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Fraudulent Transactions

Act quickly when you suspect fraud

If you’re like most busy people, you use your debit or credit card multiple times a day and may not notice a fraudulent transaction until you have a chance to check your statement or online banking (if you catch it at all). That’s why SMCU is always monitoring your accounts for suspicious transactions and why you may want to take steps to limit your risk and catch those bad transactions sooner.

What is a fraudulent transaction?

Any transaction on your accounts that you did not make or authorize has a high likelihood of being fraudulent. This could come from a forged/counterfeit check, unauthorized access to your online banking account, or, most commonly, stolen debit/credit card information.

How SMCU protects you

  • If your debit or credit cards are ever compromised, or fraud is suspected, SMCU may lock your cards or reissue them, depending on the severity of the risk.
  • If your money is ever stolen, SMCU’s Zero Liability Policy will return any money you lost and conduct a thorough investigation.
  • There is multi-factor authentication required to log-in to Online and Mobile Banking.
  • SMCU will never ask you to provide personal information over email or by text – we will only discuss these details with you in a secure environment or in-person/over the phone after we have verified your identity.

Ways to protect yourself

  • Do not share financial information with any merchants unless you are making a purchase or entering into an agreement with them that involves your money or your account.
  • Use your EMV chip whenever possible and avoid swiping your card at point-of-sale machines
  • Sign up for Account Alerts so that you get notified of purchases made on your cards/accounts as they occur.
  • If you lose or misplace your credit card, debit card, or checks, inform SMCU at once.
  • Regularly change your online and mobile banking passwords and make them difficult to guess.
  • Let us know when you’re traveling, and where you’re going, especially when you leave the country.

If you see suspicious transactions on your SMCU account or think you may have been the victim of fraud, contact us immediately at (650) 363-1725.

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