Telemarketing Scam Targeted Seniors’ Bank Accounts

 

Victory State Bank, Staten Island’s only community-based business bank, is reminding consumers to safeguard their personal financial information when solicited by telemarketers.

On Monday [July 27], the Federal Trade Commission (FTC) announced that a group of scammers who falsely promised consumers new Medicare cards in order to obtain their bank account numbers and debit their accounts will be banned from selling healthcare-related products and services under settlements with the Federal Trade Commission.

The settlements resolve charges the FTC filed last year against Benjamin Todd Workman and Glenn Erikson and their companies. Their telemarketers falsely told consumers they needed their bank account numbers to verify their identities before sending a new Medicare card, promising they would not take money from the accounts. In fact, they took several hundred dollars from each consumer’s account and provided nothing in return. In some cases, their telemarketers falsely promised to provide consumers with identity theft protection services.

Under the settlement orders, the defendants also are banned from selling identity theft protection-related products and creating or depositing remotely created checks or remotely created payment orders, which are used to make bank account debits.

They also are prohibited from billing or charging consumers without their consent, misrepresenting material facts about any product or service, violating the Telemarketing Sales Rule, and selling or otherwise benefitting from customers’ personal information.\

 

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. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.

 

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