We’ve been seeing an increase in reports of timeshare resale scams impacting area residents. Timeshare resale scams often begin when a phony vacation property company reaches out to a timeshare owner claiming to have guaranteed buyers and promising hefty returns for their timeshare. The company stresses that they must move quickly and be willing to pay registration, closing costs and other fees in advance of the sale. If you own or are selling a timeshare, be leary of companies that promise large returns and request upfront fees – two tell-tale signs that it’s likely a scam. If you own a […]
Consumer Alerts
IRS Lowers 2018 Family Health Savings Account Contribution Limit to $6850
The Internal Revenue Service (IRS) has announced a reduced Health Savings Account (HSA) contribution rate for families with High Deductible Health Plans (HDHPs). The 2018 maximum family contribution rate will be $6850 instead of the $6900 limit that had previously been announced. The maximum self contribution for 2018 will remain $3450. The IRS has cited recent tax changes and inflation-related increases as the reasons for the change. The new family contribution limit is effective immediately and any contributions over the limit could be subject to taxes and penalties. For more information, please see IRS Bulletin No. 2018-10. If you have any questions or concerns about your […]
Belknap County Sheriff’s Department Warns of Arrest Warrant Scam
The Belknap County Sheriff’s Department is warning the public of a new scam using the Sheriff’s Department’s name. It has been reported that fraudsters are calling area residents posing as a Deputies for the Belknap County Sherriff’s Department attempting to trick victims into providing sensitive account information over the phone. Scam call recipients have reported being told that there is a warrant out for their arrest and that bond must be paid to avoid being arrested. The caller then requests that the fine be paid over the phone and attempts to collect account and/or debit card information. It has also been reported that a […]
Know How Scammers Find Victims to Protect Yourself
Scammers find their targets through many sources, though the following avenues are most common, according to the American Bankers Association.Purchasing contact information: scammers can easily purchase survey responses, buy email contact lists, magazine subscription lists and organization membership lists. Using that information, they are able to setup robo-calls, send mass mailings or create email blasts to attract response. Prowling online and social media sites: the advantage of prowling online and social media sites is that many people reveal a great deal of information about their lives which, gives a potential scammer valuable touch points. Scammers then reach out to individuals […]
Increasing Occurrences of Social Media Fraud
There has been an increase in fraud involving social media, such as Facebook, in our local area. After a victim is friended by a scammer, the scammer goes out of his/her way to establish a friendship that the victim deems as legitimate. A lot of times, the scammer will take advantage of the good-naturedness of the targeted person, spinning tales that always involve requests for money. From there, the targeted individual, who believes he/she is helping out a new friend, is asked to wire funds or withdraw money. Many times, the scammer will go as far as to coach the […]
Rising Incidents of Online Dating Scams
An increasing number of consumers are being targeted in new and sophisticated scams involving online dating. In such instances, unsuspecting victims are being forced into sending money- sometimes thousands of dollars – to criminals through PayPal or other well-known online payment services. In our area, there have been reports of victims having long-term conversations with a person they believe to be an adult. After weeks, or even months of conversations, photos are exchanged and the victim is sent a photo of someone who is clearly a child or teen. Most victims immediately end online conversation at this time, but then […]
Beware of False Fundraising Campaigns
An unfortunate common approach that fraudsters use is to misrepresent that they are selling advertising for local schools, first responders, non-profits and even for-profit businesses. For instance, local businesses and consumers have reported to receiving suspicious solicitations for advertisements in false educational materials from local schools about drug and alcohol prevention. These requests were made by individuals claiming to represent fictitious fundraising organizations, with claims that local schools would benefit from the sales. The local schools did not approve nor were they aware of these efforts. Whether you receive a solicitation at work or at home on behalf of a […]
Bogus Casting Calls from Fictitious Digital Media Company
A common mode for fraudsters to gain access to people’s personal information and money is to offer work opportunities and/or send a large check for them to deposit and then wire some of the money back. Because the checks are fraudulent, the victim loses the money that they’ve wired out – and may put themselves at further risk for identity theft by offering personal information. For example, Local community members have reported to receiving solicitations from “Morningside Digital Media”, a fictitious modeling agency based in California. The company targets individuals who pursue employment in the entertainment, modeling and acting industries […]
Check Cashing Crimes on the Rise
A number of consumers have recently reported instances of fraudulent purchases as a result of stolen identification. Authorities have identified that many of these purchases were made by the Felony Lane Gang, a criminal organization which operates across the country, and is now targeting the New England region. The Felony Lane Gang is a sophisticated group that breaks into cars, steals checks and ID’s to make false checks. The checks are then made payable to unsuspecting individuals whose IDs were stolen. The criminals have been known to then disguise themselves to look like the victim based on pictures from the […]
Payments May Post to Your Account Faster After September 15
An upcoming change in the way payments are processed will allow electronic ACH debits under $25,000 (excluding international transactions) to go through on the same day you pay them. This processing change, effective September 15, may reduce the time between when you make a transaction and when it clears your account. To meet the needs of businesses and consumers in an increasingly fast-paced world, the National Automated Clearinghouse Association (NACHA) began a phased implementation of same day ACH transactions last fall. The first phase of the rollout began in September 2016 when same day processing was made available for ACH […]
