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As James Cagney would say, “You dirty, double-crossing rat.” That’s the sentiment credit unions and small banks feel after falling for “social engineering” tactics.

Social engineers pretend to be someone they’re not in hopes that you’ll fall for their ploy and click on a link or attachment they send you that will surreptitiously download malware. 

Here’s an example of how social engineering works:  Someone sends to one person or many people at your credit union an email posing as a prospective member. The email might say, “Our company is thinking about opening a business account with your credit union. Please review our attached financial data and let me know which type of account would work best for us.”

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