Fraud Continues to Increases Nationwide

CREDIT CARD 1Unfortunately this increase is being felt here at the EEFCU. We are constantly working with our Visa Check Card processor to update our security measures as the newest fraud protection means become available. The EMV Chip Card is helping to prevent many fraud attempts, however, many merchant machines have not made the switch from the swipe type machines. Even with the best and most updated security measures, the best defense comes down to you, using your card at safe and secure establishments or sites, guarding your PIN number and personal information, and routinely checking your account activity several times per day.

While there is nothing any of us can do with large data breaches, such as the one at Target or Wendy’s that happened a few years ago where hackers were able to get into and steal their records, then sell the records, and create fraudulent cards, there are some simple ways that you can protect yourself.

  • First of all, and most obviously, do not give your card, PIN number, or personal information to anyone over the phone.   This includes people calling you – people trying to reach you about a concern on your account should already have that information and not need you to provide it. Friends, boyfriends & girlfriends, family members, etc. – often relationships can change, but once they have your information you don’t know what they may do with it.
  • If you choose to use your card online, look for a safe and secure site. If you are unsure don’t put in your information. Remember, your EEFCU Visa Check Card is a debit card, linked to your checking account. If that information is stolen, your checking account is at risk. The EEFCU does not allow your card to be used for out of country transactions without your approval. If you need to use your card to purchase from an out of country provider, you need to let us know so we can “unlock” that transaction for you. In addition, if you are traveling out of country and you want to use your card we need to know so we can “unlock” your account for a period of time to those countries.

If you are someone who does shop regularly on line, we can offer you a couple additional ideas to protect yourself :

  • Open a checking account with a separate Debit Card, that can be used specifically for your online purchases. Never keep more in that account than needed and do not link it to your other account.
  • Get a Pre-Paid Visa TravelCard though us to use. It is designed to be refillable at no charge. It is not linked to your account in any way.
  • When using your card at an ATM or merchant, be aware of the machine and don’t use it if any thing looks odd or out of the ordinary, such as the card slot looking tapered with or additional parts looking attached. Also be aware of your surroundings, make sure no one is watching you or filming you as you enter your PIN or taking pictures of you card as you are holding it.

We at the EEFCU want to assure you that we are doing everything to stay on top of this growing problem. If you have any questions, concerns, or would like more information give us a call or stop by.