Fraud Alert: Phishing

We'll never ask for personal info.
By Jeanine Bader
February 24, 2009

With every economic downturn comes the inevitable increase in fraud cases as unscrupulous people turn to scams to replace lost income. New phishing scams are affecting financial institutions statewide, so be extra vigilant in protecting your personal information.

What is Phishing?

Phishing (pronounced "fishing") is a common form of identity theft. It happens when thieves act as if they are representing a reputable organization and try to "hook" a consumer into providing personal information which they then use to steal the victim's identity or to access and use their account information. They often pose as a financial institution, credit card company, on-line merchant, internet service provider, government agency or prospective employer. The thieves contact their victim either by telephone call, text message or email and inform the victim of the need to provide personal information. They use scenarios like "We're updating our records" or "We have lost information due to a computer problem". They have even used "We've identified fraudulent activity on your account," then they encourage people to act immediately and sometimes threaten with fees or the closure of accounts to get the victims to provide their personal information. Once a consumer falls for this scheme, the thieves can do continuous damage.

How can I protect myself?

• Never respond to unsolicited phone calls, emails or text messages that direct you to divulge personal identifying information such as account numbers, passwords, PIN numbers, social security numbers, etc. Reputable businesses, including Deseret First Credit Union will never ask you for this information unless you initiate the transaction.
• Report suspected scams to dept.fraudsecurity@dfcu.com or call 801-456-7131 as soon as possible.
• Consider purchasing additional identity theft protection, which can help you recover in the event you become a victim. You can inquire about this product at any branch or by calling 801-456-7131.

At Deseret First we are committed to serving our members and protecting their best interests.