The Iowa credit union industry is continuing to warn Iowans of online scams and text message “smishing” attempts aimed at stealing personal and financial information.
Scams through Facebook Marketplace also have become increasingly prevalent.
Smishing is where text messages appear to be from a consumer’s financial institution and try to trick the consumer into revealing their account number or other personally-identifiable information.
According to recent reports from the Internal Revenue Service, thousands of fraudulent domains tied to multiple MMS/SMS/text scams have been reported in 2022. In recent months, smishing attempts have increased exponentially.
Additionally, there have been recent reports of scams within Facebook Marketplace. While it is a common place for consumers to buy and sell goods, people should be cautious when exchanging items with someone online. Knowing certain red flags can help consumers avoid these scams in the future.
Marketplace red flags include:
“Phishing attempts and online scams are continuing to put Iowans’ financial data at risk,” Vice President of the Iowa Credit Union League Jaimie Miller said in a statement. “Consumers need to remain vigilant when interacting online and receiving suspicious text messages. If you are uncertain about who is contacting you or been scammed, get in touch with your credit union or bank immediately.”
Financial institutions will never ask for personal information, including Social Security numbers and full account numbers.
The Federal Trade Commission (FTC) has a helpful guide on how to spot text message scams here. 
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