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SC Federal Credit Union customers see unauthorized transactions - Live5News.com | Charleston, SC | News, Weather, Sports

SC Federal Credit Union customers see unauthorized transactions

Source: WCSC Source: WCSC
SOUTH CAROLINA (WCSC) -

If you haven't checked your bank account lately, now is the time to do it.

South Carolina Federal Credit Union customers say they are seeing a significant amount of money taken out of their accounts.

Meredith Siemens, with SC Federal Credit Union, said it's happening at banks and credit unions nationwide.

Based off customer's information, dozens of accounts have seen unauthorized transactions.

SC Federal Credit Union would not say how many accounts have been affected.

In a statement released Monday, the company stated, “We would like to assure you that, based on today’s data analysis, the security of member information was not compromised at South Carolina Federal Credit Union.  It is important – both to you and to the credit union - that members understand that South Carolina Federal has not been “hacked.”

Monday lines formed at branches of the credit union across the state.

Several customers said their accounts are missing a significant amount of money.

One woman said $1,800 was taken from somewhere in France, while another said her entire account was wiped out.

Siemens said the hike in activity is because of the new chip card security.

“Unfortunately, the state of South Carolina is now experiencing one of the highest rates of fraud of any state in our country. Our location, combined with the increased urgency to use stolen information, due to the upcoming adoption of EMV chip cards, has sparked spikes in fraudulent activities.

In most cases, the current fraud activity is not the result of something that occurred over the weekend. Many of the incidents are linked to cards compromised in previous breaches (Target, Home Depot, K Mart, etc.).  Fraudsters typically hold on to stolen card information until people have forgotten about it, and then use the stolen information to conduct fraudulent transactions.”
 
Siemens said the credit union is working with customers to resolve the issues.

One customer was told she would see her money back in her account in about three days.
 
The statement goes on to say:

If you believe your card has been used for unauthorized transactions, please contact us immediately. Should you need assistance when our financial centers are not available,
please call Cardholder Services at 1-800-472-3272.  Here’s what happens next:

1.   Your current card is blocked to prevent additional unauthorized transactions.

2.   A new card will arrive by mail in 7-10 days. If you need a replacement card sooner, you may still call Cardholder Services to block additional
use of the card, and then visit a local financial center for the new card.

3.   A fraud claim must be filed.  Our financial center and/or contact center representatives will assist you with the fraud claim.
 
If you used your card at these retailers during the time frames of the breaches, (Target: Nov. 27- Dec. 15, 2013, Home Depot: April- Sept. 2014, Kmart: Sept.1- Oct.9, 2014),
we suggest you take steps to block that card and get a replacement card. Although these breaches are out of the news, unfortunately, there is no expiration date on the fraudulent information acquired when they occurred.

We advise all members to check their statements for irregular activity.

Copyright 2015 WCSC. All rights reserved.

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