A scam has surfaced encouraging consumers to use Federal Reserve Bank routing numbers and their social security numbers to pay bills, make online purchases, payoff student loans, and conduct other types of transactions. The scam involves convincing consumers there are "secret accounts, "Social Security Trust Accounts" or "Treasury Direct Accounts" that can be used to make payments. Videos, texts, emails, websites, and phone calls describe how to use Federal Reserve Bank numbers to pay bills and conduct other online transactions. Please note that Federal Reserve Banks only provide banking services to financial institutions, not consumers. Transactions will be denied for consumers attempting to pay bills using a Federal Reserve Bank number. In addition to bills remaining unpaid, late fees may be assessed.
Report any communication you receive regarding this scam to the FTC.
Market USA will never ask for your private and confidential information through email.
The Federal Trade Commission has warned of phishing scams involving credit union brands. In all phishing scams, the scammer poses as a legitimate business or service provider where the victim may have familiarity. In this case, they claim to represent Market USA. The fraudsters use social engineering, capitalizing on social norms to inspire trust and manipulate unsuspecting people.
The scammers usually communicate via email, but they may also use mediums like phone calls, text messages or social media. They convince the victims of their legitimacy by providing personal details about the victim that have been found online.
Next, the victim is lured into providing more information by the promise of compensation, or by claiming the victim needs to verify or update their account. Once the scammer has the information, they can empty the victim's accounts, track their online activity and/or steal their identity.
Alternately, the scammer may lead a victim into clicking on links that are embedded with spyware. The links go to a website that look just like Market USA's, but is actually bogus. Since the victim thinks they're browsing Market USA's site, they generally won't hesitate to input usernames and passwords.
You can recognize these messages as scams by remembering that we will never ask for sensitive information through insecure channels.
Unfortunately, hundreds of people are falling prey to phishing scams. Don't be the next victim! Here are four tips to help you protect yourself:
Similarly, the settings on all of your social media outlets should be as private as possible. Finally, all suspicious email addresses should be added to your computer's blacklist as quickly as possible. With good precautions and steps toward prevention, you can keep yourself safe from phishing scams!
September 2017 - Equifax, one of the nation's three major credit reporting agencies, reported in September a massive data breach lasting several months, in which 143 million Americans may have had their personal information exposed. Here at Market USA, we're ready to help by providing you with clear instructions on some steps you can take to protect your identity.
The protective program includes the following features: Equifax credit report copies; three-bureau credit file monitoring, providing automated alerts of any major changes in your credit reports; Equifax credit report lock, preventing third parties from accessing your Equifax report; Social Security number monitoring, which performs online searches of suspicious websites that may list your Social Security number; and $1 million identity theft insurance, which covers some expenses in the event of a stolen identity
If your information has been exposed, consider placing a credit freeze on your record at the three major credit bureaus (Equifax, Experian and TransUnion). This will make it more difficult for someone to open a new account in your name, though it won't stop a thief from making charges to your existing accounts. Or, instead of a freeze, you can place a fraud alert on your files, warning creditors that you may have been victimized by identity theft. This alerts them to verify if someone seeking credit in your name is really you. A fraud alert expires after 90 days; you have the option to place another fraud alert at expiration.
Even if your information was not exposed by the breach, it's always a good idea to monitor your credit card and financial accounts for charges you don't recognize. Visit annualcreditreport.com and follow instructions to obtain free credit reports.
If your Social Security number was accessed in the Equifax breach, it's best to file your taxes as soon as you possibly can to avoid refund theft come tax time.
April 2017 - Consumers Should be Vigilant and Avoid Depositing Checks from Unknown Parties
Consumers should be on the lookout for fake check scams, the National Credit Union Administration warned today after receiving numerous inquiries from consumers.
There are many versions of a fake check scam. However, the result is the same. Scammers lure consumers into depositing a cashier's check, money order, or other checking instrument from someone they don't know and wiring or sending money to the scammers. A check may take considerably longer to clear the financial institution that issue it before the funds can be collected. It could take days or even weeks to discover that the deposited check was fraudulent.
June 2016 - [WARNING] The FBI issued an alert about a new scam you need to be aware of. This is an email you receive which threatens to make public all your personal, and sometimes very private information unless you pay a ransom in an electronic currency called Bitcoin.
It is easy to get intimidated by threats like this, and you might be pushed into trying to prevent possible negative consequences. However, do not fall for pressure tactics like this, because if you do, your data will be sold to other scammers who will continue to haunt you.
If you receive email extortion demands, do not answer, and do not pay anything. Report this scam to the FBI's Internet Crime Complaint Center (IC3) instead. Here is their website: https://www.ic3.gov/default.aspx . Remember... Always Think Before You Click!
You may be aware of the security breach of 1.2 billion user names and passwords by Russian hackers. Security of our members is top priority, and we have strong measures in place to protect the credit union from outside threats. Due to these measures, Online Banking was not affected by this breach.
Although Market USA was not impacted by this breach, we would like to take this time to review the steps that you can take to safeguard your passwords:
April 2014 - This week, a computer security vulnerability referred to as Heartbleed has been making news headlines. Market USA does not use the OpenSSL cryptographic software you are hearing about and is not affected by the security issue. We do encourage you to be mindful of your security when using any online service. You should not reuse passwords and security questions between different sites. If you use the same security information for different online services we recommend making changes to protect yourself.
January 2014 - Market USA has received the following announcement from NCUA (National Credit Union Administration), warning of attempts by unknown individuals of obtaining personal information. Consumers Targeted by Vishing Scam Should Call The NCUA Agency Hotline
ALEXANDRIA, Va. (Jan. 21, 2014) - The National Credit Union Administration warned consumers to beware of a new telephone fraud, known as a "vishing" scheme, that is using the agency's name in an attempt to obtain personal financial information.
Several credit union members (not necessarily Market USA members) have been contacted by an automated phone call claiming to be from NCUA and notifying consumers their debit cards have been compromised. The call then asks the receiver to follow prompts, which request personal information, including sensitive financial data and personal identification information.
Anyone contacted by this so-called "vishing" scheme should immediately contact NCUA's Consumer Assistance Center Hotline at 800-755-1030 or by email at firstname.lastname@example.org to report the scam. Operators answer calls Monday through Friday between 8 a.m. and 5 p.m. Eastern.