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CreditAbility Workshop

When it comes to your credit, do you know the score?

Learn about credit, credit reports, credit scores and your rights and responsibilities at a free CreditAbility Workshop.

Thursday, May 22, 2008 at 5:30 p.m.
Magnolia FCU Board Room
240 Briarwood Drive, Jackson

Please register by calling
601-977-8300 or email
education@magfedcu.org


Vishing Alert

Credit Unions members are falling victim to “vishing” attempts. Read more...


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Vishing Alert

September 4, 2007

Vishing is Targeting Credit Unions

Credit union members are being targeted by "Vishing" to steal information via e-mail and phone. The term is a combination of "voice" and phishing. A recent example of fraudster ingenuity is the use of Voice over Internet Protocol (VoIP) phones to steal member's financial information. This scam is called "vishing" -- short for "voice phishing."

There are at least two "Vishing" methodologies scammers use.

Online version

The scammer sends a blast e-mail, disguised to appear as though it’s from your credit union, bank, online payment service or other well-known business. The e-mail, which may have a trusted logo, typically reports a "security" problem with the recipient’s account and urges the member/member to call a telephone number to "straighten things out."

Although many members know better than to click on hyperlinks in strange e-mails for fear of being "phished," they often feel safe calling a telephone number that appears to be local or toll-free. When the member calls, they reach an automated attendant prompting them to enter their account number, password or other private information for "security verification" purposes.

Cold Call

Some "vishers" use automated dialing programs to "cold call" members. The member’s caller ID device may list a legitimate-looking local phone number, to inspire trust from the recipient. A prerecorded message (or sometimes a live "employee") claims the member’s account has been compromised or needs updating or verification. The member is asked to enter their account information, which is digitally transcribed onto the hard drive of the scammer’s computer. If you’ve been a victim of phishing/vishing, contact your financial institution immediately and request the following actions:

• Block and reissue any compromised credit/debit/ATM cards;

• Change passwords/PINs on all cards and accounts accessible online

Then, contact the credit bureau to:

• Report the incident

• Order a credit report

For more information contact your Magnolia Federal Credit Union member services department at 601-977-8300.