Important Fraud Alert

Recently, people in our area have reported receiving seemingly legitimate phone calls (or robo-calls) from their banks about “potentially fraudulent transactions.”

Fraudsters may even trigger a 6-digit confirmation code sent to an unsuspecting victim by text, then ask the victim to provide that code to them over the phone. Don’t fall for it!

This type of call is a “fake fraud alert”  – an attempt to gain your personal banking information. These fraud attempts are on the rise throughout our state and region, and we urge you to be careful. It’s easy to make a mistake, because the fraudulent call, text or email often looks or sounds “official,” and may use the Bank’s name, logo or CallerID phone number.

In this latest scheme:

  • People receive seemingly legitimate phone calls (or robo-calls) — purportedly from their bank or a “fraud center”— regarding potentially fraudulent transactions
  • A robo-call may ask you to verify transactions before being connected with a scammer.
  • Imposters will identify themselves as an actual employee of the banks, Fraud Center representative, or a Fraud Management analyst.
  • The fraudster tells the customer that potentially fraudulent transactions have posted to their account and they need to verify the transactions.
  • The caller lists fake transactions which the customer then verifies as fraud.
  • The fraudster verifies the last four of the customer’s card, then uses an online banking “forgot password” function to trigger a text message to the customer containing a 6-digit confirmation code.
  • The fraudster then asks for that 6-digit code — which then allows him or her to log into your online banking account.
  • In the past, customer debit cards have been affected and the fraudster tells the customer they will receive an “example text” of the attempted fraudulent transactions but instructs them not to respond. The example text they are referring to is an actual Fraud Center alert generated as a result of the fraudulent transactions the fraudster is attempting or has completed.

These are all fraudulent tactics designed to create an appearance of legitimacy. Don’t fall for them.

If you believe you provided personal banking information to someone who contacted you claiming to be from our Bank, please notify us immediately so that we can assist you. You can call our SBW Customer Support line at 1-877-WALPOLE (877-925-7653) during business hours — or email us or use the Contact Us form on our website.

As a reminder, Savings Bank of Walpole will NEVER call, text or email you to ask for your personal information. If you are ever contacted via phone, text or email and asked to provide your account numbers, PINs, Debit Card Numbers, or online banking log-in credentials, do not comply with the request. Instead, verify that you are speaking with an authorized bank representative.

  • NEVER PROVIDE PERSONAL INFORMATION OVER THE PHONE unless you initiate the call through a trusted, verified phone number.
  • VALIDATE CALLERS. Hang up and return the call at a trusted phone number, such as one posted on the organization’s verified website.

Savings Bank of Walpole is diligent about implementing security measures designed to help protect our customers. Your personal financial safety is of the utmost importance to us. Please be careful to protect your personal information.