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OIG: Fraud Prevention
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Please be aware of the following fraud scams.</p> <p><strong>Scammers Claiming to Be From a Bank, Credit Card Company, and the CFPB Are Trying to Collect Financial and Personal Information</strong><br /> We have received reports of scams trying to collect financial or personal information, including bank or credit card information and Social Security numbers. Fraudsters pretend to be from a bank or credit card company and tell their target that someone has tried to open a credit card in their name or attempted to make a purchase using their account. When the person states that the activity was not theirs, they are transferred to a CFPB imposter who will supposedly cancel their cards and take steps to protect them.</p> <p>Please be advised that the CFPB will never contact you and ask you for money or to provide sensitive information. If you receive a phone call, email, text message, letter, social media message, or other communication from someone claiming to be from the CFPB asking you for money—even if this person has personal data about you, like your Social Security number—do not provide them with any more information. The quickest way to verify whether a communication is from the CFPB is to contact the CFPB consumer call center at 855-411-2372 between 8:00 a.m. and 8:00 p.m. ET, Monday through Friday.</p> <p>If you wish to report these or other scams that fraudulently use the CFPB name, please contact the <a href="https://oig.federalreserve.gov/hotline.htm">OIG Hotline</a>. Scams using the name of another agency should be referred to that agency's office of inspector general.</p> <p><strong>Fraudulent Emails Claiming to Be From Federal Reserve Consumer Help to Banks and Credit Unions</strong><br /> We have received reports of fraudulent emails circulating to banks and credit unions claiming to be from Federal Reserve Consumer Help (FRCH) regarding complaints filed by customers against the bank or credit union. FRCH has confirmed that these messages are fraudulent.</p> <p>These emails are spoofed, or forged, and use several tricks—such as using an email account that seems to be a legitimate Federal Reserve email account and unauthorized use of the agency's name—to appear legitimate. The email may prompt you to open links to obtain further information regarding the supposed complaint.</p> <p>Please be advised that any message you receive appearing to be from FRCH or the Board or Federal Reserve System requesting you to open a link for further information may be a fraudulent phishing attempt by scammers. We advise you to not click these links without verifying their legitimacy with your supervising <a href="https://www.federalreserve.gov/consumerscommunities/comm-dev-system-map.htm" target="_blank">Federal Reserve Bank</a>.</p> <p>If you wish to report these or other scams that fraudulently use the name of the Federal Reserve, please contact the <a href="https://oig.federalreserve.gov/hotline.htm" target="_self">OIG Hotline</a>. Scams using the name of another agency should be referred to that agency's office of inspector general.</p> <p><strong>Fraudulent Emails Claiming to Be From the Federal Reserve and Delivery Companies</strong><br /> We have received reports of fraudulent emails claiming to be from the Federal Reserve, the Federal Reserve Bank of New York, and various delivery companies such as UPS.</p> <p>The emails are spoofed, or forged, so they appear to be from a legitimate Federal Reserve email account. The individuals sending the emails claim to be in possession of ATM cards belonging to Federal Reserve officials, including the current and former chairs. They claim that you can receive the cards after paying certain fees by way of gift cards. They also request personally identifiable information, such as your name, address, and copies of an identification card.</p> <p>Any message from the Federal Reserve or another agency stating that you are the beneficiary of another individual's ATM card is fraudulent. And remember, any request that you transfer money before you can accept a payment is likely to be fraudulent. Do not provide fraudsters with any personal information, and ignore future correspondence from them.</p> <p>If you wish to report these or other scams fraudulently using the name of the Federal Reserve, please contact the <a href="https://oig.federalreserve.gov/hotline.htm">OIG Hotline</a>. You can also learn more from the <a href="https://www.newyorkfed.org/banking/frscams.html" target="_blank">Federal Reserve Bank of New York</a>. Scams using the name of another agency should be referred to that agency's office of inspector general.</p> <p><strong>The Federal Reserve Is Not Involved With G-Coin Cryptocurrency</strong><br /> We have received reports of an individual fraudulently claiming that their G-coin cryptocurrency project is affiliated with the Federal Reserve. G-coins are purported to be digital tokens backed by physical gold.</p> <p>The Federal Reserve is in no way associated with any projects involving G-coin cryptocurrency. Any statements claiming the Federal Reserve is involved with foreign entities and cryptocurrency ventures are fraudulent.</p> <p>Although we do not dispense legal advice or act as legal representatives for private citizens, we advise caution if you decide to engage in these ventures.</p> <p>If you wish to report these or other scams fraudulently using the name of the Federal Reserve, please contact the <a href="https://oig.federalreserve.gov/hotline.htm">OIG Hotline</a>. You can also learn more about scams from the <a href="https://www.newyorkfed.org/banking/frscams.html" target="_blank">Federal Reserve Bank of New York</a>. Scams using the name of another federal agency should be referred to that agency's office of inspector general.</p> <p><strong>Fraudulent Emails Claiming to Be From the Federal Reserve or Other Federal Agencies</strong><br /> We have received reports of fraudulent emails and documents claiming to be from the Federal Reserve, the Federal Deposit Insurance Corporation, or other agencies such as the U.S. Securities and Exchange Commission and the U.S. Department of Homeland Security.</p> <p>The emails use several tricks to appear legitimate: agency letterhead and logos, unauthorized signatures or names of agency staff, and references to various court cases. The emails will cite a settlement or similar financial incentive to gain your personally identifiable or financial information. In some cases, the emails will request that you transfer money before you can accept a fictitious payment.</p> <p>Please be advised that any message you receive from the Federal Reserve or another agency stating that you are the beneficiary of a large sum of money is fraudulent. We advise you to not provide these fraudsters with any personal information and to ignore future correspondence from them.</p> <p>If you wish to report these or other scams fraudulently using the name of the Federal Reserve, please contact the <a href="https://oig.federalreserve.gov/hotline.htm" target="_self">OIG Hotline</a>. You can also learn more from the <a href="https://www.newyorkfed.org/banking/frscams.html" target="_blank">Federal Reserve Bank of New York</a>. Scams using the name of another agency should be referred to that agency's office of inspector general.</p> <p><strong>Fraudulent Phone Calls Claiming to Be From the Office of Inspector General</strong><br /> We have received reports of fraudulent phone calls that have the appearance of being from the OIG. These phone calls appear to be from OIG employees (even the inspector general or deputy inspector general) and state that you are the subject of an investigation. If you receive a call from the OIG from someone making aggressive threats and asking for payment, <a href="https://www.ftccomplaintassistant.gov/#crnt&panel1-1" target="_blank">report the call</a>; it is a scam. Do not provide personal information to the caller.</p> <p>Here's what you need to know to protect yourself against scams like these:</p> <ul class="list"> <li>Our office investigates fraud, waste, abuse, and mismanagement relating to Board and CFPB programs and operations.</li> <li>We will never call or email the general public seeking money, personal information (such as bank account information, credit and debit card numbers, social security numbers, or passwords), or donations or to request that individuals enter into any financial transactions.</li> <li>We do not call and leave prerecorded, urgent messages asking for a call back.</li> <li>We will never threaten you.</li> </ul> <p>We urge the public to remain alert to fraudulent scams involving phone calls purporting to be from the agency. If you receive such a call, please report the matter to the Federal Trade Commission using its <a href="https://www.ftccomplaintassistant.gov/" target="_blank">FTC Complaint Assistant</a>. If you wish to report these or other scams fraudulently using the name of the OIG, please contact the <a href="http://oig.federalreserve.gov/hotline.htm" target="_self">OIG Hotline</a>.</p> <p><strong>Fraudulent Emails Claiming to Be From the Federal Reserve</strong><br /> We are aware of the circulation of fraudulent emails claiming to be from the Federal Reserve. In many cases, these emails appear to use a <em>federalreserve.gov</em> or another Federal Reserve–affiliated entity email address to create the appearance of legitimacy. These emails may reference the rejection of a wire transfer initiated by the recipient and ask the individual to click on a link to obtain additional information, or the emails may reference funds that the recipient is entitled to receive as the beneficiary of a large sum of money, and to receive such payment, the recipient must provide personal identifying information to the Federal Reserve–affiliated entity.</p> <p>While the sophistication of these types of emails may make them appear legitimate, they are not. As with all spam or phishing emails purporting to be from the Federal Reserve, they may contain malicious code that could infect your computer, or they may be an attempt by an illegitimate entity to obtain personal or financial information.</p> <p>We strongly advise recipients of these suspicious emails not to click on any links or attachments. If you wish to report these or other scams fraudulently using the name of the Federal Reserve, please contact the <a href="https://oig.federalreserve.gov/hotline.htm">OIG </a><a href="http://oig.federalreserve.gov/hotline.htm" target="_self" title="Hotline Landing">Hotline</a>.</p> <p><a href="http://www.ny.frb.org/banking/frscams.html" target="_blank">More information on frauds and scams that use the name of the Federal Reserve</a> is available online.</p> </div><!-- Closes article --> </div><!-- Closes content container --> <!-- BEGIN NEW AREA --> <div class="right-column"> <h3 class="label">RELATED INFORMATION</h3> <p> <strong>Investigations FAQs</strong> </p> <a href="/faq-about-oig.htm#investigations">See common Investigations questions and answers.</a> <p><strong><em>Interest</em></strong><br /> <a href="/documents/interest-magazine.pdf"><font color="#0066cc">Investigations magazine</font></a></p> <a href="/faq-about-oig.htm"></a> </div> <!-- END NEW AREA --> </div><!-- Closes container landing-page --> <span id="mobile-placeholder"></span> <div class="wrapper-footer"> <!-- --> <div class="footer container" id="body-footer"> <div class="container about-fed-cfpb"> <h3 class="label">LINKS TO THE BOARD AND THE CFPB</h3> <ul> <li class="fed-seal"><a href="//www.federalreserve.gov/" target="_blank" title="Board of Governors">Board of Governors</a></li> <li class="cfpb-logo"><a href="http://www.consumerfinance.gov/" target="_blank" title="Consumer Financial Protection Bureau">Consumer Financial Protection Bureau</a></li> </ul> </div><!-- Closes about-fed-cfpb --><div class="container related-sites"> <h3 class="label">RELATED SITES AND RESOURCES</h3> <ul> <li><a href="http://www.gao.gov/" target="_blank">U.S. Government Accountability Office</a></li><li><a href="http://www.ignet.gov/" target="_blank">Council of the Inspectors General on Integrity and Efficiency</a></li><li><a href="http://www.treasury.gov/about/organizational-structure/ig/Pages/Council-of-Inspectors-General-on-Financial-Oversight.aspx" target="_blank">Council of Inspectors General on Financial Oversight</a></li><li><a href="https://oversight.gov/" target="_blank">Oversight.gov</a></li> </ul> <ul > <li><a href="/sitemap.htm">Sitemap</a></li><li><a href="//www.federalreserve.gov/accessibility.htm" target="_blank">Accessibility</a></li><li><a href="//www.federalreserve.gov/disclaimer.htm" target="_blank">Disclaimer</a></li><li><a href="//www.federalreserve.gov/privacy.htm" target="_blank">Privacy</a></li> </ul> <ul > <li><a href="//www.federalreserve.gov/foia/about_foia.htm" target="_blank">FOIA</a></li> <li><a href="//www.federalreserve.gov/eeo.htm" target="_blank">No Fear Act Data</a></li> <li><a href="http://www.usa.gov/" target="_blank"><img src="/gifjpg/usagov_logo_color_notag.gif" title="usa.gov logo: USA.gov is the U.S. government's official web portal to all federal, state, and local government web resources and services" alt="usa.gov logo: USA.gov is the U.S. government's official web portal to all federal, state, and local government web resources and services" style="width: 75px; 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