Spotlight: Check Fraud
Check fraud is everywhere, and it can have devastating results for those not paying attention to their statements. Whether from compromised account information or simple mail theft, fraudsters use every method available to steal checks, often changing the payee or amount using a chemical wash – a tactic called check washing.
A few common types of check fraud include:
- Forged checks – when a check is signed without your permission
- Altered checks – editing the dollar amount or payee
- Counterfeit checks – fake checks made to look real using stolen information
Using a gel ink pen can help prevent check fraud. The ink soaks into the check and holds up against washing and chemical tampering much better than regular ballpoint pens. And good news – The Village Bank is now offering free gel pens at all branch locations!
Some tips to help keep your account safe:
- Use a secure USPS location to mail checks
- Use envelopes with privacy lining
- Store your checks in a secure place
- Shred old or unused checks
- Regularly review check images in your bank statements for suspicious activity
Trending: Synthetic ID Theft
When a fraudster creates a fake identity using a combination of real and made-up information, it’s called synthetic ID theft. They often use a real Social Security number paired with a fake name, date of birth, address, email, and phone number. This blended identity is then used to open new accounts in the name of the fake person.
This type of fraud is hard to catch. Victims often don’t realize their Social Security number has been compromised until long after the theft has occurred. By then their credit may already have suffered through no fault of their own.
How to protect yourself from synthetic identity theft:
- Never share your Social Security number unless absolutely necessary
- Check your credit reports regularly
- Keep an eye out for credit inquiries you were not expecting
- Shred sensitive documents you no longer need
- Use strong passwords to protect your information and change them regularly
Trending: Investment Scams
Investment scams are on the rise, and scammers are getting more creative every day. They might reach out on social media, through email, or even pretend to be someone you know. Their goal? To lure you in with promises of huge returns, then disappear with your money.
Social media has become a common tool for fraudsters, but it’s not the only one. You might see a post promising a huge return, get a direct message from someone claiming to be a financial advisor (or even a friend), or spot a flashy ad about a “guaranteed” crypto opportunity. These scams often look convincing—and that’s the danger.
Once they get your interest, they’ll usually:
- Ask for money up front
- Request personal or banking information
- Send links to a fake website that looks legitimate
Signs to watch out for:
- Ads or messages claiming “limited time offer”
- Generic messages with poor grammar or spelling
- Promises of guaranteed or high returns
How to protect yourself:
- Don’t take investment advice from strangers on social media
- Always do your research before investing
- Never share personal or financial information through direct messages
- Take your time—do your research, and if something feels off, trust your gut
June 15th is World Elder Abuse Awareness Day!
It’s a day to shine a light on the abuse, neglect, and financial exploitation that too many older adults face every day. Raising awareness is the first step in preventing it—and we all play a part in protecting the seniors in our community.
Want to learn more about how you can help? Stop by your local branch for resources, tips, and information on how to recognize the warning signs and report elder abuse.
Let’s stand together to protect and support older adults—not just on June 15th, but every day.
If you believe you have been the victim of fraud, contact our Customer Care Center immediately at (617) 969-4300 and report it to the FTC at ReportFraud.ftc.gov.