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If someone is asking you to pay by gift card, it’s a scam.
The simplest way to protect yourself from fraud is to be aware. Recently during the pandemic, there’s been an increase in scammers making fake calls asking consumers to make payments with gift cards. Gifts cards are not to be used to pay the IRS, social security, tech support, a family member in trouble, a member of the military, ransom, to avoid arrest or deportation, or to keep your utilities on. Anyone asking you to do so is a scammer.
Gift Card Fraud increased by 74% during the pandemic. During 2020, there was an estimated 45.9 billion robocalls to consumers – about a 50% increase since 2017. 1
What you can do
If you receive one of these fake calls requesting payment by gift card, the best way to handle it is:
If you did pay a scammer with a gift card:
Gift card fraud can easily be avoided if you take these precautions to protect yourself and stay aware. Stay tuned for our next round of fraud prevention tips.
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Michael Quigley is an experienced Fraud Manager with a demonstrated history of working within the Financial Crime industry as well as a Private Investigator. At Northern, Michael has played an integral role in developing a robust fraud detection and prevention plan for the Bank. Michael holds a bachelor’s degree focused on Criminal Justice from Northeastern University, a certified Anti-Money Laundering Specialist (ACAMS), Chairperson of a local fraud group, and an active member of several local, national, and international Financial Crime groups.
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Northern Bank is a full-service bank dedicated to providing practical, common sense financial solutions to help our customers live their lives and grow their businesses. From deposit products to loans to payment and collections services, we work hands-on with our entrepreneurial customers, both locally and across the country, to provide the financial support they need to realize their personal and business goals. Founded in 1960, Northern Bank has assets of $3.11 billion with 12 locations serving communities throughout Middlesex County. Northern Bank is a Member of the FDIC, and an Equal Housing Lender.
Contact us now to learn more about how Northern Bank can help you realize your goals and dreams.