It sometimes can be difficult to know what to do if you are targeted by a scammer. This uncertainty and even feelings of embarrassment from falling victim to fraud often leads to underreporting of incidents and further financial damage. The good news? We are here to help. Our local bankers and fraud professionals are trained to identify scams and assist you with protecting your accounts and identity. No shaming here – only dedicated professionals with your best interest at heart. And our knowledge and awareness of the techniques that scammers are currently using helps up protect other individuals who may […]
Consumer Alerts
Stay Alert When Buying from Online Marketplaces
Consider this: You are shopping on Facebook marketplace and come across a high-end gaming console for only $250, well below the $500 retail value. You reach out to the seller, and they explain that it was recently purchased, but they need to sell some things to prepare to relocate. Then the seller explains that they are in another state at the moment but would be happy to ship it. They are getting lots of inquiries so it is best to move quickly if you want it. They ask for the $250 via a payment app and explain that they will […]
True Love Doesn’t Come with Strings Attached
As we celebrate Valentine’s Day with flowers and chocolates, remember that not all roses are without thorns. According to the Federal Trade Commission, millions of people fall victim to online romance scams each year – and they can be some of the most emotionally and financially devastating. Fraudsters easily use stolen and artificial intelligence (AI)-generated images to create online dating or social media profiles of celebrities, doctors, military personnel and more. They spark up virtual relationships, quickly putting themselves in a position to ask for money and pull at the heartstrings of their targets. Some romance scammers converse with their […]
Customers Receiving Fake Fraud Alerts
Our fraud mitigation team has received several phone calls today from customers who are receiving scam texts stating “Unusual Sign In Detected.” The message askes the recipient to respond YES or NO. If a response is sent, the customer then receives a phone call from a fraudster who will try to gather personal information such as online banking user names and passwords, text codes to change your online banking password or other personal information, such as account numbers, social security numbers, etc. Remember: Even if a call or text looks like it’s coming from your bank, it may be a […]
Your ‘Secret Santa’ Could Be a Scammer
You might be excited to receive a surprise package in the mail during the holidays and wonder ‘who could it possibly be from?’ But if you weren’t expecting it and there is no return address, it’s likely a scam. Third party online retailers and scammers use “brushing” schemes for a variety of reasons, many of which can put your personal information at risk. They always begin the same way: sending random recipients a small item by mail with no return address. You might receive a pack of seeds, an electronic device, a piece of jewelry, a household item or something […]
Warning Signs for Email and Social Media Compromise
Were you suddenly locked out of your email or social media accounts? Or has one of your contacts let you know they received an unusual message or friend request from you? These red flags often indicate one or more of your online accounts have been compromised. Taking quick action to regain access and change your usernames and passwords may allow you to recover access and most online services offer instructions to help. Click here for resources and links from the Federal Trade Commission (FTC). If you haven’t already, enable any optional authentication tools, such as one-time passcodes and login alerts. […]
Don’t Let a Scammer Steal Your Holiday Spirit
During the holidays, scammers take advantage of seasonal distractions to steal personal information and commit fraud. We’re already seeing an uptick in reports – particularly of convincing fraud alerts asking recipients to verify large transactions from well-known, national retailers. Scammers cast a wide net with these types of messages and it’s easy for them to pose as real businesses and banks by imitating logos, contact names and caller ID. While MVSB will alert you to suspicious activity by text message, we will never ask you to click on a suspicious link or respond with personal information, such as your account […]
Fraud Alert Scam Targeting Local Residents
Community members are once again reporting fraudulent text messages claiming to be from MVSB and other local banks. This time, the text message asks you to confirm a large transaction from a well-known national retailer, like Walmart, by clicking on a fraudulent link. If accessed the link mimics an online banking login screen and will instruct you to log in to online banking to verify. Instead of being logged in to review accounts, you have handed your username, password and secure access information to the cybercriminal to access your online banking and commit fraud. Remember: Never click on a suspicious […]
10 Tips to Protect Yourself from Fraud
According to the Better Business Bureau (BBB), thousands of new scams appear every year and it can be challenging to keep up with the latest tricks and techniques. It’s important to stay vigilant and look for warning signs, so they’ve shared these 10 tips can help keep you safe: Never send money via gift card or wire transfer to someone you have never met face-to-face. Avoid clicking on links or opening attachments in unsolicited emails. Don’t believe everything you see. Scammers are great at mimicking official seals, fonts, and other details. Just because a website or email looks official does […]
Be Vigilant When Donating to Hurricane Relief Efforts
During times of crisis, such as the devastating hurricanes in the southeast, scammers often take advantage of the kindness and generosity of those looking to help. Stay vigilant and follow these tips from the Federal Trade Commission (FTC) before contributing:Contribute to organizations that are known to you and take time to do your research. Find out how your money will be spent and if it goes to the people the charity says it helps. Never donate to anyone who insists you pay by cash, gift card, wire or cryptocurrency. Be cautious about giving to individuals on crowdfunding sites. Read the […]