Community Bankers' Advisor

i  July - August, 2003

Page 4 


Telemarketing Scams

Banks would do well to inform customers that the telephone is becoming a primary tool for many financial crimes. By following some of the simple suggestions listed below, your customers may be able to save their hard-earned money and cause less suffering for the financial institution as well. Financial institutions should advise customers to protect themselves by providing the following advice:

*Do not answer the phone by stating the name of your family.
*If a caller inquires "To whom am I speaking?" respond with a question such as "Who are you calling?"
*Remember - "If it sounds too good to be true, it must be."

 

*Do not give your telephone number in response to wrong - number telephone calls. If a caller asks "What number did I reach?" respond with another question, such as "What number are you calling?"
*Be wary of repetitive wrong-number calls
*Verify all telephone calls from strangers who claim you have won something. Such telephone calls may be a setup for asking survey-type questions in an attempt to gain personal information.
*Never give a stranger your credit card number or your checking account number over the phone. Such financial information, in the wrong hands, can wreak havoc upon you and your account!

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DISCLAIMER
COMMUNITY BANKERS' ADVISOR is designed to share ideas and developments related to the field of banking. It is not intended as legal advice and nothing in the COMMUNITY BANKERS' ADVISOR should be relied upon as legal advice in any particular matter. If legal advice or other expert assistance is needed, the services of competent, professional counsel should be sought.

Gold Bard

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