The MVSB Fraud Team wants to alert to an increase in wire scams targeting local residents and consumers nationwide. In the schemes, fraudsters often use scare tactics to create a sense of fear and urgency. If you get a call from someone asking you to wire funds, it’s likely a scam and you should hang up.
Common wire scam scenarios include, a call or notification that:
- You’ve been hired for a job that requires you send money to a client or supplier in advance of being paid.
- Your application has been accepted for apartment advertised online, but you must wire deposit funds in advance – even before you’ve seen the apartment in person.
- You have won a prize and need to pay fees or taxes in advance to collect your winnings.
- A friend or relative has been in an accident or is in trouble and needs money urgently.
- You’re being investigated by a government agency for benefits or unpaid taxes.
- A government agency is claiming your bank account has been comprised and you should wire the money to them to keep it safe.
Bank employees and local law enforcement are trained to help customers avoid these types of scams and, knowing this, the fraudsters often coach the victim to make up a story about the transaction if it is questioned.
Go to https://consumer.ftc.gov/articles/you-wire-money to learn more about wire scams and steps you can take to avoid becoming a victim or to report them.
If you are a MVSB customer and you are concerned you wired money in response to a scam or someone is asking you to wire money for any reason, please call us directly at 800.922.6872.