These codes are designed to protect your accounts, but if they are shared with someone else, they can allow a scammer to gain access to your account.

What Is a One-Time Verification Code?

A one-time passcode, sometimes called a verification code or security code, is a temporary code sent to your phone or email when you log in to an account or make certain changes.

This extra step is part of multi-factor authentication, a security feature that helps confirm your identity.

How These Scams Work

In a verification code scam, a fraudster attempts to log in to your account using information they may have already obtained. When the system sends the verification code to your phone or email, the scammer contacts you pretending to be a trusted organization and asks you to provide the code.

They may claim they need the code to verify your identity or help resolve an issue with your account. Once the code is shared, the scammer can use it to complete the login process and potentially gain access to the account.

Scammers may contact victims in different ways, including phone calls, text messages, or emails.

Some common examples include:

• A caller claiming to be from your credit union saying they need to verify suspicious activity
• A text message asking you to confirm your account by replying with the code
• Someone pretending to help you recover your account after claiming there is a login issue

These messages are designed to sound urgent and convincing so that you act quickly.

Why Sharing the Code Gives Scammers Access

Verification codes are meant to confirm that the person logging in is the legitimate account holder. If you provide the code to someone else, they may be able to complete the login process and gain access to your account.

This can allow fraudsters to:

• Change account passwords
• Transfer funds
• Access sensitive personal information
• Attempt additional fraudulent activity

That is why these codes should always remain private.

How To Protect Your Accounts

There are several simple ways to reduce your risk:

• Never share a verification code with anyone.
• Do not provide codes to callers, emails, or text messages claiming to verify your account.
• If you receive a code you did not request, review your account activity immediately.
• Contact your financial institution directly if you believe someone is attempting to access your account.

Verification codes are intended only for the person logging in to the account.

Protecting Your Information Starts With Awareness

Protecting your financial information is essential to preventing fraud. If you receive a request for a verification code or believe someone may be attempting to access your account, contact Cabrillo Credit Union right away.

Our team is committed to helping members stay informed and protected. By staying aware of common scams and safeguarding your verification codes, you can help keep your accounts secure.