At Bridgewater Savings, we are committed to the health and well-being of our customers and employees –– and that includes your financial health. Unfortunately, in times of uncertainty, scammers often take advantage of the fears surrounding a particular situation, such as the COVID-19 crisis.

Currently, there have been reports in many different states of a money mule scam regarding Unemployment Insurance claims with stolen social security numbers that were collected during previous data breaches.

The scammers are targeting people to receive multiple deposits from unemployment benefits, in different names and not of the account holder. Those targeted individuals are then asked to wire or transfer the majority of those funds to the scammer.

In some cases, the scammers are portraying as a love interest and offering to help you, only to turn around and steal your money. If a money mule scam is suspected, you should break off the contact with the scammer and report the incident to the Federal Trade Commission (FTC).

Stay vigilant as we continue to see an uptick of the bad guys at work. Here are a few tips:

Don’t trust unusual requests, job offers, or love interests, even if you are sent the check first.
Don’t open a new bank account to receive funds from individuals you don’t know.
Don’t use your own bank account in your name to transfer money for anyone.
Don’t deposit a check and wire the money back to the individual.
Don’t purchase gift cards to mail to the individual.

There have also been a number of scams relating to charitable giving. The bad guys are hoping to use your compassion to their advantage, posing as charitable organizations that claim to fund research, support hospitals, or provide help to victims of the virus, such as a cure. The FTC has some guidance that will help you donate wisely and avoid scams.

We will continue to be available to answer any questions or concerns; please call us at 800.356.8622. If things seem too good to be true and it doesn't feel right, then it probably isn't. We are here to help!

Please note that Bridgewater Savings Bank will never ask you to reveal or confirm any personal or account information from an email. We value and respect your email privacy. View our privacy policy.

Bridgewater Savings Bank | 756 Orchard Street | Raynham, MA 02767
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