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Feb 20, 2024 · Identify a fake check scam: Make sure the check is real by feeling the edges for one rough edge and looking for errors like misspelled words, security details, and missing components. Avoid a fake check scam: Request another form of payment or contact the person’s bank if there are issues with the check. To verify a check’s legitimacy ...
- Overpayment Scams
- Check-Cashing Scams
- Unsolicited Check Fraud
- Automatic Withdrawal Scams
- Phishing Scams
- Government Imposter Scams
- Charity Scams
- Employment Scams
- How to Protect Yourself (and Your Accounts) from Bank Scams
If you provide services or sell products online, you could fall victim to an overpayment scam. Overpayment scams typically begin with someone sending you a counterfeit check or money order for more than the amount owed. Then, they ask you to deposit the money in the bank and wire the difference back to you. Unfortunately, since the check was fake, ...
Another scam involving checks is the check-cashing scam. This scam preys on the compassion and generosity of other people. An individual approaches you outside of a bank or other financial institution asking if you will cash a check for them. They may mention that they don’t have an account at this particular bank but need the money. You can deposi...
Have you ever received a check in the mail that you weren’t expecting? It could look like a rebate check or a refund for overpayment. Inspect the check thoroughly, paying close attention to any fine print on the front or back. There’s a chance that you are entering into a legally binding contract by signing the check and cashing it. Scammers use ta...
Automatic withdrawals are a great way to automate your savings, pay bills and more. Scammers like automatic withdrawals too, but for other reasons. The way this scam works is that individuals receive a phone call or postcard indicating that they’ve won a prize or qualified for a special offer. The goal is to get you to read off the numbers at the b...
With phishing, scammers use texts and emails to trick individuals into giving up personal information. The information they want includes passwords, Social Security numbers, account numbers and more. Their goal is to access your personal accounts, such as email accounts and bank and other financial accounts. Phishing scams are popular because of th...
Another common bank scam is when someone pretends to be a government official. You receive a phone call from the imposter claiming you’ve won a prize that requires payment of taxes or fees so they can process it. The scammer may threaten to send you to prison if you don’t pay a supposed outstanding debt. The reality is that you will never receive a...
Scammers also like to take advantage of people’s kindness by impersonating charities. They call people asking for donations to a charity or cause. Some scammers go so far as disguising the phone number, so it shows up as a local area code on your caller ID. You can sometimes spot charity scams by the vague claims they make and the lack of tangible ...
Employment scams are another common way scammers try to gain access to people’s financial accounts. The scammer promises guaranteed work in exchange for an up-front fee. They may also ask for bank account information so they can transfer commission payments to you. This is all a front to get your bank account information, though. Job scams often co...
Scams will likely be around for as long as people continue to fall for them. You can protect yourself and your bank accountby following the tips below. Don’t cash checks for other people.You may want to help other people, but never cash a check in exchange for cash unless you know the person well. Do your homework.Read and inspect everything. Wheth...
If you've been the victim of a scam: Report it: If you or a family member has fallen victim to a scam, report it to your local police, as well as the Canadian Anti-Fraud Centre. Talk about it: If you've fallen victim to a scam, share your story. The more people who know about these scams, the harder it may be for fraudsters to take advantage.
Sep 26, 2024 · Through bank impersonation scams, fraudsters try to trick you into disclosing passwords, verification codes, PINs and account information. Learn the warning signs and how to protect yourself against these common scams. How a bank impersonation scam starts. A bank impersonation scam may start with a phone call, text or email from what looks to ...
- Automatic debit scams. An automatic debit scam occurs when a scammer gets your checking account information (including the bank’s routing number and your account number) and takes money out of your account.
- Fake contest or job scams. Another kind of scam is a fake contest where a scammer contacts you and says that you’ve won something and you need to send a payment for shipping or processing of the nonexistent prize.
- Overpayment or fake check scams. In an overpayment scam, someone who’s buying something from you will send a fake check for an amount that’s more than what it should be.
Use the scam identifier tool Use the scam identifier tool Bank Inspector and Investigator Scam These scams usually take place over the phone where scammers pose as bank representatives or police officers to trick you into giving them money for a supposed criminal investigation.
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How can you tell it’s a scam? Often by what they ask you to do. TD Bank will never ask you to: Give personal or account information by phone. Let us remotely access your computer. Move money out of your account and into someone else’s account or “keep a secret”, as part of an investigation. Buy gift cards. If you’re asked to do any of ...
