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What You Need to Know About Fraud...Protect Yourself

Check fraud, identity theft, internet-based and other scams are on the rise throughout the U.S., and Vermont is no exception. Internet auctions, business opportunity scams, promises of free or bargain vacations and other prizes, check cashing schemes and other rip-offs are growing.

There are ways to protect yourself against the con artists who are trying to steal your money. Ask yourself:

Have you recently been contacted via email or Internet chat rooms regarding the purchase of an item you have for sale on the Internet such as a boat, car, jewelry, etc?
Have you recently been contacted by someone who wants to make an investment into a business you want to establish?
Have you recently been contacted about winning a lottery that you did not enter?
Did you receive a check within 24-48 hours from a person or entity other than the person or entity that originally contacted you?
Did the check arrive with a Canadian or non-U.S. postal mark?
Is the amount of the check more than the selling price of the item?
Have you been asked to assist in the distribution of money from another country?
Have you been instructed to wire funds out of the country as soon as possible due to a change in the original agreement?

If you answered "yes" to any of these questions be cautious. Never respond to an offer, e-mail or other activity if it’s from somebody you do not know. It’s a good rule of thumb to respond only if YOU are the person that initiated the contact or the communication is from an entity you do business with. And to take it a step further, call the business to confirm that the e-mail, telephone call or special offer is truly from that business.

Contact us or any other financial institution you use if you suspect fraudulent activity. Visit the Federal Trade Commission’s website at www.ftc.gov to read about the different kinds of scams and how to detect them.