MSB Teaches Fraud Prevention to High Schoolers
Mayville State Bank is proud to be involved in financial education and annually presents information to graduating seniors in Mayville and Millington about credit awareness and fraud prevention. The best protection against becoming a victim of financial fraud is knowledge. Below are 4 of the top scams of the past decade as reported by PandaLabs.
Typically a letter or email arrives claiming that you are the winner of a foreign lottery. You are told that you must pre-pay the taxes before you receive the big pay-out. Unfortunately, you lose your money and never see a cent.
Selling Online - Check Overpayment
In this scam, you are selling an item online. An excited buyer sends you a check for more than the final price. Oops! The buyer requests that you wire or Western Union the difference back to them. You wire the money, ship the product and then the check is found to be fraudulent. You’ve lost the wired money and the item.
Bogus Job Offers
You apply for a “work at home” job and the scammers ask for your Social Security Number and bank account information. With this information they can wreak havoc.
Criminals hack into your Facebook or similar online account. They send out a message that you have been robbed while traveling in a foreign country and need money wired to you now. Unfortunately, your family and friends lose.
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