Scam of The Week Alert: Credit Union Scams
Traditional banking services are given by a credit union, which is a sort of financial cooperative.
Credit unions can be founded by large firms and other entities for their employees and members and vary in size from small to large firms or organizations. Credit unions are owned, operated, and developed by their members.
Credit Unions: An Overview
Credit unions operate on a simple business model: Members pool their funds to give loans, demand deposit accounts, and other financial services to one another. Any revenue produced is utilized to fund projects and services that benefit the community.
Scams Related to Credit Unions
The National Credit Union Administration (NCUA) in the United States recently issued a warning about an increase in cyber attacks targeting credit unions.
Credit unions are often modest non-profit organizations with a large number of committed members, making them an ideal target for cybercriminals. Cybercriminals send phony emails that appear to be from your credit union in the majority of credit union scams. The phishing emails range from signature requests to payment notification alerts, but they always direct you to a link for more information. The link takes you to a bogus credit union login page. If you try to log in on this page, the cybercriminals will receive your login and password.
They can make unauthorized charges, empty your account, and send and receive illegal wire transfers once they gain access to your account.
To avoid being a victim of a similar scam, follow the guidelines below:
- Never click on a link you didn’t expect to find in an email
- Whenever you receive an email notification, ask yourself, “Did I sign up for email notifications?” Have I ever gotten an alert like this before?
- When your credit union asks you to log in, go to the official website and log in. You’ll be able to tell if you’re logging in to the real site or a bogus clone.
Examples of Scams Related to Credit Unions
5/11/22 - SMTP Relay Services spoofing
(SMTP) is the industry standard for sending texts and emails. SMTP relay services are commonly used by businesses to deliver mass emails, such as marketing materials. Unfortunately, thieves have discovered a weakness in the Gmail service, which some firms employ as an SMTP relay service.
Cybercriminals can use this flaw to mimic any organization that uses Gmail as a relay service. Let’s imagine a respectable organization owns the domain sign-doc [dot] com and sends its marketing emails using Gmail. Cybercriminals might send phishing emails from a malicious domain, such as wishyoudidntclickthis[dot]com, and mimic the genuine domain, sign-doc[dot]com, to conceal the communications. Because the faked domain is sent via Gmail, The malicious email will be considered safe by most email clients and will pass through security filters.
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To avoid being a victim of a similar scam, follow the guidelines below
- Gmail isn’t the only victim of this type of attack. Similar flaws could exist in other SMTP relay systems. Even if a mail appears to be from a trusted sender, proceed with caution.
- Never open an email that contains a link or an attachment that you did not expect.
- If you need to confirm the authenticity of an email, try contacting the sender directly via phone or text message.
Google Docs Comment Con - 1/26/22
Google Documents is one of the most widely used document sharing and editing tools in the world. Google Docs also allows users to make comments on documents in addition to creating and sharing them. Cybercriminals have used this functionality in a new scam by putting phishing URLs inside comments.
On this fraud, cybercriminals create a document in Google Docs with a real Google account and then tag you in a comment. After that, you’ll get a valid email from Google informing you that you’ve been mentioned in a comment. The comment may look to come from someone you know, such as a coworker, and will contain an embedded phishing link.
Unfortunately, clicking the phishing link may result in malware being installed on your system.
Don't be fooled by this ruse! To avoid being a victim of a similar scam, follow the guidelines below:
- Be wary of connections that appear to be suspicious. Always move your cursor over links before clicking, and double-check the commenter’s email address to make sure they’re who they say they are.
- Look for grammatical problems, such as misspelled words or strange sentences, in the comment. The presence of grammatical faults could indicate that the comment is questionable.
- Don’t open any documents or files you didn’t expect to get. If you receive a document that you didn’t expect, double-check that the sender is real before opening it.
Contact Chargeback Way for Suggestions
You can contact organizations like Chargebackway, then go to place to direct yourself towards an authentic asset recovery firm. This company allows customers to submit a complaint against a scammer and recommends a wealth recovery firm suited to the victim’s needs.
Wealth recovery firms have experts who can assist you in recovering funds from any form of scam, including forex, investment, online, and cryptocurrency fraud. When you utter the word, a team of professional agents will be assigned to investigate the situation, gather evidence and data, monitor your scammer’s digital trail, and create a strong case against them – all with the purpose of catching them. To recover all of your valuable belongings or money that you have misplaced. They create a procedure that returns a victim’s lost money 99.99 percent of the time, from cyber investigation to digital tracking.
Chargeback Way makes use of current principles, buyer privileges, and innovative solutions to ensure that you receive the best possible recovery assistance. For the latest info and guides, you can visit our news page.
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