OSU Federal Credit Union reported to Corvallis police that more than $80,000 in fraudulent charges were made on its members’ credit cards between June 8 and June 26.
Corvallis Police Capt. Dave Henslee said the department receives reports of cases this size less than once a year.
Although payment card fraud is not uncommon, Henslee said “this is not something we typically see in this large an amount.”
According to Henslee, OSU Federal is considered the victim in the case because it has reimbursed its members for the fraudulent charges made on their accounts.
Henslee said the credit card information, rather than the physical cards, was compromised, and the fraudulent charges were made at stores throughout Oregon, Washington and California. Because the fraud spreads through such a large jurisdiction, the Corvallis Police Department has forwarded the case to the Oregon Department of Justice. None of the fraudulent purchases were made in Corvallis.
There is no information about potential suspects at this time, and police are unsure if the purchases were made online or in stores.
Henslee added that in addition to the charges that were successfully made, the credit union denied another $73,000 in fraudulent charges.
The credit union reported to police that “numerous” accounts were compromised, said Henslee. He added that the fraud was uncovered through members reporting fraudulent charges to OSU Federal.
Mike Corwin, with OSU Federal Credit Union, said they have already contacted the affected members and are issuing them new cards.
“Our first priority is our membership. We will always protect members, and do everything we can to make (fraud) as difficult as possible.”
He said that at this time, OSU Federal staff doesn’t know how the card information was taken, and he doesn’t have a number for how many accounts were affected. The credit union is working with law enforcement on the case and is conducting its own investigation.
“It’s the environment we live in these days,” he said. “These cases are common.”
He said that he hopes that people are checking their transaction statements for fraud each month, but the credit union also monitors for fraud.
“We’re always looking at making sure we are on the cutting edge of using technology to defend against this,” he said.