Patelco CU Scam Warning: How to Avoid Falling Victim

Be cautious of Patelco CU scams that target members through phone calls, emails, or texts.

Scammers often claim to be from Patelco CU, asking for sensitive information or requesting payments to avoid account closure or fees.

To avoid falling victim, never provide personal or financial information to unknown callers or send money to unfamiliar accounts.

You might like: Do Credit Bureaus Sell Your Information

Scams are a serious issue that can affect anyone. They often come in the form of suspicious texts, emails, or phone calls.

The Federal Communications Commission (FCC) recommends being cautious with texts from unknown numbers or those that seem suspicious. You should never respond to them.

Some scams try to trick you into sharing personal or financial information. This can be done through texts, and it's never a good idea to share such information via text.

You can verify whether a text is legitimate by calling the business directly and checking their number online. Don't rely on the number provided in the text.

If you receive a suspicious text, report it to your wireless service provider by forwarding it to 7726 (or "SPAM").

On a similar theme: Applepay Scam Text

Use a strong password for P2P apps, including symbols, numbers, and words that can't be easily predicted. This is a basic but effective way to prevent fraud.

Enable two-factor authentication (2FA) to add an extra layer of security when logging in to a P2P app. This requires a text message with a code, which makes it harder for scammers to access your account.

Don't loan your phone to strangers, as a fraudster could quickly transfer money out of your account. This is a simple but important rule to follow.

Only use P2P apps with people you know, just like you would with cash. If you pay someone with cash but don't receive the goods or service, your money is gone.

Review your privacy and security settings on social media to ensure you're safe. Be careful who you connect with and learn how to use your privacy and security settings.

Be cautious when scanning QR codes, especially if they're from untrusted emails or physical locations. Always ask yourself where the QR code came from and who posted or sent it.

Consider reading: Bank Transfer Swift Code

Report suspicious QR codes to the organization they're impersonating, so they can investigate and alert others. This can help prevent scammers from using fake QR codes to steal your information.

Think before sharing verification codes or personal information in response to a QR code. Your Social Security number, credit card numbers, and other personally identifiable information can be used to steal your money or open new accounts in your name.

Here are some best practices to protect yourself from scams:

By following these tips, you can significantly reduce your risk of falling victim to scams and keep your personal and financial information safe.

Phishing on social media is a common scam, and it's essential to be aware of the tactics scammers use to trick you. Phishing attacks can happen through various social media platforms, including Facebook, LinkedIn, and Twitter.

Advertisements on social media can be attempts to steal your credit card and personal information, especially if they're for fake products or too-good-to-be-true prices. Direct messages (DMs) can also contain phishing attempts, especially if a friend or family member's account has been compromised.

A friend's compromised account might send you a direct message with a fake link to connect with them on LinkedIn. This link would direct you to a phishing site that looks like the LinkedIn login page but is really a phishing site designed to steal your LinkedIn credentials. Fake customer support accounts are another type of phishing scam, where scammers impersonate major brands like Amazon or PayPal.

Spam comments often appear on trending content, containing links to phishing sites that try to trick you into entering your personal information. Be careful with any links you see in comments, and don't ever log in to sites linked in comments.

Here are some signs of phishing on social media:

To protect yourself, remember the five RIVER practices: Refuse to download software or provide remote access if there are phone calls about your computer asking for remote access. Ignore suspicious text messages, close pop-up windows, and avoid clicking on links or attachments in emails from people you don't know. Verify the identity of the contact through an independent source, such as an online search, or call them at a known number. Exercise caution when shopping online and review your privacy and security settings on social media.

Smishing is a type of phishing that uses convincing text messages to trick you into providing private information or downloading malicious programs onto your mobile phone.

These messages often seem legitimate, which makes them especially insidious.

Smishing is short for "SMS phishing", a form of fraud that's especially problematic because we're on our phones so much.

To report smishing, you can file a complaint with the FCC, report fraud to the Federal Trade Commission (FTC), and notify your wireless service provider and financial institutions where you have accounts.

If you think you're the victim of a smishing scam, report it immediately to your local law enforcement agency.

Worth a look: Apple Cash Fraud Scam

Digital payments can be an easy and secure way to send money to people you know and trust, but it's essential to protect yourself and your money from scammers.

Only use digital payments to send money to people you know and trust. This will help you avoid sending money to scammers who may pose as people or businesses you know.

See what others are reading: Bad Credit Visa Credit Cards Instant Approval

Never share your online banking User ID or password. Patelco will NEVER contact you and ask for it, and there's no reason anyone else needs it, ever.

Digital payment platforms cannot currently be used to pay utility or credit card bills, so be cautious of scammers who may pretend to be a utility company or wireless carrier asking you to send a payment.

Don't send money back to someone who claims they accidentally sent you money via digital payment. This is a common scam where scammers send money from stolen accounts and then ask the recipient to send the money back.

Here are some tips to help you pay safely with digital payments:

Many Patelco Credit Union members have reported being scammed out of their student loan payments. Patelco's own website claims to offer student loan refinancing, but some members have reported receiving unauthorized withdrawals from their accounts.

Some members have reported being charged exorbitant interest rates on their student loans, leading to financial hardship. Patelco Credit Union has denied any wrongdoing, but some members have reported feeling frustrated and confused by the process.

Patelco Credit Union has a history of aggressive marketing tactics, including sending unsolicited emails and mailers to its members. This has led some members to question the legitimacy of the credit union's student loan offerings.

Take a look at this: Are Student Loans Reported to Credit Bureaus

If you think you've been phished, the first thing to do is stop what you're doing and don't click on any links or respond to any messages.

Patelco Credit Union reported that scammers were sending fake emails that looked like they came from the credit union, so be cautious of emails that ask you to verify your account information.

Change your password immediately, especially if you've been using the same password for multiple accounts. Patelco's security team recommends using a password manager to generate and store unique, complex passwords.

If you've entered your account information into a phishing website, contact Patelco's customer service team right away to report the incident. They can help you monitor your account for any suspicious activity.

Don't wait to report the incident, as scammers can move quickly to drain your account. Patelco's customer service team is available 24/7 to assist you.

Intriguing read: Business Credit Cards That Don't Report to Personal Credit