Online Security & Alerts for Individuals and Families

Helping you stay educated on scams and fraud trends is a top priority at Merchants Bank. Take a look at some of the common scams and recent fraud alerts to help keep you and your family safe and learn about what to do next if you've experienced fraud.

Common Fraud Activity & Scams to Know About

Mobile Deposit Scam

What it looks like: You're sent a check from someone (a fraudster) and asked to deposit it using mobile deposit through your account. After you've given the fraudster the money from the deposit, you're notified that the check was fraudulent.

How to protect yourself: Being asked to use mobile deposit to deposit a check for someone else is a red flag. Just don't do it.

Gift Card Scam

What it looks like: You are asked to buy gift cards on behalf of someone (a fraudster) who is sending you a check for the gift cards. You deposit the check, purchase the gift cards and then provide the gift card redemption codes to the fraudster. Only after you've provided the codes do you discover that you were sent a fraudulent check.

How to protect yourself: Be suspicious of anyone you know or don't know asking you to buy gift cards. Fraudsters can pose as your friends or family through email, phone calls or text messages.

Check Cashing Fraud

What it looks like: You receive a check in the mail you weren’t expecting. For example, you receive a winnings check in the mail from a drawing you did not enter.

How to protect yourself: When you receive a check, make sure to consider where it came from. If the situation doesn’t sound right, it’s time to do some more investigating before depositing that check.

Computer Cleaning Scam

What it looks like: You are on your computer when a message pops up and warns you that your computer is compromised. If you don't act now, your computer will crash. Offering to help, a scammer dials into your computer to try to "fix" the issue, meanwhile gleaming your personal information. Sometimes, the scammers require payment to "fix" the computer.

How to protect yourself: Do not open or click on any computer pop-ups.

Fraudulent Check/Craigslist Scam

What it looks like: You sell something online and the buyer (aka fraudster) sends you a check for more than the asking price of the item. The fraudster will ask you to deposit the check and then send the extra money back. For example, you sell a car on Craigslist for $1,000 and the purchaser sends you a check for $3,000, asking you to send them the remaining $2,000 cash back.

How to protect yourself: Be wary of payment checks for more than the asking price of the item you are selling. Should a check be deposited into your account and that check is found to be fraudulent, the amount of that check will be debited from your account, so you’ll be out the full amount of the check (both the amount of the item you were selling and the amount the buyer/fraudster asked you to send back to them).

Phishing Calls and Texts

What it looks like: You receive or phone call or text message asking you to verify account or transaction information. The call or text may feel legitimate, but it’s not.

How to protect yourself: Be a skeptic. Before you provide any information, look up the company or person contacting you via a third-party source such as a website or phone book. Call back using the phone number you found to verify the request was legitimate.

Relative Scam

What it looks like: A fraudster will call you posing as a relative or friend of a relative asking for money because of an emergency (money for bail, medical bills, etc).

How to protect yourself: Verify the true location of your relative before responding – even if the person you’re talking to sounds like someone in your family.

Romance Scam

What it looks like: You meet someone online who you become romantically involved with. This person asks you for money so they can visit you in person.

How to protect yourself: Be diligent when using online dating and friendship sites to connect with others. It’s important to be cautious before providing personal information or sending money to someone you have met online.

Stolen Checks/Outgoing Mail

What it looks like: Fraudsters steal your outgoing checks and use them to make purchases.

How to protect yourself: If you have outgoing checks, bring them to the post office instead of leaving them in your mailbox - especially with your flag up…it tells fraudsters to look in your mailbox. Check your accounts daily for fraudulent transactions and alert the bank immediately if you see something suspicious. You can also use our fraud apps for your debit or credit cards (link to personal access) to potentially catch fraud and turn off your card before more happens.

Next Steps if You’ve Experienced Fraud

If you notice fraud on a statement of your personal bank account, be sure to contact us within 60 days from the date your statement was issued. In most cases, if the fraud is reported within 60 days, we have a better chance of resolving the issue. After 60 days from the statement’s issue date, there is nothing we can do to retrieve the lost funds.