Hello? Who’s Calling?

by Emily Strandwitz, Fraud Operations Manager 

Impersonation calls are on the rise. Find out what to look out for and how to protect yourself and your money. 

What is an impersonation call? 

Using readily available technology, scammers are able to pretend to be someone they are not through the phone. They often pose as typically trustworthy sources: law enforcement, a phone or internet provider, or even UW Credit Union.  

During the call, the scammers will attempt to manipulate their target into providing sensitive information such as online credentials (like a username or password), account or card numbers, or identification details (like a social security number). 

The high cost of impersonation calls 

According to the Federal Trade Commission (FTC), impersonation calls account for nearly half of fraud reported by consumers. In 2023, reported losses for these kinds of scams topped $1.1 billion from approximately 500,000 incidents.

While these calls aren't new, the tactics scammers are using have changed significantly since 2020. Instead of starting with a phone call, most of these scams now start with a text message or email. 

Remember these four ‘ifs’ to protect your money  

1. If there's a link, don't click it. It could lead you to a fake site or even download malware (malicious software) to your device. Be especially careful if the text message or email references an unrecognized transaction or subscription. Cross-check your account to see if there's a pending transaction; if there isn't one, ignore the message. 
2. If they're asking you for full card numbers or your login credentials (Web Branch password), hang up the phone. UW Credit Union will never ask for the password you use to log in to your online banking.  
3. If they're requesting a code that contains the words DO NOT SHARE, never share that code. UW Credit Union does not need codes containing that phrase to assist you. That is the scammer trying to authorize transactions on your card or log in to your online banking. 
4. If they're attempting to create a sense of urgency (ex: “we have to fix this right now!") or trying to get you stay on the phone ("no, don't hang-up!"), you're talking to a scammer. End the call immediately.  

Help! I think I might have been impacted by an impersonation scam. 

Contact us at 608-232-5000 so we can assist with securing your accounts.