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TRUITY CREDIT UNION - Cyber Security and Scams · One on One With a Professional

• 0:05
  Speaker 1: Good morning, good morning, good morning, Welcome, welcome, welcome time
• 0:08
  Speaker 1: for one on one with Approach two to one one today.
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  Speaker 1: Joe Beffer is with us here with Truity Credit Union.
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  Speaker 1: You brought a friend, didn't you? I did?
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  Speaker 2: Would you bring if I brought? Thomas Lewis the second.
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  Speaker 2: He is the executive director of the Oklahoma Credit Union Association.
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  Speaker 3: Wow, welcome, well, thank you, it's wonderful to be here.
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  Speaker 1: What we're going to talk about today? I understand that
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  Speaker 1: we need to be as pure as possible when it
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  Speaker 1: comes to our funds, our finances, and everything that touches them.
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  Speaker 2: Yes, I think the last couple of months that we've
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  Speaker 2: had Lisa came over and Farrell came over and they
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  Speaker 2: talked a little bit about fraud. And we want to
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  Speaker 2: talk a little bit more about fraud and what the
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  Speaker 2: credit union is doing to help protect security of our
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  Speaker 2: members and of the most vulnerable in our communities. And
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  Speaker 2: Thomas is helping us with a lot of that, and
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  Speaker 2: we hope to get to talk a little bit about
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  Speaker 2: that today.
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  Speaker 1: All right, let's get will rolling here. What do we
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  Speaker 1: need to be looking out for besides a little bit
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  Speaker 1: of everything these days? Right?
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  Speaker 3: Right? Well, a couple of things to keep in mind.
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  Speaker 3: Big picture, nationwide, we have about two point six million
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  Speaker 3: Americans that fall victim to scams and fraud every year.
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  Speaker 3: And and those are the numbers that are just reported, right,
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  Speaker 3: we all know that the number is probably higher.
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  Speaker 1: Nobody wants to admit that they've been scammed.
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  Speaker 3: No, I mean, there's a high component of fear. There's
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  Speaker 3: always a component of maybe a little bit of embarrassment,
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  Speaker 3: So nobody, nobody wants to admit it. But the fact
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  Speaker 3: of the matter is is that these scammers are very sophisticated.
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  Speaker 3: They have very established, you know, systems, They use technology,
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  Speaker 3: the newest technology. There are always a few steps ahead
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  Speaker 3: of how the law evolves. Right, So everyone either knows
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  Speaker 3: someone or knows someone who knows someone who is negatively
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  Speaker 3: impacted on this topic.
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  Speaker 1: What are some of the best ways we can maybe
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  Speaker 1: have our eyes opened and take a look see at
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  Speaker 1: what might not be right.
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  Speaker 2: I think just having conversations with your financial friends, if
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  Speaker 2: you will. A lot of times when we are getting
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  Speaker 2: targeted for a scam, we have a hard time talking
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  Speaker 2: about it because we just don't know what's going on.
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  Speaker 2: So as you come into the credit union, we have
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  Speaker 2: consultants all over the place that are more than happy
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  Speaker 2: to talk about what's going on. We serve in the
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  Speaker 2: state of Oklahoma one point four million credit union members.
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  Speaker 2: Those are one point four million members that we see
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  Speaker 2: in our communities that we continually work with in our
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  Speaker 2: communities to make sure that the investment in the community
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  Speaker 2: is there, but even more importantly, to serve their interests,
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  Speaker 2: to make sure that they're not making moves with their
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  Speaker 2: money that might not be kosher. You know, we talk
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  Speaker 2: about last week alone, someone was telling me the story
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  Speaker 2: about a member coming in and they're withdrawing fifteen thousand dollars,
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  Speaker 2: And in that conversation, it's like, well, you know, are
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  Speaker 2: you getting something with.
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  Speaker 1: This nice bote? You know, really nice vote?
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  Speaker 2: This this sounds fun. Well, you know, I'm going down
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  Speaker 2: to the local crypto atm and I'm going to go
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  Speaker 2: and I'm going to go invest over there with a
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  Speaker 2: friend of mine that I've been talking to on the internet.
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  Speaker 2: Those conversations, just open conversations with your trusted financial folks,
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  Speaker 2: helps us identify when there might be a scam going on,
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  Speaker 2: and it gives the opportunity for us to talk to
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  Speaker 2: you a little bit more about how to protect yourself.
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  Speaker 2: And I think you see it all across the community.
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  Speaker 2: It's been a topic for quite some time. Whether you're
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  Speaker 2: getting the text message saying your easy pass needs to
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  Speaker 2: be paid, or you're getting the phone call that, hey,
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  Speaker 2: you know there's a warrant out for your arrest and
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  Speaker 2: we need fifteen thousand dollars today, or they're going to
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  Speaker 2: come visit you. These are red flags. These are red
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  Speaker 2: flags that we hear about all the time, and people
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  Speaker 2: fall form. I was selling Thomas out in the lobby
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  Speaker 2: back in nineteen ninety nine. I fell for one and
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  Speaker 2: it was the magazine scam.
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  Speaker 1: Right.
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  Speaker 2: It wasn't thousands of dollars, but it was very early
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  Speaker 2: in these types of scams, and there are red flags
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  Speaker 2: that go with those. And as we educate ourselves and
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  Speaker 2: we build partnerships within our communities, we can all fight
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  Speaker 2: that together.
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  Speaker 1: Thomas, I understand that sometimes the scammer might not ask
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  Speaker 1: for a a whole lot of money up front, They
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  Speaker 1: just kind of want access. Is that true?
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  Speaker 3: It is a lot of times they use something small,
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  Speaker 3: right to build up a relationship, right, because a lot
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  Speaker 3: of these scams are not just one time transactions, right,
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  Speaker 3: they're coming back again and again and again. And I
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  Speaker 3: think that that kind of underscores why we as an
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  Speaker 3: industry are so passionate about doing something about this, because
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  Speaker 3: right now there are some structural issues in the law
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  Speaker 3: that prevent us from effectively working with law enforcement and
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  Speaker 3: the improper authorities to be able to address some of
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  Speaker 3: these things.
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  Speaker 1: Right.
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  Speaker 3: So, right now, in the law, we have a duty
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  Speaker 3: to report, right if you see something, say something naturally,
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  Speaker 3: we I mean, obviously you want to do that. However,
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  Speaker 3: in a different part of the law, we have very
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  Speaker 3: strict privacy financial privacy laws, which in effect prevents us
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  Speaker 3: from being able to provide the information to the people
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  Speaker 3: that we report these transactions too. Right, So, you have
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  Speaker 3: one side of the law that says, hey, you must report,
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  Speaker 3: you have another side of the law that says you
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  Speaker 3: must protect people's information. And you've got credit unions in
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  Speaker 3: the middle, and you've got the members in the middle,
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  Speaker 3: right trying to do the right thing. So one of
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  Speaker 3: the things that we're working on, and this is a
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  Speaker 3: broad coalition folks trying to work on it, We're trying
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  Speaker 3: to make adjustments in the law to really fix that
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  Speaker 3: structural and balance and it's you know, this is not
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  Speaker 3: to be critical of anyone or the legislature or the
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  Speaker 3: court system.
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  Speaker 1: Is just the way we're goodifying something. We need to
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  Speaker 1: get a bit yes personalities out of it.
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  Speaker 3: We yeah, as it is well and fortunately for us,
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  Speaker 3: I think that this is an issue that builds a
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  Speaker 3: very good bipartisan coalition because everyone wants to make sure
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  Speaker 3: that their communities are protected, that their families are protected.
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  Speaker 3: So the piece of legislation that our association, our industry
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  Speaker 3: is working on basically will allow financial institutions to share
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  Speaker 3: the needed data with law enforcement and the appropriate agencies.
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  Speaker 3: Because in situations like this, time is of the essence,
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  Speaker 3: right If you have to wait for you know, court
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  Speaker 3: order or subpoena, you know, those naturally take times. Well,
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  Speaker 3: either the bad guy's long gone, right, or they've had
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  Speaker 3: enough time to go back to that victim and ask
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  Speaker 3: for another transaction, another transaction. One statistic to keep in
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  Speaker 3: mind is the average amount lost per incident is about
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  Speaker 3: five hundred dollars, right, if you're if you're retired, you know,
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  Speaker 3: or you're on a fixed income, If you have someone
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  Speaker 3: coming to you for five hundred dollars again and again
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  Speaker 3: and again at some point. You know, we're talking about
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  Speaker 3: you're draining your retirement, right, You're you're having to make
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  Speaker 3: decisions between you know, food or medicine. But this scammer
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  Speaker 3: has either built up a relationship, right or they've put
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  Speaker 3: enough fear in you that you're willing to do it.
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  Speaker 3: And and we as credit unions see that all the time,
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  Speaker 3: and we're dedicated to protecting our members. So we're excited
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  Speaker 3: to be working on this issue and equip everybody with
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  Speaker 3: the tools to hopefully be able to fight back and
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  Speaker 3: protect your members.
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  Speaker 1: Wow, this is great. It's nice that we have an
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  Speaker 1: advocate on our side here. I feel pretty good right
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  Speaker 1: about now. So yeah, I will tell you the thing
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  Speaker 1: that happened to me in Florida. I was in Orlando.
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  Speaker 1: I was living in that area. I had just gone
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  Speaker 1: into a convenience store to pick up something and I
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  Speaker 1: look at my phone and it's my credit union and
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  Speaker 1: I say, Saint Tom, where are you. I said, well,
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  Speaker 1: I'm in Orlando. They said, oh, I just I want
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  Speaker 1: you to know that somebody's trying to buy furniture in
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  Speaker 1: Arizona with your information. I said, can we put a
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  Speaker 1: stop to that? Yeah, we can do that, but that's
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  Speaker 1: not going to happen all the time. But it was
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  Speaker 1: one of those things where you know, that got caught.
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  Speaker 1: We have no idea where that information or how that
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  Speaker 1: information got shared, or where the hole was, but we're
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  Speaker 1: sure glad somebody put a stop to it or negated
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  Speaker 1: that at least that transaction. But it happens to everyone virtually.
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  Speaker 1: Like you said, it either happened to you, someone you know,
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  Speaker 1: or someone you know who.
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  Speaker 2: Knows absolutely it does happen, and that happens often. Sometimes
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  Speaker 2: it's a bit frustrating when our credit companies are stopping
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  Speaker 2: a transaction, asking and delaying a transaction from happening.
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  Speaker 1: But the number, what's that I'd rather stop and ask
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  Speaker 1: computer questions.
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  Speaker 2: It doesn't protects our accounts. Let's go back to the holidays.
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  Speaker 2: I think it was right before Christmas Eve there was
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  Speaker 2: a swath of debit card you know, whether it was
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  Speaker 2: a skimming issue or what, but over eight hundred cards
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  Speaker 2: were impacted. And we continue to have staff that comes
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  Speaker 2: in and we talked about it in an employee meeting
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  Speaker 2: this morning. We have staff that comes in and says,
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  Speaker 2: I'll stay late, I'll work this weekend to make sure
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  Speaker 2: that our members are taken care of. The holiday's coming up.
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  Speaker 2: We want to make sure that people still have access
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  Speaker 2: to their funds, and so that partnership that we have
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  Speaker 2: with our membership and with our community is to continue
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  Speaker 2: to serve in that way. That service doesn't just happen locally.
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  Speaker 2: We have teams that go into Oklahoma City that are
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  Speaker 2: looking for protections for the vulnerable when it comes to
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  Speaker 2: the finances, you know, we'll have six or seven heading
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  Speaker 2: out to d C just you know, from Truity that
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  Speaker 2: are going to continue to advocate for the security for
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  Speaker 2: our membership. And we have people like Thomas at our
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  Speaker 2: association level that every day are focusing on these issues
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  Speaker 2: and making sure that the partnership with our communities and
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  Speaker 2: our and our membership is strong enough that those protections
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  Speaker 2: remain in place.
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  Speaker 1: Might I say, as a member of Druity Credit Unions
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  Speaker 1: to share your holder, thank you for everything you're doing
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  Speaker 1: to protect us here. And it's got to be a
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  Speaker 1: lot of work, but you got a lot of passion
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  Speaker 1: for this.
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  Speaker 3: We do. We do. I think that you know, while
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  Speaker 3: this is an issue that all financial institution of all
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  Speaker 3: stripes to deal with, I think that the systems and
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  Speaker 3: the efforts that Truity has really underscores the passion for
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  Speaker 3: protecting their members because really, you know, your local credit union,
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  Speaker 3: they're on the roller coaster of life with you. You know,
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  Speaker 3: whether you're talking about getting a home a mortgage, or
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  Speaker 3: you know, a car loan or helping a family member
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  Speaker 3: open their first account. You know, they're on the roller
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  Speaker 3: coaster with you. And so when something is not right,
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  Speaker 3: they see it, right, they feel it. And so I
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  Speaker 3: think that not just Cruity, but all of our credit
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  Speaker 3: unions and really have a passion for not just looking
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  Speaker 3: out for their members well being, but also especially looking
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  Speaker 3: out for the most vulnerable, because scammers can get any
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  Speaker 3: one of us, but they tend to they tend to
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  Speaker 3: target the most vulnerable vulnerable.
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  Speaker 1: People, usually people my age is sixty five and up.
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  Speaker 1: Who I like to think that everybody's on the up
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  Speaker 1: and up, even though we probably know better, we've forgotten
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  Speaker 1: along the way and oh, look a friend on the internet. Well,
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  Speaker 1: sure are kind of needy.
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  Speaker 2: You know, And it happens. It happens more than you
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  Speaker 2: would think. And you know, I think one of the
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  Speaker 2: statistics that Lisa shared with me was over six hundred
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  Speaker 2: and fifty thousand dollars saved to our membership just by
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  Speaker 2: stopping them or educating them on these fraud rings. Just
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  Speaker 2: last year alone, over six hundred and fifty thousand dollars
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  Speaker 2: that we saved our members making sure that they didn't
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  Speaker 2: send money to someone who was trying to scam them.
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  Speaker 1: Well, so the thing that you said, Thomas, would make
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  Speaker 1: me want to be very, very aware is that these
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  Speaker 1: ne'er do wells are usually a step or two ahead
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  Speaker 1: of the law. So we have to do everything within
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  Speaker 1: our own power to just be on the on the lookout,
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  Speaker 1: make sure that if it don't it doesn't look right,
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  Speaker 1: you probably isn't. If it's too good to be true,
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  Speaker 1: probably is right.
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  Speaker 3: You know, these these folks tend to feed on isolation, right,
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  Speaker 3: And so I think that because of credit unions and
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  Speaker 3: our cooperative spirit, I think that the relationships that we build,
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  Speaker 3: you know, as an institution, as a community, as individuals,
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  Speaker 3: really gives us a leg up and being able to
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  Speaker 3: look out for each other right and make sure that
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  Speaker 3: everything actually is on the up and up.
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  Speaker 1: If we need more information about true to credit union
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  Speaker 1: as a whole, or maybe about protection, Joseph, how do
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  Speaker 1: we how do we how do we engage.
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  Speaker 2: True to SeeU dot org. We're available out on the web.
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  Speaker 2: And then if you have a concern, think there might
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  Speaker 2: be a scam going on eight hundred eight nine seven
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  Speaker 2: six nine nine one, give.
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  Speaker 1: Us a call.
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  Speaker 2: We have a dedicated fraud team here to protect you
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  Speaker 2: right here in town. It's your friends, it's your neighbors.
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  Speaker 2: We're here to work alongside of you to make sure
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  Speaker 2: that you know you are tected and taken care of well.
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  Speaker 1: Gentlemen, I want to thank you both for being here
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  Speaker 1: and Thomas, thanks for being on our side. I really
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  Speaker 1: appreciate advocating for all of this. Joseph, always good to
• 14:09
  Speaker 1: see you. Just remember Volks Truity a better way to bank.
• 14:13
  Speaker 1: Thank you very much for being with us here on
• 14:15
  Speaker 1: one on one with the pros right here on K one,
• 14:17
  Speaker 1: the one you trust. Thanks for listening to one on
• 14:22
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