When Debit or Credit Card Fraud Occurs, Know What to Do 

Madison, WI – September 15, 2023 – Every day, UW Credit Union sees troubling examples of members impacted by fraud.  

While preventive steps are the best way to avoid being victimized, a global increase in scams has created a challenging environment for keeping your hard-earned money safe. Our Loss Prevention Team is fully committed to helping you keep your funds secure and offers the following advice. 

What you can do to protect yourself 

• Regularly monitor your account activity.  
• Never give someone the security code UW Credit Union texts you. 
• Enable authentication on cash apps like Venmo or Paypal to prevent unauthorized access.  
  • Apple Cash already requires authentication for each transaction.  
  • Paypal – enable Passkey and disable “extend your login session” 
  • Venmo – enable Face ID & PIN 
• Be aware of security risks in allowing someone to use your phone where they could access cash apps. These services are like using cash; they do not have the same VISA protections as UWCU debit or credit cards. 
• Be particularly wary of anyone requesting you purchase money orders or gift cards to send parties on their behalf.  

UW Credit Union uses the Visa Dispute Resolution Process to investigate claims of fraudulent credit card activity. In cases where Visa regulations have been violated, we assist in restoring funds fraudulently taken from member accounts. 

If you’ve been the victim of fraud, what you do next may vary.  

• If you suspect fraud on your UW Credit Union credit or debit card, log in to Web Branch or our digital app and click “dispute transaction” for the item in question. You can also call our Member Solutions Center during standard business hours at (800) 533-6773.  
• If you’ve lost funds through a scam using PayPal, Apple Pay or another money-transfer service – report this information immediately to local police. This initiates the legal process for attempting to recover fraudulently taken funds. 

Additional security features 

Key security options available with UWCU accounts: 

• Instant alerts keep you informed of account activity as it occurs. 
• Credit reports enable you to monitor your credit score and identify activities you might not be aware of. 
• Card locking disables the use of your card should it be misplaced. 

Working together, we can maximize the ways we keep your money safe.