KSAT Community partner Randolph-Brooks Federal Credit Union (RBFCU) is working with its members and the community to halt fraud by impersonators of RBFCU or other financial institutions, who may try to gain access to account information through text messages, emails or phone calls.
Fraudsters are effective at impersonating companies you trust, like your financial institution or a charity.
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When they use text messaging, phone calls or emails to get you to share your personal information – like usernames and passwords – they quickly use that to access your financial accounts and can take your money before you know it.
How to solve it:
Always remember that financial institutions like RBFCU will never call, email or text anyone for sign-in information, including usernames, passwords, security questions and one-time passcodes, or other personal information, like account or Social Security numbers.
- It’s easy to fall into the trap set by fraudsters
- They send text messages that appear a lot like texts sent by your financial institution
- The messages give you multiple ways to reply
- These texts can ask if you have bought something recently, often through a popular online retailer like Amazon
- Most likely, you have not bought anything for the amount listed in the text, but still you have the option to respond with an “N” for “no” or “STOP” to cease receiving the messages
- Once you have made any response, the fraudster will call you and impersonate a representative of the financial institution
- Fraudsters are convincing; they know the way financial institutions interact on the phone
- Once they have you convinced that they represent a company you trust, they’ll ask for your personal information, including the username and password to your online bank account
- If you give this information, a fraudster can find a way to transfer your money into his or her own account
- Credit unions, banks and other companies often have a second security and verification process known as a one-time passcode; you won’t be able to gain access to your account unless you enter the passcode sent to you via text or recorded voice call
- A fraudster will stay on the line with you and will ask you if you’ve received the OTP
- If you receive the OTP via text, you may see this warning: “Don’t share it; we won’t call to ask for it.”
RBFCU is advising any person who receives a text message including “Randolph Brooks Federal Credit Union Alert” with instructions to “Reply Y or N” or “Reply STOP” not to respond in any way.
Anyone, not just RBFCU members, can be the target of this fraudulent activity. Fraudsters posing as financial institutions use these tactics to compel account holders to provide the information they can use to gain access to funds from those accounts.
RBFCU will never call, email or text anyone – members or non-members – for sign-in information, including usernames, passwords, security questions and one-time passcodes, or other personal information, like account or Social Security numbers.
If anyone has responded to an unsolicited text, they should not answer phone calls that appear to be from RBFCU, and should never provide personal information to anyone who calls and asks for it. Additionally, members should monitor their accounts regularly and report any suspicious transactions.
It’s typical that these texts and phone calls will ask for Online Banking credentials. If successful, fraudsters can use the member’s username and password to trigger a text message from RBFCU to the member with a one-time passcode (OTP) in order to access their account. These OTP messages also warn members: “Don’t share it; we won’t call to ask for it.”
If you receive an RBFCU OTP message but are not currently trying to sign in to or perform an action in your Online Banking account, you should immediately contact RBFCU at 210-945-3300 for assistance.
To learn more about RBFCU, click or tap here.
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KSAT Community operates in partnership with University Health, Energy Transfer and Randolph-Brooks Federal Credit Union