You get a text:
“We detected suspicious activity on your account. Did you authorize this transaction?”
You see a phone number and a warning to call immediately.
Your first thought might be, “I need to protect my account.”
That's exactly what the scammer wants you to think.
Instead of trying to convince you that you've won a prize or that you've inherited money, they're pretending to help you stop fraud that's supposedly already happening.
And because the message is about protecting your money, it can be especially convincing.
How Financial Institution Impersonation Scams Work
The FBI has warned about account takeover scams in which criminals impersonate financial institution employees or support teams.
The scam may begin with a text message, phone call or email claiming there is suspicious activity on your account.
The scammer may tell you:
- Someone has attempted to access your account
- Your debit card has been compromised
- A suspicious transaction needs to be stopped
- Your account needs to be “secured”
- You need to verify your identity
- You need to move your money to keep it safe
The goal is to get you to provide information that allows the scammer to access your account or steal your money.
According to the FBI, more than 5,100 complaints involving account takeover fraud were reported to the Internet Crime Complaint Center between January and November 2025, with reported losses exceeding $262 million*.
And the problem extends beyond one particular type of message. The Federal Trade Commission reported that consumers reported losing $3.5 billion to imposter scams in 2025, making imposter scams the most frequently reported fraud category that year.
The Biggest Red Flag? Pressure.
A legitimate security concern can make you nervous.
A scammer wants to make you panic.
They may tell you that you have only minutes to respond. They may threaten to freeze your account. They may insist that you stay on the phone while you log in or transfer money.
That's when you should stop.
If someone is pressuring you to make a financial decision immediately, don't let the urgency make the decision for you.
Never Give Someone Your One-Time Passcode
One of the most important rules to remember is simple:
Never share your Secure Access Code or one-time passcode with someone who contacts you unexpectedly.
A scammer may tell you they need the code to verify your identity or stop a fraudulent transaction.
But that code can actually help them gain access to your account.
If someone asks you for a code you've received by text or another method, stop and verify who you're dealing with.
What Should You Do If You Receive a Suspicious Alert?
1. Don't click the link.
Even if the message looks legitimate, don't use the link provided in an unexpected text or email.
2. Don't call the number in the message.
Instead, use a trusted phone number for your financial institution.
3. Don't share your security information.
Never provide your password, Secure Access Code, one-time passcode or other sensitive information because someone contacted you unexpectedly.
4. Take your time.
A real financial concern doesn't mean you have to follow instructions from a stranger immediately.
5. Contact your financial institution directly.
If you're concerned about your account, reach out using a trusted method so you can verify whether there really is an issue.
What If the Message Really Is From Your Credit Union?
That's a great question.
Financial institutions may legitimately contact members about account activity, but you should still be cautious when a message asks you to take an unusual action or provide sensitive information.
If you're unsure, don't respond through the message.
Contact your financial institution directly and ask whether the alert is legitimate.
At UK Credit Union, We're Here to Help
If you receive a message or call claiming to be from UK Credit Union and you're unsure whether it's legitimate, don't guess.
Stop and verify.
And remember:
UK Credit Union will never ask you to share your Secure Access Code or one-time passcode.
When it comes to protecting your money, it's okay to slow down, ask questions and make sure you're talking to the right person.
Because sometimes the “fraud alert” is the fraud.
This Cybersecurity Month, UK Credit Union is helping members recognize some of the newest ways scammers are targeting consumers. Stay alert, protect your information and when in doubt, verify before you act.
*The FBI reported more than 5,100 account-takeover complaints and more than $262 million in reported losses beginning January 2025 through its November 2025 alert. The FTC reported $3.5 billion in reported losses from imposter scams in 2025 and noted that some of the costliest impersonation scams begin with fake bank security alerts.
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