July 11, 2024
An unsuspecting member was contacted by phone and convinced that they had recently received a $20,000 payment to their account mistakenly and the problem easily could be addressed by going to a credit union branch, redrawing the money, and returning it.
It didn’t sound fishy on the phone, but it raised multiple red flags when the member visited a branch of La Capitol Federal Credit Union. The fraudsters still were on the phone with the member when he entered the branch ready to withdraw $20,000 in cash to return to the “bad actors.” La Capitol staff recognized the scam and convinced the member not to make the withdrawal.
In just that instance, a 45-year member could have lost their hard-earned life savings at no fault of their own. Scammers can be very convincing and employ various tactics. They call, email, and send us text messages trying to get our money or sensitive personal information — like our Social Security or account numbers. Please note, La Capitol will never ask for your online credentials or your debit/credit card information.
La Capitol works with you to protect your funds and your sensitive personal information. We have compiled a list of fraud and scams situations and ways to protect yourself or steps to take if you have fallen victim:
- You paid a scammer with a credit or debit card: Contact the credit union or bank that issued the card. Tell them it was a fraudulent charge. Ask them to reverse the transaction and give you your money back.
- An unauthorized charge was made: Contact your credit union or bank and tell them it was an unauthorized debit or withdrawal. Ask them to reverse the transaction and give you your money back.
- You were defrauded and sent cash: If you sent cash by U.S. mail, contact the U.S. Postal Inspection Service at 877-876-2455 and ask them to intercept the package. To learn more about this process, visit USPS Package Intercept: The Basics. If you used another delivery service, contact them as soon as possible.
- You are led to believe you are in trouble with the government: The FTC will never threaten you, say you must transfer your money to “protect it,” or tell you to withdraw cash or buy gold and give it to someone. That’s a scam. Report it at ReportFraud.ftc.gov
- Prevention for La Capitol members: La Cap will NEVER ask for your online banking credentials or debit/credit card information. Click here for info on keeping your account safe.
La Capitol works hard to keep your information and accounts safe and secure, but fraudsters and scammers often come up with new techniques. We want to educate and protect members. Visit our Fraud Prevention Center to learn more and sign up for text alerts and credit card features.