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Raiz FCU alerts the El Paso community of active check fraud scam

The perpetrator is using social media to coerce victims into depositing fraudulent checks.

After an internal investigation, it has been reported that people in the El Paso community are being targeted on social media, specifically on TikTok, and in person by an individual asking if they have or want to open a Raiz FCU account. The perpetrator requests to deposit multiple large sum checks into the account to withdraw a portion of that amount in return.

Raiz is urging the community to stay proactive and alert by being aware of common red flags to prevent becoming victims of this scam:

  1. Never share your debit card or account information with anyone, especially those you don’t know or just met.
  2. Do not accept any unsolicited checks.
  3. Verify the authenticity of any check with the issuing institution by immediately contacting them directly at the listed phone number on their website, not from other un-credible sources.

It is also important to understand the consequences of depositing a fake check:

  1. The depositor is responsible for the entire check amount if fraudulent checks are deposited.
  2. You may be responsible for paying the overdraft fees resulting from a bounced check.
  3. Negative balances on your account may impact your credit score.
  4. Unpaid balances will be reported to all credit bureaus.
  5. The financial institution may close or freeze your account if funds are not returned.
  6. A police report may be filed and criminal charges pressed if the full amount is not returned to the financial institution.

Raiz FCU is urging you to report any information related to this active check fraud scam in El Paso directly to the El Paso Police Department at 915-212-4000.

If you think you may have fallen victim to this or any other scam, report it to the Federal Trade Commission on their website at www.reportfraud.ftc.gov.

Raiz Federal Credit Union

At Raiz (pronounced as "rise" in English and "rah-EES" in Spanish) our members and strong, vibrant community inspire us daily. We share a passion for knowledge and the pursuit of growth, grounded in our heritage as El Paso Area Teachers Federal Credit Union (TFCU). Today, we guide members from many professions to focus on their goals and help them get here. We're proud of our roots in El Paso (since 1936) as we envision a bold path forward, leading the way with passion. We are over 70,000 members strong and provide a full range of high-quality financial services at the great rates and low costs you can expect from a first-class credit union. Join us and experience the difference that comes from working with people who care. ...

The meaning behind our name:

Spanish for root, our new identity grows from our heritage in the community. Grounded in the roots of our beginning with teachers, sharing a passion for knowledge and pursuit of growth. We inspire our members and employees to feel connected to our future potential together. We are rising and inviting people to move forward with us. As we look out to the light over the Franklin Mountains rising from El Paso, we look up and ahead to an even brighter tomorrow.

Contact

Ale Loeza
Marketing & PR Manager
915-926-2698
aloeza@raiz.us

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