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  • Geebo 9:00 am on March 11, 2022 Permalink | Reply
    Tags: bank scam, identity protection PIN, , , , , , ,   

    Scam Round Up: Protect yourself from tax scammers and more 

    By Greg Collier

    This week on the Scam Round Up, we’re bringing our readers a great tip, a new scam, and a reminder of an old scam.

    ***

    One of the more prevalent tax related scams over the past few years has been scammers filing a tax return in your name, so they can claim your refund check. Previously, we’ve recommended filing your tax return as early as possible to beat the scammers, but that isn’t always possible. However, there is another way to prevent fraudulent returns being filed in your name. The IRS has an option where you can get an identity protection PIN. This is a six-digit number that only you and the IRS know. If this number is not included on your tax return, it will not be processed by the IRS. If you’d like to know more about the identity protection PIN or apply for one, you can find more information at the IRS website.

    ***

    A Sheriff’s Office in North Carolina has recently uncovered a scam that could be affecting people nationwide. According to the Buncombe County Sheriff’s Office, scammers are stealing money from bank accounts where the account holder may not notice the missing money. They give estate accounts as an example. The scammers will then send a check to an unsuspecting victim asking them to deposit the check, keep a portion of it, and wire the rest overseas. The Sheriff’s Office found a man who was just getting ready to wire close to $200,000 overseas. If you have an account like an estate account, you may want to check on it periodically to make sure there are no fraudulent transactions. Also, no matter how good the promise of money may be, never deposit a check from a stranger then wire the money somewhere else. Not only could this be a fraudulent check, but you could also potentially get in legal trouble for helping to facilitate the scam.

    ***

    Lastly for today, the Border Patrol scam is making headlines again. This is where scammers will pose as agents of U.S. Customs and Border Protection. Victims will receive a phone call that says Border Agents intercepted a box full of drugs and money that was supposedly being shipped to the victim. Other times, the scammers will say that a car rented in the victim’s name was found with drugs in it near the Southern Border. In either case, the scammers will threaten the victim with arrest if they don’t pay a fine. As with most modern scams, the scammers will ask for payment in non-traditional means like cryptocurrency or gift cards. Always keep in mind, no law enforcement agency will ever ask for money over the phone or threaten someone with arrest over the phone.

    ***

    We hope you found this post informative, as nobody should ever have to endure the damaging schemes of scammers.

     

  • Geebo 9:00 am on February 21, 2022 Permalink | Reply
    Tags: bank scam, , , , , ,   

    Even sending money to yourself through Zelle is a scam 

    By Greg Collier

    Before we get started with today’s blog post, we wanted to share this article from The Guardian about why we shouldn’t blame the victims of scams. Please keep in mind that anyone could fall for a scam, and it doesn’t help to mock those that do.

    In today’s post, we’re going to discuss a scam that we’ve been focusing on a lot lately. Once again, the Zelle scam has turned up in the headlines again. For those who may not know, Zelle is a payment app that is co-owned by a number of high-profile banks. Since at least Fall of last year, scammers have been using Zelle in a customer service impersonation scam to get their victims to empty their bank accounts.

    The way the scam works is the scammer will send you a text message that appears to come from your bank. The text message asks if you recently made a large purchase or transfer. You’re asked to reply YES or NO to the text message. If you reply to the text message, you’ll receive a call from the scammer posing as your bank’s fraud department. The scammer will tell you that to protect your money, it needs to be moved through Zelle. What the scammer is really doing is walking you through the directions on how to move your money from your account to the scammer’s account.

    Recently, another level to this scam has been added. A number of Wells Fargo customers have reported falling for the Zelle scam. However, in the latest instances, the scammers had their victims open Zelle accounts in the victims’ names before transferring the money. This lends an appearance of legitimacy to the scam, since the account is in the customer’s name. Unfortunately, that doesn’t stop the scammers from taking the money sent to the new Zelle account.

    Since Zelle is co-owned by some of the nation’s leading banks, many consumers think that there is some form of protection against scams, but that is not the case. Victims of the Zelle scam rarely ever recover their money.

    There are a few ways to protect yourself from this scam. The first is to not respond to text messages that appear to come from your bank. If there is an issue with your account, you’re always better off calling the customer service number on the back of your debit card. You can also visit your bank’s local branch during business hours. The best way to protect yourself is to keep in mind that payment apps like Zelle, Venmo, and Cash App, are only supposed to be used with people you know. If someone says you need to use one of these apps to protect your money, they’re more than likely trying to rip you off.

     

  • Geebo 9:00 am on February 17, 2022 Permalink | Reply
    Tags: bank scam, , , , ,   

    Keeping secrets for scammers 

    Keeping secrets for scammers

    By Greg Collier

    A man from Indiana recently fell victim to a tech support scam. A pop-up appeared on his computer that said his computer had been compromised, and he needed to call Microsoft at the attached phone number. However, the phone number didn’t actually go to Microsoft. Instead, it went to a call center run by scammers posing as Microsoft technicians. They told the man his computer had been hacked. The disturbing part was that the scammers knew what bank the man used and the last four digits of his bank account. The scammers used this knowledge to convince the man that his bank account was in danger, and he needed to move his money to protect it. The man was instructed to go to his bank and wire transfer his money to a bank account set up by the scammers. In total, the man lost $79,000 to the scammers.

    To get around any suspicions the bank may have had regarding the large transfer of funds, the scammers instructed the man to tell the bank that he was starting a business with his daughter in Thailand. As more people become aware of scams, scammers will come up with lies for their victims to try to avoid detection. We have seen this ploy used in several different scams. Sometimes it’s the phony grandchild telling a grandparent not to tell the rest of the family they need bail money. Other times it can be a fake police officer threatening a victim with arrest and giving victims the lie to tell a store employee if they get suspicious about why the victim is buying so many gift cards. Often, banks, stores, and money transfer companies are aware of many of these scams and will ask probing questions to try to rescue victims from a scam. Anytime you need to make an emergency financial transaction and someone asks you to keep quiet about it, the odds are you’re being scammed.

    As far as tech support scams go, virtually no legitimate company will tell you to call them through a pop-up window. Companies like Microsoft, Apple, Google, and Facebook tend to discourage end users from trying to call them. Also, you should never call any phone number that appears on a pop-up window, as it’s almost guaranteed to lead you to a scammer. If you really feel the need to try to call the company mentioned, don’t just use the first phone number that comes up in a web search, as they can be scam numbers as well. Only use phone numbers you get directly from the source, such as a company’s official website. Lastly, you should never let anyone you don’t know to have remote access to your device.

     

  • Geebo 9:00 am on February 4, 2022 Permalink | Reply
    Tags: bank scam, , , , , ,   

    Zelle scam shows no signs of stopping 

    Zelle scam shows no signs of stopping

    By Greg Collier

    It’s been a few weeks since we last talked about the ongoing scams taking place through the Zelle banking app. If this is the first you’re hearing about it, these scams have been going on since at least this past fall. It starts when you get a text message that appears to come from your bank. The text message asks if you’ve recently made a large purchase or payment. You’re then asked to reply either yes or no to the text message. When you reply to the text message, your reply will be followed up with a phone call from scammers posing as your bank’s fraud department. The scammers will walk you through a process on the Zelle app that the scammers say will protect your account from any fraudulent activity. What’s really going on is the scammers are instructing you on how to put your money in the scammer’s account.

    The city of Charlotte, North Carolina, recently saw a dramatic increase in this scam. At least eight victims contacted the local ABC News affiliate saying they had been scammed through Zelle. Now, that may not seem like a lot of people being scammed, but you have to keep a couple of things in mind. The first is that not everyone who is scammed comes forward. Many people are too embarrassed to come forward after being scammed. This is why no one should ever be criticized for falling for one of these scams. The other thing is, scammers only need to find a handful of victims to make the scam profitable.

    For example, one of the victims who came forward in Charlotte said they lost $3500 to the scammers. Let’s just say that each of the victims lost a comparable amount. That’s $28,000 that a scammer potentially made in two weeks.

    If you receive a text message from your bank asking about a transaction, do not reply to it. Instead, call your bank’s customer service number on the back of your debit card or on the bank’s website. If you’ve lost money to this scam, it’s recommended that you file a police report right away before contacting your bank. This is not a guarantee you’ll get your money back, but in some instances it has helped. Lastly, if you use Zelle, think about opening a separate account with your bank that only has a small amount in it for Zelle transactions. That way if a scammer does get access to your Zelle the loss will be at a minimum.

     

  • Geebo 9:00 am on January 25, 2022 Permalink | Reply
    Tags: bank scam, , , ,   

    Check washing scam hits Conn. town hard 

    Check washing scam hits Conn. town hard

    By Greg Collier

    Police in West Hartford, Connecticut, have been receiving an inordinate number of complaints from residents who had checks stolen from mailboxes. Thieves will steal mail from both residential and public mailboxes in hopes they’ll find a handwritten check. Once they find a check, the thieves will attempt to remove the ink in a process called check washing. The checks will be bathed in a chemical solution that removes the handwritten ink while leaving the rest of the check intact. This allows them to rewrite the check in any amount. As long as there are sufficient funds in the account, the check can be cashed.

    The West Hartford Police are saying that the thieves use a custom-made tool that allows them to steal mail from most mail collection boxes. They also say that the thieves have been taking outgoing mail from residential mailboxes as well. Banks will reimburse customers if their checks are stolen, but that won’t stop the inconvenience of a payment not reaching its intended recipient.

    The best way to protect yourself against check washing is switching to all electronic payments. However, in some cases, only a check can be used. In those cases, when mailing a check, make sure to drop it off inside the post office during business hours. Leaving it in a mail collection box overnight could leave you vulnerable to mail theft. There are also special pens you can buy that are resistant to check washing. Lastly, as a good rule of thumb, you should never leave outgoing mail containing a check in your home mailbox. More mail is stolen from home mailboxes than USPS mailboxes.

    While this most recent story of check washing comes from Connecticut, check washing is a problem that’s been affecting consumers nationwide.

     

  • Geebo 9:00 am on January 12, 2022 Permalink | Reply
    Tags: bank scam, , ,   

    New twist on banking text scam 

    By Greg Collier

    Since this past October, we’ve been warning our readers about the Zelle scam. This is when scammers pose as your bank’s customer service department and try to tell you that there’s been fraudulent activity on your bank account. The scammers will then instruct you to move your money through the payment app Zelle to protect your money from bad actors. What they’re really doing is directing you to move your money from your bank account to the scammer’s account.

    The Zelle scam starts when the victim receives a text message asking them if they recently made a substantial payment or purchase. The text asks you if you made this transaction and asks you to text back a response of yes or no. If you respond to the text either way, the scammers will call you, posing as your bank. Now, a new banking text scam has appeared that shares aspects of the Zelle scam but doesn’t use Zelle.

    In Pennsylvania, bank customers there have received texts informing them that a new payee has been added to their account. That is supposed to mean that someone has been added to the account who can withdraw money. The link contains a text to click on if you did not add this payee to your account. The report doesn’t state where the link takes you, but usually in these scams, they either take you to a fake banking site that tries to steal your information, or a site that will inject malware or spyware on to your device.

    If you ever receive a text that appears to come from your bank about fraudulent activity, do not respond to it, and don’t click any attached links. Instead, call the customer service number on the back of your debit card, or drop by your local branch during business hours.

     

  • Geebo 9:00 am on January 3, 2022 Permalink | Reply
    Tags: bank scam, , , ,   

    Victim loses $25K in Zelle scam 

    By Greg Collier

    It’s been a few weeks since we last talked about the Zelle scam. Unfortunately, that doesn’t mean the scam has stopped. For those who may need a reminder, scammers are posing as bank customer service departments. They’ll text you asking if you’ve made a large purchase or withdraw recently. If you text them back, you’ll receive a call from the scammers. They’ll then instruct you that you need to move your money through the payment app Zelle to protect your account. What you’re actually doing is taking money out of your own account and sending it straight to the scammers. This scam has been an ongoing problem since at least this past fall.

    Recently, in Texas, a victim is said to have lost $25,000 to scammers through the Zelle app. Her story is much like the others. Except, instead of a text, she had a voicemail that was claiming to be from Chase Bank asking her if she had recently made a $5000 payment. She called the number back and the scammer told her that there had been fraudulent activity on her account and that she needed to use Zelle to reverse the fraudulent payment. Usually, that’s when the scammers disappear, but in this victim’s case they kept the scam going. They called her back in successive days, telling her the fraudulent activity happened again and that she needed to reverse the payment though Zelle again. This happened a total of five times for a total of $25,000 before she realized she had been scammed.

    In many of these cases, the banks try to wash their hands of the matter by saying that they’re not responsible for money lost through the Zelle scam. Some victims have gotten their money back but only after getting their local news media involved.

    If you receive a text asking you about fraudulent activity on your bank account, do not respond to it. Instead, call the customer service number listed on your debit card or bank statement. You can also visit your bank’s local branch, and they should also be able to assist you.

    If you end up being a victim of this scam, do not hesitate to take action. Notify your local police and bank immediately. This isn’t a guarantee that you’ll get your money back, but it goes a long way in helping. The longer you wait, the less of an opportunity there will be to reclaim your loss.

     

  • Geebo 9:01 am on December 10, 2021 Permalink | Reply
    Tags: bank scam, , , ,   

    Will Zelle replace gift cards in online scams? 

    By Greg Collier

    Just yesterday, we were talking about gift cards and how they’ve been the payment avenue of choice for most scammers. Well, if current trends continue, the mobile payment app Zelle may start catching up to gift cards. By now, you’re probably familiar with the bank impersonation scam that uses Zelle. This is when a victim receives phony texts and phone calls that say the victim has fraudulent activity in their bank account. The scammers direct the victim to use Zelle to protect their account when, in reality, the scammers are directing victims to send all their money to the scammers through Zelle.

    Now, it seems that scammers are starting to use Zelle as they used to use gift cards. For example, a woman from Baltimore was trying to buy a puppy online. Unfortunately, she fell for the puppy scam. The puppy didn’t actually exist, and the scammers kept asking for more money for such things as special delivery crates and customs fees. You can read more on how to avoid puppy scams here. Anyway, the point being that the victim made all the payments through Zelle to her scammers. Historically, scammers like this would ask for payment in gift cards by making the victim read the numbers from the back of the gift card. As we’ve mentioned before, Zelle has a reputation for not offering many protections when it comes to getting scammed.

    Previously, it seems that banks only issue refunds to scam victims after the victims get their local media involved. However, there is another way where you can possibly get your money back if you’ve been scammed over Zelle. According to a consumer protection news report out of New York City, you’ll have the best chance of getting a refund from your bank if you file a police report, and report the scam to the bank within 60 days. Now, this is no guarantee you’ll receive a refund since many banks tell their customers that when using Zellee, the customer is responsible for all transactions including scams.

     

  • Geebo 9:00 am on December 6, 2021 Permalink | Reply
    Tags: , bank scam, DVD in the mail, , , , ,   

    Scam Round Up: Don’t put that disc in your computer 

    Scam Round Up: Don't put that disc in your computer

    By Greg Collier

    Once again, it’s time top bring our readers another trio of scams that deserve their attention.

    ***

    Our first scam is kind of a bizarre one. Residents of a town in Maine have reported receiving something strange in the mail. They’ve been receiving handwritten envelopes, addressed only to ‘A friend’. The envelope contains a DVD that has “Please watch, copy, and share with friends” written on it, with no indication of what may actually be on the DVD. More than likely, the DVD contains malware or ransomware. What’s strange about this story is most modern computers don’t even have optical drives installed in them anymore. This scam may have been targeting elderly residents who may have older computers that still have their optical drives. A more modern take on this scam is when scammers will leave USB drives lying around out in public, just hoping that someone will actually plug the drive into their computer.

    ***

    Our next scam is one that you’re probably more familiar with. Residents of New York have reported that they’ve received letters in the mail telling them that they’ve won an $880,000 sweepstakes. The letter even includes a check for $8000. However, you have to pay a $7000 fee to ‘release’ your winnings. This is illegal and known as the advance fee scam. Some victims may think they’ll just deposit the check and use the money to claim their supposed winnings. As you’ve probably surmised, the checks are fake, which would leave the victim paying back the amount of the check to their bank while the scammers make off with $7000. Not that we like to compliment scammers, but this is a pretty clever way of combining two known scams into one to further lure their victims into their trap.

    ***

    Lastly, this is just a warning to people who use mobile banking apps that Zelle scams are still finding victims and draining their bank accounts of thousands of dollars. A woman in Portland recently fell for the scam and lost $23,000. If you receive a text message that is supposedly from your bank asking if you’ve made a large purchase or transaction, do not reply. If you do, you’ll get a call from a scammer posing as your bank and will use the Zelle app to drain your account under the guise of protecting your money. Zelle should only be used when giving or paying money to someone you know personally. If you get a text like the one mentioned, call your bank directly instead, or stop by your local branch.

    ***

    Again, these scams may not be in your area right now, but they could be soon. Hopefully, you now have the knowledge to combat them.

    https://youtu.be/Arc6JPR50xk
     

  • Geebo 9:00 am on November 30, 2021 Permalink | Reply
    Tags: bank scam, , ,   

    Are banks too zealous for Zelle? 

    By Greg Collier

    If you haven’t heard of Zelle by now, it’s a mobile payment app designed to compete with the likes of Venmo and Cash App. The company behind Zelle is owned by a number of the major banks in America including Bank of America, Chase, and Wells Fargo just to name a few. Many, if not all, of these banks include Zelle with their mobile payment apps whether the customer wants Zelle or not. Since many mobile banking customers are even aware of Zelle on their banking accounts, scammers have been able to use Zelle to empty the bank accounts of their victims.

    For the past few months, scammers have been sending text messages to their victims posing as the victim’s bank. The text message asks the victim if they recently made a large purchase and asks the victim to text back yes or no. When the victim texts back, they’re immediately called by a scammer posing as a bank employee. The scammer tells the victim that the victim’s bank account has been compromised and that the victim needs to move money through Zelle in order to ‘protect’ their account. In actuality, the scammers are moving the money from the victim’s account to the scammer’s account. This scenario most recently happened to a new mother and teacher in Atlanta where her Wells Fargo account was drained of $3500. Since Zelle doesn’t offer many customer protections, victim’s have been hit or miss when it comes to getting their money back from their bank.

    A huge problem with the recent Zelle scams is the fact that the banks are attaching Zelle to their mobile payment apps without a lot of customer education on how Zelle works. It also doesn’t help that if a customer wanted to opt out of Zelle, they can’t just check a box that deactivates their Zelle account. Instead, you have to call your bank’s customer service department to deactivate your Zelle account.

    Should banks be doing more to warn their customers about these scams? Is a small warning on the Zelle app about scams enough? What can the banks do to better educate their customers? Please let us know in the comments below.

     

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