Multiple residents victims of bank fraud last year; how do you prevent that from happening to you?

by Sara Swanson

Local and area residents are confronted on a regular basis with scams and the potential for fraud hitting their bank accounts. In December we reported that the WCSO is investigating a fraudulent withdrawal of $5,500 from a City resident’s bank account as part of a scam. In fact, the WCSO crime data dashboard shows that after assault, fraud was by far the most common crime reported in the 48158 ZIP code in 2023.

Joanne Rau, president and CEO of Chelsea State Bank, explained that types of fraudulent activity include altered checks and debit card fraud. She stated, “Businesses are encouraged to, at a very minimum, use the alert feature through online banking, and review accounts daily. Personal Banking Customers (regardless of financial institution) should review their account activity on a regular basis (daily), and notify their financial institution immediately of suspicious activity.”

Rau continued, “Chelsea State Bank takes the privacy and security of our customers very seriously, which is why we are calling on all of our customers to take the critical steps of activating alerts through our online banking system. This necessary step is another layer of added protection for our valued customers. We work very closely with local law enforcement, serve and belong to various fraud prevention and risk mitigation forums/committees, and like many financial institutions, we are still experiencing fraud attempts.”

General tips to prevent bank fraud from American 1 Credit Union, applicable to everyone, regardless of bank, include:

• Do not send money to someone you don’t know or have not met personally.
• Do not respond to online solicitations for “easy money.”
• Give only to well-known and credible charities.
• Do not agree to deposit a check and wire money for anyone.
• Do not reply to messages or emails asking for personal or financial information.
• Use caution answering the phone from an unfamiliar number.
• Phone numbers can be faked. Even if your caller ID shows that a caller is using a number in your area, they could actually be from another state.
• Do not open emails from senders you do not recognize or click on unknown links in them.
• Use strong passwords with at least eight characters, including letters, numbers, and symbols.
• Do not trust “free” credit report information.
• Never allow strangers to come into your home and take information about you or your assets.
• Never sign contracts that have blank lines in them. Someone can add clauses later that harm you.
• No legitimate company will ask to be paid in Apple or Google Play cards.
• You should never have to send money back to someone who sent you a check for lottery winnings, a new job, or the sale of an item. Sending cash back always equals fraud.
• Do not file a false claim with your credit union [or bank]. By filing a false claim you are a co-conspirator to fraud.
• Treat your mail carefully. Place outgoing mail in a secure collection box and remove mail from your mailbox promptly.
• Only carry what you need in your wallet. Do not carry your social security card — keep it at home in a secure location.
• Only give your social security number to trusted entities such as your financial institution, your employer, government agencies, law enforcement, and insurance companies.
• Protect your PIN: Do not give your PIN to anyone over the phone or internet, never let someone enter your PIN for you, do not write it on your card, and memorize your PIN.

American 1 customers can visit https://www.american1cu.org/ and click on “Fraud Fighters” under the Explore tab. Old National customers can find resources to prevent and combat fraud at https://www.oldnational.com/security/fraud-prevention/. Comerica customers can visit https://www.comerica.com/fraud-center/fraud-scams.html. Chelsea State Bank Business customers have the choice to enroll in a Treasury Management Service that provides elevated fraud prevention called Positive Pay. For more fraud prevention resources from Chelsea State Bank visit https://www.chelseastate.bank/services-tools/fraud-prevention.html. (If you use a different area bank, ask about fraud prevention tips and tools next time you visit your bank.)

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by Sara Swanson

Sara Swanson is an editor, writer and founder of the Manchester Mirror.