If you receive calls, emails, or other communications claiming to be from the Treasury Department and offering COVID-19 related grants or stimulus payments in exchange for personal financial information, or an advance fee, tax, or charge of any kind, including the purchase of gift cards, please do not respond. These are scams. Please contact the FBI at www.ic3.gov so that the scammers can be tracked and stopped.
Money Mule Scams
Money mule scams are a type of scam in which criminals use their victims to move stolen funds. Money mule scams can take many forms and commonly involve online dating, work-at-home jobs or prizes.
In a typical scam, the fraudster sends the victim money to deposit into a bank account and then asks them to send some of it to someone else, usually through a gift card or a wire transfer. When the initial check is later found to be fake, victims are on the hook for the full amount.
Consumers can avoid money mule scams by never using their own bank accounts or opening a new account in their name to transfer money for an employer; never paying to collect a prize or move any money out of their “winnings”; and never sending money to an online love interest. If a money mule scam is suspected, consumers should break off contact with the scammer, inform their bank and report the incident to the FTC.
Do Not Abbreviate the Year 2020
Don’t leave yourself vulnerable to fraud by abbreviating the year 2020 on official forms and documents, including checks. Always include the full 4-digit year when writing a date.
Write 01/06/2020 instead of 01/06/20.
Scammers Can Fake Caller ID Info
Scammers are using fake caller ID information to trick you into thinking they are someone local, someone you trust – like a government agency or police department, or a company you do business with – like your bank or cable provider.
Don’t rely on caller ID to verify who’s calling. It can be nearly impossible to tell whether the caller ID information is real. Click the links below to learn more about how to handle these types of calls.
If you receive a suspicious inquiry from someone who says they represent a company or a government agency, hang up and call the phone number on your account statement, in the phone book, or on the company’s website to verify the authenticity of the request. The Bank of Glen Burnie will never solicit your personal, private information via email or telephone.
Protect Yourself from Fake Check Scams
Protect yourself from fake check scams with these tips from FDIC Consumer News.
Telephone Scam Alert
In this type of scam, a call comes through with someone acting as if they are from your bank and stating there has been fraudulent use of your debit card (or leading you to believe that by giving you some alleged recent transactions). Often people are so concerned that they give out personal information, assuming what they have heard is true. If this occurs, HANG UP and call your bank to confirm whether they have called you and verify whether there is any problem with your account. NEVER give out your personal/sensitive information on a call you didn’t place [to a company you know to be legitimate].
Protect Yourself from Caller ID Spoofing
Caller ID “Spoofing” occurs when a caller deliberately falsifies the information transmitted to your caller ID display to disguise their identity. Spoofing is often used as part of an attempt to trick someone into giving away valuable personal information so it can be used in fraudulent activity or sold illegally, but can be used legitimately, for example, to display the toll-free number for a business.
Counterfeit Cashier’s Checks Bearing the Name “The Bank of Glen Burnie” are Reportedly in Circulation
The Bank of Glen Burnie, located in Glen Burnie, Maryland, has contacted the Federal Deposit Insurance Corporation (FDIC) to report that counterfeit cashier’s checks bearing the institution’s name are in circulation. The information has also been shared with the Maryland Commission of Financial Regulation, the Federal Bureau of Investigation (FBI) and the United States Postal Service (USPS).
Keeping your personal information safe and secure is a top priority at The Bank of Glen Burnie®.
Protect Yourself from Phishing
“Phishing” is a term that is used to describe one of the fastest growing types of online fraud. Phishing involves someone impersonating your bank or another trustworthy entity through electronic communications such as emails, text messages or instant messages.
Resource Guide – Money Smart for Older Adults
This easy-to-ready guide published by the Consumer Financial Protection Bureau (CFPB) provides information for older adults, family caregivers and others to help prevent, recognize and report financial exploitation.
Unaffiliated Third-Party Bill Payment Websites
Unaffiliated third-party bill payment websites can create confusion for customers and often result in payment transactions on sites with no actual affiliation to the biller. Customers who use Google or other search engines to locate bill payment options are especially vulnerable to being misdirected to these unaffiliated third-party sites.
FDIC Consumer News: Shopping Online During the Holidays?
During the holiday season, we tend to make a lot more purchases online for travel and gifts, so it’s especially important to be vigilant about protecting your money.