Keeping you protected from fraud – it’s what we do!

How to avoid these two common scams

We need to talk … it’s about keeping you protected from scam artists.

With fraud ever prevalent, knowing how to avoid scams in today’s digital age can be difficult.

At Park Bank, we understand that life can be busy, and it’s not always easy to know what a bank might ask for or what information you should feel comfortable giving out.

Here are the three most important things to know:

1. At Park Bank, we will NEVER ask you for your account number, Social Security Number, name, address, PIN, or password via email, text message, or phone call. We will only ask for this information to verify your identity if YOU call us.
2. Fraud mitigation tools within our Personal Banking platform, like Credit Sense^SM, Card Valet®, and Account Alerts are always on for your protection — keeping your finances and Personally Identifiable Information (PII) safe.
3. If you suspect you’ve been duped by a scammer, call us immediately at 608.278.2801. We’ll guide you from there.

While we will always take measures to protect you, it’s important that you stay informed and take proactive steps to protect yourself as well.

With that in mind, here are two common scams to be aware of so you can avoid them:
 

1. The “Job Scam.”

Criminals attempting to orchestrate the “Job Scam” prey on the human desire to:

• Make easy money working from home.
• Set their own schedule.
• Be their own boss.

Here’s how it could go down:

An email hits your inbox with the subject line: “{YOUR NAME}, make money working from home!” (Who couldn’t use extra money working from the comfort of their home?)

Intrigued, you open the email where the criminal presents what looks like a valid job opportunity. They’ll tell you that you can set your schedule, be your own boss, AND they’ll send you a check to cover the cost of equipment (e.g., a starter kit).

Sounds pretty great, right?

Here’s where it takes a turn.

After depositing the check, they’ll request that you return a portion of the money due to “overpayment” – or they’ll tell you to send it to another party. Then, the original check they gave you will bounce and you’re out the money you just sent. (This part is known as the “fake check scam.”)   

You can avoid the “job scam” by following these tips:

• Speak with someone you trust before accepting an offer.
• Research the company name and the person hiring you.
• Never pay for the promise of a job.

For more information on this topic, visit https://consumer.ftc.gov/articles/job-scams.

2. The “Gift Card Scam.”

“Gift Card Scams” occur when a fraudster deceives a person into buying gift cards and revealing the card details to them.

The fraudster may pose as someone connected to your financial information, like the IRS, a utility company, or a bank, and try to intimidate you into buying gift cards to avoid paying taxes or a fine.

They may even claim to be someone you know and trust, like your boss. With so much information available online, it may not be difficult for a fraudster to identify some of your colleagues and even who you report to.

Here’s one way this hoax could take place: The scammer pretends to be your manager. They contact you on a weekend day via text, claiming to have a new or temporary number (for some made-up reason) and ask you to pick up gift cards for your coworkers.

SAMPLE TEXT:

“Hi Tim, this is your manager, Jill. Messaging you from this number because I’m in the process of changing phones. Can you do me a favor and pick up a $25 gift card to XYZ Store for everyone in the office (including yourself) today? Just use your company card to pay and we’ll hand the gift cards out Monday. Thank you!”

Thinking that you have an awesome manager, you agree to purchase the cards. After purchasing, your “manager” texts you again.

“Hey, can you message me the gift card numbers and PINs for the gift cards? I’ll need to send that information to accounting to verify the purchases.”

Pretty slick – but don’t fall for it! Once you’ve sent the codes, there’s no going back and you (or your company) are out the money you spent on the gift cards.

Fraudsters like this trick because gift cards have fewer protections than other payments, like credit or debit cards. And you typically can’t take these types of transactions back.

According to the Federal Trade Commission, consumers lost $228.3 million to gift card scams in 2022. So, if you get a call, text, or email asking you to pay for something using the codes of a gift card, know it’s more than likely fraud.

Gift card scams can take many other forms. Visit https://consumer.ftc.gov/articles/avoiding-and-reporting-gift-card-scams#howwork to learn more.

What should you do if you have questions or concerns?

Talk to us! We’re always by your side. You can reach our At Your Service team at 608.278.2801.

At Park Bank, our top priority is getting you to your NEXT safely!

You can also visit https://www.parkbank.com/blog/category/security for more information on all things security!