Vishing: Telephone Banking Fraud

During these difﬁcult times, fraudsters are discovering new enhanced ways to scam account holders at all financial institutions. Telephone Banking Fraud is a scam that is occurring more frequently worldwide, in which victims are not scammed online, but instead fall victim to a scam over the phone.

How it works is that you might receive a call from someone impersonating a representative from your financial institution. This is called “Vishing” – “voice phishing”. They might inform you of a security issue associated with your account and request that you verify your account information, and will advise you that immediate action is required. This action step typically involves the request of your conﬁdential login details, secure login authorization code, or pin. Unbeknownst to you, the caller on the other end is not from your ﬁnancial institution, but a sophisticated fraudster who may have just gained access from you to your online banking information.

AltaOne and your other ﬁnancial institutions have strong security measures in place, but we must partner together asking you to stay vigilant in guarding your confidential account information.

You can take action:

If you suspect you are a target of Telephone Banking Fraud, hang up immediately and call your ﬁnancial institution using the telephone number on your bank statement or other ofﬁcial document from your ﬁnancial institution.
Keep in mind that a ﬁnancial institution will never ask you to transfer money out of your account to another that you do not recognize.
Never provide ﬁnancial or personal details over the phone; but call back on a number you know is authentic. Scammers can go to great lengths to look authentic.

Keeping a strong economy is important to everyone in our Valley. At AltaOne, everyone’s information safety is important. If you are an AltaOne member and have a question about information security, call us at 1-800-433-9727.

Vishing Infographic
Vishing Video