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.

DO NOT AUTHORIZE any card transactions, payments, or account changes in response to messages, calls, or links received through TikTok or any unofficial source.

PROTECT YOUR ACCOUNTS by regularly monitoring account activity and enabling alerts for transactions.

Salem Five is here to help. We will never ask you to provide online banking credentials, PIN numbers, or full card details through social media, text messages, or unsolicited phone calls.

If you believe you have been targeted by a scam, or have provided someone with your account or online banking information, contact us immediately at (800) 850-5000.

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 Zelle payments from your account

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, offering to help with a suspicious charge. Don't get tricked by replying to the text message or calling a phone number. Learn more about this scam by visiting the Federal Trade Commission Consumer Advice (consumer.ftc.gov). 

How to avoid text scams:

• DO NOT APPROVE Zelle refunds via text message.
• DON'T REPLY to unexpected text messages, it could be a scam.
• NEVER CLICK LINKS in unexpected messages. Scammers want you to react quickly.
• DON'T ASSUME a text from a known business or bank is legit.
• DON'T CARELESSLY give out your credit card or social security number.
• ALWAYS CHECK it out and reach out directly to the business or bank by using a phone number or website you know is legit. 

Delete and report scam texts using your phone's "report junk" option or forward unwanted texts to 7726 (SPAM). Learn more at ftc.gov/textscams.

Salem Five is also here to help! If you believe you have been a target of a scam, or have provided someone with your account or online banking information, contact us immediately at (800) 850-5000.