Fraud Alert: “Smishing” Attempts Reported by More South Dakota CUs
The Memo reported yesterday that several Sioux Falls SD area credit unions are receiving calls from members regarding a text message scam. We have since learned that several other South Dakota credit unions received reports of the same scam.
Karen Lantz, United Methodist First Choice FCU in Rapid City, and Judy Wolff, Avanti FCU of Watertown reported to the Memo yesterday that they have also been notified by members that had received these same bogus text messages.
The text message indicates that the member’s debit card has been deactivated and provides a 605 area code telephone number to call. If the victim calls this number, an automated voice prompts the caller to enter the card number and PIN.
These scam attempts called “smishing” combine the techniques of “phishing,” which uses email, with “SMS,” which uses text messages, to obtain sensitive information from customers. Below is an example of the scammer’s text message.
This is a common tactic used to obtain information from unsuspecting consumers. Credit unions do not send out text messages or emails or make phone calls asking for account information. Members who mistakenly responded to this text and provided information should call their credit union immediately so that appropriate action can be taken to prevent or reduce potential losses.