CUNA Mutual Group Risk Alert: Video Scam Targets Consumers and Routing Numbers

Consumers are falling victim to a scam promoted via online videos claiming bills can be paid online using routing numbers belonging to a Federal Reserve Bank (FRB) or other financial institutions including credit unions.

The scam suggests electronic payments will be generated through the ACH network using FRB accounts touted as "secret accounts" or "Social Security trust accounts" in exchange for personal information like Social Security Numbers.

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