Fraud Prevention & Security

As a part of the Northwestern Mutual Credit Union family, protecting your financial information is important. While fraud tactics continue to evolve, understanding how scams work can help you recognize and avoid them. Northwestern Mutual Credit Union will never ask for your sensitive information. Your security matters to us. We will never ask you to share your password, PIN, verification codes, or Full Social Security Number by phone, text, or email.

Common Types of Fraud

Fraud can take many forms. Being familiar with these common methods can help you recognize and avoid potential threats.

Phishing

• Emails, text messages, or phone calls that appear to come from a legitimate source. These messages often ask you to click a link or provide sensitive information such as usernames, passwords, or verification codes.

Pharming

• A method that redirects you to a fraudulent website without your knowledge—even if you enter the correct web address.

Check Fraud

• Includes stolen or altered checks, forged signatures, or counterfeit items. In some cases, individuals are asked to deposit a check and send funds before the check is returned unpaid. Utilizing electronic forms of payment are an alternative way to prevent this type of fraud.

ATM Fraud

• Criminals may place devices on ATMs to capture card information or interfere with normal operation. If anything looks unusual, do not use the machine.

Imposter Scams

• Someone pretends to be a trusted organization—such as a financial institution, government agency, or service provider—to obtain personal or financial information. When in doubt, hang up and call the direct line.

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Common Banking & Consumer Scams

Telephone Spoofing

• A caller makes it appear as though they are calling from a legitimate number, including your financial institution, to gain your trust.

Account Verification Requests

• Messages asking you to “verify” or “update” account information. These often direct you to a fraudulent website.

Overpayment or Refund Scams

• You receive a payment for more than expected and are asked to return a portion. The original payment is later determined to be invalid.

Mobile Deposit Scams

• You may be asked to deposit a check and send funds elsewhere. If the check is returned, you are responsible for the loss.

Wire and Mortgage Fraud

• Fraudsters may pose as real estate professionals and send altered wiring instructions during a home purchase or refinance.

Cryptocurrency Scams

• Requests to invest or transfer funds using cryptocurrency, often with promises of high returns or urgent deadlines.

Online Marketplace Scams

• Fraudulent buyers or sellers use fake payments or request communication outside of the platform.

Work-from-Home Scams

• Job offers that require upfront payments or access to your financial accounts.

Secret Shopper Scams

• You are sent a check and asked to evaluate a business, which involves sending money back. The check is later returned unpaid.

Foreign Lottery or Prize Scams

• Claims that you have won a prize or lottery you did not enter, along with requests for fees or taxes to claim it.

Romance (Sweetheart) Scams

• Someone builds a relationship over time and eventually requests money due to a personal emergency.

Elder Financial Exploitation

• Older adults may be targeted through pressure or deception, sometimes involving individuals posing as trusted contacts.

Gift Card Scams

• Requests for payment using gift cards. Once the information is shared, the funds are difficult to recover.

Payment App Scams

• Requests to send money through apps like Zelle. These transactions are typically immediate and not easily reversed.

How to Protect Yourself

• Use strong, unique passwords for your accounts
• Enable multi-factor authentication when available
• Do not share passwords, PINs, or verification codes
• Avoid clicking on links or attachments from unknown sources via email, text, or websites
• Only send money to people you know and trust
• Avoid conducting financial transactions on public Wi-Fi
• Keep your devices and applications up to date
• Keep track of your statements, mail, and destroy any sensitive documents that are no longer needed.
• Maintain antivirus and antimalware software
• Do not submit personal information into a website you haven’t intentionally launched
• Never give out personal information to unsolicited phone calls
• Monitor your credit report
• Verify a websites URL before submitting payment information on-line to ensure the receiver is the intended recipient

Warning Signs

Fraud attempts often follow similar patterns. Recognizing these warning signs can help avoid sharing information or sending money to the wrong person.

• Messages that create urgency or pressure you to act quickly
• Requests for personal or financial information
• Unexpected payments, checks, or transfer requests
• Instructions to keep a transaction confidential
• Threats against you or your family
• They may tell you your financial institution is involved as a way to make the request seem legitimate
• Requests for payment using gift cards, cryptocurrency, or wires

If something does not seem right, pause and verify before taking action. This may involve contacting the organization, government agency or institution directly.

Digital Payment Safety

• Treat digital payments like cash—they are often irreversible
• Confirm recipient details before sending money
• Do not send funds in response to unexpected requests
• Set up account alerts to monitor activity - available through NMCU online banking or the NMCU Mobile App!

If You Suspect Fraud or Identity Theft

Take action as soon as possible:

1. Contact your financial institution immediately
2. Review your accounts for unauthorized activity
3. Place a fraud alert or freeze your credit with:

Equifax
PO Box 740241| Atlanta, GA 740241
1.800.685.1111| www.equifax.com

Experian
475 Anton Blvd. | Costa Mesa, CA 92626
1.714.830.7000 | www.experian.com

TransUnionPO Box 6790 | Fullerton, CA 92634
1.800.680.7289 | www.transunion.com

4. Report identity theft to the Federal Trade Commission at IdentityTheft.gov
5. File a complaint with the Federal Bureau of Investigation Internet Crim Complaint Center https://www.ic3.gov/

When in Doubt

When in doubt, stop and verify. Do not click, respond, or send money. Instead, contact us directly at (414) 665-3423 to confirm before taking any action. We take your security seriously and use multiple safeguards to help protect your information and accounts-but your awareness is one of the most important defenses.