Fraud Prevention

Account takeover fraud occurs when a fraudster poses as a financial institution to obtain your personal or account information. Once they have access to your account, they can make unauthorized transactions. Understanding how this fraud works and how to prevent it is crucial to safeguarding your finances.

What is an account takeover?

An account takeover happens when a fraudster gains access to your account by pretending to be from your financial institution. They can then make unauthorized transactions, causing potential financial harm.

How does it work?

1. Initial Contact: The fraudster sends a text message to your mobile phone, claiming to be from Las Colinas FCU’s fraud department. They ask you to confirm a suspicious payment from your account, which is often a fabricated claim.
2. Follow-Up Call: The fraudster follows up with a phone call, asking for your personal information to “cancel the payment.” Remember, Las Colinas FCU will NEVER ask for your personal information over the phone.

How can you prevent account takeover fraud?

• Stay Vigilant: If someone posing as Las Colinas FCU contacts you by phone, email, or text message asking for your personal information, it is likely a fraud attempt.
• Ignore Suspicious Messages: Do not reply to texts or emails that seem suspicious. Ignore the message and do not call any numbers listed in the text.
• End Suspicious Calls: If you receive a phone call that appears to be a phishing attempt, end the call immediately. Be aware that local area codes can be misleading and do not guarantee the caller’s location.
• Report Immediately: If you believe you have been a victim of fraud, contact Las Colinas FCU immediately at 214-273-5094.

By staying informed and vigilant, you can help protect yourself from account takeover fraud. Las Colinas FCU is committed to your financial safety and is here to support you.