3 Ways to Protect Yourself from Auto Warranty Scams

 

Victory State Bank is spotlighting a warning from the Federal Communications Commission (FCC) about auto warranty scams.

According to the government agency, this particular fraud scenario may begin with phone calls from scammers posing as representatives of a car dealer, manufacturer or insurer telling you that your auto warranty or insurance is about to expire. The call will include some sort of pitch for renewing your warranty or policy.

During the call – which often begins automated or pre-recorded – you may be instructed to press a certain number or stay on the line, then asked to provide personal information, which potentially can be used to defraud you.

According to the FCC, it may be particularly hard to discern if this type of call is fraudulent because the scammer may have specific information about your particular car and warranty that they use to deceive you into thinking they are a legitimate caller.

To help protect you form auto warranty scams, Victory State Bank if sharing these three tips from the FCC:

1)      Do not provide any personal information, such as a social security number, credit card information, driver’s license number or bank account information to any caller unless you can verify you are dealing directly with a legitimate company with which you have an established business relationship.

Telephone scammers are good at what they do and may imply that they work for a company you trust. Don't fall for it. Be extremely cautious.

2)      If you have caller ID, screen incoming calls.

Legitimate telemarketers are required to transmit or display their phone number and the name and/or the phone number of the company they're representing. The display must include a phone number that you can call during regular business hours to ask that the company no longer call you.

3)      Be cautious even if a number appears authentic.

Criminals may engage in caller ID "spoofing" – deliberately falsifying the information transmitted to your Caller ID display to disguise their identity.  

FILING A COMPLAINT

You can file a complaint with the FCC about suspected scam calls. In addition to being fraudulent in nature, these calls likely violate telemarketing and robocall rules.

While the FCC does not award individual damages to consumers, your complaint may help the agency identify scammers and take appropriate action. In some cases, the FCC can issue warning citations and impose fines against companies who are violating the Telephone Consumer Protection Act.

If you think you have received a call involving fraud, you can also file a complaint with the Federal Trade Commission at https://www.ftccomplaintassistant.gov.

 

 

 

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, including the main office in the community of Great Kills and branches in 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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