Fraud Alerts

• Salem five Spoofing Scam Alert 12/18/2020

  We have received customer reports concerning criminals fraudulently impersonating Salem Five to verify fake transactions in an attempt to gain account access. As a reminder, Salem Five will NEVER call, text, or email you asking for your online banking log-on user ID or Password, the code you receive to get access, or your PIN or the 3-digit security code on the back of your card.

  What is a Spoofing Scam?

  From the Federal Trade Commission: Scammers are using fake caller ID information to trick you into thinking they are someone local, someone you trust – like a government agency or police department, or a company you do business with – like your bank or cable provider. The practice is called caller ID spoofing.

  With bank spoofing scams on the rise, here are just a couple examples of how they may take place.

  Scenario 1: You get a call from someone identifying themselves as your bank’s fraud department who wants to confirm a suspicious transaction on your account. They ask you to provide your personal information (like social security number or mother’s maiden name), and/or your financial information (like account or debit card number, PIN, or your online banking user ID or password). They may send you a text code to read back. Then, you start seeing transactions you didn’t initiate on your account.

  Scenario 2: You get a call from someone identifying themselves as your bank and offering you or your business COVID 19 assistance. They ask you to provide your personal information (like social security number or mother’s maiden name), and/or your financial information (like account or debit card number, PIN, or your online banking user ID or password). They then use this information to open accounts or loans in your name or transact on your existing accounts.

  Be careful what you share, and remember:

  • Don't share your online banking user ID or password, with anyone, even if they say they are from Salem Five. We will never call, text or email you and ask for this.
  • Don't share the passcode you receive via text when logging in to online banking. We will never ask you for this information.
  • Do enroll in our real time text alert program to identify suspicious debit card transactions by giving us a call or sending a secure online banking message.
  • Do frequently check your account online to review for any suspicious transactions that may have occurred.

  
  Salem Five is also here to help! If you believe you have been a victim of a scam, or have provided someone your account or online banking information, contact us immediately at (800) 850-5000.

  
  For more information visit the FTC site here.

   

• Fraud Alert: Unemployment Benefit Scam Update 11/18/2020

   

  Content provided by the Federal Trade Commission: Is a scammer getting unemployment benefits in your name?  Click here for details.

  In a large-scale scam erupting in the midst of the Coronavirus pandemic, imposters are filing claims for unemployment benefits, using the names and personal information of people who have not filed claims. People learn about the fraud when they get a notice from their state unemployment benefits office or their employer about their supposed application for benefits.

  If this happens to you, it means someone is misusing your personal information, including your Social Security number and date of birth. Act fast. Here are steps that can help you protect your finances and your credit:

  1. 1. Report the fraud to your employer. Keep a record of who you spoke with and when.
     2. Report the fraud to your state unemployment benefits agency. You can find state agencies here.
        • If possible, report the fraud online. An online report will save you time and be easier for the agency to process.
        • Keep any confirmation or case number you get. If you speak with anyone, keep a record of who you spoke with and when.
     3. Visit gov to report the fraud to the FTC and get help with the next important recovery steps. These include placing a free, one-year fraud alert on your credit, getting your free credit reports, and closing any fraudulent accounts opened in your name. IdentityTheft.gov also will help you add a free extended fraud alert or credit freeze to your credit report. These make it more difficult for an identity thief to open new accounts in your name.
     4. Review your credit reports often. For the next year, you can check your reports every week for free through annualcreditreport.com. This can help you spot any new fraud quickly.
        
        

     One other thing: The unemployment payments usually are deposited to accounts the imposters control. But sometimes payments get sent to the real person’s account, instead. If this happens to you, the imposters may call, text, or email to try to get you to send some or all of the money to them. They may pretend to be your state unemployment agency and say the money was sent by mistake. This a money mule scam and participating in one could cause you more difficulties.
     
     

     If you get benefits you never applied for, report it to your state unemployment agency and ask for instructions. Don’t respond to any calls, emails, or text messages telling you to wire money, send cash, or put money on gift cards. Your state agency will never tell you to repay money that way. Anyone who tells you to do those things is a scammer. Every time.
     
     
     

• Fraud Alert: Small Businesses Targeted via Spoofed SBA COVID-19 Relief Webpage 8/13/2020

  
  The Cybersecurity and Infrastructure Security Agency (CISA) issued an alert about an unknown malicious cyber actor spoofing the Small Business Administration's COVID-19 relief webpage through phishing emails which contain a malicious link to a fake page used for re-directs and credential stealing. The phishing email subject line currently reads, “SBA Application - Review and Proceed,” and the sender is marked as  “disastercustomerservice@sba[.]gov.” The alert provides information, including recommended mitigations, for small businesses to take to strengthen their cybersecurity posture. Best practices recommended by CISA include, but are not limited to, the items below. System owners and system administrators should review any configuration change prior to implementation to avoid unwanted impacts. 

  • Include warning banners for all emails external to the organization.
  • Maintain up-to-date antivirus signatures and engines. See Protecting Against Malicious Code.
  • Ensure systems have the latest security updates. See Understanding Patches and Software Updates.
  • Exercise caution when opening email attachments, even if the attachment is expected and the sender appears to be known.

  
  Read the alert

   

• Fraud Education Alert: What is a Spoofing Scam? 6/4/2020

  
  From the Federal Trade Commission: Scammers are using fake caller ID information to trick you into thinking they are someone local, someone you trust – like a government agency or police department, or a company you do business with – like your bank or cable provider. The practice is called caller ID spoofing.

  With bank spoofing scams on the rise, here are just a couple examples of how they may take place.

  Scenario 1: You get a call from someone identifying themselves as your bank’s fraud department who wants to confirm a suspicious transaction on your account. They ask you to provide your personal information (like social security number or mother’s maiden name), and/or your financial information (like account or debit card number, PIN, or your online banking user ID or password). They may send you a text code to read back. Then, you start seeing transactions you didn’t initiate on your account.

  Scenario 2: You get a call from someone identifying themselves as your bank and offering you or your business COVID 19 assistance. They ask you to provide your personal information (like social security number or mother’s maiden name), and/or your financial information (like account or debit card number, PIN, or your online banking user ID or password). They then use this information to open accounts or loans in your name or transact on your existing accounts.

  Be careful what you share, and remember:

  • Don't share your online banking user ID or password, with anyone, even if they say they are from Salem Five. We will never call, text or email you and ask for this.
  • Don't share the passcode you receive via text when logging in to online banking. We will never ask you for this information.
  • Do enroll in our real time text alert program to identify suspicious debit card transactions by giving us a call or sending a secure online banking message.
  • Do frequently check your account online to review for any suspicious transactions that may have occurred.

  Salem Five is also here to help! If you believe you have been a victim of a scam, or have provided someone your account or online banking information, contact us immediately at (800) 850-5000.

  
  For more information visit the FTC site here.

   

• Fraud Alert: Coronavirus Scams to be Aware Of 4/3/2020

  
  In a time of increased global concern, as well as a lot of information from various sources, it is important to recognize a COVID-19 contact that may be a scam. Scammers are always looking for an opportunity to take advantage of a situation. Here are a few scams to be aware of related to COVID-19, directly from the American Bankers Association:

  • Phishing and supply scams. Scammers impersonate health organizations and businesses to gather personal and financial information or sell fake test kits, supplies, vaccines or cures for COVID-19.
  • Stimulus check or economic relief scams. There are reports that the government will help to ease the economic impact of the virus by sending money by check or direct deposit. However, the government will NOT ask for a fee to receive the funds, nor will they ask for your personal or account information.
  • Charity scams. Fraudsters seek donations for illegitimate or non-existent organizations.
  • Delivery of malware through “virus-tracking apps” or sensationalized news reports.
  • Provider scams. Scammers impersonate doctors and hospital staff and contact victims claiming to have treated a relative or friend for COVID-19 and demand payment for treatment.
  • Bank/FDIC scams. Scammers impersonate FDIC or bank employees and falsely claim that banks are limiting access to deposits or that there are security issues with bank deposits.
  • Investment scams often styled as “research reports,” claiming that products or services of publicly traded companies can prevent, detect, or cure COVID-19.

  Scammers commonly request payment by wiring money, with reload cards, or with gift cards because they can get cash quickly and remain anonymous. They also can ask for access to your online banking, which they will then use to deposit counterfeit checks and instantly transfer money out before the check is returned. Unfortunately, this money is almost impossible to recover.

  Salem Five is here to help!  If you believe you have been a victim of a scam or have provided your online banking information, contact us immediately at (800) 850-5000.

  • Additional information from the ABA on how to avoid becoming a scam victim.
  • Additional information from the Federal Trade Commission.
    
    
• Fraud Alert: Coronavirus Scams Targeting Businesses and Consumers 3/26/2020

   

  • Click below to get important information from the FTC on coronavirus scams which target businesses and consumers and how to protect yourself:
     
    • Read FTC: Seven Coronavirus Scams Targeting Your Business
      
      
    • Read FTC: Coronavirus Scams Targeting Consumers

   

• Fraud Alert: Coronavirus Scams Using FDIC's Name 3/19/2020

   

  • Click below to get important information on FDIC-insured banks and how to protect yourself from coronavirus scams:
    
    
    • Read FDIC: Insured Bank Deposits are Safe; Beware of Potential Scams Using the Agency's Name