Fraud Alert: Scams are on the Rise. Here’s what to look out for.

June 22, 2018

Summer is here, but fraudsters aren’t on vacation. In fact, it appears they are working overtime. Stay safe by being aware of these common ruses and keeping your account information and login credentials private.

Here Are Common Scams:

Classifieds Scam – You are selling something online and the buyer wants to pay more than your asking price. The buyer sends you a counterfeit cashier’s check (it will look like the real thing), or starts a wire transfer that will never come through. All they ask for in return is that you wire or transfer some portion of the money to them or a third party. Like ships in the night, your money flows out and their money never comes in.

Romance Scam – Online relationships can feel real, but months later, that “special someone” won’t be able to cash their own checks, will need a large sum of money, or will ask for your username and password. Before you know it, your accounts will be drained and they will be in the wind.

Employment Scam – Fake mystery shop jobs or similar gigs will sometimes send you a big check to buy goods, write a review, and then return the goods to your “employer.” Meanwhile, that big check won’t clear and you end up with a negative balance.

Lottery Scam – If you didn’t enter a lottery, you certainly shouldn’t win one, and you should never need to pay or send funds to someone else to win money. The check or wire transfer the fraudsters send to you won’t clear and the money you send to them will be gone.

Above all, trust your gut instinct. If it sounds too good to be true, it probably is!

We Are Here to Help 

Have you encountered one of these scams recently? Are you unsure of the validity of a cashier's check? Call our Member Service Center at 831.479.6000, or toll-free at 888.4BAYFED, and a Member Service Representative will assist you.