Security Center

Recent Fraud Alerts

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    We have received customer reports concerning criminals fraudulently impersonating Salem Five to verify fake transactions in an attempt to gain account access. Scammers posing as Salem Five may text or call you from what appears to be our 800 #. Don't be fooled, Salem Five will NEVER call you to ask for your User ID, password or to verify security codes.


    icons representing fraud steps scammers try to fool you

    This is an increasingly prevalent type of fraud, called Caller ID spoofing. As a reminder:

    • Don't share your online banking user ID or password with anyone, even if they say they are calling from Salem Five.
    • Don't authorize instant payments such as Zelle to anyone you don't personally know.
    • 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.

     

If you have questions or have been a casualty of fraud, please call (800) 850-5000 or email at mail@salemfive.com.