Fraud Protection

Anyone can be susceptible to fraudsters.  However, seniors in particular are often specifically targeted. Amboy takes these issues seriously, and we want you to be knowledgeable and prepared.  Discover our Family Banking or Enhanced Digital Security options that allow you to pick from a selction of products and services that can increase your convenience and keep you safe. We also hold seminars on this topic, and offer the information below as resource for you. Our Safe Banking for Seniors page also details many scams that you should watch out for.
 

• Imposter Scam: Victims are told that in exchange for their personal information they can receive a free DNA test provided by Medicare. Medicare does not provide such a service, and will rarely, if ever, initiate a phone call.  
• Lottery or Sweepstakes: Victims are told they have won the lottery, but will need to pay a fee to claim prizes. Or, someone approaches the victim claiming to have a winning lottery ticket, asking for money in exchange for the ticket
• IRS/Social Security Scam: Victims are told they owe money to the government. They are threatened by government impersonators with criminal charges if they do not wire balance owed within a very short amount of time—usually just a couple of hours
• Home Repair: Victims are required to pay, in advance, for unnecessary work and materials, or they are charged for work that didn’t take place. Often, if work is completed, victims are required to pay an unreasonable fee for services
• Charitable Giving: Victims are convinced to “gift” money to a non-existent charity
• Telemarketing Scams: Victims pay for a product or service that will never be delivered
• Utility/Alarm Service Person: Posing as trusted professionals, fraudsters gain entry to victim’s home. One fraudster distracts the victim, while the other steals valuables or financial documents.
• Grandparent Scam: Victim receives a call that a family member has been injured and needs money for medically necessary transport. Another variant of this scam includes claims that a younger family member has been arrested and will be held until money is wired to a specified location
• Investment Scams: Included in these scams are advanced fee schemes, offshore investment opportunities, Ponzi/pyramid schemes, prime bank scams and commodity scams.

While Amboy takes many precautions to keep your data safe, it is also important that our clients do so, as well. Discover our Family Banking or Enhanced Digital Security options that allow you to pick from a selction of products and services that can increase your convenience and keep you safe. Below are some tips that can help you stay safe.
 

• Set up automatic alerts within Digital Banking
• If it sounds too good to be true, it probably isn’t true
• Keep personal information private
• Shred bank statements, old credit & debit cards, anything with personal information
• Check your credit report once a year
• Lock up your checkbook
• Establish a relationship with personnel at your branch
• Determine now who will handle your financial affairs when you need assistance
• Get a Power of Attorney naming a trusted friend, family member, or attorney
• Have a trusted individual check financial decisions
• Never pay large sums with cash. Use checks or credit cards to create a paper trail

As we age, it often becomes important to lean on people that we can truly trust. When it comes to decisions regarding your health and finances, who you select as a trusted advisor is of paramount importance. Often, seniors select their spouse and/or children as their main trusted source, and for many, this works out well. But if you do not have family or you feel that they may not have your best interests at heart, you may want to seek out an impartial party to assist you, perhaps an attorney or trust department of a bank.

At Amboy Bank, you are able to add others as joint on your accounts, or you can also add someone as a Trusted Contact.  A Trusted Contact is someone who does not have access to your accounts, but is there for Amboy to contact if our staff feels that you are exhibiting irregular behavior or are being scammed. Discover our Family Banking options that allow you to pick from a selction of products and services that can increase your convenience and keep you safe.