Scam Alert: Account Takeover Scams
Bank account takeover scams are on the rise, with fraudsters using stolen credentials to access and drain victims’ accounts. Here’s how these scams work and what you can do to protect yourself.
How Bank Account Takeovers Happen
Scammers use phishing emails, phone calls, texts, and malware to steal login credentials. Once they gain access, they can change passwords, transfer funds, and even open new accounts in your name.
Warning Signs to Watch For
- Unexpected login alerts or password change notifications
- Missing funds or unauthorized transactions
- Calls, texts, or emails requesting account verification
- Locked accounts without reason
If you notice any of these red flags, act immediately and call the Member Contact Center (800) 777-6728.
How to Protect Yourself
- Use strong, unique passwords and enable multi-factor authentication (MFA)
- Never share login details or click suspicious links
- Monitor your statements and account activity regularly
- Contact your financial institution immediately if you suspect unauthorized access
Staying vigilant and securing your accounts can help you avoid becoming a victim of this growing scam.
