When a member came into the branch requesting a wire transfer to repay a loan, our financial service representative immediately knew something didn’t feel right. The member seemed unsure about the details but insisted she knew the person she was sending money to.
Our representative took a moment to ask a few additional questions. In reviewing the member’s account, a $30,000 transfer from the member’s HELOC to her checking account stood out, especially since it had just been completed earlier that day. When asked about it, the member said she didn’t recognize the transaction. That raised concern.
Our representative slowed the process down and walked through the Transaction Indemnity Form with the member, carefully reading each section and discussing common fraud scenarios. They also reviewed educational materials on how to avoid scams. As the conversation continued, the member began to realize something was wrong. She shared that she had received a pop-up on her computer claiming to be from Norton AntiVirus and had called the number listed. During the call, a scammer gained remote access to her device and manipulated what she saw while she logged into online banking, convincing her she owed money and needed to send it back.
The member was shaken, but very thankful and relieved that she wouldn’t lose her money. By taking the time to ask questions and educate, our representative helped prevent a significant financial loss.
