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Financial Friday: Protecting against debit card fraud

Published: Nov. 16, 2021 at 9:15 AM CST
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HUNTSVILLE, Ala. (WAFF) - It’s scary to think of someone accessing your checking account without permission. If it happens, you do have protection from debit card fraud. There are a few things you can do to shield your account and bank balance.

WAFF spoke to Brain Smith, the manager of Security and Investigation at Redstone Federal Credit Union. He responded after some customers were affected by a fraud attack.

Here is what he says Redstone is doing to protect their members:

  • Offers real-time fraud detection and monitoring on all card transactions – that’s why you may get a call sometimes after a purchase attempt out of state, asking if you made that purchase
  • Fraud monitoring tactics are re-evaluated constantly to make sure we are addressing pending and new threats
  • Offers full protection from any validated fraudulent card transactions when you notify us quickly – within 60 days of the incident is preferred
  • Local ‘in-person” fraud team to assist members

Here is what RFCU members can do:

  • Closely monitor their accounts through online banking or our mobile app
  • Notify Redstone immediately if any transaction seems suspicious
  • Never give out full card numbers, security codes/CVV, or PIN numbers to anyone that has called you (i.e. – you did not initiate the call to make a pre-planned purchase)
  • Use Redstone’s Card Control features and alerts (available through our mobile app) – that will let you know when transactions are made on your account
  • Be aware of phishing attempts (attempts to gain your information) through text, email, and/or phone calls

Bottom Line: Smith says Redstone takes each fraudulent card incident seriously and works with our members to repair the damage.

For more ways to save be sure to tune in at noon every Friday for WAFF 48′s “Financial Friday” segment.

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