Citizens Need To Beware Of Y2k Bank Scam

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With all the hype over the coming millennium, there are bound to be scam artists that prey on people's fears. This is written to inform you of an old telephone scam with a Y2K twist that has already claimed several victims.

The process begins with a telephone call to an individual victim. The caller identifies themselves as an employee of the victim's bank and proceeds to tell them the bank is having difficulty meeting Y2K requirements. The caller goes on to say that in order to protect the victim's funds, they need to transfer them to a "special" bond account.

The caller then asks for the victim's account numbers and requests a verbal OK to make the funds transfer. The end result is quite obvious ... the victim gives out private account information on their accounts and the money disappears.

To avoid these types of scams, there are some basic rules to follow:

1. Always be wary of anyone calling and asking information about your personal bank accounts.

2. Never give out account information to anyone you do not know and personally trust.

3. Contact your bank immediately if you receive suspicious telephone calls about your accounts.

By practicing the above, it is highly unlikely a person will ever become the "victim."

Patrick Willis
Branch Manager
Founders Bank of Payson

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