Consumer Alerts

The MVSB Fraud Team has reported an increase in Facebook Marketplace scams involving money transfer apps. When selling items online, it’s important to be on the lookout for scams so you don’t fall victim. In the latest Marketplace scam, a fraudster pretends to be an interested buyer for an item and comes to an agreement with the seller to purchase the item. The buyer offers to send payment through a money transfer app and asks for the seller’s email and phone number to do so. The fraudster then sends a spoofed email impersonating the money transfer app stating that they […]

Smartphone users should be cautious when downloading apps, particularly through browser and social media, as there has been a reported rise in cyber criminals creating malicious apps in an attempt to install malware and steal personal information. These scammers may copy legitimate apps in an attempt to trick the user or create new ones disguised as a mobile game or tool. What is malware? According to the Federal Trade Commission, malware is one of the biggest threats to personal devices and includes viruses, spyware, and other unwanted software. Once installed through the malicious app, criminals can use it to steal […]

With ongoing global concerns about cybersecurity, including potential malicious cyber activity from Russia to the United States, our dedicated Information Technology and Fraud Teams have been working diligently to ensure our customer information and systems remain secure. We use multiple layers of protection and employ a team of analysts that review unusual activity on customer accounts, including debit card transactions, online banking, money wiring and more. “The protection of customer data continues to remain a top priority at MVSB,” said Jay Bisson, Vice President, Information Security Officer. “We have detailed and in-depth policies, procedures, technical measures and enhanced monitoring to […]

Have you booked travel with booking.com recently? Our Fraud Department is seeing an uptick in reports of fraudulent phishing emails from scammers posing as Booking.com representatives. The emails request personal information or claim that a refund is due for a recent purchase. In one reported scenario, a Booking.com customer described making a transaction from the booking site and shortly after received an email claiming to be from the company. In the email, it was stated that the customer was charged twice for a recent transaction and was instructed to call the phone number in the email to talk to a […]

The MVSB Fraud Team wants to alert to an increase in wire scams targeting local residents and consumers nationwide. In the schemes, fraudsters often use scare tactics to create a sense of fear and urgency. If you get a call from someone asking you to wire funds, it’s likely a scam and you should hang up. Common wire scam scenarios include, a call or notification that:You’ve been hired for a job that requires you send money to a client or supplier in advance of being paid. Your application has been accepted for apartment advertised online, but you must wire deposit […]

The Federal Bureau of Investigation (FBI) has reported a rise in cybercriminals tampering with both physical and digital Quick Response (QR) codes. To best protect your personal and financial information, it’s important to know how QR codes work and steps to avoid becoming a victim. What is a QR code? A QR code is a square barcode that users can scan with their smartphone camera that redirects them to a website, payment portal or application download. They are often used for contactless transactions or direct access to a web link without typing in the web address. You might find them […]

In time of crisis, like the invasion of Ukraine, many of us look to for ways to help those affected by donating money. Unfortunately, scammers often take advantage of emotions and newsworthy events and ramp up their efforts to by creating fake charities or other schemes. According to the Federal Trade Commission (FTC) website, if you are looking to support the crisis in Ukraine or other groups in need, it’s important to know the signs of a scam and how to protect yourself. Avoid scams and make sure your donation makes it to where it’s needed:Before you donate, take time […]

The Federal Bureau of Investigation (FBI) has reported a recent increase in Subscriber Identity Module (SIM) card scams. Often referred to as SIM swap scams, hackers gain entry to your cell phone account and switch your phone number to another SIM card, allowing them access to text messages, emails and other account information saved on the phone. It’s important to know the warning signs and steps to avoid becoming a victim. What is a SIM card? A SIM card is a memory chip inside a mobile device that stores data, including identifying information about the phone’s owner, contact list, text messages […]

According to the Federal Trade Commission, online romance scams are on the rise with $304 million being lost to scams in 2020 alone. If you are using online dating apps, websites or social media sites, it’s important to know how romance scams work so you can avoid being catfished and/or scammed. Millions of people across the country use online dating tools each year – and many of the profiles that appear are criminals using fake online identities. They use fake profile photo and life stories to form romantic attachments with unsuspecting victims and a variety of schemes to scam them […]

Our Fraud Specialists have identified an increase in text message (SMS) phishing attempts in the state. In this scheme, often referred to as “smishing,” scammers target personal cell phones with text messages in an effort to trick victims into clicking on malicious links or divulging personal information to gain access to your cell phone, email or financial accounts. While the idea of scammers sending out fraudulent messages is not a new idea, there has been a rise in smishing in recent years as texting or messaging has become a primary form of communication. It’s important to know the warning signs […]