STATE BANK OF SOUTHERN UTAH BLOG

Money Transfer Job Offer Fraud



Be cautious of job offers that involve money transfers because they are designed to propagate fraud. Here's how it works: Crooks break into the bill-pay account of innocent victims and send money to people who responded to offers like the example shown below and become unwitting “mules” in a chain of fraud. When the bill-pay money is credited to the mule’s account (either by ACH or by check), his "job" is to withdraw it and send it elsewhere by Western Union, Money Gram or Green Dot. The crooks pick up the cash at the other end to complete the circle of fraud. The mule keeps 20% thinking that he has performed a valuable service.




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Topics: Fake Bill-pays, Transfer Money, Fraud Alert, Fraud, Classified Email Fraud


10 Ways to Avoid Fraud




Courtesy of www.consumer.ftc.gov

Scam artists in the U.S. and around the world defraud millions of people each year. They use the phone, email, postal mail, and the internet to trick you into sending money or giving out personal information.

Here are 10 things you can do — or not — to stop a scam.




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Topics: Report Scams, Fraud Alert, Stop a Scam, Fraud, Education, Avoid Fraud


Fraudulent OCC Correspondence



OCC Issues Alert on Fraudulent Correspondence


The Office of the Comptroller of the Currency yesterday issued an alert about fraudulent correspondence -- distributed via email, fax, or postal mail -- involving funds purportedly under the control of the OCC and other government entities.

“The correspondence may indicate that funds are being held as a requirement for an issuance of a Money Laundering Clearance Certificate in reference to a release of funds




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Topics: Fraud Alert, Comptroller of the Currency, Fraudulent Correspondence, Fraud


About SBSU

Hometown banking was established in southern Utah with the opening of State Bank of Southern Utah in 1957.

Hometown banking is important because people who live and work in southern Utah make the decisions. Bank employees and officers understand the banking needs of area residents because they are affected by the same economic climate. Find out what hundreds already know - hometown banking is better.

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