Counterfeit Treasurer’s Check Scam

Please be advised that counterfeit Needham Bank Treasurer’s Checks have been used in a recent fraud employment scam associated with mystery shopping and the Money Gram International company. If you have received a Needham Bank Treasurer’s Check for payment of these specific services, the check is most likely invalid and part of the scam.

Recently and not specific to Needham Bank, counterfeit checks are being used in a growing number of fraudulent schemes including foreign lottery scams, check overpayment scams, Internet auction scams, and secret shopper scams. In the particular scam referenced above, individuals are hired under the false pretense of being a mystery shopper and told that their first assignment is to evaluate a money transfer service, like Western Union or Money Gram. The mystery shopper then receives a check with instructions to deposit it in a personal bank account, withdraw the entire amount in cash, and wire it to a third party. We have been alerted that counterfeit Needham Bank Treasurer’s Checks have been used in this particular scam.

Please note that in no way has Needham Bank been hacked or otherwise compromised. Simply put, fraudster’s have placed a fake Needham Bank logo onto fake Treasurer’s Checks.

If you receive a Needham Bank Treasurer’s Check and are unsure if it is valid, please contact your local branch manager.