Imposter scams can be incredibly convincing because scammers often create a sense of fear and urgency while pretending to be someone you trust.
A recent situation involving one of our members is a real-life example
The member received a call from someone claiming to be from the credit union’s fraud department. The caller told her that the FBI was investigating the credit union and that her money was at risk. She was instructed to move her money to “protect” it and was assured that she would get it back. Following the scammer’s instructions, the member took an Uber to one of our branches and attempted to send a large wire transfer to an unfamiliar recipient. She said the money was for an electric wheelchair, but she didn’t have the recipient’s account information with her. Instead, she returned to the branch a few minutes later with the information after retrieving it from the Uber.
That was just the beginning of the red flags.
There were inconsistencies in the member’s story, including conflicting explanations about how she had found the wheelchair and how she had been communicating with the seller. Her phone was also receiving repeated calls and verification codes during the visit. Worst of all, the amount she was attempting to wire would have drained her accounts. Our team stopped the transaction and investigated further, discovering that an unfamiliar device had recently accessed her online banking. Her contact information and login credentials were also being changed, and transfers were taking place between her accounts.
But the scammer wasn’t finished.
Later that day, the member visited another branch in a different Uber and attempted another large wire. This time, the Uber driver even accompanied her into the branch. The driver later revealed that the ride had been arranged by the scammer. He had received a message asking him to “take good care” of the member and promising a $50 tip. He also told our team that he had been told the wire was for a vehicle purchase, not a wheelchair.
Eventually, the member was able to explain what had happened. She had been frightened into believing that her credit union was involved in an FBI fraud investigation and that moving her money was the only way to protect it.
Thankfully, our team recognized the warning signs and prevented the transfers from being completed. The member also contacted law enforcement and received support from her family.
What can we learn from this?
- Someone creates a sense of urgency.
Scammers want you to act before you have time to think. - Someone tells you to move your money to “protect” it.
A legitimate financial institution will never ask you to do this. - Someone asks for verification codes or login information.
Never share these codes with someone who contacts you unexpectedly. - The story doesn’t quite add up.
Conflicting information, unfamiliar recipients, or unusual payment requests should all raise questions. - Someone is controlling the process.
If someone is telling you where to go, what to say, who to contact, or exactly how to move your money, stop and verify.
When in doubt, stop and verify!
If you receive a call claiming to be from your credit union, bank, law enforcement, or another trusted organization, don’t let fear push you into making a financial decision.
Hang up. Take a breath. Contact the organization directly using a trusted phone number.
Scammers want you to believe you have to act right now. You don’t.
Sometimes, the best way to protect your money is simply to stop and verify before you send it.