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Avoid Mobile Deposit Scams

With tax season upon us, fraudsters are out in full swing.  Customers are falling for a new form of fraud known as a mule scam. People are recruited through Facebook or social media through what appears to be work-at-home jobs or other opportunities where the customer is lured as a money transfer agent. The customer is told they will receive deposits into their account with instructions on withdrawing the funds and forwarding money to a designated contact person. They are told they will receive a percentage of the proceeds at commission.
 
The customer is next instructed to provide online/mobile banking usernames and passwords to the contact person. The action will allow the fraudster to log in to the accounts to access mobile remote check deposit services to deposit their checks. The checks are then are then returned after the holds expire and the customer has already removed the funds. Most people who fall victim to this scam have few assets to cover their negative balance.
 
PS Bank as always, takes great precaution in preventing against schemes such as these but all customers should be aware that fraudsters come up with new schemes each and every day. If it does not feel right, odds are it isn’t!  If it sounds too good to be true, it probably is!  Please alert us to any such potential scams that you may feel are being perpetrated by contacting us as soon as possible at (866)746-1011 or ebanking@psbanking.com with as many details as possible. Thank you and stay alert!

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