Scammers are impersonating banks to get into your account. It’s called “smishing” and experts are reporting a rise in this type of fraud.

Some call it the most dangerous bank scam ever: A text from your bank stating your account has been locked for fraud. That’s scary enough, but if you fall for it, it can be even scarier.

*Important note: Rockland Federal Credit Union will never request your online banking login credentials – whether you receive communication via text, phone or email.*

How does smishing work?

It starts with a text from a financial institution saying your account has been locked for fraud.

And how do these scammers know if you have an account with that particular bank?

They don’t, according to the FTC.

The scammers send these texts randomly. They know that if you do have an account with that bank, you’re going to pay attention.  They target individuals regionally based on where a bank or credit union has branches located. For example, they may target members in a 781 area code with a text using Rockland Federal Credit Union’s name. 

The message usually states something similar to the following:

• “Suspicious activity has been detected, but we can assist you.” <includes a link>
• “Your account has been locked due to suspicious activity.” <includes a link>
• “Your online banking has been locked due to suspicious activity.” <includes a link>
• “RocklandFCU: We have detected some unusual actions on you’re A/c. Please confirm it by logging here <includes a link>”
• “Rockland Federal Credit Union Transaction Date: 03.01.22 Amount: $80.15 <includes link> If you did this action, Do not reply.”

If you click on the link and enter your account information or online banking credentials – you are unknowingly giving your information to scammers. Once they have your login, they can change your user name, password, make transfers of money – anything you would be able to do with a legitimate login yourself.

What should I do if I receive a suspicious text?

The FTC says that if you receive a suspicious text from your bank….

• Do not click any links.
• Do not call a phone number in the text, as it may be the scammer’s number.
• Never give your account number to someone who texts you.

To contact Rockland Federal Credit Union, call us at (781) 878-0232 or send us a secure email directly from www.rfcu.com. 

Stay alert and keep your money safe!