security

Alert - New Mobile Deposit Scam

Digital banking fraud is on the rise.  Worldwide, innocent people are learning the hard way.  Consumers need to be wary of receiving checks (Cashier’s check, Money Orders, Business Checks, Personal Checks) from someone you do not know.  If it seems too good to be true, it usually is!

Recently, a new scam involving mobile deposits has been uncovered.  The scammer sends the victim (you) a bank check and instructs you to deposit the check via mobile deposit. The reason they give for sending the check varies (‘You Won’ just cash this check and send us the processing fee, “Pre-qualified loan or credit card” send the final closing fees, etc.). They are specifically directing you to deposit the check via mobile deposit because it HELPS THEM.

 This scam helps the scammer:

            -Because front-line banking staff are trained to be alert for possible scams, if members are depositing the counterfeit checks remotely, then the first line of defense is eliminated.  The opportunity for discussion regarding the check is lost and makes members more vulnerable.

            -Many institutions offer immediate availability of funds on mobile deposits, generally under a certain dollar amount, thus making the process faster and easier for the scammer.

            -Victims (Members) assume that if the deposit is accepted then the check must be legitimate. It can take up to 4-6 weeks for a check to be returned as fraudulent.

What should you do:

            -If you receive a check from someone (or a company or trust) that you were not expecting or do not know, bring it into your local branch and review the details with a teller or service representative. Until the credit union is able to confirm the funds, you are responsible for any funds you withdraw against the check.  Even if the funds appear to be available immediately, it does not mean the check is valid. 

            -NEVER use untraceable methods of payment. If you are asked to wire funds, this could be a red flag, especially if you were not expecting nor do not know, who is sending you money or making this request. Many scams send you a counterfeit check and then ask you to return funds to them. If this sounds familiar, be wary!

            -NEVER give your remote deposit user name or password to anyone! Fraudsters will often inform victims that they can remotely deposit the check for them if they provide them their remote deposit information. If this should happen, notify your banking institution immediately and set up new passwords.

            -Stay up-to-date on new alerts and warnings.  Many local police departments, the FTC, FBI and Attorney General websites will have updates on new scams.  Many times it’s the same scam, new approach. Spread the word, let your family, friends and neighbors know when a new alert comes out!

Fairhaven Police Warn of Gift Card Scam Targeting the Elderly

The Fairhaven Police have warned of an incident in which an elderly individual in Fairhaven was contacted and told to buy large sums of gift cards. They were asked to send the gift card numbers to the caller. Please remember that no one will offer to reimburse you over the phone using gift cards. Please see the link below to learn more about the scam:

https://www.newbedfordguide.com/fairhaven-police-report-gift-card-scam-that-targets-the-elderly/2017/12/30