FDIC Digital Sign, using the official FDIC wordmark. This digital sign indicates the deposit institution is backed by the full faith and credit of the US government.
FDIC Digital Sign, using the official FDIC wordmark. This digital sign indicates the deposit institution is backed by the full faith and credit of the US government.

Beware of Gift Card Scams

Cybersecurity

There are all types of common scams being perpetrated and many share a common wrinkle  – payment using a gift card. The caller threatens the phone recipient with back taxes and arrest or some other frightening message and threat. Then demands payment using prepaid gift cards. A classic illustration of the scam from an issue of the AARP Bulletin goes like this:

  • Scammer pretends to be from IRS, threatens jail
  • Requests you buy large denomination gift card to settle debt, asks for code on card to expedite payment
  • Sends code to “washer” who transfers amount to a store app and buys smaller denominations at a retailer
  • The cards are discarded and the codes are sold online
  • All of this can be done in less than an hour and is untraceable

No legitimate organization will ask you to pay them with a gift card! If you are unsure if something is a scam, please call the bank at 877-508-8455.