Tis the Season for Scams and Scoundrels

beware of holiday scamsThis time of the year we always see an increase in both Debit/Credit Card Fraud and Social Engineering Scams.  Here at The Cooperative Bank of Cape Cod, we have a number of tools and resources you can use to be on guard for Fraud attempts and how to spot Scams.

When it comes to keeping watch over your accounts and the transactions debiting and crediting your accounts, The Cooperative Bank of Cape Cod has a number of useful tool to help you.  Online Banking and Mobile Banking are available 24 hours a day, seven days a week.  When enrolled in these products, you may set up various notification and alerts that will inform you of various types of activity.  With our Mobile Applications, you can even turn on or off your Debit Card if you suspect fraudulent activity.  Visit https://www.thecooperativebankofcapecod.com/manage-my-cards/ for more information.

Are you using Zelle?  It’s a fabulous tool to instantly transfer money to people that are well known to you. What happens when you’re unsure about using Zelle to pay someone you don’t know?  If you don’t know the person, or aren’t sure you will get what you paid for (for example, items bought from an online bidding or sales site), you should not use Zelle for these types of transactions.  We have an entire Frequently Asked Questions page about Zelle on our website, you may access it here https://www.thecooperativebankofcapecod.com/zelle-faqs/


A scam does not have to be elaborate to fool someone.  Scammers have a vast toolbox they can pull from to use tried and true scams from years gone by to more elaborate scams using today’s most advanced technology.  Whether the scam is old or new, these scams usually have warning signs that should help you spot them.

Scammers usually pretend to be contacting you from a legitimate organization.  It is very easy for a scammer to manipulate the phone number you see displayed in the caller id on your telephone.

Always authenticate who you are speaking to and learn the Warning signs of a scam:

  • Pressure for you to act immediately
  • You are in trouble with the government (IRS, Local Sheriff, etc.)
  • You have won a prize
  • Scammers will manipulate the method they want you to pay them
    • Such as gift cards
    • Or, they may send you a check and ask for you to send money back; however, the check they sent you turns out to be fake

How you can avoid Scams:

  • Authenticate who you are really dealing with outside of the initial contact. For instance, if the caller claims to be from the IRS, get off the call, look up the phone number for the IRS, then call the IRS office directly.
  • As a rule of thumb, NEVER give out personal or financial information for a request you were not expecting or you did not initiate.
  • Slow down, think, and then respond. You should not feel pressured into acting immediately.
  • Get a second opinion! Stop and ask someone you trust.

For more information, please visit one of the following resources:

The Cooperative Bank of Cape Cod’s website security page:


The Federal Trade Commission (Identity Theft and Online Security)