October 24, 2006
Warning Notice - Fraudulent Cashier's Check - P & S Credit Union
The National Association of State Credit Union Supervisors (NASCUS) has advised us of the following scam:
A company called FDN Distributors Co. is distributing a letter with a fraudulent cashier's check for a large dollar amount to consumers. The checks distributed have all had the same check number: 059210. The checks are written to different individuals for different dollar amounts ranging from $196,000 to $280,000.
The routing and transit number on the checks is the legitimate routing and transit number for P&S Credit Union in Salt Lake City, Utah.
The credit union has been receiving calls from unknowing consumers from across the country trying to cash the fraudulent checks or asking questions about why they received a check. (So far, calls have been received from consumers in Wisconsin, Washington and Connecticut.)
The credit union is aware that its routing and transit number has fraudulently been obtained. So far, P&S Credit Union has not lost any money. There is concern that the letter may direct consumers to send money for a fee before they can cash the check. Or, that consumers may release the routing and transit number from their own account allowing a perpetrator access to their funds.
The precise scam is not understood at this time. NASCUS is alerting state regulators in case a consumer in your state receives a fraudulent check.
The FBI and Secret Service have both been contacted and are researching where the checks are originating.
Please exercise caution if you encounter a item that meets the above description.