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Your source for tips to avoid the latest scams.

Scam Alert: Inheritance Windfall
Got a message saying you are the beneficiary of a large inheritance you weren’t expecting? Before you go on a spending spree, be aware that this is likely a scam.

Scam Alert: Zelle Texts
Received a text claiming to be from Champlain National Bank? Before you click on it – remember – it’s probably a scam.

Final Notice Letter about a Home Warranty with the word Scam on top

Scam Alert: Home Warranty Letters
There’s a new scam in your mailbox: a Final Notice letter for a Home Warranty. Don’t be fooled even if it includes your bank’s name – it belongs in the trash.

Handing Over a Bag of Money with the Word Scam Over the Top

Scam Alert: Inheritance Windfall

Who doesn’t dream of winning the lottery or having a wealthy great-aunt you never met pass away and leave her riches to you? While both scenarios are incredibly rare, scammers hope that you’ll bet on divulging your personal information or sending them cash in order to receive an inheritance windfall.

In recent years, scammers have gone as far as posing as government organizations, like the Office of the Comptroller of the Currency (OCC), in a letter, email, or online message, claiming that they are holding funds from an inheritance for you. They may request an upfront payment to claim your money, or sometimes they just phish for your information. Either way, if you bite, the fraudster will start asking for more sensitive data or ask you to transfer a large amount of money, sometimes in bitcoin or a wire transfer, before they can transfer your money to your account.

Even more egregious, after the victim realizes they’ve been tricked, they receive another phone call or message from the scammer, telling them they are from a government financial crimes unit and will work on their behalf to get their money back…that is after you send them $1,500 (or more) to cover the attorney fees.

Scammers know how to play on our emotions for easy money, so always be wary if you receive a message claiming you are owed a large payout. If you are ever unsure, you can always call the organization directly whom the message is supposedly from, by looking up the phone number on their official website and NOT from the message that was sent to you.

Another red flag that a message is fraudulent is if there are spelling and grammatical errors. Always look at the return email address too, which can often be a tip-off for fraud. The best thing you can do if you receive one of these messages is to hit “delete” and stop from becoming another victim.

Text Message with the word Scam

Scam Alert: Zelle Texts

Nothing is scarier than getting a text message claiming you sent someone money when you didn’t. Your brain races: did you accidentally click a button the last time you were looking at your accounts in Online Banking? So, you quickly click on the link in the text to tell the Bank that this wasn’t you, so that they will reverse the payment.

Unfortunately, this is exactly what the scammers are hoping you’ll do. React quickly to the thought of being out several hundred dollars and click on the bogus link they sent you (which looks like it could be legitimate) and then give them your information.

Scammers prey on people’s fears about being out money and know that alerts often come by text. They will send thousands of these text messages out, hoping a few people will make a split-second decision and give them their information.

There are some tell-tale signs that this text is not legitimate. Let’s look closely at the example pictured. There are spelling and grammar errors, including “Pay’ment”, and putting a period between “you. click.” Don’t forget to also look at the email address and the link, which in this case are both fishy, ending with a “.br” and “.php.”

Even if the text doesn’t have as many obvious signs as this one contains, the best course of action is to always call your Bank directly if you aren’t sure, using the phone number found on your statements or on our website: www.champlainbank.com. If you do fall for a scammer’s tricks, remember, never be embarrassed. These scams are designed to trick you. Just make sure you let us know immediately so we can take action and change your password on your accounts.

Final Notice Letter about a Home Warranty

Scam Alert: Home Warranty Letters

If you’ve received a Home Warranty “Final Notice” letter in the mail, you’re not alone. This growing scam tries to trick you into thinking your home warranty is about to expire and that you need to act fast. The letter may even include the name of your bank to make it seem legitimate or have the name of another bank. Scammers send out thousands of these letters knowing it’s likely that many people will have a mortgage with their local bank, panic, and call the number on the letter.

To start, a Home Warranty is not in any way tied to your mortgage and is not mandatory like home insurance when finance your home. Home Warranties are optional contracts that homeowners may purchase to cover certain unexpected home repairs to things like appliances and plumbing. There are several legitimate Home Warranty companies out there and if you are interested in purchasing a plan, you should do your research and compare costs and what is covered.

If you receive one of these letters, the best course of action is to just throw it away! If you are ever in any doubt about whether any piece of communication is really from Champlain National Bank, just call your local branch and not the phone number found on the letter, email, or text. Remember, we are here to help you avoid becoming a scammer’s next victim, so never hesitate to call us.