Security Center

Salem Five Update:

Salem Five Bank is alerting customers to a recent scam involving fraudulent activity originating through social media platform TikTok. If you notice any unauthorized transactions from TikTok or other suspicious activity, alert us immediately. Due to high call volume, we are encouraging customers to message us securely through Online Banking with the details. A representative will follow up within 1–2 business days. In the meantime, as an added precaution, you can turn your Debit Card off via Card Controls on Mobile Banking. Thank you for your patience as we work to keep our customers’ information and accounts safe.

How to Avoid the Scam:

Fraudsters may contact customers while pretending to represent Salem Five or other trusted financial institutions. These messages often claim there is suspicious activity on your account or that urgent action is required. In reality, these are scams designed to gain access to your financial information or convince you to approve unauthorized transactions.

Salem Five Update:
Impostors are posing as the Salem Five Fraud Team. We will never request your online banking credentials—hang up and call us at (800) 850-5000.

How the Scam Works:

1. You receive a text asking you to confirm a Zelle transaction.
2. After replying “No,” you get a phone call that appears to come from Salem Five.
3. The caller claims to be from our Fraud Department and says they’ll help issue a refund.
4. You’re asked to share security codes sent to you by text or email.
5. You’re instructed to approve a Zelle payment by replying “Yes” to a text message.
6. The money is sent to the scammer, and they may continue sending fraudulent activity.

FTC warns about Text Scammers!
Many text scams start as fake fraud alerts. You may get a text message from someone claiming to be from a fraud department with Amazon or a bank. Don’t get tricked by replying to the text message or calling a phone number. Learn more about this scam by visiting the FTC.gov.

How to avoid text scams:

• DO NOT APPROVE Zelle refunds via text message.
• DON'T REPLY to unexpected texts.
• NEVER CLICK LINKS in unexpected messages.
• DON’T ASSUME a text from a known business is legitimate.
• DON’T CARELESSLY share personal information.
• ALWAYS CHECK with a verified source.

Delete and report scam texts using your phone’s “report junk” option or forward unwanted texts to 7726 (SPAM).

Salem Five is here to help. If you believe you’ve been targeted, contact us immediately at (800) 850-5000.

HELOC Fraud On The Rise!
Unfortunately, fraud of all types is on the rise. Recently, we’ve noticed a spike in Home Equity Line of Credit (HELOC) fraud. HELOCs are great tools for customers to access funds; but, similar to credit cards, it’s important for you to safeguard your account. Given the typical loan amounts of HELOCs, there’s even more at stake if fraud occurs.

Public Record Information

Certain mortgage and home equity line of credit (HELOC) documents are recorded as public records. These filings may include information such as your name, property address, lender, and signature. In some cases, scammers use publicly available details to appear legitimate or gain your trust in attempts to obtain additional personal or financial information. Salem Five will never request sensitive information through unsolicited calls, emails, or texts.

Here are some steps you can take to protect yourself and your account:

• Safeguard any Checks – Keep in a safe place.
• Enroll in Online Banking – Secure account access.
• Sign up for Alerts – Stay aware of transactions.
• Monitor your Account – Review statements regularly.
• Never share your Account Information – Salem Five will never ask for credentials.

Salem Five is here to help! If you believe you have been targeted or shared information, contact us at (800) 850-5000.