We are aware of a phone scam that is currently targeting local phone numbers. These scammers are masking their phone numbers to appear as if they are calling from our public phone number, identifying themselves as UMassFive Fraud Department representatives, and asking you for your banking information (such as card numbers, online banking credentials, pin numbers, social security numbers and/or account numbers), or asking you to verify or stop illegitimate large purchases on your UMassFive card.
While we do have a service that may call you to identify a transaction that we thought looked suspicious, remember, we have your banking information, and outside of questions to verify your identity, we will never ask for sensitive account details.
Red Flags of Fraud/Scams
- Unnecessary pressure from the person on the other line to supply information, even if they are pretending to be UMassFive.
- Asked to pay in an unusual way i.e. gift cards, bitcoin, prepaid debit cards.
- UMassFive will never ask you to transfer money to anyone.
- Never cash a check from someone you don't know.
The Latest Fraud/Scam Tactics
Smishing and Vishing are the latest schemes being used by scammers to deceive cardholders into revealing critical information, and to disregard legitimate fraud warnings.
Smishing: The fraudulent practice of sending text messages claiming to be from reputable companies to encourage individuals to reveal personal information, such as passwords or credit card numbers.
Vishing: The fraudulent practice of making phone calls or leaving voice messages claiming to be from reputable companies encouraging individuals to reveal personal information, such as bank details and credit card numbers.
Here's the important part: With both of these tactics, cardholders may be sent a voice or text message with transaction details requesting the cardholders to confirm legitimacy. When they respond, they may be questioned for account details, or they may be asked to call back a number to provide account information—leading unsuspecting cardholders to give the scammers the information they need to actually attempt fraudulent transactions. In some instances, the technology is advanced enough that they are sent a one-time passcode (OTP). The caller or text message then instructs the cardholder to reply “No Fraud” to text/voice messages to ensure that when their fraudulent transactions are caught by our real fraud protection services, they are approved as legitimate by the victim.
So how can you be certain that a fraud alert is real? The easiest solution is to turn off your card in Online or Mobile Banking to prevent any unauthorized transactions, and call us directly at 800-852-5886 if a text or call seems phishy.
Scammers may pose as businesses or people you know — like your bank, utility company, phone provider or even a friend or relative. They may ask you to send funds to yourself or others using online or mobile banking, and even spoof legitimate phone numbers to call or text you to make the request more convincing.
While UMassFive may send you a text to validate unusual activity, we will never contact you to request that you send money using Zelle® to anyone, including yourself or to share a code to resolve fraud. The “representative” or scammer will offer to help stop the alleged fraud by asking you to send money to yourself with Zelle® and ask for a one time code you just received from a bank. If you give them that code, they will use it to enroll their bank account with Zelle® using your email or phone number.
How to help protect yourself: Be cautious if being pressured to respond immediately - this is what scammers want you to do. Be wary of unfamiliar calls, computer messages, texts or emails requesting money or personal information - it's not always who it says it is. Verify you are sending to a trusted recipient by calling a trusted or verified phone number from a recent bill, receipt or by visiting an official website. Don't share codes based on a call you receive.
If you inadvertently provided a caller with any of your UMassFive banking information, or responded by answering yes to a fraudulent text message, please monitor your accounts online and notify us so we can close or block the accounts affected to prevent actual fraudulent transactions.