Fraud Alerts

• 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

   

• Fraud Alert: Protect Yourself From Spoofing Scams 7/11/2019

   

  • A common “spoofing” scam has recently resurfaced where callers mask their identity on caller ID or email with our Contact Center information in an attempt to make a request for your online banking username and password.  This is a reminder that Salem Five Bank will never call or email you and ask for your banking log-on credentials.  If you receive a call or email requesting these items, please deny the request and reach out to our Contact Center (800) 850-5000 at your earliest convenience so that we are aware of the activity targeting Salem Five Bank customers.
    
    
    • Here are some additional steps you can take to learn about and prevent fraud.