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Account Opening Scam

How the Scam Works

Criminals are convincing victims to open an account at a credit union or bank, then asks the victim to hand over their debit card, PIN number and other account information so they can commit fraud. In return for opening the account and handing over their debit card, victims are paid an incentive by the criminal. The victim is told that the credit union or bank will get their money back because they're insured.

The most common thing criminals do is deposit a fake check in the victims name and then withdraws the money before the credit union or bank realizes it's a bad check. When the check comes back as fraudulent, the account owner is left owing the financial institution money and is held responsible.

Who Are the Victims Typically?

  • 16-24 year olds
  • The elderly

Protecting Yourself From Fraud

If you release your debit card, PIN, checks or online banking access codes, you are responsible for any fraudulence that occurs. Opening a new account with the intent to sell your debit card, checks or account information is illegal and punishable by law. Avoid falling victim to these scams by following these steps:

  • Don't ever give out your personal banking information. This includes your debit card number, PIN, account number and any online banking login information.
  • If someone offers you money in exchange for your personal financial information, it is most likely a scam. Do not give them any information. These criminals could leave you owning thousands of dollars.

If you believe you have been the victim of fraud on your account with Achieve Financial,     
call us immediately at (860) 828-2790 and contact your local police department.