Debit Card Fraud
Fraudsters have become increasingly adept at getting cardholders to share information by posing as financial institution call center representatives, or sending text messages that look like they are coming from your institution, warning of suspicious activities. They are also phoning call centers posing as cardholders requesting changes to card information and account parameters.
The fraudsters do this by using information stolen through data breaches at health insurance providers, reward programs, credit bureaus, merchant terminals, and social media sites, as well as through malware programs deployed on personal computers, etc.
This stolen personally identifiable information (PII) is combined with stolen card information, resulting in sufficient data to create profiles fraudsters can use to present themselves as the actual cardholders.
The following advice can help you avoid compromising your personal information:
Text and phone alerts
If you are set up to receive a text alert from us, it will always be from a 5-digit number and NOT a 10-digit number resembling a phone number. A valid notification will never include a link to be clicked. Never click on a link in a text message that is allegedly from us.
PIN and 3-digit security codes
We will NEVER ask you for your PIN or the 3-digit security code on the back of your card. Don’t give these numbers out to anyone, no matter what they say. Hang up and call us directly at 800.279.3200.
Fraudsters will often ask cardholders to verify fake transactions. When the cardholder says they did not perform those transactions, the fraudster will then say their card will be blocked, a new one issued, and that they need the card’s PIN to transfer it to the new card. Many people believe this and provide their PIN.
Sharing the 3-digit CV2 code on the back of the card will allow a fraudster to conduct card-not-present transactions.
Regularly check your account
Regularly check your account online to see if there are any suspicious transactions that have occurred, especially if you are unsure about a call or text message you’ve received. If anything looks suspicious, call us directly for assistance.
CardValet is ideal for cardholders who want to protect and manage their debit cards through their mobile devices. If you suspect fraudulent activity on your Alerus debit card, simply turn your card “off” to prevent transactions from occurring and contact us immediately at 800.279.3200
Download the app and start protecting yourself and your card today.
For more information on how to avoid fraud, please contact our client service center at 800.279.3200