The new year has brought an uptick in Online Account Takeover (OAT). OAT fraud is a form of identity theft where fraudsters gain access to the victim’s login credentials and log in to an online app or service as you. The recent incidents that we’ve seen involve fraudsters posing as employees of Century Link, Amazon, Social Security, Microsoft, banks, and credit unions.

We always recommend that you stay vigilant and follow these tips to safeguard your accounts:

Verify sources before sharing account and personal information: Don’t give out personal or account information on the phone, through the mail, by text, or on the internet unless you initiate the contact. Email addresses, phone numbers, and website links can be spoofed. Do not reply directly to emails, calls, or texts. Instead, initiate a new contact using the information on the company’s website.

Monitor your existing credit card and bank accounts: Look for any charges you do not recognize and verify password reset notifications.

Don’t reuse passwords: Use a unique, secure password for every online account. Consider using a secure password manager to store these passwords.

Use multifactor authentication and biometrics: Set up a one-time passcode by email or text whenever you can. Add biometrics like face recognition or fingerprints when possible.

Report Unusual Activity and Fraud Attempts: If you have been the victim or the target of an account takeover, report it to the bank or company of the account that was compromised. You might want to consider placing a credit report fraud alert or credit freeze with all three credit bureaus if the takeover was successful.

Click here for more tips on protecting your account. For additional questions about PNWFCU online banking and account security, email [email protected] or call or text us at 503-256-5858.