Information Verification Scam
What You Need to Know About the Latest Scam
To trick people out of their money, scammers usually send suspicious emails, texts, and calls to unsuspecting victims. The message or sender looks like the real thing, so the targeted person voluntarily gives away their login information, social security number, or personal data. The scammers then use the victim’s data to log in to their account and transfer their money to another account.
Scammers often target members at financial institutions like Radiant Credit Union to get access to financial data. As this trend continues, people are being cheated out of their money.
How the latest Scam against Radiant Works
Based on what we’re hearing from our members, it all starts when they receive a phone call from what looks like a local Radiant Credit Union or Radiant Fraud Department, according to the caller ID. The scammers pretend they are calling from the Radiant Fraud department or Call Center.
If the member answers the spam call, the person on the other line pretending to be with Radiant will usually ask for the member’s online banking password and username. If the member gives away this information over the phone, the scammer will try logging into their account using the information provided.
When someone logs into your account using a new device, Radiant will ask them to enter a verification code. The temporary code is sent to the true owner of the account, so they can log in securely. To get past this step, the scammer will ask the member for the verification code they just received. This gives the scammer full access to the member’s account. They can then transfer the funds and empty the account, robbing the member blind.
This scam has been happening to both young adults and seniors. Scammers often target older individuals that may have trouble navigating the internet or verifying suspicious calls and emails.
Everyone should be on the lookout for these kinds of fraudulent attacks.
Information Radiant Will NEVER Ask You For
There are some things Radiant will NEVER ask you to give out over the phone. Banking often requires the use of sensitive, personal information, but please DON'T release this information over the phone, via text, or email, even if it seems like the person contacting you is from an official Radiant branch. Radiant will NEVER call you and ask you to give out the following information:
eBanking Verification Code
eBanking username and password
Account number or routing number
Any code we send via SMS/Text
Debit or credit card pin
CVV2 code from the back of your debit or credit card
You should never give this information away over the phone, text, or email. If you are a current member, chances are Radiant already has this information on file. You will only need this information when setting up a new account, applying for a loan, or taking out a new credit card. This should be done either in-person at a local Radiant Branch or online using the official Radiant website. Even if a webpage, email, or screenshot has the official Radiant logo, it’s always better to err on the side of caution and report it to the authorities if you feel that something is wrong.
What to Do If You Receive a Suspicious Call or Message
There are several things you can do if you feel you’re being targeted in a spam attack. If you receive a call and do not feel confident that it is a Radiant Credit Union employee, hang up and call Radiant directly at (352) 381-5200. If you have received a suspicious email, text, or call, and/or provided any personal information, you can call Radiant directly at (352) 381-5200. Don’t be afraid to contact one of our member experience advisors for more information. They will walk you through the latest scam and make sure your finances and personal information are still safe. Be sure to save and copy any information related to the attack, including screenshots of emails, text messages, pop-up windows, and phone numbers. Share this with your local Radiant Branch, so we can report it to the authorities and better protect our members from spam.
The most common banking scams include:
Overpayment scams - Someone sends you a check, instructs you to deposit it in your bank account, and wire part of the money back to them. But the check was fake, so you’ll have to pay your bank the amount of the check, plus you’ll lose any money you wired.
Unsolicited check fraud - A scammer sends you a check for no reason. If you cash it, you may be authorizing the purchase of items or signing up for a loan you didn’t ask for.
Automatic withdrawals - A scam company sets up automatic withdrawals from your bank account to qualify for a free trial or to collect a prize.
Phishing - You receive an email message that asks you to verify your bank account or debit card number.
Prize scammers try to get your money or personal information through fake lotteries, sweepstakes, or other contests. Many claim that you’ve won a prize but must pay a fee to collect it. Others require you to provide personal information to enter a “contest.” These scams may reach you by postal mail, email, phone call, robocall, or text message.
Telephone scammers try to steal your money or personal information. Scams may come through phone calls from real people, robocalls, or text messages. Callers often make false promises, such as opportunities to buy products, invest your money, or receive free product trials. They may also offer you money through free grants and lotteries. Some scammers may call with threats of jail or lawsuits if you don’t pay them.
Ticket selling scams happen when a scammer uses tickets as bait to steal your money. The scammer usually sells fake tickets, or you pay for a ticket, but never receive it. They are common when tickets for popular concerts, plays, and sporting events sell out.
Government grant scammers try to get your money by guaranteeing you a grant for costs like college or home repairs. They ask for your checking account information. With it, they say they will "deposit the grant money into your account" or withdraw a “one-time processing fee.” In reality, government grants are rarely awarded to individuals. They usually go to state and local governments, universities, and other organizations. The money is awarded to help pay for research and projects that will benefit the public.
Some scammers take advantage of the public’s generosity. They especially take advantage of tragedies and disasters.
Pyramid schemes are scams that need a constant flow of new participants to keep them going. They are marketed as multi-level marketing programs or other types of legitimate businesses. They use new recruits’ "investments" to pay “profits” to those participating longer.
Pyramid schemes collapse when they can't recruit enough new participants to pay earlier investors. These scams always fail—it’s mathematically guaranteed.