Consumer Alerts

Consider this scenario You receive the following text message from your supervisor: “This is Mike, I am in an important meeting right now and need a favor. Would you mind running to a nearby store to grab 5 $100 gift cards for a retirement party tonight? I forgot to go earlier and don’t have time. Send me a photo of the claim code on the back to save time. Thanks.” It may seem like a simple request, but it is actually an impersonation scam. Fraudsters use a sense of trust and urgency to trick employees into sending funds via gift […]

It’s tax season and the Federal Trade Commission urges all consumers and businesses to keep an eye out for scammers impersonating the IRS. Scammers send out fake text messages and emails regarding tax rebates or benefits in an attempt to get you to click on a malicious link or attachment. While the messages may look legitimate, it is best to never click on links or attachments in unexpected texts. You could be opening yourself up to identity theft or malware. Remember, the IRS doesn’t initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information. […]

Fraud can happen to anyone at any time and you could be a scammer’s next target. Even if you think your identity and online accounts are safe and secure, it’s still important to take these steps to protect yourself: Review your credit at least annually. You are entitled to a complimentary copy of your credit from each agency annually and you can access request them online at www.annualcreditreport.com Review your account transactions and statements regularly. Using secure tools like online and telephone banking can help you pick up on suspicious activity faster and between statements. Contact your financial institution immediately […]

The FBI has announced an increase in scammers targeting individuals who have lost money to cryptocurrency fraud and scams with a false promise to help recover the funds. The scammers may reach out via social media or even create online ads posing as recovery services to attract those seeking ways to recover their lost funds. They will ask for fees to complete the recovery process and then cease all communications without delivering results. To add legitimacy to the scam, they may claim an affiliation with a law enforcement agency. The FBI offers the following tips:Be wary of advertisements for cryptocurrency […]

Local residents are receiving calls, emails and text messages from fraudsters posing as bank employees asking for online banking, account and debit card information or to verify fake charges. If you are contacted asking for information about your MVSB accounts, please do not respond and call us directly for assistance. Communications from fraudsters can be convincing and they may even “spoof” the caller ID to appear as though the call is from a local bank number. Be wary of communication you aren’t expecting and remember, we will not ask for sensitive information via phone, email or text unless you have […]

Businesses should be on the lookout for fraudulent invoice emails at the beginning of each month. In this common scheme, called “Invoice Fraud,” scammers take advantage of the fact that many businesses receive an influx of invoices around this time and try to trick employees into giving out information, sending funds or clicking on links. While invoice fraud isn’t new, it has become more effective as more and more companies opt to or are required to receive invoices electronically. Common invoice fraud scenarios include:Overdue payment to a fake business. Recipients are bullied into paying invoices due to their threatening nature. […]