What is phishing?
Phishing (no, that’s not a typo) is a cybercrime where scammers use deceptive messages to steal victims’ personal information. These messages can impersonate well-known companies, government agencies, celebrities or even people the victim knows. The scammer’s goal is to create a sense of urgency, fear, or curiosity, which often tricks people into clicking a malicious link or providing confidential details.
There are several ways phishing scams play out, including fake emails or texts from financial institutions, phone calls posing as tech support, messages pretending to be from a delivery service with links to “track your package” and fraudulent text alerts about unusual activity on your accounts.
Here are the three most common phishing scams.
1. Email Phishing
Email phishing is the most common type of phishing scam. In this ruse, criminals send fraudulent emails that look trustworthy and encourage you to click a link or download an attachment. For example, an email that appears to be from your credit union or bank may instruct you to verify your account by clicking a link and logging in. Unfortunately, the link leads to a fake website where your credentials are stolen.
Red flags:
- Urgent language
- Generic greetings
- Suspicious email addresses
- Spelling and grammar errors
- Unexpected communication and attachments
2. Vishing (voice phishing)
In vishing scams, scammers call victims and pretend to be representatives from legitimate companies, often pressuring the victim into providing sensitive information. For example, a scammer calls claiming to be from your credit union’s fraud department. They’ll tell you your account has been compromised and will ask for your PIN to secure it.
Red flags:
- Unsolicited calls
- Requests for personal info
- High-pressure and scare tactics
- Spoofed numbers (learn more about spoofing scams)
3. Smishing (text phishing)
Smishing refers to when a scammer uses text messages to trick victims into clicking on malicious links or sharing private information. For example, a text claims there’s a problem with your delivery and asks you to click a link to update your shipping details. The link leads to a fraudulent site.
Red flags:
- Unexpected texts
- Links to unfamiliar websites
- Grammatical errors
- Too-good-to-be-true offers
The examples can be intertwined between the phishing types, so make sure to keep your guard up.
How to protect yourself
Here’s how to defend yourself from a phishing attack:
- Think before you click. Don’t click on links or download attachments from unknown sources.
- Verify the source. Contact the company or organization directly using official contact information, not what’s provided by the person who contacted you.
- Enable multi-factor authentication (MFA) whenever available. This adds an extra layer of security to your accounts. You can enable fingerprint or facial recognition in the MSGCU mobile app.
- Inspect URLs. Before choosing to click or not, hover over links to check for inconsistencies.
- Avoid sharing sensitive information. Legitimate organizations won’t ask for passwords or personal details by email, text or phone. MSGCU will NEVER ask for your online banking password or log-in verification code for fraud protection or to verify your identity.
- Use antivirus software. Keep your devices protected and ensure your software is updated. Learn more.
Phishing scams are a constant threat, but staying vigilant can help you avoid falling victim. Whether it’s an email, phone call or text message, always approach unexpected communications with caution. You can outsmart the scammers one fake email, call, or text at a time!
Remember: Contact MSGCU immediately if you think you’ve been a victim of a scam.
Category: Security
« Return to "Blog"
You May Also Like
Safe Holiday Shopping for You and Your Wallet
During the holidays, you and your finances go through A LOT. Sometimes we get so caught up in what we need to buy and check off the list, we lose sight of protecting our finances and ourselves.
Let MSGCU help keep you protected while also helping you check a few more items off your list.
Shop Safely Online This Holiday Season
Be ready to safely shop online this holiday season with these 6 tips from MSGCU.
5 scams to avoid this holiday season
It’s important to be mindful of online scams, especially now with the busy holiday season right around the corner. Protect yourself from these five common scams.
Video: Cybersecurity Practices Everyone Should Follow
Cybercrime is rampant, so take these preventive measures to keep you and your money safe.
Six Ways to Protect Yourself Against Cyber Attacks
Learn what you can do to safeguard your money and personal information from criminals.
To shred or not to shred?
Read these handy tips to help determine if your items are recycle-bin ready or if you should safely shred them.
Easy Ways to Prevent Identity Theft
We all know how important it is to protect our identity. Read on for tips to prevent thieves from getting information from a place you may not think about: your trash.
Protect Your Finances and Identity While Traveling
Taking a trip or going on vacation is exciting! As you plan what to pack and sites to see, make sure protecting your finances and your identity are on your pre-trip list. MSGCU makes it easy with these tips.
Here’s What You Need to Know About Spoofing Scams
Modern technology has enabled scammers to be sneakier and harder to spot than ever before. Here’s what you need to know about spoofing and spoofing scams.
Stay safe from scams.
Financial institutions are seeing increases in fraud. Learn to spot the warning signs to avoid falling victim from texts like these.
Avoid Student Loan Scams
Student loan interest and payments have resumed from the pandemic pause, which means scammers are back to work. Read on to learn more about common student loan scams.
The 12 Days Scams of Christmas
'Tis the season for scammers to take advantage of the giving spirit and holiday hustle. Read on to help prevent these 12 common holiday season scams.
Keep Your Data Safe Online
A compromised computer can put you at risk for money loss, phishing scams, or even complete identity theft. Read on for steps you can take to keep yourself safe online.
Stay Safe During the Holiday Season
Sometimes we let our guard down due to the stress of the holiday season and thieves may try to exploit that. Read our tips to prevent becoming a holiday victim.
How Text Message Scams Typically Work
Do you know the warning signs of a text message scam? Learn how they work and what you can do to protect yourself.
Fall in Love, Not for Scams
Millions of people are looking for love, including scammers. Or, that’s what they want you to think.
Know the signs of an online romance scam so you don’t end up with a broken heart and drained bank account.
Keep safe from holiday scams
As the holiday season ramps up, keep your season cheery and bright by not falling for these holiday-related scams.
Use These 5 Easy Tips to Protect Yourself Online
We’re all online these days. Whether you work from home, are taking online classes, or simply enjoy scrolling through social media, keep your accounts protected and don’t let them be vulnerable. Protecting yourself online has never been more important.
Scammers are targeting teens and young adults. Learn how not to be a victim.
Young people are often preyed upon by scammers. Read on for more from MSGCU security experts to prevent you, or someone you love, from being a victim.
Scam prevention: Look out for these 7 red flags
Many Americans unfortunately fall prey to scams each year. Read on for seven common red flags from MSGCU security experts to raise your guard and help prevent you from falling victim to a scam.
Cryptocurrency: what it is and what risks to consider
Cryptocurrency continues gaining popularity. Read on for more about digital currency, including important risks to consider.
Know the signs of a Spear Phishing scam
It’s important to remain vigilant to the various types of cybersecurity scams. Learn what to look for so you don’t fall victim to a spear phishing scam.
Partner with us to help protect your accounts.
In addition to MSGCU's behind-the-scenes security features, there are additional tips you can use to help keep your information safe.
7 reasons to go paperless with your bank statements
Making the switch to paperless bank statements (eStatements) gives you added convenience and security benefits, which means less worry for you. Read on for seven reasons why paperless statements may be right for you.
Holiday shopping? Pay by phone to keep safe.
Holiday shopping? Paying by phone using your mobile wallet is a smart, safe choice in the checkout line this year.
How to make your stimulus check work for you