Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Wisconsin league warns of scam targeting small biz
PEWAUKEE, Wis. (2/25/09)--Scam artists again are taking advantage of current economic uncertainty with a new scam attempt targeting small businesses. The Wisconsin Credit Union League has sent a warning to credit unions in that state so they can alert members. The scam involves letters printed on what appears to be U.S. Small Business Administration (SBA) letterhead and claiming to be from the SBA. The letters request financial account information to qualify the small business for federal tax rebates under the Economic Stimulus Act. However, SBA has not authorized these letters. The scam serves as a reminder to small businesses and consumers that they should be especially wary of communications--whether by phone, e-mail or mail--that ask them to update, validate or confirm account information, said the league. The league sent the warning because many members use credit unions for their business loans or other financial services “Typically you’ll see scam artists posing as financial institutions trying to trick account holders into divulging personal information," said league President/CEO Brett Thompson. "In this case, the scammers are just trying to reach members of a financial institution using a different angle. But no legitimate business--including Wisconsin credit unions, the League or the SBA--would ever solicit financial account information via phone, mail or email.” Businesses receiving the letter should not respond but instead report the letter to SBA’s Office of Inspector General by calling 800-767-0385 or by e-mailing OIGHotline@sba.org.


RSS print
News Now LiveWire
July 's Fed Bank's "FedFocus" has some interesting articles: incl cost/benefits of $1 currency 2 coin conversion ttp://tinyurl.com/nybmnhh
12 hours ago
Do you wish you were a News Now subscriber? Go here: http://t.co/7evfBSjeMx
12 hours ago
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
13 hours ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
13 hours ago
.@CUNA is testifying on reg relief Tues,July 15 at 2 p.m. be4 Hs Fin Serv Subc. Here is the agenda and witness list: http://t.co/yBRhlmdqHt
16 hours ago