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Fraud Prevention & Protection

Phoenixville Federal takes extraordinary security measures to protect our customers and will alert you immediately if we detect fraudulent activity on your account. In the meantime, take these steps to protect yourself.


Account Takeover Fraud Trend

We have been notified of account takeover fraud via the impersonation of fraud prevention tools. These scams use sophisticated methods combined with modern day technologies to deceive cardholders into revealing critical information and disregarding legitimate fraud warnings.

Account takeover fraud occurs when a scammer has obtained sufficient credentials to pose as the cardholder to financial institutions. They can then execute changes to an account or card-level settings that assist in the commission of fraud, including demographic changes like phone numbers, emails, passcodes etc., increased limits, PIN changes, and travel exemptions that suppress normal fraud monitoring. If you feel you have been a victim of fraud, or would like more information regarding this matter, please contact Chuck Benz, SVP / Retail Operations / Security Officer.


Take these steps to protect yourself against fraud.

  • Throw away any offer that asks you to pay for a prize or a gift.
  • Resist the urge to enter foreign lotteries. It’s illegal to play a foreign lottery through the mail or the telephone.
  • If you are selling something, don’t accept a check for more than the selling price, no matter how tempting the offer.
  • As a seller, you can suggest an alternative way for the buyer to pay, like an escrow service or online payment service.
  • If you accept payment by check, ask for a check drawn on a local financial institution.
  • If the buyer insists that you wire back funds, end the transaction immediately.

If you think you’ve been targeted by a counterfeit check scam or other fraudulent activity on your account contact Phoenixville Federal immediately and report it to the following agencies:

  • The Federal Trade Commission ( or 1-877-FTC-HELP (1-877-382-4357).
  • The U.S. Postal Inspection Service or call your local post office.
  • Your state or local consumer protection agencies; visit for a list of state Attorneys General.

Tips to protect yourself from identity theft

Identity theft occurs when someone uses your personally identifying information, like your name, Social Security number, or credit card number, without your permission, to commit fraud or other crimes. For your protection, you should always carefully monitor your business and personal bank accounts for fraudulent activity. If you ever see anything unusual, immediately contact Phoenixville Federal.

  • Don’t give your Social Security number over the phone unless it’s absolutely necessary.
  • Be wary of giving out other identifying information, such as birthplace and mother’s maiden name unless you are sure of the person requesting the information.
  • If possible, lock your mailbox or empty it as soon as possible after mail delivery.
  • Put outgoing mail in a secure U.S. Postal Service box or take them to the post office.
  • Annually check your credit report for unauthorized activity at the three national credit bureaus (Experian, Equifax, and TransUnion).
  • Use a paper shredder to dispose of old financial records and any other documents that may contain identifying information.
  • Don’t leave behind receipts that have credit or debit card numbers at ATMs, stores or gas pumps.
  • Don’t put credit card or personal information on a website unless you know that it is secure.
  • Always keep your digital information secure.


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