Fraud & Scams
Did You Know...
You are personally responsible for the checks and money orders you deposit, not the financial institution. This is because you are in the best position to determine how risky the transaction is since you are dealing directly with the person issuing the payment.
Don’t Get Ripped Off!
If you can answer “yes” to any of the following questions, you could be involved in a fraud or about to be scammed!
- Is the CHECK from an item you sold on the Internet, such as a car, boat, jewelry, etc?
- Is the amount of the CHECK more than the item’s selling price?
- Did you receive the CHECK via an overnight delivery service?
- Is the CHECK connected to communicating with someone by email?
- Are you receiving PAY or a COMMISSION for facilitating money transfers through your account?
- Have you been asked to PAY money to receive a deposit from another country such as Canada, England, or Nigeria?
- Have you been instructed to “WIRE”, “SEND”, OR “SHIP” MONEY, as soon as possible, to a large U.S. city or to another country, such as Canada, England, or Nigeria?
- Have you been informed that you were the winner of a LOTTERY, such as Canadian, Australian, El Gordo, or El Mundo, which you did not enter?
- Is the CHECK drawn on a business or individual account that is different from the person buying your item or product?
- Did you respond to an email requesting you to CONFIRM, UPDATE, OR PROVIDE your account information?
If you suspect fraudulent activity -please contact us immediately!
Types of Account Fraud include Checking, Credit Card, ATM, Identity Theft & Electronic
Account fraud is one of the fastest growing crimes in the nation. McCoy Federal has safeguards to help prevent and detect account fraud, but it is YOUR knowledge, awareness and alertness that are the most important first lines of defense in preventing fraud.
Common Fraud Scams
- - Telemarketing Fraud
- - Nigerian Letter or “419” Fraud
- - Identity Theft
- - Advance Fee Schemes
- - Health Care Fraud/Health Insurance Fraud
- - Redemption/Strawman/Bond Fraud
- Letter of Credit Fraud
- Prime Bank Note Fraud
- Ponzi Schemes
- Pyramid Schemes
- Internet Auction Fraud
- Non-Delivery of Merchandise
- Credit Card Fraud
- Investment Fraud
- Business Fraud
- Nigerian Letter or "419" Fraud
Fraud Target: Senior Citizens
- Health Care Fraud/Health Insurance Fraud
- Counterfeit Prescription Drugs
- Funeral and Cemetery Fraud
- Fraudulent "Anti-Aging" Products
- Telemarketing Fraud
- Internet Fraud
- Investment Schemes
- Reverse Mortgage Scams
Minimize Your Risks to Prevent Fraud
- Protect your account & personal information - never respond to unsolicited requests for this information, whether it’s over the phone, through the mail or via the Internet.
- Online, only provide your credit card number on a secure web page, which is identified by the small lock icon (& is locked) displayed in the lower right corner of the browser.
- Use a single credit card, with low credit limit, for Internet purchases.
- Do Not Send credit card information via e-mail or instant messenger - neither is secure.
- Do Not Have confidential information preprinted on your checks.
- Report any lost or stolen credit cards or checks to the issuing institution immediately.
- Shred any documents containing confidential information, including unused checks (even if the account was closed), ATM receipts and old credit card receipts, before disposal.
- Review all account and credit card statements once they are received to determine that no account irregularities are apparent.
- Notify your credit union if newly ordered checks or your regular statements do not arrive in a timely manner. A missing statement may mean someone has changed your billing address to prevent you from seeing fraudulent transactions.
- Deposit outgoing mail directly into post office boxes, not in your own mailbox. If you are going on vacation, place a delivery hold on your mail.
- Carry a minimum number of ID and credit cards. Do not carry your social security card, PIN numbers or passwords in your wallet or purse and make copies of all items that you do carry.
- Cancel and destroy any credit cards that you don’t need or use. View your credit report at least once a year.
For more information visit the FBI Fraud Center.