Consumer Alerts

The Federal Trade Commission (FTC) is warning consumers to be cautious of scams targeting those trying to fix or improve their credit. According to the FTC, fraudulent “credit repair” companies often promise to remove accurate negative information or create a new credit identity for a fee—claims that are both misleading and illegal. Scammers may also ask for payment upfront before providing any services, which is a violation of federal law. Consumers should be wary of any company that guarantees quick fixes or instructs them to dispute accurate information on their credit report. The FTC advises individuals to take control of their credit by […]

The American Bankers Association (ABA) warns that artificial intelligence (AI) is fueling a new wave of sophisticated scams in 2026, including AI-generated romance scams and “machine-to-machine” fraud. According to the ABA Banking Journal, criminals are using AI tools to create convincing fake identities, mimic voices, and automate scam operations at scale. These tactics make it increasingly difficult for consumers to distinguish between legitimate communications and fraudulent ones. The report highlights that romance scams, in particular, are becoming more personalized and emotionally manipulative due to AI’s ability to analyze social media data and tailor messages to victims. The ABA also notes the rise […]

The Federal Trade Commission (FTC) has issued a warning about a surge in scam calls from individuals pretending to be IRS agents demanding payment for supposed back taxes. According to the FTC’s alert, these scammers often use threats of arrest, license suspension, or property seizure to pressure victims into paying immediately through wire transfers, gift cards, or cryptocurrency. The FTC emphasizes that the IRS never initiates contact by phone, email, or text to demand payment or threaten legal action. Consumers are urged to hang up immediately if they receive such calls and to avoid sharing personal or financial information. Scammers often use caller […]

As Valentine’s Day approaches, scammers are taking advantage of the season of love to target people through online dating sites, social media, and messaging apps. These “romance scams” often begin with friendly conversation and emotional connection before turning into requests for money or personal information. Scammers may claim to need funds for travel, medical emergencies, or business problems, but once money is sent, they disappear. The Federal Trade Commission (FTC) reports that romance scams cost consumers hundreds of millions of dollars each year, making them one of the most financially damaging forms of fraud. To stay safe, it’s important to be cautious when communicating with […]

As excitement builds for the 2026 Winter Olympics in Italy, the Federal Trade Commission (FTC) warns travelers to stay alert for scams targeting those planning trips to the games. According to the FTC, fraudsters are creating fake websites and social media pages that mimic legitimate travel agencies, ticket sellers, and rental companies. These scams often promise discounted tickets, exclusive accommodations, or VIP experiences, only to disappear once payment is made. Travelers are urged to verify the authenticity of any site before entering personal or financial information. The FTC advises consumers to book only through trusted sources, avoid wire transfers or cryptocurrency payments, and use credit cards for […]

Imagine this: you’re in the middle of buying your dream home and have been emailing your attorney to finalize the details. Then, an email arrives saying the wire instructions for your $45,000 down payment have changed. It looks completely legitimate, so you follow the new directions and send the money. Unfortunately, the funds never reach your attorney. Instead, they’re gone — wired straight into a scammer’s account. This type of fraud occurs when criminals gain access to your email account and monitor your email conversations. Once they spot an opportunity, they send a convincing message that appears to come from […]

A recent Forbes Technology Council article highlights how time-based analysis is becoming one of the most powerful tools in detecting and preventing fraud. The article explains that timing patterns—such as how quickly transactions occur, the intervals between login attempts, or the speed of data entry—can reveal suspicious behavior that traditional fraud detection methods might miss. By analyzing these temporal signals, organizations can identify anomalies in real time and stop fraudulent activity before it causes harm. The Forbes piece emphasizes that fraudsters are constantly evolving their tactics, making static security measures less effective. Time-based analytics, however, provide a dynamic layer of defense by focusing on behavioral patterns […]

Local businesses are reporting a surge in dubious phone calls, allegedly from their local bank. These scammers often attempt to confirm or modify payment details or online banking credentials, which they then exploit for fraudulent activities. These scammers cleverly use publicly accessible information about bank employees to lend credibility to their calls. With the advancement in technology, they’re even employing AI to imitate voices and spoof caller IDs, making the calls appear more legitimate. It’s crucial to remember that MVSB, along with other trustworthy banks, will never reach out to you for sensitive information that’s already in their records. Such […]