Mutual One Bank Content

Source: Federal Trade Commission: Consumer Information

Scammers are taking advantage of fears surrounding the Coronavirus. They’re setting up websites to sell bogus products and using fake emails, texts, and social media posts as a ruse to take your money and get your personal information.

The emails and posts may be promoting awareness and prevention tips, and fake information about cases in your neighborhood. They also may be asking you to donate to victims, offering advice on unproven treatments, or contain malicious email attachments.

Here are some tips to help you keep the scammers at bay:

• Don’t click on links from sources you don’t know. It could download a virus onto your computer or device. Make sure the anti-malware and anti-virus software on your computer is up to date.
• Watch for emails claiming to be from the Centers for Disease Control and Prevention (CDC) or experts saying that have information about the virus. For the most up-to-date information about the Coronavirus, visit the Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO).
• Ignore online offers for vaccinations. If you see ads touting prevention, treatment, or cure claims for the Coronavirus, ask yourself: if there’s been a medical breakthrough, would you be hearing about it for the first time through an ad or sales pitch?
• Do your homework when it comes to donations, whether through charities or crowdfunding sites. Don’t let anyone rush you into making a donation. If someone wants donations in cash, by gift card, or by wiring money, don’t do it.
• Be alert to “investment opportunities.” The U.S. Securities and Exchange Commission (SEC) is warning people about online promotions, including on social media, claiming that the products or services of publicly-traded companies can prevent, detect, or cure coronavirus and that the stock of these companies will dramatically increase in value as a result.

Want more information on the latest scams we’re seeing? Sign up for our consumer alerts. If you come across any suspicious claims, report them to the FTC at ftc.gov/complaint.

Recently the Bank has received reports of a check fraud scheme where thieves target local mailboxes in order to obtain envelopes containing checks. The thieves then alter the amount and the recipient of the checks and deposit them into different bank accounts.

The classic blue mailboxes with the pull-down handle have been the main target of these crimes. The Bank has received reports of instances in downtown Natick, along with Needham and Roslindale and the Wellesley police have received numerous reports.

The scam is conducted by using a wire attached to a sticky mouse trap or an object covered in glue. The thieves use solvents such as brake fluid, acetone, or bleach to wash the original writing off the check. Then, they alter the dollar amount and update the payee – usually a middleman (known as a “mule”) who has been promised a cut of the check. When the mule deposits the check, the person who wrote the check can be out hundreds, if not thousands of dollars more than the original amount they intended to pay.

The United States Postal Service has upgraded some of the local boxes to ones with a slender mail slot in an attempt to eliminate the ability to fit the “fishing” device into the box.

The safest way to mail a check is to give the envelope directly to your mail carrier or drop it off inside the post office. It is best to never send cash through the mail. Instead, use a check, money order, or ask for a secure check which is more challenging to alter. When writing a check, use gel ink which is harder to erase and avoid leaving blank spaces on your check. As an alternative to writing and mailing checks, customers can setup Bill Pay through Online Banking.

If you suspect that one of your checks has been intercepted, contact us immediately at (508) 820-4000.

Source: Federal Trade Commission: Consumer Information
Tax Identity Theft Awareness Week is coming

‘Tis the season when the tidings come in envelopes stamped “Important Tax Return Document Enclosed.” Yes, it’s tax filing season, and the season’s Grinches are the tax identity thieves and government imposters who are hoping to steal your money. 

Find out how to stop them during Tax Identity Theft Awareness Week, February 3-7. The FTC and its partners will co-host free webinars and other events. They’ll all have information about avoiding tax identity theft, recognizing government imposters, and recovering from fraud. Some also will highlight special resources for active duty service members, older adults, and small businesses. Find an event here.

Tax identity theft happens when someone uses your Social Security number (SSN) to file a phony tax return and collect your refund. You may not find out about it until you try to file your tax return and the IRS rejects it as a duplicate filing. While the IRS investigates, your tax refund can be delayed. The misuse of your SSN means you also may be at risk of other types of identity theft.

To get tips on how to protect yourself, and to find an event to join in the coming weeks, please visit the Tax Identity Theft Awareness Week page. We hope to talk with you soon.

Source: Federal Trade Commission: Consumer Information

The Social Security Administration (SSA) scam is the number one scam reported to the FTC right now.

As soon as a caller threatens you, or demands you pay them with a gift card or by wiring money, it’s a scam. Even if the caller ID tells you otherwise.

If you get a call from someone claiming to be from the Social Security Administration, hang up the phone and remember:

• Your Social Security number is not about to be suspended.
• The real Social Security Administration will never call to threaten your benefits.
• The real SSA will never tell you to wire money, send cash, or put money on a gift card.

Watch this video to see how scammers use threats and high-pressure tactics to try to con you. Learning about scams makes them much easier to avoid.  If you’ve received a call like this, tell your friends, family and neighbors about it. Tell them to hang up the phone and to report it to the Federal Trade Commission.

Source: Federal Trade Commission: Consumer Information
Holidays often mean time with family and friends. If you’re looking for conversation starters that avoid tricky topics – like who should’ve won the World Series – why not chat about scams? Pass it On, an FTC education campaign, gives you new ways to talk about scams and how to prevent them.

Sharing what you know can protect someone who you know from a scam. That’s why the FTC created Pass it On – articles, presentations, bookmarks, activities and videos – to get you talking about scams. Now, Pass it On has an updated website with four new topics. Here’s a glimpse:

Maybe your retired aunt is looking for ways to make extra money and saw ads promising big money working at home – for a fee. Remind her to check out the company first and share this advice about work-at-home scams: don’t pay money to earn money.

Commiserating about leaky roofs, old windows, or repairing a home after storm damage? Be sure to discuss home repairs scams. Before starting repairs, get three written estimates and proof of license and insurance.

If you want folks to kvetch about something other than why kids don’t eat their vegetables, bring up unwanted calls. We all get them and many are from scammers. Remind people to just hang up and don’t trust caller ID. It can be faked. Ask your carrier about call blocking – or consider buying a call blocking device as a holiday gift.

Or maybe you prefer a little friendly competition? Quiz your friends and family about what a money mule is. Not sure yourself? The short answer is: when someone sends you money and asks you to send it on to someone else, you could be what law enforcement calls a money mule. Don’t do it. You could lose money and get into legal trouble.

This year, when you pass the turkey, pass on your knowledge about scams. And if you know someone who’s alone this holiday season, reach out to them too. You’ll probably brighten their day and may even help prevent a scam.

Source: Federal Trade Commission: Consumer Information
Today is the start of International Charity Fraud Awareness Week (ICFAW), a coordinated international effort to help charities and donors avoid charity fraud. The FTC joins state charities regulators across the country, the National Association of State Charities Officials (NASCO), and international partners in this campaign. By joining forces, we can reach more people and more charities with information and advice. Money lost to bogus charities and scammers means less donations to help those in need. And no one wants that, either here or abroad.

The FTC’s education and outreach efforts in this area are in full force all year, but ICFAW is another opportunity to remind people how to spot scammers’ tricks and avoid donating to sham charities. There are tips at FTC.gov/Charity to help you, including how to research charities and check out their ratings with groups like the Wise Giving Alliance, Charity Navigator, Charity Watch, and Guide Star.

This year, in addition to giving donor tips, we’re alerting charities about how to prevent cyber threats that can compromise their networks and computers. The tools at FTC.gov/Cybersecurity (fact-sheets, quizzes and videos) on topics like ransomware, phishing, business email imposters, hiring a web host, and more will help organizations make sure that they’re protecting their data and donors’ information.
Don’t know where to start? Start with the basics:
•    Set up software to update automatically
•    Secure your files by making a back-up offline
•    Require passwords for all devices
•    Use multi-factor authentication (like a PIN or key)
•    Encrypt devices

Go to FTC.gov/Cybersecurity for more. All the information is also available in Spanish at FTC.gov/Ciberseguridad.