What to look out for
In most cases of employee direct deposit fraud, fictitious instructions are sent via email to a company's Human Resources Department, with the sender purporting to be a company employee. The email requests that future direct deposits (or a portion of future direct deposits) be sent to a new bank. In many cases, the sender and content of the email appear legitimate. Once the funds are routed to the scammer's account, the company is on the hook for replacing the stolen funds and the employee faces a late paycheck. Most scammers pretend to be high level employees and are typically very brief, polite and slightly urgent. Most of the time they will also ask for this information to be changed before the next paycheck.
Fraudsters may request remote access to your computer and have you login to your own online banking or a fake site showing there was an error. They may transfer your own funds from one of our other accounts to make it look like it was an error or show fake transactions that didn’t really occur. If someone sends you a link or wants to gain remote access to your computer or electronic device this is likely a scam and you should stop speaking with the individual and contact your Bank at a known number.
Tell tale signals that the email may be illegitimate:
- Misspellings
- Grammatical Errors
- A heightened sense of urgency
- Request for personal identifiable information
- Threats with consequences
What to do if you receive a direct deposit request via email
Verify all direct deposit requests by phone before processing any changes. A quick phone call using an internal extension or the phone number you have on file (not the phone number provided in the email) can help you avoid a financial loss. Some companies require that all direct deposit changes must be performed in writing and in person.
Direct Deposit Scam
Fraudsters may request remote access to your computer and have you login to your own online banking or a fake site showing there was an error. They may transfer your own funds from one of our other accounts to make it look like it was an error or show fake transactions that didn’t really occur. If someone sends you a link or wants to gain remote access to your computer or electronic device this is likely a scam and you should stop speaking with the individual and contact your Bank at a known number.
What to do if you think you have been scammed
If you think you have been the victim of employee direct deposit fraud, notify your payroll company and contact us immediately at 413.568.1911 or 800.995.5734 We also recommend contacting your police department to file a report.