Con-artists, fraudsters, scammers – whichever you prefer to call them – will play on your emotions, whether it is a scare tactic or playing on our goodwill, to get the information they need to conduct the next steps of their fraudulent scheme. A common scheme for fraudsters is to contact you stating that there has […]
Paycheck Protection Program Application Deadline Extended to May 31
The Small Business Administration (SBA) is currently offering Paycheck Protection Program (PPP) loans via local banks through May 31st as part of the the Paycheck Protection Program Extension Act. This Act allows new loan applications to the program, originally set to expire on March 31, for two more months and give the SBA 30 additional […]
6 Tips to Protect Yourself from Fraud
Our Fraud Management Team offers the following tips to protect yourself from criminals looking to steal your identity and/or your money: Review your credit and online banking regularly. Contact your bank immediately if you notice anything unexpected. Do not open emails you are not expecting. Do not click on pop-ups or gift ads. If you’re not […]
Are Your Mobile Apps Eavesdropping on You?
It’s no secret that companies capture information about what you are looking at online and use it to target advertising messages. This includes what you click on, how long you are on a website, your social media activity, and demographics, as well as what you search for. But did you ever wonder if the apps […]
Federal Income Tax Filing and Contributions Deadline Extended to May 17
The Internal Revenue Service has extended the federal income tax filing due date for individuals for the 2020 tax year to May 17, 2021; automatically extending the contribution deadline for dual Retirement Accounts (IRA), Health Savings Accounts (HSA), and Coverdell Education Savings Accounts (ESA) to the same date. Despite the extension, the does urge taxpayers […]
1099-G Unemployment Compensation Form Scams
The National Unemployment Insurance Fraud Task Force (NUIFTF) has issued an alert warning the public about the issuance of erroneous 1099-G forms. 1099-G forms are issued to recipients of certain government payments, including unemployment compensation. Since unemployment insurance (UI) is taxable income, the State Workforce Agency (SWA) issues 1099-G forms to UI and Internal Revenue […]
Economic Impact Payment Fraud
The Financial Crimes Enforcement Network (FinCEN) recently issued an advisory regarding fraudulent COVID-19 Economic Impact Payments (EIP). U.S. authorities have identified numerous EIP-related fraud schemes such as: Fraudulent Checks: Fraudulent checks are mailed to victims, instructing the recipients to call a provided number to cash the fraudulent relief checks. Victims are asked to provide personal […]
Home Warranty Frauds Being Reported
Area residents are reporting phony new home warranty final notice letters received by mail. The letters mention the mortgage company or bank where mortgage is held. The companies sending these letters use publicly available information from the county Registry of Deeds to offer their services to local homeowners, but the services are not sponsored by […]
Mobile Wallet Frauds Being Reported
MVSB and other local financial institutions are seeing an uptick in Mobile Wallet Fraud, a form of mobile payment scam using stolen credit cards. The scam begins when a victim receives a call claiming to be from their bank. The caller ID even reflects the bank’s correct phone number, as it has been spoofed or […]
Beware of Imposter Federal Trade Commission (FTC) Website Entitled “US Trading Commission”
We have received reports of an imposter Federal Trade Commission (FTC) website, entitled “US Trading Commission” that is being used to fraudulently capture sensitive information from unsuspecting individuals. The website appears realistic and looks official. It even includes the FTC’s seal and physical address. The fraudulent website claims to compensate those who have had their […]