How to Avoid Smishing Scams
June 6, 2023
We’ve all gotten them – texts from unknown numbers and suspicious sources. In today’s digital world, attempts to defraud us with text message scams, known as “smishing”, appear to be on the rise. In this Fraud Prevention Series blog, learn all about smishing, how to indentify these fradulents texts, and how to protect yourself from them.
What is Smishing?
Smishing (“SMS phishing”) is a text message scam. It occurs when individuals fraudulently pose as a trusted institution, such as OU Credit Union, in an attempt to retrieve personal and financial information about you.
A common theme with smishing messages is to have a sense of urgency, such as warning you about needing to pay off an overdue bill. Or, it may try to tell you that you have won a prize. The message will likely contain fraudulent external links that if clicked, will potentially download malware to your device or steal your personal information.
Familiarizing yourself with these signs is a great start in protecting yourself against fraudulent behavior.
What Happens if I Receive a Smishing Text?
If you receive a message appearing to be from OU Credit Union or another trusted institution that you think could be a smishing attempt, do not reply or click on any links within the message.
Then, it is important to notify OU Credit Union or the other institution immediately. Receiving a suspicious text message does not always indicate a potential scam, but it is best to take precautions and report these types of messages directly to the Credit Union.
Tips for Keeping Your Account Safe
While OU Credit Union works to ensure your account is safe 24/7, there are also ways you can make sure your financial information is protected. Here are three:
- Create a strong username and password that is unique to you
- Don’t provide your information to others if the communication was not initiated by you
- Utilize safety features your financial institution provides, especially when making purchases online, like OU Credit Union’s CVVKeyTM
OU Credit Union also provides information on ways to protect yourself with our Fraud Prevention blog series and other resources and tips that can be found on our website.
Reminder: Oakland University Credit Union will never call you asking for personal or sensitive information. Please notify us if you receive a suspicious call, email, or text message from someone claiming to be from OU Credit Union. For more tips to recognize fraud, visit oucreditunion.org/securitycenter.
Tags: Fraud Prevention Series, Tips and Tricks