During the holiday season, financial institutions tend to see an increase in fraud and social engineering scams. On top of that, the COVID-19 pandemic has led to an increased use of digital banking and in response, fraudsters are also taking advantage of the pandemic to victimize consumers.

In one common scam, bad actors will send text messages and emails pretending to be from a financial institution’s fraud department. The text/email will provide a phone number to call to resolve an attempted fraud on their account. When users call this number, the fraudsters will request login credentials to their online banking profile. If access is given, the thieves will then have the ability to transfer funds out of your accounts through various products.

Here are some important tips to help keep you and your finances safe in the new year.

• Never attempt to contact GE Credit Union through any unusual number you received through email, text, or other unsolicited means. Contact your local branch at the number listed on our website or call our customer service number: 800.992.8472.
• Never share your online or mobile banking passwords nor your credit/debit card PIN with anyone who is not authorized to have access to your account.
• Never click on links in unsolicited emails or texts.
• If you receive a call for mobile one-time passcode authorization that you did not request, do not respond to the text or call to validate the login.
• Never trust caller ID as this can be modified to show a financial institution’s name and phone number.

If in doubt, call GE Credit Union directly at 800.992.8472.