Consumer Alerts

Consumers have been reporting suspicious text messages and calls from scammers posing as their bank, walking them through steps to send money with a payment app. Keeping your information safe is our highest priority. While while we may contact you to alert you to unusual activity on your account – we’ll never ask you to give us sensitive passcodes, PINS or credentials. If you’re ever not sure if a communication you receive from us is authentic, give us a call at 800.922.6872 to confirm. Watch this educational video from our partners at Zelle® to learn more about payment app scams […]

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 safe tools like online and telephone banking can help you pick up on suspicious activity faster and between statements. Contact your financial institution immediately […]

Businesses, alert your accounting and HR personnel to a recent uptick in payroll scams. In the latest scheme, scammers are contacting businesses posing as an employee looking to change their direct deposit account information. Once a change is made, the employee’s payroll is diverted to a fraudulent account. In some cases, the scammer poses as or name drops company executives or senior managers to help them seem legitimate. To prevent payroll fraud, it’s critical to educate employees on safe email practices and to have multi-layer verification processes in place to confirm identity before changes are made. Fraud prevention measures may […]

The MVSB Fraud Team has reported an increase in Facebook Marketplace scams involving money transfer apps. When selling items online, it’s important to be on the lookout for scams so you don’t fall victim. In the latest Marketplace scam, a fraudster pretends to be an interested buyer for an item and comes to an agreement with the seller to purchase the item. The buyer offers to send payment through a money transfer app and asks for the seller’s email and phone number to do so. The fraudster then sends a spoofed email impersonating the money transfer app stating that they […]

Smartphone users should be cautious when downloading apps, particularly through browser and social media, as there has been a reported rise in cyber criminals creating malicious apps in an attempt to install malware and steal personal information. These scammers may copy legitimate apps in an attempt to trick the user or create new ones disguised as a mobile game or tool. What is malware? According to the Federal Trade Commission, malware is one of the biggest threats to personal devices and includes viruses, spyware, and other unwanted software. Once installed through the malicious app, criminals can use it to steal […]

With ongoing global concerns about cybersecurity, including potential malicious cyber activity from Russia to the United States, our dedicated Information Technology and Fraud Teams have been working diligently to ensure our customer information and systems remain secure. We use multiple layers of protection and employ a team of analysts that review unusual activity on customer accounts, including debit card transactions, online banking, money wiring and more. “The protection of customer data continues to remain a top priority at MVSB,” said Jay Bisson, Vice President, Information Security Officer. “We have detailed and in-depth policies, procedures, technical measures and enhanced monitoring to […]

Have you booked travel with booking.com recently? Our Fraud Department is seeing an uptick in reports of fraudulent phishing emails from scammers posing as Booking.com representatives. The emails request personal information or claim that a refund is due for a recent purchase. In one reported scenario, a Booking.com customer described making a transaction from the booking site and shortly after received an email claiming to be from the company. In the email, it was stated that the customer was charged twice for a recent transaction and was instructed to call the phone number in the email to talk to a […]

The MVSB Fraud Team wants to alert to an increase in wire scams targeting local residents and consumers nationwide. In the schemes, fraudsters often use scare tactics to create a sense of fear and urgency. If you get a call from someone asking you to wire funds, it’s likely a scam and you should hang up. Common wire scam scenarios include, a call or notification that:You’ve been hired for a job that requires you send money to a client or supplier in advance of being paid. Your application has been accepted for apartment advertised online, but you must wire deposit […]

The Federal Bureau of Investigation (FBI) has reported a rise in cybercriminals tampering with both physical and digital Quick Response (QR) codes. To best protect your personal and financial information, it’s important to know how QR codes work and steps to avoid becoming a victim. What is a QR code? A QR code is a square barcode that users can scan with their smartphone camera that redirects them to a website, payment portal or application download. They are often used for contactless transactions or direct access to a web link without typing in the web address. You might find them […]

In time of crisis, like the invasion of Ukraine, many of us look to for ways to help those affected by donating money. Unfortunately, scammers often take advantage of emotions and newsworthy events and ramp up their efforts to by creating fake charities or other schemes. According to the Federal Trade Commission (FTC) website, if you are looking to support the crisis in Ukraine or other groups in need, it’s important to know the signs of a scam and how to protect yourself. Avoid scams and make sure your donation makes it to where it’s needed:Before you donate, take time […]