Victory State Bank Warns of Lottery Scams


Victory State Bank Warns of Lottery Scams



STATEN ISLAND, N.Y. – With all the recent news coverage of huge lottery windfalls, the folks at Victory State Bank understand how exciting it can be to receive news that you are a winner.

The lure of a winning a large amount of money is powerful, and this is why Victory State Bank wants consumers and business owner to beware of scams involving lottery or sweepstakes prizes.

If you’re contacted by someone claiming to be a government official asking you to pay money to collect your “winnings,” remember the following advice from the Federal Trade Commission:

  • Don’t pay for a prize. Legitimate sweepstakes don’t require you to pay insurance, taxes, or shipping charges to collect your prize. And companies, including Lloyd’s of London, don’t insure delivery of sweepstakes winnings.
  • Did you enter a sweepstakes or lottery? You can't win a prize in a sweepstakes you didn't enter. And keep in mind, it's illegal to play a foreign lottery.
  • Con artists use official-sounding names to make you trust them. It’s illegal for any promoter to lie about an affiliation with — or an endorsement by — a government agency or any other well-known organization. No matter how convincing their story — or their stationary — they're lying. No legitimate government official will ask you to send money to collect a prize.
  • Don’t wire money. Scammers often pressure people into wiring money. That's because wiring money is like sending cash: once it’s gone, you can’t trace it or get it back. Never deposit a “winnings” check and wire money back. 

The check will turn out to be a fake and you will owe the bank any money you withdrew. Resist any requests to tell your account information, or to send a check or money order by overnight delivery or courier.

Con artists recommend these services so they can get your money before you realize you’ve been cheated.

  • Put your number on the National Do Not Call Registry. If you want to reduce the number of legitimate telemarketing calls you get, register your phone number at donotcall.gov. Generally, scammers don't respect the Registry — or pay to scrub their lists against it.


About Victory State Bank

VSB Bancorp, Inc. (NASDAQ: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com

 

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