Fraud Prevention

Fraud & Scam Alerts

Unfortunately scams have become a very common way to trick consumers into sharing private, personal information with fraudsters or send money to them.  There are scams in just about every category...romance scams, car buying scams, fake check scams, job scams, gift card scams...the list goes on and on! We want to help provide you with resources and information so that you won't fall victim to scams. 

Quick Links


Be Aware of Common Scams

  • Romance Scams - Romance scams are often initiated online and typically begin like any other online relationship: interested parties exchange basic information, where they work, where they live, hobbies and interests. Relationships may form very quickly with the scammer expressing their “love” early on, despite never meeting in person. Learn more with these resources from the FTC.  
  • Phone Number Spoofing -  Scammers use caller ID spoofing to trick you into thinking they are calling from a local business or someone you trust. These scammers even spoof financial institution phone numbers and pretend to be bankers you know and trust. If you receive a call from a financial institution or one claiming to be from Legend Bank using our phone number, don’t give out or confirm any of your personal, private or financial information. Legend Bankers will never call you or email and ask you for this information.

  • Email Spoofing - Email spoofing is a technique used to trick you into thinking an email message came from someone you know and trust. In this type of scam, the sender forges email headers, contact information and email signatures, but they change some of the contact information. The email will look exactly like one you would expect from a colleague, company you work with or friend. The goal is to trick you into believing the email is legitimate so that you will follow through with their request.
    Here are some tips to avoid this scam:
    • Confirm the sender’s email address in the email is correct. It may only look
      slightly different so be diligent in double checking.
    • Verify the information in the sender’s signature information is correct. Check
      name spelling, phone number, email address and address.
    • Pause and consider the request in the email. Does it seem like a normal request
      you would receive from your contact or does it seem a little suspicious?
    • Send a new email or call the sender with the contact information you have to
      confirm it is a legitimate request.
      Click here to learn more about this scam.

  • Unclaimed Tax Return Scam -If you receive a cardboard envelope from a delivery service sent by the IRS, it’s most likely a scam. The letter enclosed has contact information and a phone number that doesn’t belong to the IRS and asks for sensitive personal information from taxpayers for an unclaimed tax return. You should always be wary of any request asking you to email or call a number to give financial or personal information.
    Click here to learn more about this scam.
  • Phishing Scams - Every day, thousands of people fall victim to phishing scams. Phishing is a type of scam where criminals make fraudulent emails, phone calls and texts that appear to come from a legitimate bank.
    • Banks Never Ask That - Check out our Banks Never Ask That page for tips and videos so that you can know what questions we aren't going to ask to protect yourself and your information.
    • How to Recognize and Avoid Phishing Scams - The Federal Trade Commission (FTC) provides a lot of resources to help you recognize these scams and what to do next. Click here to learn more.
  • Money Laundering Scams - Scammers are using threatening and intimidating tactics to accuse you, your spouse or your bank of money laundering. They ask for money to help clear your name or to help them catch your bank. If you receive a call like this, it’s a scam.
    To avoid these types of scams:
    • Never talk with someone you don't know about where you bank.
    • Don't give cash to someone you don't know that is demanding you pay them.
    • Be careful of scare tactics to cause you to take immediate action because of fear.
    • Know that you won't be contacted with claims about your bank participating in money laundering. Banks are heavily regulated and government agencies would contact the bank directly if there are any concerns.
    • Don't trust unknown callers. Hang up and immediately contact local law enforcement and your bank to make them aware of the calls. Click here to learn more about this scam.
 
  • Amazon Imposter Scams - The FTC recently shared tips to spot Amazon imposter scams and how to protect yourself. In these scams, "Amazon" contacts you to confirm that you didn't make a recent purchase or talk with you about your account being compromised. There are several versions of these scams. Here are some tips from the FTC on how to avoid these scams:
    • Never call back an unknown number. Use the information on Amazon’s website and not a number listed in an unexpected email or text.
    • Don’t pay for anything with a gift card. Gift cards are for gifts. If anyone asks you to pay with a gift card – or buy gift cards for anything other than a gift, it’s a scam.
    • Don’t give remote access to someone who contacts you unexpectedly. This gives scammers easy access to your personal and financial information—like access to your bank accounts.
      Click here to learn more about this scam. 
      Click here to learn more from the FTC.

  • Fraud Department Imposters - Scammers are sending texts and calling customers posing as our fraud department, disguising their caller ID to make it look like it's coming from the Legend Bank Customer Care phone number (800-873-5604). If you get a call requesting your online banking login ID and password, don't share it, even if the caller says they are verifying fraudulent transactions on your account. 
  • Social Security Scams - The FTC has provided these tips about scams where people pretend to be from the Social Security Administration trying to get your number and even your money!
  • IRS Scams - IRS imposter scams are becoming a popular ways to scare consumers into making payments. Learn more from the FTC.
  • Fake Check Scams - Fake checks are used in a variety of scams, for example if you are told you won a big prize or you are offered a mystery job opportunity, you could be a victim of a fake check scam. Scammers continue to trick consumers into sending them money through these scams. Learn more about these scams and how to avoid them by clicking here.  
 

Scam Red Flags

Scammers are very creative in the tactics they use to get you to give them what they are asking for. According to the FTC, if you are told any of the following, it's most likely a scam.
  • "Act now!"  Scammers use pressure, so you don't have time to think. But pressuring you to act now is always a sing of a scam. It's also a reason to stop.
  • "Only say what I tell you to say." The minute someone tells you to lie to anyone including your bank tellers or investment brokers, stop. 
  • "Don't trust anyone. They're in on it." Scammers want to cut you off from anyone who might slow you down. Stop!
  • "Do [this] or you'll be arrested." Any threat like this is a lie. Nobody needs money or information to keep you out of jail, keep you from being deported, or avoid bigger fines. They are all scams.
  • "Don't hang up." If someone wants to keep you on the phone while you go withdraw or transfer money, buy gift cards, or anything else they're asking you to do, that's a scammer. DO hang up.
  • "Move your money to protect it." Nobody legit will tell you to transfer or withdraw your money from your bank or investment accounts.
  • "Withdraw money and buy gold bars." This is a scam always, every time.
  • "Go to a Bitcoin ATM." Nobody legit will every insist you get cryptocurrency of any kind. And there's no legit reason for someone to send yo to a Bitcoin ATM.
  • "Buy gift cards." There is never a reason to pay for anything with a gift card. Once you share the PIN numbers on the back, it's the same as handing them cash...it's gone.

Resources


Account Notification Services

We encourage you to use the following services on your account so that you can be notified about transactions on your account:
  • Card Control - Know where and when your card is being used and protect it by turning it off if you suspect fraud or if you lose your card. In this particular scam, the fraudster is not targeting your debit card; however if you have alerts turned on you would be notified of any card use, which would allow you to question the suspicious fraud alert text. Learn more about Card Control.
  • Account Alerts - We encourage you to set up account alerts so that you'll be notified when transactions occur on your account. Once you are logged in to Online Banking you can set up the following types of account alerts:
    • Security Alerts
    • Account Alerts
    • History Alerts
    • Online Transaction Alerts
    • Reminder Alerts 
You can also determine how you'd like to receive your alerts:
    • Email
    • Phone Call
    • Text Message
    • Secure Message in Online Banking
To learn more about setting up alerts, please watch our how-to video.
 
Stop Identity Theft

Identity theft occurs when someone uses your personal information such as your name, Social Security number, credit card number, debit card number and PIN or other identifying information without your permission to commit fraud or other crimes.

To prevent being a victim of identity theft:

  • Don't give out private, personal information to someone you don't know or to someone contacting you directly asking for this information
  • Review your bills and statements on a regular basis
  • Guard your mail and trash from theft
  • Shred items that contain personal information
  • Report lost or stolen checks or credit cards immediately

Reporting and Recovering from ID Theft