IMPORTANT:

COVID-19 UPDATE: BRANCH OPERATIONS

All of our locations are operating under normal business hours with limited access to the branch to maintain required social distancing protocols. We appreciate your understanding!

 

PROTECTING YOURSELF FROM FINANCIAL SCAMS

The Pennsylvania Department of Banking & Securities has published Tips to Avoid Coronavirus Scams for Consumers. Please review the information provided in its entirety and be vigilant at all times.

Frequent Characteristics of Scams:

  • Sense of urgency and limited time offers: Scammers will attempt to prompt you into immediate action and catch you off guard. No government agency will call you asking for payment or take punitive action against you if you don’t act quickly.
  • Payment with wire transfer or gift cards: Once information is provided, the money is essentially gone and you cannot get it back. 
  • Secrecy and the need to not tell anyone: Never make a decision without consulting a credible and trustworthy source.
  • Low minimal risks with guaranteed high returns: Be cautious of any offer that guarantees a high rate of return with little or no risk or one that does not disclose risk.
  • Unsolicited offers, including social media avenues: A new post on your Facebook wall, a tweet mentioning you, a direct message, an email, a text, a phone call, or any other unsolicited communication regarding an investment “opportunity” related to Coronavirus (COVID-19).

You can best protect yourself by exercising caution. If you’ve received an unsolicited phone call, when in doubt, hang up. Never provide credit card or other financial or personal information as part of an unsolicited communication and think twice if you are being pressured to act now.

Know the Red Flags of Potential Fraud and Scams:

  • Has someone contacted you unexpectedly? If you weren’t expecting a phone call or didn’t initiate the contact, it should be a red flag.
  • Have they promised you something? If they are offering you something that seems too good to be true, it’s a red flag.
  • Have they asked you to do something? Are they asking you for money or account information? If you didn’t initiate the conversation, don’t provide it.

Any consumer can contact the Pennsylvania Department of Banking & Securities at (800) PA-BANKS or (800) 722-2657 to ask questions or file complaints about financial transactions, companies, or products. If you believe you have fallen victim to a scam, please contact your local law enforcement immediately.