Is that email or call really from DRS?
We often hear about email and phone schemes targeting public employees. Scammers disguise themselves as the Department of Retirement Systems representatives and request personally identifiable information from unsuspecting recipients. These days, we’re all on high alert for this type of fraudulent behavior. But the scams change because more and more people are savvy to them. It’s important to keep up-to-date and refresh your knowledge about how to avoid identity theft and recognize fraudulent calls, emails, texts and video calls (such as Zoom).
What to do
We will never contact you to offer retirement planning assistance. If you would like to talk to someone at DRS about your retirement, you can schedule an appointment through your online account or call DRS.
If you are contacted by someone claiming to be a retirement planner or advisor working for DRS, hang up the phone or don’t open the email. You can report the incident by contacting DRS.
Because legitimate advisors may also call or email you, here are some resources you can use to verify them:
- The Washington State Department of Financial Institutions (DFI) has many resources and urges extreme caution before responding to any solicitation offering investment or financial services. Investment professionals must be licensed with DFI.
- To check licensing status and to find out if there are any complaints against an investment professional or investment product, visit FINRA Brokercheck or contact DFI’s Securities Division at 360-902-8760. If you live outside of Washington state, contact your state securities regulator.
- The Investment Adviser Public Disclosure website is operated by the US government. You can look up advisors to find out if they’re fake. Plus, you can call 877-746-4334, for help verifying an advisor’s license.
How we keep your account secure
Your online account includes multi-factor authentication (MFA). MFA allows us to combine things such as your email, and text messaging to confirm and authorize access. We also provide Account Security Information that includes a short video and a list of tips and steps to take if you think you’ve been a victim of fraud.
Remember: Don’t share your passwords. Never provide your passwords through email, via text, on the phone, through the US mail or in a video call (such as Zoom). Also, if a company tells you about a breach – especially one involving your password – immediately change the password if it was used for your DRS account.
