Impersonation Scams and How to Avoid Them 

In recent years, financial institutions have become a prime target for impersonation scams via text and email. Also known as spoofing, these scams are becoming more sophisticated, making it harder for members of credit unions and other financial institutions to detect them.

Kinecta is committed to protecting your account and keeping your information secure — learn some of the ways we protect your personal information. However, many criminals target consumers directly when trying to gain access to their accounts, so it’s important for you to understand your role in preventing fraud.

What are impersonation scams?

Impersonation scams are a type of fraud where criminals pretend to be someone else to gain access to sensitive information. They use a variety of techniques to trick their victims into giving them personal information, such as passwords, account numbers, secure codes or online banking credentials.

How do impersonation scams work?

Like most traditional phishing scams, impersonation scams are more targeted and personalized. Criminals will often use information gathered from social media and other online sources or social engineering to craft convincing messages that appear to be from a legitimate financial institution, company or government agency.

These messages will typically ask the victim to click on a link or provide personal information to verify their identity on a fake or cloned website. Once the victim has provided their information, the criminals can use it to gain access to their accounts, leading to identity theft and financial loss.

What can you do to protect yourself?

To protect yourself from impersonation scams, there are several steps you can take:

1. Be wary of unsolicited messages: If you receive a message from a financial institution that you did not expect, be suspicious. Do not click on any links or provide any personal information until you have verified that the message is legitimate by contacting the financial institution directly using a phone number you trust.
2. Verify the sender: Check the sender's email address or phone number to make sure it is from a legitimate source. Be wary of messages that ask you to provide personal information—government agencies or reputable companies will never ask for your personal information via text or email.
3. Don’t assume phone calls are safer: Scammers may try to trick you over the phone by posing as a representative from a financial institution or other legitimate company. If you receive a call requesting personal information, hang up and contact the company directly to verify the legitimacy of the call.

4. Double-check website URLs: Fraudsters often create convincing-looking websites to impersonate financial institutions or other businesses. When visiting websites, always confirm the website address or URL is correct (e.g., www.kinecta.org vs. using kinectafcu or another similar name or using an incorrect domain such as .com).  
5. Use strong passwords: Use strong, unique passwords for all your online accounts, including your financial accounts, and avoid using the same password for multiple accounts. Read about other ways to protect your computer.
6. Enable two-factor authentication: Two-factor authentication adds an extra layer of security by requiring a second verification step, such as a text message or fingerprint scan, to access your account. Read about other ways you can stay safe online.
7. Contact your financial institution: If you receive a suspicious message, contact your financial institution immediately to report it. They can help you determine if the message is legitimate and take steps to protect your account.

In conclusion, impersonation scams are a growing threat to financial institutions and their members. By being vigilant and taking steps to protect yourself, you can avoid falling victim to these scams and keep your personal information safe. Remember to always verify the sender, use strong passwords, enable two-factor authentication, and contact your financial institution if you receive a suspicious message.

Discover more about your security with Kinecta using our Security Center.

If you have any questions or concerns, please contact us. We’re here to help.

Stay safe!