Fraud Alerts

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 target 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.

We have seen reports of this type of scam and want our customers to be aware and on the lookout:

A Common Scam Scenario: You receive a text message from an imposter, pretending to be your bank to alert about a suspicious transaction. Upon receiving a response text declining the transaction, the criminal calls you, pretending to be the bank’s fraud department. They request your online account username and one-time password to gain access to your account. When the criminal accesses your online account, the criminal registers for Zelle^®, or uses another instant payment method, to take your money from your account. If you receive a legitimate Salem Five fraud alert request caused by the criminal’s activity in your account, the criminal will try to convince you to authorize the request, so that you can “receive a refund” from the previously fraudulent transaction.

Let's work together! Salem Five works hard to protect the security of your information, but your participation is key.

Help protect yourself:

• Your financial institution will never call you to request information you received via text (SMS) or pressure you to reset your online banking log-in password
• Don’t trust caller ID; Caller ID can be modified to show your financial institution’s name
• Don’t provide your online banking log-in credentials, one-time password, account number or personal information by email or text or phone call. Using Salem Five’s phone number, reach out to Salem Five to confirm that the request is legitimate
• Don’t give information over the phone if you receive a call stating that a transaction is canceled, even if the caller claims to be from Salem Five. Once again, contact Salem Five using a published phone number to inquire about the transaction
• Don’t click on links in unsolicited emails or texts
• Don’t give an unsolicited caller remote access to your computer
• Use strong passwords, which include complex configurations not easily guessable, and are not the same for other banks or other online services.
• Cybersecurity experts recommend you keep your device anti-virus software up-to-date and run security scans regularly.
• Frequently check your account online to review for any unauthorized transactions that may have occurred. If anything looks concerning, or you have given out your online banking information, reach out to us immediately!

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

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.
   
   
   

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

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 target 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.