Commonwealth Credit Union has become the victim of a vishing scam. Vishing is similar to phishing in that a deceptive message appears to be from a trusted source. But instead of trying to get the reader to click on a Web site or e-mail address, a vishing scam hopes the reader will call a specified telephone number. Several e-mails have been circulating that claim to be from Commonwealth Credit Union. The credit union has also been a victim of a cell phone text message scam. These are fraudulent e-mails and text messages attempting to trick the recipient. To report an e-mail scam to Commonwealth Credit Union, forward the e-mail to geninfo@cwcu.org.
Central Bank has become the victim of a phishing scam. Several e-mails have been circulating that claim to be from Central Bank. One claims that the customer's debit card has been deactivated because of unauthorized access and another claims the bank is promoting electronic statements. These are fraudulent e-mails attempting to trick the recipient. If you receive an e-mail you are unsure of, you may call Central Bank's customer service department at 859-253-6359.
Investors are urged to beware of Ponzi schemes. The Ponzi scheme is a house-of-cards swindle in which high returns are paid to initial investors out of the funds of later investors, who end up losing all or most of their money to the promoter. Find out how the first Ponzi scheme started, learn of some current examples in other states and how to avoid becoming a victim on the North American Securities Administrators Association's Investor Alerts Web site. There you can also listen to a podcast on Ponzi schemes. And remember, it is a good idea to contact OFI at 800-223-2579 to check out the investment and the person selling it before you invest.
Counterfeit official checks bearing the name Citizens Union Bank of Shelbyville are reportedly in circulation – The Federal Deposit Insurance Corporation (FDIC) has issued a special alert (SA-274-2007 on Oct. 16, 2007) regarding a report that counterfeit official checks bearing the name of Citizens Union Bank of Shelbyville, Shelbyville, Ky., are in circulation. A detailed description of the counterfeit item is posted on the FDIC alerts page at the link above. Any information about this matter may be reported to Toni Druin, assistant vice president and Internet protocol manager of Citizens Union Bank of Shelbyville, at 502-647-7451 or tmd@cubbank.com.
Counterfeit cashier's checks bearing the name Louisa Community Bank are reportedly in circulation – The Federal Deposit Insurance Corporation (FDIC) has issued a special alert (SA-251-2007 on Sept. 13, 2007) regarding a report that counterfeit cashier’s checks bearing the name of Louisa Community Bank, Louisa, Ky., are in circulation. The items are reportedly associated with a mystery shopping scam. Louisa Community Bank does not issue cashier’s checks. A detailed description of the counterfeit item is posted on the FDIC alerts page at the link above. Any information about this matter may be reported to Stacy L. DeRossett, chief financial officer of Louisa Community Bank, at 606-638-0007 or sderossett@louisacommunitybank.com.
CSBS AARMR Consumer: Mortgage Payment Increase [PDF 70.2K] – The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) have issued this joint statement to encourage consumers to plan for the scheduled recasts of their adjustable rate mortgages, especially any nontraditional residential mortgage loans, in the upcoming year. The alert was issued in late June 2007. OFI also issued a consumer alert press release on this topic that can be read on the Press Releases page of this Web site.
Consumer Alert on Questionable Solicitations About Community Reinvestment Act (CRA) Program 
– The Federal Deposit Insurance Corporation (FDIC) is alerting the public to questionable solicitations directed at homeowners. Consumers have contacted the FDIC with questions and complaints after receiving solicitations suggesting there is a "Community Reinvestment Act (CRA) Program" that entitles certain homeowners to cash grants or equity disbursements. Some of these solicitations may imply that the FDIC endorses or supports the offers they contain. These solicitations appear to be a deceptive effort to encourage consumers to apply for a mortgage loan secured by the consumer's home. The FDIC does not endorse or sponsor mortgage loan programs. (For more information, please see the full story on the FDIC's Web site through the link above.)
Office of Financial Institutions
1025 Capital Center Drive
Suite 200
Frankfort, KY 40601
Phone: 502-573-3390
Toll free: 800-223-2579
Fax: 502-573-0086
E-mail: kfi@ky.gov