Security News

The safety and security of your financial information is of the utmost importance to MSUFCU. As students are returning or starting their education, there are specific scams to be on the lookout for that target students.

Employment scams:
Students seeking jobs or internships through campus or online postings should be wary of fraudulent job posting sites and job offers. Be sure to do your research on any recruiters or businesses that are reaching out offering a job before providing any information or negotiating a check received at the start of a new job. Often, fraudsters posing as legitimate businesses and offering jobs will send fraudulent funds to either pay students in advance or ask them to perform tasks with the funds. Quite often, checks are sent either via email or through the mail, requesting the student negotiate the check. This is a red flag that it is fraud. In other instances, students may be asked to disclose their account information or account credentials, in which fraudulent funds might be sent to students or the students account is taken over by the fraudster.

Loan scams:
Students may be seeking financial assistance and apply online or be approached online by someone who offers to provide financial assistance, or may be looking for student loan debt relief. Fraudulent websites exist that will appear legitimate for financial (educational or other) assistance or debt relief assistance. Fraudsters also will initiate contact from social media postings or other online channels in which students might post a need for financial help. Fraudulent funds will then be given to the student. Checks are the most common channel for this scam as well, but fraudsters might also ask for access to their account through log in credentials or account and routing number. Students should research and verify the legitimacy of the company offering assistance. Students can reach out to their financial institution for assistance in reviewing whether a transaction or check is legitimate.