Fraud Alerts

Be on the Lookout: Common Fraud Scams

Have you or do you know someone that has been asked to:

  • Provide online banking ID and/or password for a deposit to be put into an account?
  • Send money with instant payment transfer to someone you have not met personally?
  • Purchase prepaid debit or gift cards as payment?
  • Wire/money gram transfers as a result of a thread of law or fines?
  • Send an overpayment of funds received back from a sale of goods or a loan you applied for online?

These are just a few requests from fraudsters engaging in scam attempts, some of the most common are listed below. Financial loss most often occurs with the request of wire/money gram transfers, instant payment or electronic transfers, or the purchase of prepaid debit or gift cards.


Scam TypesDetails
DonationsIf someone wants donations in cash, gift cards, or instant payments or by wiring money, don't do it. Scammers may trick you by using similar names to real charities.
Romance ScamsYou have been told stories of tragedy and hardship to fool you into sending money or providing access to accounts.
Online Sale or  Online JobYou were selling something on the internet, or recently started a "secret shopper" or work from home job and received a check for too much money. You were instructed to deposit the check and wire the extra back.
Online Dating/Connection WebsiteYou met someone online and they are now requesting you deposit money for them and send them money back.
Payday Loan ScamThe "lender" is asking you to pay an upfront fee in either cash, wire, or gift card. The "lender" is going to pay or deposit money into your account. You have then been told to pay some or all funds back because they paid you the wrong amount.
IRS ScamThe Internal Revenue Service has demanded immediate payment for back taxes. They threaten an arrest warrant will be issued.
Tech SupportYou have been told that your computer is broken, hacked or has a virus and you are asked to send money so it can be repaired. Some more advanced ones appear that your computer has been "taken over" by the FBI.
Utility ScamSimilar to the IRS scam, except it is a gas or electric company claiming to shut your heat or power off if payment is not made immediately over the phone.
Bail Bond Scam (aka Grandparent Scam)You have been told a family member has been in an accident or arrested, is in jail and they need you to send money for bail, lawyer fees or other damages. Often, the arrest or accident reportedly happened outside of the country.
Kidnapping/Ransom ScamSimilar to the bail bond scam, except that the family member has been kidnapped or held hostage after an accident or some type of property damage.
Sweepstakes/LotteryYou won a contest, sweepstakes or lottery and must send money up front to pay the taxes or to claim your prize.

Salem Five works hard to protect the security of your information with various measures such as complex passwords, multifactor authentication, text alerts, unusual activity review, and more.

Fraudsters have become increasingly adept at getting people to share the information they need to commit fraud by posing as a legitimate organization's call center agent, or by sending emails and text messages that look official.

Some best practices to avoid being scammed and help to protect your personal and financial information:

  • Don't respond: If you're not 100% certain of the source of the contact: hang up, never click on the link in the email, and don't reply to the text message.
  • Don't trust caller ID or answer phone calls from unknown numbers: If you recognize the caller ID but the call seems suspicious, hang up. Phone numbers can be easily spoofed to appear to be from a legitimate caller of an organization
  • Don't give out your information: Do not give out any personal ID information, unless you're absolutely certain the person and reason are legitimate. Salem Five will NEVER call, text, or email you asking for your online banking log-on credentials or your PIN or the 3-digit security code on the back of your card.
  • Do your Research: Validation is key! If the individual or organization seems suspicious, make sure the request being made is legitimate by calling the organization through an official number from their website.
  • Do not blindly believe online stories of severe life circumstances, tragedies, family deaths, injuries, other hardships geared at keeping your interest and concern.

We are here to help! If you believe you have been a target of a scam, contact us immediately at (800) 850-5000, or stop in to your nearest branch location.

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If you have questions or concerns about Identity Theft Prevention , please contact your local branch or contact Customer support at  (800) 850-5000 during normal banking hours.

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