What You Need to Know About the ATM Cash-Out Scam

by Alicia Palelej | Aug 17, 2018

You may have heard that the FBI is warning financial institutions that a large-scale “ATM Cash-Out Scam” could take place as soon as this weekend.

An ATM cash-out scam involves using malware to illegally access card information and make changes to account balances and security settings,  allowing the criminals to access an unlimited amount of cash. Criminals use stolen card data to create false copies of legitimate cards, which can then be used to withdraw funds from ATMs.*

Member security is SF Police Credit Union’s top priority. We are aware of the FBI recommendations and will act accordingly to keep your information safe. In addition, please make sure you are following security measures to keep your cards safe.

What you can do to protect your cards:

  • Monitor your financial accounts. Make sure to check your accounts (checking, savings, and credit card) for suspicious activity. Enrolling in Online Banking allows you to check activity frequently.
  • Reset your account passwords. For your security, changing the passwords and PINs associated with sensitive accounts is recommended.

  • Protect your PIN. If possible, use terminals with chip readers when making purchases in stores. When entering your PIN at ATMs or check out terminals, cover the keypad with your hand.
  • Don't respond to unverified requests for personal information. Be suspicious of phone or email solicitations for private identifying details. Remember, SFPCU will never ask for your personal information by phone, email, or text message. When in doubt, hang up the phone or delete the suspicious email and contact us directly to confirm if and why we need personal information from you.

*Source: CBS News.

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