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Understanding Verification Codes

April 19, 2024

What are verification codes?

Verification codes are one-time passwords that are randomly generated in order to act as a second form of security for your online accounts and information. Verification codes are also usually time sensitive, only valid for a short period of time. This adds an extra layer of security. These codes are usually sent to you from the organization you’re trying to access through a text message, phone call, email, or an authenticator app. It’s important to note that legitimate verification codes will never be sent unsolicited. Organizations will only send these codes when they are prompted to. Sometimes it can be confusing understanding when a verification code is legitimate and how much security is needed when dealing with them, so let's delve deeper into understanding these essential tools for safeguarding our online presence.

When do I share my verification code with someone?

Never share a verification code with anyone.

It's crucial to understand that in such situations, members should only provide a code if they initiated the call to TVFCU at 423-634-3600.

A note of caution: Fraudsters can manipulate caller IDs to display our legitimate phone number, 423-634-3600, in their attempts to deceive members. This means that receiving a call from this number does not guarantee its authenticity.

To safeguard against such scams, members should remain vigilant and only disclose their code numbers if they have personally initiated contact with TVFCU using the official phone number provided. This simple precaution can help prevent unauthorized access to your account and protect your financial well-being.

These codes are meant to be kept private in order to successfully protect your account information. If a customer service representative cold calls you and asks for the code while you're on the phone, it is most likely a phishing attempt to gain access to your accounts. If anyone ever requests access to your verification code, then consider that to be a red flag and do not share it. The code is only meant for you to input it into the website or app you are trying to log in to; that is the only place the code goes to – after that it should be completely disregarded. If you share your verification code with someone, that person may gain access to your accounts and make you a victim to fraud or identity theft.

When will TVFCU ask for a verification code?

Any time that TVFCU asks for a verification code, it is because the member initiated it; TVFCU will never send you an unsolicited code. Two examples of when you might initiate receiving a verification code are:

  • When calling TVFCU’s general number and speaking to one of our live agents, and they need to send a code to the mobile number on file to properly verify you.
  • When a one-time passcode is prompted while attempting to login to the YOUR$ app.

How can I be sure my verification code is not a fraud attempt?

Here are some tips to help you verify the authenticity of a verification code request:

  • Verify the Source: Ensure that the request for your verification code is coming from a trusted and legitimate source. Check the sender's email address, domain, or phone number to confirm its authenticity. You can also reach out to the organization’s customer service line (a public number, not one given to you via email directly from the sender) and ask them directly if they sent you a verification code.
  • Exercise Caution: Be wary of unsolicited requests for verification codes, especially if they come from unfamiliar or suspicious sources. Do not provide your verification code unless you initiated the action and trust the recipient implicitly.
  • Educate Yourself: Stay informed about common phishing tactics and familiarize yourself with the security practices of the platforms and services you use. Report any suspicious activity or fraudulent requests to the appropriate authorities or service providers.

Remember, verification codes are crucial tool in order to protect our accounts and identities from fraud and identity theft. Always think carefully when you are in situations that may raise a red flag and be aware of the new scam communication tactics. You can visit the Federal Trade Commission’s website for more information on the latest scams.


Related Links: https://consumer.ftc.gov/consumer-alerts/2024/03/whats-verification-code-and-why-would-someone-ask-me-it https://youtu.be/PPcg3Cztv-U?si=v8iIipjtUMzU0Hds

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