5 Tips to Help Recognize Fake Financial Institution Scams

Estimates from the FBI’s Internet Crime Complaint Center (IC3) show Americans receive 3.4 billion phishing emails every day. Of those, one in every three pretends to be from a financial institution (bank, credit union, etc.). Criminals know that people trust their banks and credit unions, and by pretending to be from those financial institutions, they could gain access to a person’s accounts or convince them to send money. We’ve put together five tips to help you avoid these scams. 

Bienestar FCU Will Never Ask You for Private Information

If you EVER get an email, text, phone call, or other form of communication from someone claiming to be from Bienestar FCU and they request your account information, login credentials, or any other private information, HANG UP OR DELETE THE MESSAGE. Then call us directly at 202-974-3453. We will never contact you asking for any private information. After all, we already have access to it, and your login credentials are kept hidden behind layers of security that only you can retrieve. 

1. Avoid Urgent Messages: Scammers use urgency and panic tactics to get you to share information. These include messages claiming that your accounts will be “locked” or “depleted” unless you act quickly. 
2. Delete Requests for Sensitive Security Information: If anyone contacts you asking for your full online banking credentials, debit card PIN, one-time passcodes, or your credit card information, delete all communications or hang up. This is almost certainly a scam designed to part you from your money and security. 
3. Don’t Click a Link Until You’re 100% Sure It’s Authentic: Phishing emails and text messages often include links to websites designed to look like your financial institution. However, visiting that page and trying to log in to your account can spell disaster. Instead, hover over the link (or press and hold on mobile) to view the real URL. If it’s not your financial institution, delete the message. 
4. Hang Up on Anyone Demanding to Keep a Call Confidential: These are almost always scammers trying to intimidate you into sharing private information. Hang up and call your financial institution directly to report the instance and enable account safety precautions. 
5. Scrutinize Every Request for Information: If you weren’t waiting for a call from your financial institution, then be very skeptical of any calls or communications that arrive. With billions of emails and other messages being sent every day, the chances of an email or text message being malicious are high.