MORE SCAMS: Just about every day, we hear about another scam trying to separate people from their money.
U.S. Sen. Bob Casey, D-Pa., has shared another with us.
Casey is ranking member of the U.S. Senate Special Committee on Aging, and he issued a warning to consumers of a scam involving Federal Reserve Bank routing numbers.
Recently, Federal Reserve Banks in New York and Ohio have warned of scammers convincing individuals to use Federal Reserve Bank routing numbers and their personal Social Security numbers to pay bills.
The Federal Reserve is rejecting these fraudulent transactions and consumers could be liable for late fees and other penalties, in addition to the original amount of the bill for which they remain responsible. The Federal Reserve only conducts business with other banks and does not hold money in accounts for individuals. Seniors are often targeted in scams and are at a greater risk of losing hard-earned money.
“Beware of a recent scam convincing individuals that they have accounts with the Federal Reserve Bank,” Casey said. “Individuals cannot bank with the Federal Reserve or use Federal Reserve Bank funds to pay bills. As the saying goes, if it sounds too good to be true, it probably is.”
If you suspect you have been the victim of a scam, please report it to the U.S. Senate Special Committee on Aging Fraud Hotline (855) 303-9407.
Some tips on handling unwelcome calls from the Federal Trade Commission: Resist pressure to make a decision immediately; keep your credit card, checking account or Social Security numbers to yourself; don’t pay for something to get a “free” gift; get all information in writing before you agree to buy; don’t send cash by messenger, overnight mail or money transfer.
If you aren’t sure if it’s a scam, call (877) 383-4357. Report any caller who is rude or abusive.
Register your phone number on the National Do Not Call Registry.
Technology makes it easy for scammers to fake Caller ID information, so the name and number you see aren’t always real. If someone calls asking for money or personal information, hang up. If you think the caller might be telling the truth, call back to a number you know is genuine.
