If You Didn't Buy It, Don't Verify It

Fraudsters are impersonating financial institutions and using fake fraud alerts to create a sense of urgency to trick you into compromising your accounts.

They may claim there's suspicious activity on your account and ask you to confirm a purchase, provide a security code, or verify personal information. Their goal is to gain your trust, create panic, and convince you to share sensitive information they can use to access your accounts to take your money.


How the Scam Works

  • A fraudster contacts you pretending to be your trusted financial institution.
  • They claim there's suspicious activity on your account and ask you to confirm a transaction you did not make so they can "dispute" the charge for you.
  • Once you confirm the transaction, they continue spending on your card without restrictions. 

Remember, fraudsters want you to react quickly. They hope you'll panic and provide information before stopping to think.

A good rule of thumb: If you didn't buy it, don't verify it.

Legitimate financial institutions will NEVER ask you to validate a transaction you never made. Only fraudsters use that tactic to gain your trust and access your information.

Stay alert, stay skeptical, and contact BMI FCU directly at 614.707.4000 if something doesn't seem right.

Recognize Common Fraud Tactics

Your caution is one of the best defenses against fraud. Here's what to watch for:

DO NOT give out your full card number or PIN.
DO NOT give out your Online Banking credentials or MFA code. Legitimate fraud centers will never ask for this information.
DO NOT provide any personal or account information if you receive a call or text about a suspicious charge.
DO NOT confirm charges you did not make.
DO NOT trust caller ID. Hang up immediately if you are unsure about the legitimacy of a call.

Set spending alerts through our Card Management/Alerts tool in online banking so you can stay ahead of any fraudulent purchases.


What to Do If You Suspect You've Been Targeted


If you think you may have given your card information to a scammer or approved a fraudulent purchase:

  1. Place a temporary block on your card through our Card Management/Alerts tool in Online Banking.
  2. Call us immediately at 614.707.4000.
  3. Monitor your account for unauthorized transactions.
  4. Consider updating your Online Banking password and enabling multi-factor authentication for added protection.
  5. Report the incident to the Federal Trade Commission at www.reportfraud.ftc.gov. 

Fraudsters are getting smarter and more convincing. But by staying informed and cautious, you can help stop fraud before it starts. If something doesn't feel right, trust your instincts and report it!

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