The Federal Deposit Insurance Corp. (FDIC) is warning consumers of recent scams, where it says imposters have been pretending to be agency representatives to perpetrate fraudulent schemes.
The scammers, taking advantage of unprecedented times, might provide false information to consumers regarding the security of their deposits or their ability to access cash.
“The FDIC reminds bank customers that since 1933, no depositor has ever lost a penny of FDIC-insured funds,” the agency said in a news release. “Today, the FDIC insures up to $250,000 per depositor per FDIC-insured bank.”
The FDIC does not send unsolicited correspondence asking for money or sensitive personal information, the agency said, and it never will contact people asking for personal details, such as bank account information, credit and debit card numbers, Social Security numbers, or passwords.
Scammers also might claim to be employed by an agency, bank, or another entity. These scams may involve a variety of communication channels, including emails, phone calls, letters, text messages, faxes, and social media, the FDIC said. Scammers might also ask for personal information such as bank account numbers, Social Security numbers, dates of birth, and other details that can be used to commit fraud or sell a person’s identity. The FDIC said consumers should not provide this information.
“Some banks may have adjusted hours or services in compliance with Centers for Disease Control guidance on social distancing. Customers’ deposits remain safe in these banks, as does customer access to their funds,” the FDIC said.
A day later, the National Credit Union Administration (NCUA) issued a similar statement, reminding people to remain vigilant against scams, and reassuring credit union members about the safety of their deposits.
“Federally insured credit unions offer a safe place for credit union members to save money,” NCUA stated. “All deposits at federally insured credit unions are protected by the National Credit Union Share Insurance Fund, with deposits insured up to at least $250,000 per individual depositor. Credit union members have never lost a penny of insured savings at a federally insured credit union.”
NCUA also detailed potential scams to be aware of when dealing with their credit union.
“The NCUA is also reminding individuals to remain vigilant against scams related to the coronavirus. Cyber actors may send emails with malicious attachments or links to fraudulent websites to trick victims into revealing sensitive information or donating to fraudulent charities or causes,” the agency stated. “Exercise caution in handling any email with a COVID-19-related subject line, attachment, or hyperlink, and be wary of social media pleas, texts, or calls related to COVID-19.”
The FDIC reminded consumers that its Electronic Deposit Insurance Estimator (EDIE) is a tool that can help consumers determine deposit insurance coverage based on accounts they may already have with a bank or accounts they are considering opening. The agency recommended using EDIE for questions about FDIC deposit insurance coverage.
Consumers are encouraged to contact the FDIC’s Call Center at 1-877-ASK-FDIC (1-877-275-3342), Monday – Friday, 8 a.m. to 8 p.m. (ET), if they have any questions or believe they have been a victim of fraud or a scam.