Avoid Shady Deals by Using Consumer-Safety Tactics




With your financial security in mind, Victory State Bank is reminding consumers and small business owners to remain diligent in combating fraud.

To better protect yourself from shady deals and scams, the financial institution, Staten Island’s only community-based commercial bank, suggests following these consumer tips from the U.S. General Services Administration’s “Consumer Action Handbook”:



§  Be wary of promises of “no risks” or guaranteed earnings.


§  Beware of emails or calls asking you to confirm your bank account, credit card number, PIN, or social security number.


§  Create unique usernames, passwords for your email and online accounts. Use a PIN, two-factor authentication and other security features.


§  Don’t sign a contract with blank spaces or incomplete terms. Read and understand any contract, legal document, or terms of service before you sign or click “I Agree”.


§  Don’t feel pressured by calls or emails, supposedly from the government or creditors, that threaten you if you don’t send payment immediately.


§  Get estimates from several contractors for home or car repairs. Make sure the estimates are for the exact same repairs for a fair comparison.


§  Read retailers refund, return, and early termination or cancellation policies, before you buy.


§  Be cautious of shopping on public wi-fi networks, that don’t encrypt your information.


§  Beware if someone calls you, claiming that you owe money, demanding a payment by wire transfer or branded gift card.


§  Look for the padlock icon in the bottom right-hand corner of your screen or a URL that begins with “https” to ensure that your payment information is transmitted securely.


§  Don’t buy under stress. Avoid making big-ticket purchases during times of duress.


§  Notify your lender immediately if you are having difficulty making payments on loans, so that you can work out a payment plan.


§  Protect access and use of your digital wallet (connected to your mobile phone or payment app) with a PIN or your fingerprints.


§  Read the privacy policy and security statement on apps you download to make sure that your personal information is secure.


  §  Sign up to receive text messages to alert you when your credit card is used. These texts help you catch fraudulent purchases immediately.




About Victory State Bank

 VSB Bancorp, Inc. (OTCQX: 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. A planned sixth branch, to be situated in Meiers Corners, has received both regulatory and building department approvals. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.


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