There has been an uptick in reported fraud activity hitting banks and credit unions wherein the fraudsters spoof a FI's phone number. We have been hit with this activity recently in which the fraudsters contacted members with our spoofed phone number, purported to be credit union employees and tricked some of our members to give up online banking credentials.
Obviously, member education is key. We've been putting notices on our website, sending emails to the membership, putting up notices at the branches, etc. As of now, I do not see a viable way that prevents our phone number from being spoofed or a way to monitor if our number is being spoofed. I believe it's even pretty easy to change the outgoing phone number on a cell phone...
Are any of you seeing these types of attacks? Do you have any suggestions, tactics, or automated software you're using to prevent or detect fraudulent activity?
Any tips would be greatly appreciated!
Thank you,
Aya Suzuki
AVP Risk Management
Noble Credit Union
