Protect Yourself from Fraud
Pacific Coast National Bank is dedicated to protecting its customers from fraud. The following information will help guard our customers against fraud.
With so much personal information moving back and forth, it's no surprise that frauds and scams are on the rise. Our customers can minimize their risks by managing their personal information wisely, cautiously and with heightened sensitivity. Pacific Coast National Bank offers straight talk and sound advice on ways to deter and prevent identity theft, counterfeit checks, e-mail and other scams.
It is important to become familiar with and to know how fraudsters operate. The key to this is to be aware of what types of scams are being used. Once you educate yourself about these scams, you can be protected. Most importantly, the best defense against fraud begins with you. The subjects listed below will provide you with information on the various types of fraud and tips on how not to become a potential victim.
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Counterfeit Cashier's Checks
Counterfeiting bank cashier's checks is one of the latest crime fads, and con artists are making a good living at this scam.
Computer technology has given con artists the ability to make very good counterfeits. Unlike currency that has a specific design and uses special paper and security features, each bank's cashier's checks are designed differently and printed on many kinds of check paper with any varying number of security features. It's this inconsistency that makes cashier's check a likely target for counterfeiters.
Many people can fall victim to this type of fraud because the person accepting the cashier's check doesn't know what a genuine check is suppose to look like. Although people can feel relatively safe in accepting genuine cashier's checks, a person accepting a counterfeit check is generally financially liable for the item. If you have questions concerning the acceptance of a cashier's check contact your personal banker at Pacific Coast National Bank.
Counterfeit Cashier's Check Scams: How They Work
You get a bad check and they get your car
The scam begins when a counterfeiter poses as a potential buyer of a large item for sale. For example, the item can be a car. The seller signs over the title and the counterfeiter heads directly to the Motor Vehicle Division. Within an hour, he could have a new title and you have no idea you have a bad check. He'll find another buyer looking for a good deal and sell him the car cheap.
You receive over payment for an item you are selling
Another scam finds the counterfeiter buying expensive items on the Internet or through newspaper classified ads. Many of the individuals posing as potential buyers are from overseas or say they are from overseas. This is how the scam unfolds:
- The buyer sends a check for an amount greater than the seller's price
- The buyer then asks the seller to send by Western Union the overpayment to another individual who will be making arrangements for shipping of the purchased property.
A seller may not only lose the property they're trying to sell, but they may also become financially liable for the counterfeit check they accepted for purchase the property.
You get a check and are asked to wire the funds
Another scam using counterfeit cashier's checks doesn't involve the purchase or sale of anything. A communication may come to you by email, fax, or letter asking for your help in moving millions of dollars out of a foreign country and into the United States.
- They may say they are a widow of a former military officer in a foreign country who needs assistance in moving money out of the country before her country's government confiscates the money.
- They may say they are an official of their country's government and that they've discovered money in a government account that comes from companies that were over-invoiced for work they did for their government and they now want your help in moving the money out of the country.
- They'll even attempt to pass themselves off as a religious organization asking for help to move money belonging to an orphanage that is being shut down by their country's government.
- They tell potential victims that they are an heir of an estate and there is an unclaimed inheritance waiting for them. They ask individuals to mail in a fee to help locate and process the claim to their inheritance.
There are hundreds of variations of this scam. At some point they will ask for money that is needed to pay taxes or a claim fee on the money before it can leave the country. When the person who volunteers their services to help move the money indicates they don't have the money to pay the necessary fees, the scammer says they have a check (which is counterfeit) that they say they obtained from someone who was willing to advance the money for the needed fees. The volunteer is then directed to deposit the money into their bank account and then wire transfer the money to another party. When the counterfeit check is returned unpaid from the bank that it is supposedly drawn on, the bank customer becomes liable for the check and has to return the money to the bank.
Tips for Avoiding Counterfeit Cashier's Checks
- Be suspicious of offers from outside the United States.
- Be wary if a buyer sends more than the purchase price of an item.
- Use Internet phone directories to obtain the phone number of the bank issuing the Cashier's Check. Call or visit the bank to confirm the check is legitimate.
- If you're selling a car, tell the buyer you'll meet him at the bank that issued the check. That way you will know if the check is for real.
- If it's an out of state check cashier's check, tell the buyer to cash it himself. Treat a cashier's check like any check - with caution.
- If possible ask that the funds be wired to your account. Typical wire fees range from $20 to $25.
Remember to trust your instincts. If you suspect something is wrong, don't do the deal. Almost all victims were suspicious at first, but did not trust their feelings.
For additional information relevant to counterfeit checks, visit the web sites listed below:
- Crimes of Persuasion - Schemes, Scams, Fraud. Explains how con artists will steal your savings and inheritance through telemarketing fraud, investment schemes, and consumer scams.
- California Office of the Attorney General- Consumer alerts to inform the public of unfair, misleading, or deceptive business practices.
Email Fraud
Email Fraud called "phishing" is becoming increasingly more common. The high tech scam uses spam to deceive consumers into surrendering sensitive information that could later be used for identity theft.
Recently, many consumers using the Internet have been tricked into revealing Social Security Numbers, bank account information, credit card numbers, passwords and other sensitive information. The consumers receive fraudulent emails directing them to a website where they are asked to update personal information. The website is often similar to a company that the victim deals with regularly, such as his or her Internet Service Provider or bank. This scam known as "phishing" cons consumers into surrendering private information that the scammers can use to obtain goods and services and obtain credit.
You can protect yourself from these scams by following these tips
- Avoid emailing personal and financial information. Pacific Coast National Bank will never ask you for personal or financial information via email. If you receive such a solicitation, please forward it to or contact us at 949-361-4300.
- Do not reply or click on the link, if you receive an e-mail that warns you, with little or no notice, that an account of yours will be shut down unless you reconfirm your billing information. Instead, contact the company cited in the e-mail using a telephone number or Web site address that you know is genuine.
- Review credit card and bank account statements as soon as you receive them to determine whether there are any unauthorized charges. If your statement is late by more than a few days, call Pacific Coast National Bank or your credit card company to confirm your billing address and account balances.
- Report suspicious activity to the Federal Trade Commission (FTC). Send the actual spam to uce@ftc.gov. If you believe that you have been scammed, file your complaint at http://www.ftc.gov and then visit the FTC's Identity Theft Web site
Never Share Your Password and change your password often. Visit http://www.ftc.gov/spam to learn other ways to avoid email scams and deal with deceptive spam.
Protect Yourself Against Check Fraud
New technology, inexpensive software, scanners and improved printers make it easier for thieves to set up fraudulent check stings.
Pacific Coast National Bank has initiated training programs and other safeguards to help prevent and detect this crime. Listed below are a few things that you can do to prevent check fraud.
Ordering Checks
- Order checks from a reputable check printer like Clarke American. Do not order checks from unknown web sites or from telemarketers phoning your home.
- Don't have your social security number or phone number automatically listed on your checks.
- Contact Pacific Coast National Bank if your checks don't arrive within 14 days of ordering.
Writing Checks
- Make sure the hand writing on your checks is compact, and there aren't spaces or gaps that can be used to alter the amount of your check.
- Don't allow a retailer to write your Social Security number, credit card number or phone number on your check.
- Write checks in permanent ink (can't be washed off the paper).
Mailing Checks
- Mail checks from a US postal box, not your home mail box.
- Prevent your checks from showing through envelopes by using security envelopes or folding a piece of paper around checks.
Reconciling Checks
- Contact Pacific Coast National Bank if your statement is late in arriving.
- Reconcile your checking account statement promptly.
- Report any discrepancies immediately.
Safeguarding Checks
- Keep your checks in a safe place at home with limited access (not the desk drawer in the office or den).
- Keep checks at work in a secure place.
Disposal of checks/bank statements
- Shred left over deposit tickets after all the checks have been used.
- Shred statements you want to dispose of.
What to do about Stolen Checks
- File a police report.
- Contact Pacific Coast National Bank about your account.
- Contact the check verification companies listed below:
| CheckRite | 800 766-2748 |
| Chexsystems | 800 428-9623 |
| CrossCheck | 800 552-1900 |
| Equifax | 800 437-5120 |
| National Processing Co. (NPC) | 800 526 5380 |
| SCAN | 800 262-7771 |
| Telecheck | 800 710 9898 |
Identity Theft
Identity Theft is the fastest growing crime in the country. Many law enforcement officials believe that the problem is rapidly reaching epidemic proportions. The Federal Bureau of Investigation estimates that over 500,000 consumers are the victims of identity theft each year.
The Crime of Identity Theft
With so much personal data moving back and forth, it's no surprise that identity theft is the fastest growing crime in the country. Identity theft requires no direct communication between criminal and victim, and can be carried out in a number of ways. The most common method is known as "dumpster diving," where a thief picks through garbage cans to find discarded bank or credit card statements or junk mail. Also, simply doing things that are part of everyday life such as writing a check at a store, charging a dinner at a restaurant or calling a friend on a cell phone may give thieves an opportunity to commit identity theft.
Personal Data
A thief can profit at a victim's expense by using their Social Security numbers, bank account or credit card numbers and telephone calling cards. Many identity theft victims have reported that scammers have taken money out of their bank or financial accounts. In addition, some theft victims have had their identities taken completely, running up massive debts and committing crimes while using the victim's personal information. A victim's losses can include not only out of pocket financial losses but additional cost associated with restoring his or her reputation in the community and resolving credit problems.
Tips for Combating Identity Theft
- Do not give out personal financial information, especially your social security number, on the phone unless you initiated the call and know who you are talking to. Also, do not give out personal financial information, especially your social security number, on the Internet.
- Shred or tear up financial documents before discarding them.
- Check statements for any unauthorized debits or charges.
- Save all receipts from purchases and services and compare them with the monthly billing statements.
- Immediately report unauthorized debits or charges to Pacific Coast National Bank or your credit card company.
- Never leave receipts at bank machines, bank counters, trash receptacles or unattended gasoline pumps.
- Before revealing any information online, ensure the Web site is securely protected.
- Obtain a free copy of your credit report
- Minimize the number of credit cards and identifying information you carry.
- Store new and cancelled checks in a secure place.
- Be aware of "shoulder surfing" when in public places. Do not display calling card numbers, bank and credit card numbers and other personal data for the view of others.
If you are the victim of identity theft, contact the fraud hotlines of the three major credit bureaus:
Equifax: (800) 525-6285
Experian: (888) EXPERIAN
Trans Union: (800) 680-7289
Free Credit Reports
You can now get their credit report online in seconds. It's fast, easy, and free.
Consumers have the right to order a free copy of their credit report thanks to a federal law known as the Fair and Accurate Credit Transactions Act.
Under terms of this law the three major credit reporting agencies, Equifax, TransUnion and Experian, are each required to provide consumers, upon request, a free copy of their credit report once every 12 months from a centralized source. This comes as a welcome relief to the millions of Americans who have had to pay to review their credit reports in the past.
- The credit reporting agencies have authorized annualcreditreport.com as the official site to distribute the free credit reports. The agencies have stressed that this is the only web site they have endorsed to distribute free annual reports.
- Annualcreditreport.com allows you to view and print one, two or all three of your free credit reports quickly via a secure Internet site.
- You can also request the report by phone (877-322-8228) or by mail (Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281).
- You'll be able to order all three credit reports at one time, or at different times throughout the year. It's your choice.
- Be sure to order from the centralized agency, Annualcreditreport.com. If you go directly to the individual credit reporting agencies, you will be charged unless you fit another criteria for a free report.
Visit the Federal Trade Commission's website for more information on the Fair Credit Reporting Credit Act.
