NEW YORK (WRIC) — The Federal Reserve Bank of New York is reporting a scam in which people are being told they can pay their bills using so-called “secret accounts” or “Social Security trust accounts” and routing numbers at Federal Reserve Banks.
As part of the scam, consumers are exchanging personal information, like Social Security numbers to get what they think is a bank account number at a Federal Reserve Bank.
However, this really is a ploy to get people to share their personal information, which scammers can then sell or use to commit fraud like identity theft.
It’s important to note that people cannot have accounts at Federal Reserve Banks. Only banks can bank at the Federal Reserve.
The Federal Reserve Bank urges you to avoid calls, videos, texts, emails, flyers or websites which describe how you can pay bills using a Federal Reserve Bank routing number or account and to report it to the FTC if you do come across it.
Also, remember to never give your credit card, bank account or Social Security number to anyone who calls or emails and asks for it, no matter who they say they are.
This is a developing story. Stay with 8News online and on air for the latest updates.