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Digital Wallet Scam Alert: Spoofed Text Messages and Calls

Fraudsters are contacting credit union and bank customers in an attempt to gain access to their accounts and steal their hard-earned money. In recent instances, the criminals initiate a one-time passcode (OTP) to be sent to the victim and then follow-up with a phone call or text asking for that passcode. We urge all members to exercise caution with unsolicited calls or text messages. Fraudsters may spoof phone numbers to impersonate call centers to make it appear that your credit union or bank is actually texting or calling. They may say there is a fraud alert regarding suspicious account activity that they need to confirm with you. Once highly sensitive account information is obtained, the scammers use this information to set up your debit/credit card in their digital wallet, reset account credentials, and access online banking accounts.

In the event that you are contacted by someone claiming to represent Bay Federal, never share your account information over the phone or through text messages. While we do occasionally call our members about their accounts, real Bay Federal employees will never ask for:

  • Your Card Personal Identification Number (PIN)
  • One-time passcode (OTP)
  • Online or mobile banking password

Although scam alerts can be alarming, please understand that your accounts, cards, and Mobile Wallet are still safe and secure. When you keep your personal information private, you don't need to worry about the safety of your money.

If you have received a text/phone call asking to provide a OTP, PIN, or other banking information, or if you have received an unprompted email or text confirming your Bay Federal card has been set-up in a Digital Wallet, contact Bay Federal at 831.479.6000 or toll-free at 888.4BAYFED, option 3 immediately to report the situation.

Thank you for allowing Bay Federal to serve you!

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