By: Lena

Lena @ 12:59 pm

The Internet gives buyers access to a world of goods and services, and gives sellers access to a world of customers. Unfortunately, the Internet also gives con artists the very same access. Find out some caution tips you can follow to minimize your chance of being defrauded when online.

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By: Lena

Lena @ 1:17 pm

Michigan First is committed to educating consumers about ways to detect identity theft and protect themselves from having their personal and financial information compromised.  Below are scenarios of scams that have been devised by identity thieves in order to commit fraud. Please note that the list below is not inclusive as identity theft scams continue to take on different forms every day. Learn about Identity Theft here.

• Economic Stimulus Package Scam
  Fraudulent e-mails have been reported that purport to come from the Internal Revenue Service. The e-mail states that the recipient is due to receive a refund check, but that the “fastest and easiest way” to receive the money is by direct deposit to the recipients checking or savings account.
   
  The recipient is then asked to follow a link to an official-looking IRS page that asks for his/her account information “to ensure that your refund will be processed as soon as possible.” Some of the e-mails ask that the information be submitted by a deadline date and warn that late submission will result in delayed refunds “due to the volume of requests we anticipate.”
   
  The e-mails often conclude reassuringly by noting that some persons will receive the message in their “SPAM/BULK folder . . . because of the large amount of e-mails we are sending out or because of the restrictions implemented by your IS.” Remember: Do not give out personal or account information through e-mail, on the phone, through the mail or over the internet unless you’ve initiated the contact or are certain of the identity of that individual or institution.
•  On-Line Banking Verification Phishing Scam (Phishing is a method of identity theft carried out through the creation of a website that seems to represent a legitimate company) Scenario: Consumer receives an e-mail prompting for “verification” of personal and account information via a link to a spoofed website. Remember: Never access links provided in your e-mail. Instead, access the organization’s website by typing the actual URL.  If you suspect an e-mail may be phishing, contact the organization’s customer support center immediately.
• Jury Duty Scam Scenario: Consumer receives a phone call stating they will be held in contempt of court for failure to appear for jury duty. The conversation then leads to the solicitation of personal and/or account information. Remember: Do not give out personal or account information through e-mail, on the phone, through the mail or over the internet unless you’ve initiated the contact or are sure you know whom you’re dealing with.
• Tax Refund Internet Scam Scenario: Consumer receives an e-mail informing them of a tax refund. One e-mail, which claims to be from the Internal Revenue Service (IRS), tells them that they are eligible to receive a tax refund for a given amount. It then directs them to a link that requests personal information, such as your Social Security number and credit card information. Remember: DO NOT enter your personal and account information. The IRS does not ask for personal identifying or financial information via unsolicited e-mail. More information on these schemes may be found on the criminal enforcement page at www.IRS.gov. 
• “Refund Notice” Internet Scam Scenario: Consumer receives an e-mail which claims to provide information regarding the status of the IRS Tax Refunds. The e-mail contains a link, which mirrors the true IRS website. This site purportedly allows the consumer to check the status of their IRS tax refund after providing personal information including Social Security Number or IRS Individual Taxpayer Identification Number and credit card information.
  Remember: DO NOT enter your personal and account information. Remember: The IRS does not ask for personal identifying or financial information via unsolicited e-mail. More information on these schemes may be found on the criminal enforcement page at www.IRS.gov.
   
  If you receive an unsolicited e-mail alleging to be from the IRS, take the following steps:
  • Do not open any attachments to the e-mail, in case they contain malicious code that will infect your computer.
  • Contact the IRS at 1-800-829-1040 to determine whether the IRS is trying to contact you about a tax refund.
  • Taxpayers do not have to complete a special form to obtain a refund.
  • If you have received this, or a similar hoax, please file a complaint at www.ic3.gov.
• NCUA or CO-OP Credit Union Phishing Scam Scenario: A consumer or a credit union member receives an e-mail that appears to be from NCUA or CO-OP. This false e-mail asks for the recipient to click on a link to verify their credit union account registration. If the recipient proceeds to do so, the link directs them to a false website and asks for their credit union account number and PIN, along with other personal information.
  Remember: NCUA and CO-OP do not ask credit unions members or general public for personal or financial information. Do not follow the instructions in the e-mail. Additional information about this scam can be found on the National Credit Union Administration web site at http://www.ncua.gov/Phishing/phishing.htm.
• Credit Card Scam Scenario: Consumer receives a phone call asking for additional details regarding credit card information. This scam is different from others because the person calling does not ask for a credit card number – they already have it! Instead, they are looking to solicit the 3-digit security code that is at the back of our card. Remember: Do not give out the credit card information. The institution that issued your credit card will never call you and ask for the 3-digit security code on the back of your credit card as they already know this information.
• VISA Credit Card Scam Scenario: Cardholders receives an e-mail (from VisaServices@visa.com or Visa@visa.com or a similar e-mail address) asking the cardholder to update their personal and financial information by clicking on a link provided in the e-mail. Remember: VISA will never ask send an e-mail asking a cardholder to verify their personal or financial information. If anyone receives an e-mail of this nature, do NOT click on any link within the e-mail and do NOT give out any personal information on a website linked to this email or any similar e-mail. If you do receive this fraudulent e-mail it, please forward it to phishing@visa.com.
• Online Bill Pay Scam Scenario: When logging into their Online Bill Pay system, a pop up window or web page is displayed asking the customer for personal or financial information such as date of birth, Social Security numbers, account number, ATM card, PIN and credit card information. This web page may be titled “Security Confirmation” and appears to come from within the online banking and bill pay service, but it is actually a fraudulent page caused by malicious code that has infected the user’s personal computer.
   
  This webpage is actually a “Phishing Attack,” a method of identity theft carried out through the creation of a website that seems to represent a legitimate company. These pop-up boxes, and any website associated with them, were not created by Michigan First Credit Union, and no personal information should be entered. Remember: Do not click on any links in a pop up and do not give out your personal and financial information. Most anti-virus software providers have recently issued updated software which eliminates the malicious code. It is important that you update or install anti-virus protection software on your computer to protect yourself.
• Strawman Scam Scenario: The premise of the scam is that federal and state laws regarding the repayment of individual debt are invalid. Fraudulent web sites or scam artists promise to help you get out of debt, defeat court actions, void judgments, etc. They attempt to sell over-priced legal documents, official looking papers, books or other information. Some web sites even sell this fraudulent information online. Remember: Be wary of any website or individual that promises to “quickly” erase debt via bogus loopholes in the law. More than likely, these are just scam artists taking advantage of good people who may be looking for an easy solution. In reality, the best way out of debt is to budget your money and pay your creditors. Any other solution that sounds too good to be true probably is.
  

IMPORTANT INFORMATION: Michigan First Credit Union will never e-mail you requesting your personal and financial information. If you come across any of the scenarios listed above that pertain to your accounts with Michigan First, please contact us at 313-345-7200 or 800-664-3828.

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