By Tucker Henderson

Reporter

With Black Friday deals and holiday shopping knocking on the doorstep, the Farmers & Merchants State Bank in New York Mills wants to help everyone make the most out of this season, but more importantly, to make sure each and every one of their customers are safe from fraud and scams which run rampant this time of year.

With a multitude of scammers trying to steal the money of hardworking Americans, Farmers & Merchants Bank is always on the lookout for potential scams and works tirelessly to stop their customers from being duped and to rectify situations after scammers succeed. Common scams to be on the lookout for include giveaways, romance and online dating, family imposter, government imposter, tech support, phony charities, investment deals, contractor scams, payment app, stolen ID, and job opportunity scams.

“We’ve seen every single one of these,” said Amy Wallgren, Vice President of the Bank. “You think, oh, we’re in a small town, that doesn’t happen here—yes, it does. The Federal Trade Commission (FTC), where people report fraud, says that people lost $12.5 billion in 2024, that’s just what was reported. Think about all the people who don’t actually take the time to report it online.”

One of the most common scams that Wallgren has seen lately is the tech support scam, when someone calls you on the phone, emails you, or something pops up on your computer, warning you to call a certain number in order to get the problem fixed. She urges that anyone who comes across this avoid the caller or phone number given at all costs and speak with a legitimate technical support person, whether that be a local technician, or an official representative from a malware company.

Another recurring scam are payment app scams which have become commonplace. These scams include apps such as CashApp, Venmo, or Zelle which allow people to send money to one another electronically without contacting their bank. Oftentimes, scammers may use these apps to pay for an item on Facebook Marketplace or over text or social media. 

Scammers might also send you money and ask that you send a portion of it back through a wire transfer or similar method. These scammers are often using another person’s account and once the true account owner realizes what has happened is able to report the transaction and get their money back, leaving the seller of an item footing the bill.

Wallgren said that the apps are not the problem when it comes to these scams, as they are commonly used for daily business, she mentioned that she even uses these apps. The problem is when people use payment apps to send money to someone they don’t know or only met for the first time to sell their Marketplace items. It’s important that people avoid these types of deals.

“The red flags are to do something in a hurry,” said Wallgren. “No matter what kind of scam, they need the money right now. Don’t let anyone pressure you—whether it’s a contractor or you won something—they want you to act now. They might send you money and ask you to send it back or send it to someone else—don’t do it! They could be using you as a money mule to launder money, we’ve seen that too.”

Wallgren said that the bank has implemented extra precautions recently as scams, especially those involving artificial intelligence—which can duplicate someone’s real voice—continue to rise. Everyone that calls the Bank to inquire about their account now has to answer identification questions to verify that they are who they say they are. Staff members continue to look out for scams and to keep every member safe from fraud.

“Nobody tells us up front, ‘hey this person told me to deposit this and send it to whoever,” said Wallgren. “So we are all pretty good at recognizing things that are suspicious. You feel bad asking people more questions, but you want to make sure they know the person they’re sending money to. We would rather not see our customers lose their money.”

With most scams, the probability of getting any money back is usually quite low. Scammers know what avenues to acquire their ill-gotten-gains so that they aren’t able to be traced back to them. Wire transfers, gift cards, and payment apps are all mediums of payment to be wary of when it comes to someone you don’t know trying to talk to you about money. In any case, if someone does fall victim to a scam, it’s important to report it to the FTC and also to the bank.

“If you do fall victim to a scam, don’t feel bad, these scammers are so good at what they do and technology and advancements have helped them to become even better at it,” said Wallgren. “Go to your bank right away, let us help you. We might not be able to fix everything, but we can help you protect your account and your cards and help you know who to talk to next.”