Got a call about fraud activity on your account? It could be a scammer

Is someone claiming they spotted fraud or criminal activity on one of your accounts? Are they offering to help “protect” your money by moving it from your credit union, bank, investment, or retirement account? Maybe they’re even asking you to share a verification code? If anyone has done any of those things, it’s very likely a scam. So, what do you do next?

Never move or transfer your money to “protect it.”
Your money is fine where it is, no matter what they say or how urgently they say it. Someone who says you have to move your money to protect it is a scammer. Period.

Never share a verification code. Ever.
Credit unions, banks, retirement, and investment companies use verification codes for online accounts to prove you’re really you. If you share that code, the scammer can use it to indicate they’re you. Legitimate callers – especially someone from your credit union, bank, or investment company’s fraud department – will never ask for the verification code. That’s always a scam.

Stop and check it out.
If you’re worried, call your credit union, bank, broker, or investment advisor directly. It’s recommended to use the number you find on your statement or on the institution’s official website – never use the number the caller gave you, which will take you to the scammer.

If you are scammed into moving your money out of your credit union, bank, or investment account, there’s very little that can be done to protect you. And unfortunately, you probably won’t get that money back. The best way to keep your money safe is to leave your money where it is and call your financial institution directly.

If you get a call, text, or message like this, tell your credit union, bank, or fund right away – especially if you moved money or shared a verification code. Now that you know, share this advice – it could help protect your friends and family, and their life savings.