Advisory: Friday, May 18, 2018

This advisory communication is to let you know that some financial institutions in the Quad Cities (Iowa and Illinois) have reported circulation of counterfeit cashier’s checks.

Details

In the past weeks, multiple financial institutions in the Quad Cities area of Iowa and Illinois have reported through the Financial Services Information Sharing and Analysis Center (FS-ISAC) that counterfeit cashier’s checks have been circulating in the area.

The checks are realistic and bear proper routing numbers. The cashier’s checks are being used as part of a “secret shopper” work-at-home scheme, which operates like this:

• The victim responds to an offer to work from home, then receives a cashier’s check for several thousands of dollars.
• The victim is instructed to deposit the check into his or her own account and to keep several hundred dollars as “payment.”
• The victim then uses the balance to perform some assignment, which generally involves sending the balance of the funds to third parties via wire transfers through a large retail store’s cash transfer services.
• By the time the illegitimate cashier’s checks are returned as fraudulent, the victim’s funds are gone.

 

What you can do:

Consumers who receive counterfeit checks can file complaints with the following agencies, as appropriate:   

• U.S. Department of the Treasury, Office of Inspector General (OIG) by telephone at 800-359‑3898 or by visiting the OIG website.
  
• Federal Trade Commission (FTC) by telephone at 877-382-4357 or by visiting the FTC website.
  
• National Consumers League (NCL) by telephone at 202-835-3323 or by email. To file a fraud complaint, visit the NCL Fraud website. 
  
• Better Business Bureau (BBB).
  
• FBI’s Internet Crime Complaint Center (IC3) to report scams that may have originated via the internet.
  
• If correspondence is received via the U.S. Postal Service, contact the U.S. Postal Inspection Service by telephone at 888-877-7644; by mail at U.S. Postal Inspection Service, Office of Inspector General, Operations Support Group, 222 S. Riverside Plaza, Suite 1250, Chicago, IL 60606-6100; or via the online complaint form. 
  

 

What your bank can do:

• Exercise heightened vigilance when receiving cashier’s checks for deposit.
• Verify authenticity with the originating financial institution.
• Warn customers of the scam.

Phishing - Don't Get Lured! Learn More

Privacy, Identity & Online Security  Learn More

General Guidelines

Debit Card Point-Of-Sale (POS) Activity

Walk-Up ATMs

• Observe the ATM surroundings before approaching a walk-up ATM. If anyone or anything appears to be suspicious, cancel your transaction and leave the area at once.
• If an ATM is obstructed from view or poorly lit, go to another ATM. It is a good idea to take along a companion when using an ATM, especially at night.
• Minimize time spent at the ATM by having your card out and ready to use. Do not let anyone see how much money you withdrew, and never count your money at the ATM.
• Never allow a stranger to assist you in conducting an ATM transaction, even if you have trouble or if your card is stuck.
• Stand between the ATM and anyone waiting to use the terminal so that others cannot see your PIN or transaction amount.
• Look for possible fraudulent devices attached to the ATM. If the ATM looks different or appears to have any alterations or attachments to the card slot or PIN pad, do not use it.  Notify local law enforcement, when possible.  

Drive-Up ATMs

• Keep the doors locked, windows up and engine running at all times when waiting in line.
• Leave enough room between cars to allow for a quick exit should it become necessary.
• Before lowering the window to use a drive-up ATM, observe the entire surrounding area. If anyone or anything appears to be suspicious, cancel your transaction and drive away at once.
• Minimize time spent at the ATM by having your card out and ready to use. Once your transaction is complete, take your money, card and receipt and immediately drive away from the terminal.
• If anyone follows you after you have completed your ATM transaction, go immediately to a crowded, well-lit area and call the police.

With sufficient information, a con artist can become "you" and use your identity to order new credit cards, make counterfeit cards or checks, or otherwise go on a spending spree in your name. It's called identity theft or ID theft, and it's a serious problem.

 

In general, consumers are protected against liability for unauthorized accounts or transactions. However, innocent victims of ID theft sometimes do suffer losses. And if the crime is not detected early, people may face months or years cleaning up the damage to their reputation and credit rating. The evolution of ID theft includes the spread of fraudulent "phishing" (pronounced "fishing") emails. These are unsolicited emails purportedly from a legitimate source, like your bank, attempting to trick you into divulging personal information.

 

Your personal and financial information can be as good as cash to a criminal. So, take ID theft seriously. Contact your nearest Citizens First Bank branch for more help on how to protect yourself.