Educate yourself and recognize the warning signs of a scam.
For all the conveniences technology provides, it also presents a wealth of opportunities for scammers. Centreville Bank will periodically share information on banking scams we’re seeing and hearing about so you can prepare and protect you and your finances.
Don’t Get Caught in A Scam!
- The Bait: Ads for a quick, easy loan.
- The Hook: They ask or your online banking credentials and deposit the money into your account. Easy Peasy!
- The Catch: When they deposit the money, it’s for too much! They’ll want you to just take out the extra amount, go to the store and get gift cards with the money. You’ll then send the gift card info back to the lender.
- The Scam: After you have purchased the gift cards and given that information to scammers, they will use them to buy products that they will then sell. In the meantime, the check they deposited will not end up going through and the “lender” disappears. You’re now out the money you used to buy the gift cards.
What to look for:
- A request for your online banking credentials. No one (not even a bank) will ask you for your username and password for your own online banking account. If someone asks, that should be a huge red flag.
- If there is a strong sense of urgency (they need that money back today) then it should seem suspicious.
- Lenders would not ask you to get the money out and buy gift cards with it. If someone is telling you to buy gift cards to manage money, stop immediately.
- If you’re requesting a loan you shouldn’t be receiving requests for you to provide money back to the lender except in a normal repayment cycle.
- Know that the offer may look legitimate (even having paperwork) and might be for a random dollar amount instead of an even number just to look more convincing.
What you should do:
- Wait until the check has cleared before pulling any funds from that amount. Keep in mind that many banks (including Centreville Bank) may allow you to access your funds before it has cleared as a courtesy for their customers. You can find out if the check has cleared by reaching out to the contact center or coming into a branch.
- If you have fallen victim to this or a related scam, contact your local police department and file a report
- If an offer on the internet seems too good to be true – unfortunately it probably is.
- These scams are designed to be compelling. Don’t feel bad if you’ve ever took a second look at an offer like this – just know that you’re only passing up on an opportunity to be taken advantage of!
- Don’t be bullied or forced to hurry into action. If someone is pushing you to do something quickly, they could be trying to get away with a scam before you realize what’s going on. No one legitimate should fault you for taking your time to learn the facts before money exchanges hands for any reason.
As a reminder, Centreville Bank will only request confirmation of sensitive information from a customer when the customer calls the bank directly. If you believe you have provided any sensitive information to a scammer, contact us immediately.