Release Date: August 26, 2009
For immediate release
The Federal Reserve Board on Wednesday warned consumers about fraudulent solicitations that appear to be made with the approval or involvement of the Federal Reserve, Federal Reserve officials, or other U.S. government officials. These solicitations promise bogus financial services or large sums of money in exchange for either payment or personal information that can then be used to access a consumer's bank account.
The Federal Reserve is advising consumers that it has no involvement in these solicitations. Consumers are strongly urged to verify the legitimacy of potential service providers before entering into a business transaction. Individuals seeking help with repairing their credit history, avoiding home mortgage foreclosure, finding mortgage refinance options, or managing their credit card debt should do business only with reputable service providers. Information related to these issues may be found on the Federal Reserve Board's website at: http://www.federalreserve.gov/consumerinfo.
Individuals who have or suspect they have been a victim of a scam should contact local law enforcement agencies. Information related to how to identify a fraud or scam may be found on the Federal Reserve Board's Consumer Help Center website at: http://www.federalreserveconsumerhelp.gov.