Security Tips General Information
WHY, WHEN, AND HOW WE WILL CONTACT YOU.
KTVAECU® will never contact you to ask for online banking login credentials, account reset codes, PIN, debit/credit card numbers, social security, or account information.
However, there are times when we will need to contact you regarding your accounts. When we contact you, we may ask questions to validate your identity, but we will not ask you for complete account numbers, card numbers, or online credentials.
If someone contacts you asking about personal information, below are some tips to help verify identity and maintain security.
- If you question the identity of the call, ask for their company contact information, tell them you need to call them back later. Then verify their information by calling the company at the phone number provided on their website.
- Never provide personal information over the phone, including full social security numbers or account numbers. Businesses using this information to verify your identity will most likely only ask you to confirm the last four digits.
Strong usernames serve as an extra layer of security for your accounts. Using a simple username, like first initial and last name, makes it easy for potential hackers to guess your login and access your information.
Need to update your Online Banking username? Here's how:
- Log in to OLB or the mobile app
- Select User Options
- Click Change User ID
- Enter new username
Currently, NCUA does not allow credit unions to sell or hold cryptocurrency. KTVAECU® does not perform sell or hold transactions with any form of cryptocurrency (Bitcoin, Litecoin, Dogecoin, etc). Beware of any comments, reviews, or posts on Credit Union social media pages or website about Bitcoin transactions or transactions with any form of cryptocurrency.
Members calling the Credit Union may be asked additional questions to verify identity. As a result, longer hold times may occur. The Credit Union strives to provide peace of mind when Members conduct transactions in a branch, over the phone, or online.
Knoxville TVA Employees Credit Union continually works to keep Members protected a top priority! If you have any questions, call (865) 544-5400 or (800) 467-5427.
Even though all our debit cards are contactless, they also contain a magstripe and EMV chip if you prefer to use these methods. Unlike magstripes that contain full card information easily obtained through skimming devices, contactless chips are encrypted to only include partial card details and do not include enough information for the card to be used.
Protect Yourself Against Fraud
Criminals around the world continually search for new ways to access your money and personal information. While KTVAECU takes many precautions to keep your money and information safe, it is also important to stay up to date on ways you can keep your information secure.
COMMON SCAMS
Scammers try anything they can to get your information from you. Scams can be creative and can vary from one scammer to another. Scammers work hard to be as convincing as possible. Below are some of the most common scams.
Phishing Scam – Fraudsters email you pretending to be a credible company or institution to get your personal information.
Vishing Scam – Fraudsters leave voicemails pretending to be a credible company or institution to get your personal information.
Imposter Scam - A fraudster contacts you pretending to be someone they are not. They may claim to be from the IRS, technical support, law enforcement, or even family members.
Healthcare Scam - Scammers contact you posing as a health care agency to get your social security number, financial information, or insurance information.
Money Mule Scam - Scammers send you money and ask you to either send it back or send it to someone else, most often by wire transfer or in the form of gift cards, making you a “money mule.”
Charity Fraud - A scammer contacts you attempting to get a donation to a fraudulent charity.
“You’ve Won” Scam – Fraudster calls, emails, or even mails you a letter stating you have won a contest.
CYBER SECURITY
As dependent as we are on the internet, more and more personal information ends up online for fraudsters to find. Here are some tips to keep in mind while browsing.
Passwords – Strong passwords keep your information safe from hackers. Use a combination of capital and lowercase letters, numbers, and special characters for extra-strong passwords.
Antivirus Software – Always use some form of antivirus when browsing and make sure it is up to date.
Privacy – Mobile and web browsers both have settings to protect your private information. Many major websites like Facebook and Twitter offer advanced privacy settings as well.
Downloads – Be extra cautious whenever downloading files or software from the internet. Always make sure you are on a trusted site and know what you are downloading.
IDENTITY THEFT
Millions of people fall victim to identity theft every year. It can happen to anyone, regardless of social or economic status. Identity theft occurs when a criminal gets someone’s private information and uses it to commit fraud. This information can be used to apply for credit and loans, open bank accounts, open phone, cable accounts, and even get medical services. Identity theft can ruin your credit, cost you money, and take a tremendous amount of time to correct.
How does identity theft happen?
There are numerous methods scammers use to get access to your information. One of the main ways is phishing, where scammers will email you pretending to be a credible company or institution to get your personal information.
Fraudsters also steal information using skimming devices. Skimming devices are placed over card readers. Whenever you use your card on a compromised terminal, these devices read and copy your card information for the criminals to use.
Your information can also be compromised in more traditional ways, like dumpster diving, stealing your mail, or even stealing the data directly from your purse or wallet.
How can you prevent identity theft?
The best way to prevent identity theft is to be vigilant. Do not keep your social security card with you, and only provide your social security number when necessary. Always verify who is asking for your information before you send it to them. Shred receipts, credit reports, applications, and statements to prevent scammers from finding your info in the trash. Be careful when browsing the internet and do not enter financial information until you have verified the website asking for it. Use strong passwords to avoid account hacking.
If you believe you or someone you know is a victim of identity theft, report it to the proper authorities.
ELDER FINANCIAL EXPLOITATION
Elders are some of the most at-risk communities for financial exploitation, and it isn’t always obvious when it happens.
What is it?
Elder financial abuse occurs when an elderly person’s money or property is misused to benefit someone else. Elder financial exploitation can be perpetrated by family members, caregivers, financial planners, and even strangers. Anyone who has access to the elderly person’s property can be a culprit.
How do you prevent it?
For Potential Victims: One of the best ways to prevent elder financial exploitation is a financial management plan. You can start by asking questions like, “In case of emergency, who should have access to my accounts?” or “Do I have a will, and is my will current?”
Always be extra vigilant when filling out paperwork. Do not sign any documents until you understand the purpose. Likewise, be careful who has access to your bank accounts.
For Loved Ones: Keep in regular contact with your elderly loved ones to monitor their well-being. If comfortable, have yourself added to their accounts. Become familiar with caregivers and anyone they’re spending time with regularly. Set up direct deposit for checks so others cannot cash them.
If you suspect someone is a victim of elder financial exploitation, report it to the proper authorities. Check out our blog for even more ways to protect your loved one from elder abuse.