NEW YORK–Credit unions have embraced QR codes as much as any industry, both in offering services to members and as a means of downloading reports and information during meeting presentations. But the technology increasingly comes with risks, according to the FTC—risks credit unions might also want to warn members about.
The codes, which have become ubiquitous with approximately 94 million U.S. consumers using smartphone QR scanners according to a projection by eMarketer, is projected to continue to grow.
But Alvaro Puig, an FTC consumer education specialist, warned however, "Unfortunately, scammers hide harmful links in QR codes to steal personal information.
‘Why it Matters’
“Here's why that matters: Identity thieves can use victims' personal data to drain their bank account, make charges on their credit cards, open new utility accounts, get medical treatment on their health insurance and file a tax return in a victim's name to claim a tax refund, the FTC wrote in a separate report,” CNBC reported.
The news outlet further noted, for example, some criminals cover up the QR codes on parking meters with a code of their own, while others send codes by text message or email and entice victims to scan them, the FTC said in its consumer alert.
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