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Account Takeover Fraud TrendWe 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.
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:
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Tips to protect yourself from identity theftIdentity 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.
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