SCAM ALERT!

Be on the alert for scams using Venmo or any other app, to "help" a friend out of a jam. We received a fraud/scam report from one of our members who lost $5,000.

Here is a little synopsis of what happened;
Our member was called from his “friend’s phone number”. It sounded like his friend on the phone, asking for money. They asked if they could transfer Venmo funds to him, and then for him to transfer to his account at Credit Union of Denver. He was then asked to turn around and send the money to that “friend” aka: scammer via Cash App.

Our members are nice and they care about their friends and family. This is a vulnerability that fraudsters prey on. Our member didn’t hesitate in helping as he’s helped this friend out before, and since the phone number was spoofed, he thought he was talking to his friend. After the funds were transferred, he was then asked to download an app called “Any Desk,” and that’s when the member realized this was a scam and someone had remoted into his friend’s phone (most likely through the app they asked him to download) and was attempting to do the same to his phone.

First rule of thumb for any request for money… verify the source independently from the request.
Call them, meet them, text them, but make sure you reach your friend personally to verify who they are. Ask questions only they will know the answers to.

Make arrangements that make sense. Never download an app you are unfamiliar with or that someone has asked you to use for money transfers. Hackers are clever. Be on alert!

Don’t fall victim to these ploys. We partner with Stickley on Security to provide you with the latest information regarding security and identity risks.

Visit our Security Center to learn more about the latest scams. Sign up for the News & Alerts (green button next to the title) email newsletter and receive the latest intelligence on fraudsters.