Imagine getting a call from your financial institution warning you about suspicious activity on your account. The voice sounds professional, the caller ID checks out, and they urgently ask you to verify your identity.
- You panic.
- You comply.
- And just like that you’ve been scammed.
Impersonation scams are one of the fastest-growing threats in digital fraud. These scams are sophisticated, convincing, and increasingly common. Fraudsters are now using phone calls, texts, emails, and even online ads to pose as your trusted bank or credit union, and they’re getting better at it every day.
When it comes to your financial security, we want our members to take precaution as seriously as we do. The methods for fraud are always evolving, but these three best practices can help you avoid almost every type of financial scam.
1. Never share sensitive information over unverified channels
Whether it’s a phone call, text, email, or online form, never share your passwords, one-time passcodes (OTPs), or account details unless you initiated the contact through a verified source.
Your financial institution will never ask for this information unexpectedly.
2. Always verify before you act
If you receive a message or call claiming to be from your financial institution, verify before you take action.
Use the phone number on the back of your credit or debit card or the official website of your bank or credit union to confirm the legitimacy of the communication.
3. Beware of urgency and calls to action
Scammers rely on urgency and fear to make you act before you have time to process. Be cautious of:
- Messages demanding immediate action
- Unfamiliar links you are asked to click or phone numbers you are asked to call
- Requests to move money to a “safe” account
Stay calm and trust your instincts, then contact your financial institution through a verified method. If something feels off, it probably is.
Above all, remember that we're here to help. Contact us anytime through our verified channels and we'll work with you to make sure your financial information is safe, secure, and ready for whatever you do next.
Want practice recognizing current fraud methods and impersonation scams?
Try our short quiz to see how much you know.
1. Which of these is NOT is a common tactic used impersonation scams?
A) Phone calls claiming suspicious activity and requesting immediate credentials
B) Text messages asking you to click a link and fill out a form or your account will be closed
C) Emails with your financial institution's logo and brand saying your information has been compromised
D) Social media influencers asking you to like and follow their platforms
Correct Answer: D. While you should be cautious of sharing your personal information on social media platforms and in the comments, there's nothing wrong with following your favorite influencer's content.
2. What is caller ID spoofing?
A) A prank call from a friend
B) A call that appears to come from a legitimate number but is fake
C) A call from your actual bank or credit union
D) A call that uses emojis in the caller ID
E) When the call is coming from inside the house
Correct Answer: B. It's always best to simply not pick up the phone if something looks off about the number. If you think you missed a call from your financial institution, you can always call them back at their verified number to check.
3. What should you look for in your browser URL when visiting your financial institutions website?
A) A colorful banner
B) A pop-up ad
C) A locked padlock or secure symbol
D) A countdown timer
Correct Answer: C. Your credit union or bank will be a secured website, which means it will have a padlock symbol (may be found in a menu expansion) and https at the beginning of the URL.
4. A text message says you’ve “won a $500 Radiant Holiday Gift Card Giveaway!” What’s the safest response?
A) Click the link to claim your prize
B) Text back “STOP”
C) Report or delete the message
D) Share it with friends so they can enter too
Correct Answer:
C. Holiday giveaway scams surge this time of year. Never click links or reply to messages that sound too good to be true — especially if you didn’t enter a contest.
5. Someone online is asking for people to share their mother’s maiden name and first pet's name in the comments to create their "Wrestler Name." What's concerning about this game?
A) Some people may not have ever had a pet
B) You don't know your mother's maiden name.
C) That's not how wrestlers get their names.
D) They could use this information to access people's financial accounts.
Correct Answer: D. Any kind of online game that requires you to share any sort of personal facts or information - first car, where you were born, details about your family, etc. - could make you vulnerable to fraud.
6. What’s the danger in calling back a number after a scammer “hangs up”?
A) You’re still connected to the scammer
B) You might get a busy signal
C) You’ll reach customer service
D) It’s a prank
Correct Answer: A. Scammers have technology that allows them to simulate hanging up the phone, when in reality they are still connected. If you are asked to call back to confirm your financial institution's identity, disconnect and dial the verified number on your credit or debit card to confirm.
7. You get a phone call claiming to be from your credit union offering a “limited-time holiday loan.” They ask for your online banking login to pre-approve you. What should you do?
A) Provide your credentials quickly before the offer expires
B) Hang up and call your credit union directly using their verified number
C) Ask them to text you the details
D) Keep them talking to learn more
Correct Answer: B. Scammers use urgency and fake promotions to pressure you. Always call back using your institution’s verified phone number before giving any information.
8. What’s the safest way to update your banking app?
A) Click the link in a text message
B) Download it from an official app store
C) Use a shortened URL
D) Wait for a letter in the mail with a QR code to scan
Correct Answer: B. Your financial institution will never ask you to update your app by clicking a link, scanning a QR code, or through anything except the official app store.
9. What’s a good habit to prevent falling for ad-based phishing scams?
A) Bookmark your financial institution's official website
B) Click on the first ad you see
C) Search for your credit union or bank using emojis
D) Use public Wi-Fi for banking
Correct Answer: A. Scammers are smart and can create false advertisements that lead to suspicious web pages. If your bank or credit union is advertising something, you should be able to find more information about it on their website as well as through advertisements.
10. If you think you’ve fallen for a scam, what should you do first?
A) Post about it on social media
B) Delete your email account
C) Call your bank or credit union immediately
D) Change your phone number
Correct Answer: C. The faster you get in touch with your financial institution, the faster they can resolve and shut down any suspicious activity with your account.
All finished? How many did you get correct?
- If you correctly answered 8-10 questions, congratulations! You're already well on your way to avoiding fraud, no matter what form it comes in.
- If not, don't worry - you probably learned a new way to avoid fraud from this quiz, and that's fantastic all on its own.