Fraud and Scam Updates for May

Fraud-Blog

Review our most recent fraud alerts and updates to help keep your personal information secure. Want to be automatically updated about recent scams and fraud? Sign up for our Alerts emails here: http://bit.ly/1G1dF0n

Internal Revenue Service Scam

Some of our customers have fallen for a recent scam involving fraudsters posing as employees from the Internal Revenue Service (IRS). The fraudster will call you – stating to be an Internal Revenue Service employee – and claim you owe back taxes, which can be paid via wire transfer.

The truth is that the IRS does not use phone calls to make personal contacts. If the IRS wants to contact you, they will send a letter first. If you receive a phone call from an individual claiming to be from the IRS, it is a scam. For more information on how and when the IRS might contact you, see these two articles from the Federal Trade Commission:

Check Fraud

Merchants has recently seen an increase in fraudulent checks. Customers have fallen for some “too good to be true” scenarios including being asked to be a secret shopper for a fake business or receiving a winnings check in the mail from a drawing they did not enter. When you receive a check, make sure to consider where it came from.

Some questions to ask yourself:

  • Did I recently enter any contests or drawings where I could win money?
  • Can I verify the information on the check through a third-party? For example, can you confirm a person’s contact information through the phone book? Or confirm a business’s information through an online directory like the Yellow Pages?
  • Does it sound too good to be true?

Be a skeptic. If the situation doesn’t sound right, it’s time to do some more investigating before depositing that check. For more information, read this article on check fraud from the Federal Trade Commission.

Next Steps If You’ve Experienced Fraud

If you think your bank account information has been compromised or you are a victim of identity theft, contact your local Merchants Bank and ask to speak to a Customer Service Representative.