. You are instructed to withdraw the cash and send the money back through bitcoin or wire transfer. What most don’t realize is that it was not a deposit into your account that you are giving back to this fraudster. It is your own money that you are losing. If you follow through with sending money to the fraudster, we have no chargeback rights or a way to recover those funds. If you think you are falling victim to this scam, shut the device all the way down and do not turn it back on until you take it to get cleaned. Reach out to your local office and let them know what happened. We will get your online banking shut down and remove the services within home banking. Warnings and notes will be added to the account to prevent more fraudulent activity. And for your security, the account will be closed and a new one will be opened.

These two scams involve fraudsters reaching out via text message and/or phone call to get access to your debit card information or online banking credentials. The fraudster could reach out to inform you that there has been possible fraudulent activity on you account, and you need to verify the transaction. The fraudster could either be posing as an employee from a merchant or pretending to be a financial institution employee. The fraudster creates a sense of urgency by stating the charge is for a large dollar amount and is set to clear the account if they don’t cancel it. They could ask for your account number, social security number, debit card number, online credentials, etc. It is important to know when receiving calls from your credit union that we will never ask for any personal account information over the phone. Our fraud department reaches out to members through a phone call, and they only verify whether you participated in a transaction or not. If you did not participate, they will put a block on the card and advise you to order a new one. If you did participate, they will close out the fraud case as not fraud and remove any blocks from your card. There are fraudsters that can spoof phone numbers so it may look like they are calling from Superior or another financial institution, even though they could be in a different country. If you get a suspicious phone call trying to verify account information, hang up the phone and call your local office directly. We will take the necessary steps to make sure the account is secure depending on the information exchanged with the fraudster.

Romance scams consist of an online "relationship" with a fraudster. The fraudster builds a connection with you through online conversation and uses that connection to ask for money. Common excuses for their monetary needs include: family troubles, food insecurity, or travel dollars to come visit you. Romance scams can be used to get all the money that they can from you or use them as a money mule. If they are being used as a money mule, you may hear the ruse “I do not have a bank account to cash this check, but I really need the money to come see you.” You are then advised to take the money to your local credit union or bank and deposit the check, or even open a whole new account at a different financial institution. Once the check clears, the member will be instructed to wire the money back to the scammer and will have participated in money laundering. The check may not come back as altered/fraudulent, but the account where the check originally came from is most likely a different member that fell victim to this scam and is now out that money. If you believe you are being used as a part of a romance scam, it is important to stop all communication with said individual and reach out to your financial institution. The primary goal now is to make sure that no more money is exchanged and/or lost.