We have been recently contacted regarding a new type of Smishing fraud that credit union members have been a victim of.
The key features of this particular fraud are:
- Member receives unsolicited messages from an unknown number
- The messages typically claim to be sent from a son/daughter of the member
- The messages state that the sender has lost/damaged their mobile phone, their bank cards have been cancelled, have no access to funds & request an urgent payment to be sent to a 3rd party (in this context the Payee name and the IBAN is provided in the message)
- The fraudulent payment transfers were undertaken both online and over the counter in the credit union
Please ensure all your staff/volunteers are briefed on this emerging fraud.
Reminder: The BPFI FraudSMART website contains useful information relating to all types of fraud that may assist you with staff training and member communication.