Apply
Online Banking

Scams Impersonating Financial Institutions are on the Rise

The security of your accounts is our highest priority. We want to warn you about phone scams targeting people nationwide, where fraudsters impersonate employees of financial institutions.

Scammers often call or text pretending to be from the fraud department, claiming there are suspicious or “flagged” transactions on your account. They use fear and urgency to pressure you into revealing sensitive information.

How the Scam Works:

  • Fraudsters often send bulk text messages to many cell phone numbers at once, claiming there is a flagged or suspicious transaction on your account. The message asks you to reply to confirm whether it was you.
  • Once you respond, the scammer may follow up with a phone call from a spoofed caller ID that looks like it’s coming from your financial institution. They often claim to be from the fraud prevention department.
  • During the conversation, they will attempt to trick you into sharing personally identifying information, such as account numbers, login credentials, or security/verification codes sent to your phone.
  • With this information, scammers can take over your online banking account and quickly set up services like Apple Pay or bill pay, allowing them to post fraudulent transactions and steal your money.

Breakwater FCU will:

  • NEVER ask for your online banking username or password, your full social security number, PIN numbers, or security/ verification codes sent to your phone.
  • NEVER pressure you to act immediately.
  • NEVER text you from a 9-digit phone number. (Our fraud department messages will come from a 5-digit automated number.)

What to do if you suspect a fraudlent call or message:

  • Hang up immediately.
  • Do not respond to messages.
  • Call us at 906-482-5005. Do not use a number provided by the caller. Remember: caller ID can be faked.
  • Do not click on links in suspicious texts or emails.
  • Report the scam directly to us!

If We Suspect Fraud:

If there is ever suspicious activity on your account, Breakwater FCU will reach out — but we will do so safely. We may place a call to verify activity, but we will never ask for your login credentials, PIN, or security codes. Our goal is to protect your account, not to pressure you.

If you are ever unsure about a call, text, or email that appears to be from us, the safest action is to hang up immediately and call us at 906-482-5005. By contacting us directly, you can be confident you are speaking with a Breakwater representative.

The owner of this website has made a commitment to accessibility and inclusion, please report any problems that you encounter using the contact form on this website. This site uses the WP ADA Compliance Check plugin to enhance accessibility.