Social Security Administration warns Americans of the banking scams they may suffer. Scammers will always try to get hold of your bank account’s personal information details. Bear in mind that there are millions of US citizens doing online shopping at the moment. Fraudsters know that Christmas is the best time for them to carry out their misdeeds.
The first scam SSA warns citizens of has to do with overpayment. In this case, a scammer will send you a check and tells you to put that money in your bank account. Then, they will request you to send them back part of the money. However, the check is fake. Therefore, you are accountable for paying the amount of the check to your bank.
Then, you will have lost any money that you have transferred them. So this scam will end up being extremely expensive. The second thing the Social Security Administration advises us to be careful of is unsolicited check fraud. Someone sends you a check without having a reason at all. In the event of exchanging it for money, you might end up authorizing them to buy something or even worst getting an unwanted loan.
What are automatic withdrawals scams according to Social Security Administration?
SSA warns that this scam consists of a company that manages to establish some automatic withdrawals, obviously from your bank account. In this way, they promise you to be eligible for a free trial or even to be awarded a fantastic prize. Once you cancel the service, they continue to charge you. Do not forget to revoke your authorization. You should talk to your bank in order to do that.
Phishing is another scam that affects millions of people all over the world. It is usually an email from what seems to be your bank. Then, they will request you to confirm either your credit card or bank account details. Do not click on those weblinks and contact your bank first. Do not forget that whatever scam or fraud you are aware of you should always report it.
In order to be as safe as possible from scams, be suspicious of any check-related deposit requests. Do not provide anyone with the number of your bank account so as to buy a lottery or get a free trial. If you are unsure about the authenticity of a check ask your bank first before getting the money. Wiring money can be an expensive scam so watch out. Keep in mind the Social Security warnings.