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Spoofing fraud is on the rise! September 26, 2023

Nymeo and other financial institutions across the country continue to see spoofing on the rise. Spoofing is a type of cyberattack or deceptive technique where a person or system disguises their identity or pretends to be someone else to gain unauthorized access, manipulate data, or deceive others. It can involve phone calls, emails, and text messages that appear to be from your financial institution with the sole purpose of tricking you.

There are various forms of spoofing being used right now including:

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Email and Text Spoofing

Criminals are spoofing financial institutions’ phone numbers and calling or sending fake SMS text alerts that impersonate staff or the fraud department. Their end goal is gaining access to your personal information and bank accounts.

Phone call spoofing

Some fraudsters are impersonating employees from financial institutions, such as Nymeo, saying they are a specific employee from the credit union or bank. They may even invite you look them up online to prove legitimacy.

Fraudsters also can fake caller ID information to make a call appear to come from a different phone number. A good rule of thumb is to hang up and call your financial institution directly using the number from the website. Don’t use the call-back number on the phone because the call may go back to the fraudster.

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What to look out for

Nymeo will never (nor should other financial institutions) ask for personal information. We won’t call and ask you for your complete credit/debit card numbers; card PIN numbers, CVV numbers and security codes; online banking user ids or passwords; or your Social Security numbers.

Remember, never share your login credentials. This information can give a criminal immediate access to your account. If you receive an unsolicited call and the caller asks for personal information, hang up. This is most likely fraud.

Spoofing can have serious consequences, including identity theft, data breaches, and financial losses. It is often used in conjunction with other cyberattacks to make them more effective.

What to do if you've been a victim

If you have concerns about a suspicious communication you've received or responded to, please contact us at 855-436-4100. You can also send us a secure message using online banking or stop by a Nymeo branch.

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Category: Financial Literacy & Safety

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