The Back-to-School Scam

Agent O.T.T.O. is back for another edition of Operation: Tell Their Story!

Wow, we're already in the last full month of summer! With school just around the corner, this month's story focuses on Elizabeth, a mother determined to get her kids ready for the upcoming school year without breaking the budget.

Elizabeth was part of a group of moms who always shared great deals and shopping tips. After spending hours searching online, one recommendation caught her eye. The company was located overseas, but it had a professional-looking website, a few positive reviews, and a limited-time sale. Feeling reassured, she started filling her cart.

By checkout, she had found everything she needed for her kids. The total was slightly over budget, but she decided to cut back on a few items for herself. When she went to pay, however, she noticed something unusual. Instead of entering payment information, the site instructed customers to call or text a number because the company only accepted wire transfers.

Elizabeth thought it was strange but texted the number anyway. The representative was polite but vague when she asked why wire transfers were the only option. When she pressed for more details, the conversation quickly shifted to the urgency of the expiring deal.

Uneasy but afraid of missing out, Elizabeth requested instructions and prepared to send the wire.

The next morning, she called OURCU as soon as the Contact Center opened, hoping to complete the transfer quickly. As staff asked questions about the transaction, several red flags appeared. After hearing the full story, staff suspected she was being scammed and explained that additional review would be required before a wire could be sent.

Frustrated and concerned about losing the deal, Elizabeth asked to speak with a supervisor. The supervisor explained that, based on the information provided, we believed this was likely a scam and would not process the wire at that time.

Elizabeth strongly disagreed and offered additional information she had gathered. To ensure every detail was reviewed, staff arranged for her to meet with our Compliance team that same day.

After conducting their research, Compliance confirmed that the website was fraudulent and recommended that the wire not be sent. Staff shared their findings with Elizabeth, but she remained upset and insisted she needed the payment sent immediately.

Even so, staff held firm. Their goal wasn't to stop her purchase. It was to protect her hard-earned money. Eventually, they agreed that Elizabeth would take the weekend to do some additional research.

Thankfully, she did.

First thing Monday morning, Elizabeth called back to thank everyone involved. One of the other moms in her group had already sent payment to the same company the week before. Over the weekend, that mom learned from her financial institution that she had fallen victim to a scam, and there was no guarantee her money could be recovered.

It's a powerful reminder.

OURCU staff aren't here to judge how members spend their money. Our goal is simply to help protect it. We understand that money is more than numbers in an account. It's school clothes, groceries, gas for work, and the security of knowing your family is taken care of.

We're grateful Elizabeth's story had a happy ending and that another member's hard-earned money stayed where it belonged.

Special Agent O.T.T.O. signing off! I hope you enjoy the rest of your summer and soak up some sunshine. And as always...

REMEMBER! WHEN IN DOUBT, REACH OUT! 🚨