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Innovation

Counterfeit check security and bank closing alerts (5/14/2010)

We got six FDIC counterfeit check and two bank closing alerts today.

Many of you are IT professionals, responsible for not only keeping your systems running, but also managing the security of your users. With phishing, spam, and and other scams on the rise, keeping users secure becomes more and more of a challenge.

Beyond computer-based security, banking scams are on the rise. I get FDIC Special Security Alerts each week from the FDIC about banking scams, in particular counterfeit check alerts.

Because of the damage that can be done from these banking scams, I thought it'd be helpful to keep you in the loop, and perhaps you help keep your users on the lookout. This week, I'm also listing a few bank closings reported by the FDIC.

Today's Alerts for counterfeit check scams

I got six alerts today. The following counterfeit items have been reported in circulation:

  • Counterfeit cashier's checks bearing the name Community First Bank, Somerset, New Jersey
  • Counterfeit cashier's checks bearing the name The First State Bank of Munich, Munich, North Dakota
  • Counterfeit cashier's checks bearing the name First Personal Bank, Orland Park, Illinois
  • Counterfeit cashier's checks bearing the name New Tripoli Bank, New Tripoli, Pennsylvania
  • Counterfeit cashier's checks bearing the name Choice Financial, Langdon, North Dakota
  • Counterfeit cashier's checks bearing the name PremierWest Bank, Medford, Oregon

Let's add in those two bank closings:

  • Towne Bank of Arizona (CERT #57697), Mesa, AZ was closed by the Arizona Department of Financial Institutions.
  • 1st Pacific Bank of California (CERT #35517), San Diego, CA was closed by the California Department of Financial Institutions.

All deposits, excluding certain brokered deposits, were transferred to the acquiring institution.

That's it for now. Here's a detailed series of tips that'll help protect you from check scams.

Hopefully, there won't be any more for a while.

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