Don't Fall Victim to the Latest Tax Scam
As tax season nears, it's important to remain vigilant to avoid becoming a victim to scammers. Remember, the IRS will never:
• Initiate contact with you by email or through social media.
• Ask you to pay using a gift card, prepaid debit card, or wire transfer.
• Request personal or financial information by email, texts, or social media.
• Threaten to immediately have you arrested or deported for not paying.
In the latest scam, fake CP2000 notices often arrive as an attachment to an email (big red flag!). Other telltale signs of this fraud include:
• A “payment” link within the email. Scam emails can link you to sites that steal your personal information, take your money, or infect your computer with malware. Do not click on the link.
• A request that a check be made out to “I.R.S.” Real CP2000s ask taxpayers to make their checks out to “United States Treasury” if they agree they owe taxes.
Don't fall victim to scams involving tax fraud. And remember, if it sounds too good to be true, it probably is.
Visit the IRS website for more information.
Preparing Your Finances for a Flood, Fire or Other Disaster
Without warning, a flood, fire or other disaster could leave you with a severely damaged home, destroyed belongings and barriers to managing your finances. Many people think of disaster preparedness as having a stockpile of water, canned food, and flashlights, but people also need access to cash and financial services. That's why it is important to include financial preparedness in your disaster plans. [Click the button below to read more.]
Choosing and Using the Right Bank Account
When managing your money, the right tools can make all the difference. That's why it helps to start by opening a bank account that best fits your lifestyle and financial goals. FDIC Consumer News provides some simple pointers to help you choose wisely and streamline how you manage your checking and savings accounts. [Click the button below to read more.]
0% Auto Loan Might Not Be the Best Deal
In seeking the best deal on your next car, you might've stumbled upon advertisements or offers to get a 0% interest auto loan. As great as this sounds, you may not save as much as you expect with this type of incentive.
Since auto loans can come through either a dealer or a lender, such as a bank or credit union, it's important to note that a 0% interest loan generally, if not always, is obtained through a dealer. Automakers offer them to attract buyers to certain car models, especially ones that aren't selling well. Here are a few things to consider about 0% financing and why it might not be in your best interest to use it. [Click the button below to read more.]
Cyber Security Awareness
These days, we are always connected - either via mobile phone, computer or tablet. While these devices enable us to instantly connect with family and friends, make purchases, and post photos, this convenience can come at a high price. Many of the apps you use or sites you visit require you to provide personal information including your name, email address and possibly a credit card number. This puts you at an increased risk of having your information compromised by cyber criminals. Anderson Brothers Bank strongly encourages you to visit the Stop. Think. Connect. Campaign at www.dhs.gov/stopthinkconnect for cyber tips and resources.
EMV Chip Cards are Here!
EMV ( E uro-pay, M asterCard and V isa) chip cards give you added security when used at a chip card reader, and are easier to use outside the United States. The new cards will still have a magnetic strip in addition to the secure chip embedded in the card to prevent skimming and other fraudulent practice if chip is used for payments.
- Reduction in Card Fraud - Cardholders and merchants can greatly reduce their exposure to fraudulent purchases if used properly.
- Added Security - EMV cards store your payment information in the secure chip using a issuer-specific, single-use code making it almost impossible to duplicate.
- Ease of Use - EMV cards can be used any where your current magnetic strip card is used and has helped prepare for mobile contact-less payments. Additionally, Europe, Asia, Canada, Mexico and South America have already embraced chip technology, so your card will be easier to use outside the United States.
The microprocessor chip encrypts transaction data uniquely for every purchase to protect the card from being duplicated compared to the magnetic stripes that contain static data of payment information that never changes. When using a magnetic strip-only card, all thieves have to do is lift that information, reproduce the card and enjoy a shopping spree.
To use your new EMV card at a chip reader, simply:
- Insert your card into a terminal slot with the chip facing up.
- Leaving the card in the slot, follow the prompts on the screen to complete your purchase. You may be asked for your PIN or to provide your signature.
- Remove your chip card when prompted.
During the transaction, encrypted data flows between the chip card and the issuing financial institution to verify the card's legitimacy and create the unique transaction data. This is as quick as the traditional swiped card. For online and phone purchases, you may still place orders the same way you have in the past.