Consumer Alerts

Consumer Alerts

Security Announcements Index

Helpful Links for Consumers

Helping protect our customers financial privacy is important to Natick Federal Savings Bank. Outside parties too often attempt to place consumers in situations where they can take advantage of them through identity theft, scams and online email.

You should remember that Natick Federal Savings Bank will never send unsolicited requests for personal information, whether by phone or email.

To help educate our customers and make you aware of how you can protect yourselves from identity theft, fraud and scams we are providing you with the following links to websites that can help.

April 2008 – DOJ Warns of Counterfeit Checks and Money Orders

The Department of Justice warned the public about the growing use of counterfeit checks and money orders. The advisory describes several scams that use the basic scenario; the fraudsters send counterfeit checks to potential victims and con them into depositing the checks in to their bank account and ask that part of the money be returned in cash or by wire transfer. By the time a victim learns from the bank that the check is bogus, it’s too late.

Counterfeit checks and money orders are found in an array of fraud schemes including:

  • Fraudulent sales schemes in which consumer are defrauded by fraudsters purporting to sell valuable items such as cards and boats
  • Fraudulent overpayment schemes in which the fraudster contacts persons selling or renting items or property, then overpays by check and requests that the amount of the overpayment be wired to him.
  • Internet fraud schemes in which the Internet is used to defraud consumers by purporting to purchase valuable items. Some of these fraudsters make use of personal information posted on employment and social networking websites by consumers.
  • Advance-fee schemes in which consumers are contacted by people who purport to require assistance moving money out a foreign country or to offer an inheritance or lottery winnings.
  • Telemarketing fraud schemes in which consumers receive a counterfeit check as supposed payment of a prize or lottery winnings.

For more information visit www.usdoj.gov/opa/public_advisory_counterfeit.pdf

February 2008 – IRS Warns of Increase in Tax Related Scams

The Internal Revenue Service recently warned taxpayers to beware of several current e-mail and telephone scams that use the IRS name as a lure. These include:

  • A rebate phone call. In this scam, consumers receive a phone call from a person identifying himself as an IRS employee. The caller tells the targeted victim that he or she is eligible for a sizable rebate for filing taxes early. The caller then asks for the victim’s bank account information for the direct deposit of the rebate.
  • A refund e-mail. Various e-mails supposedly from the IRS generally tell the recipient that he or she is eligible for a tax refund for a specific amount, and instructs the recipient to click on a link in the e-mail to access a refund-claim form. The form asks the recipient to enter personal information that the scamsters can then use to access the e-mail recipient’s bank or credit card account.
  • An audit e-mail. In another scam, the e-mail notifies the recipient that his or her tax return will be audited. It may contain a salutation in the body addressed to the specific recipient by name. This e-mail instructs the recipient to click on links to complete forms with personal and account information, which the scammers will use to commit identity theft.
  • Changes to tax law. This e-mail scam is addressed to businesses, accountants and treasury managers. It instructs them to download information on tax law changes by clicking on a series of links to publications on businesses, estate taxes, excise taxes, exempt organizations, IRAs and other retirement plans. Clicking on a link downloads malware onto the recipient’s computer.
  • A paper check phone call. In this telephone scam, a caller claims to be an IRS employee who is calling because the IRS sent a check to the individual being called. The caller says that because the check has not been cashed, the IRS wants to verify the individual’s bank account number.

Note: Anyone wishing to access the IRS Web site should initiate contact by typing the irs.gov address into their Internet address window, rather than clicking on a link in an e-mail or opening an attachment.

People who have received a questionable e-mail claiming to come from the IRS may forward it to a mailbox the IRS has established: phishing@irs.gov, using instructions contained in an article titled “How to Protect Yourself from Suspicious E-Mails or Phishing Schemes.”

IRS warnings can be accessed from the IRS Website at www.irs.gov and search for “scams”.

07/03/2007 – FDIC Requests Notification of Fraudulent Correspondence

The FDIC has reminded recipients of fraudulent correspondence claiming to be from the FDIC, whether by mail, fax, or e-mail, NOT, under any circumstances, to respond to the fraudulent requests for personal information including bank account numbers.

Anyone receiving such correspondence should contact the FDIC by calling the corporation’s toll-free telephone number at 1-877-ASK-FDIC (1-877-275-3342) or by e-mailing alert@fdic.gov. Do not use contact information listed for the FDIC in the correspondence itself because it is likely to be false.

Recent FDIC Special Alerts can be accessed from the FDIC’s Website at www.fdic.gov/consumers/consumer/alerts/index.html

To learn how to automatically receive FDIC Special Alerts through e-mail, please visit www.fdic.gov/about/subscriptions/index.hmtl.

05/04/2007 – FDIC Consumer Alert on Phishing

The Federal Deposit Insurance Corporation (FDIC) has reported that consumers have e-mails that have the appearance of being sent from the FDIC. There are several variations to the e-mails, all of which attempt to obtain personal, account number, and password information from consumers and businesses.

Some e-mails ask the recipient to respond with personal information in order to continue the insurance coverage of the funds deposited in their bank. Other e-mails include a link that takes the user to a spoofed FDIC Web page that uses text logos from FDICconnect Web pages and asks the user for personal information and “to certify” that they will provide correct information. Still other e-mails attempt to deliver malicious software on the recipient’s computer by requesting that bank customer install “a small client utility” on their home computers that is used to open Online Banking sessions.

Consumers are warned NOT to access the link, submit information, or respond to any unsolicited request for personal information.

The FDIC provides information on its Web site that explains more about phishing and other types of fraudulent activity targeting consumers at www.fdic.gov/consumers/consumer/alerts/index.html.

You can also learn how to automatically receive FDIC Special Alerts at www.fdic.gov/about/subscriptions/index.html.

04/27/2006 – Federal Trade Commission ID Theft Consumer Information

Identity theft is one of the fastest growing crimes and consumer risks. Please use the following link to help you obtain more information on what you should do to avoid risky situations, view common questions about ID Theft, and information on scams, laws, consumer protection programs and statistics.

The FTC ID Theft Web page is located at www.consumer.gov/idtheft

FDIC Consumer Education

January 26, 2006 – A new FDIC on-line tool was released to help educate consumers how to better protect their computers and themselves from identity theft, and steps to take if they have been victimized. The presentation: Don’t Be an On-Line Victim: How to Guard Against Internet Thieves and Electronic Scams is on the FDIC’s website.