As part of their ongoing commitment to financial education and empowerment, Genisys Credit Union is providing the knowledge and tools to identify and prevent financial fraud. As scams and financial fraud continue to rise, it is important to be aware of how these crimes work and steps you can take to safeguard yourself.

Financial fraud can take various forms including: identity theft, phishing scams, phone call/text scams, fraudulent investment schemes, and more. To help individuals recognize warning signs and avoid falling victim, the credit union offers the following tips: 

• Stay vigilant: Be wary of unsolicited emails, phone calls, or text messages requesting personal or financial information. Fraudsters are known to use deceptive tactics to trick individuals into disclosing sensitive information 
• Verify sources: Before providing any information or making financial transactions, verify the legitimacy of the organization/individuals contacting you. Use official contact information obtained from reliable sources such as the website of the financial institution or a visit to their local branch location.  Remember, just because the Caller ID looks accurate, it could still be a scammer. If you are not expecting a call from your financial institution, hang up and call them back at a verified number you have
• Protect personal information: Safeguard personal and financial information by using secure passwords and not repeating passwords across multiple accounts/sites, avoid sharing sensitive details on public platforms, and shred documents containing confidential data
• Monitor accounts regularly: Regularly review your bank statements, credit reports, and online accounts for any unauthorized transactions or suspicious activity. Promptly report any discrepancies to your financial institution. Set up alerts for credit and debit card activity to stay in the know
• Set up and monitor eAlerts: Set up and monitor your account via eAlerts to receive email or text alerts for account balances, cleared checks, debit/credit card authorizations, debit/credit card postings, deposits to your account, pending withdrawals, ACH withdrawals, and many more

For members of the credit union, Genisys or their card security services will never ask members to verify the following information: 

• Personal information including: member number, date of birth, and social security number
• Full or partial debit, credit card or PIN numbers
• Online/Mobile banking credentials
• A one-time verification code or link that was sent
• “Test” transactions that you did not complete as legitimate

The credit union remains committed to raising awareness about current financial fraud trends. Recent examples include: 

• Text message scams posing as the credit union stating there has been an unrecognized attempt on a member's debit and/or credit card
• Phone scams posing as the credit union stating there has been fraudulent activity on a member's credit card
• Claiming a credit union representative will come to your home to pick up a debit card that we have closed due to fraudulent activity

If you become a victim of fraud, it is important to take immediate action to reduce the impact and protect your finances including: 

• Contact your financial institution: Notify your financial institution immediately to report the fraudulent activity and request assistance in securing your accounts
• File a report: Depending on the nature of the scam, the incident will need to be reported to relevant authorities including: the Federal Trade Commission (FTC), local law enforcement agencies, and credit bureaus to document the fraud and initiate any needed investigations
• Manage Card Access in Card Controls:  Card Controls allow you to manage when and how your cards are used. If you suspect fraud on your cards, turning them off in card controls will protect your account from additional transactions coming through until you can contact your financial institution
• Update security measures: Enhance security measures by updating passwords, enabling multi-factor authentication if it is already not being utilized, and continue to monitor accounts for any additional unauthorized activity

A full list of government agencies where different types of fraud can be reported, can be found through the U.S. Department of Justice (DOJ) at: www.justice.gov/criminal/criminal-fraud/report-fraud; cases of fraud can also be reported to the Federal Trade Commission (FTC) online at: http://reportfraud.ftc.gov or by phone at: 1-877-FTC-HELP or 1-877-ID-THEFT.

As scams become more technologically advanced, it is imperative to remain vigilant about your financial activities. Genisys Credit Union is here to empower individuals to safeguard their finances by providing resources and promoting proactive measures to achieve greater peace of mind.

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