We have been alerted to a significant increase in Business Email Compromise (BEC) schemes targeting local businesses. Please remember: it can happen to anyone – even if you have solid information security protocols in place. In recent instances, the email accounts of local business owners or employees AND vendors they work with are compromised. The scammers get to know you and your business by intercepting and reviewing your confidential emails. This makes the communication to you and your employees exceptionally realistic and convincing. When fraudulent requests to update account information or make a payment are received, you or your employees […]
Consumer Alerts
Protect Yourself by Knowing the Signs of Card Skimming
There have been many recent reports of card skimmers present at large retail stores across New Hampshire, including at Walmart and Market Basket in Concord. To best protect your financial information, it’s important to understand how these devices work and to be alert to be alert when using your card. Card skimmers are illegal devices installed on card readers to capture the information stored on the card’s magnetic strip. This information includes your name, card number, expiration date, and security (CVV) code. In some cases, the fraudster will also add a microscopic camera or key logging device to capture additional […]
Payroll Scam Targets Your Business and Your Employees
Did you receive an email from one of your employees asking you to change their bank account for direct deposit? It could be scam. In a recent wave of payroll diversion scams, cybercriminals will impersonate your employee and email your payroll manager to update their bank account information for payroll direct deposit. The email may come from a legitimate company email that has been compromised or a fake email that appears to be authentic. If the change is completed, your employee’s paycheck is sent to an account set up by the scammer. Training employees to be cautious when receiving requests […]
10 Tips to Protect Yourself from Fraud
Fraud can happen to anyone at any time and you could be a scammer’s next target. Even if you think your identity and online accounts are safe and secure, it’s still important to take these steps to protect yourself: Review your credit at least annually. You are entitled to a complimentary copy of your credit from each agency annually and you can access request them online at www.annualcreditreport.com Review your account transactions and statements regularly. Using secure tools like online and telephone banking can help you pick up on suspicious activity faster and between statements. Contact your financial institution immediately […]
Steer Clear of Cryptocurrency Recovery Service Scams
The FBI has announced an increase in scammers targeting individuals who have lost money to cryptocurrency fraud and scams with a false promise to help recover the funds. The scammers may reach out via social media or even create online ads posing as recovery services to attract those seeking ways to recover their lost funds. They will ask for fees to complete the recovery process and then cease all communications without delivering results. To add legitimacy to the scam, they may claim an affiliation with a law enforcement agency. The FBI offers the following tips:Be wary of advertisements for cryptocurrency […]
Beware of Fake Calls and Texts from the Bank
Local residents are receiving calls, emails and text messages from fraudsters posing as bank employees asking for online banking, account and debit card information or to verify fake charges. If you are contacted asking for information about your MVSB accounts, please do not respond and call us directly for assistance. Communications from fraudsters can be convincing and they may even “spoof” the caller ID to appear as though the call is from a local bank number. Be wary of communication you aren’t expecting and remember, we will not ask for sensitive information via phone, email or text unless you have […]
Businesses: Don’t Get Tricked by a Fraudulent Invoice
Businesses should be on the lookout for fraudulent invoice emails at the beginning of each month. In this common scheme, called “Invoice Fraud,” scammers take advantage of the fact that many businesses receive an influx of invoices around this time and try to trick employees into giving out information, sending funds or clicking on links. While invoice fraud isn’t new, it has become more effective as more and more companies opt to or are required to receive invoices electronically. Common invoice fraud scenarios include:Overdue payment to a fake business. Recipients are bullied into paying invoices due to their threatening nature. […]
Beware of Fake Calls and Texts from the Bank
Customers from local banks and credit unions have reported that they are receiving calls and text messages from criminal fraudsters who claim to be reaching out from the bank. The scammer will often claim to be from the bank or the bank’s fraud center and indicate that there are potentially fraudulent transactions on their account and that they need to verify the transactions. The fraudster lists fake transactions and asks “did you make these purchase or are they fraudulent?” The fraudster will then ask for information that only you would know, such as your social security number or the last […]
Scammers Pose as Amazon Representatives
The MVSB Fraud Team has reported a recent uptick of Amazon scams targeting local residents. In most reports, scammers call posing as an “Amazon representative” asking to verify a bogus charge. When the victim replies that the charge is not authorized, the scammer then requests the name of their bank to transfer them to the “fraud department” to resolve the issue. In reality, the victim is transferred to another scammer posing as a fraud center employee looking to gather sensitive information such as their social security number or bank account details to commit fraud and identity theft. Remember, if any […]
Trending Scam Involves Transferring Money via Barcode
A recent scam has surfaced where fraudsters use barcodes to trick victims into transferring money. The scam begins with a call or text from someone claiming to be from the Federal Reserve. They state that your financial account has been compromised and money needs to be transferred to a federal safe deposit box as soon as possible to keep it safe. To perpetrate the scam, the caller will text you a barcode and instructions to visit a large retailer to have it scanned at the service desk. You will then be asked for your debit card to pay the funds […]
