If you ever get a phone call from the Federal Deposit Insurance Corporation, or FDIC, you shouldn’t just be surprised, you should be very suspicious too. And maybe hang up. Trust me, the FDIC won’t be the least bit offended.

Most people probably haven’t heard of the FDIC, or at least don’t really know what the organization does –  it’s an independent agency created by Congress to maintain stability and public confidence in the nation’s financial system, and may be best known recently for its involvement in stabilizing troubled financial institutions.

Apparently scammers are using that publicity to try to con and even threaten unsuspecting consumers into paying on loans they know nothing about.

The FDIC recently issued a warning about a spike in complaints from consumers claiming to have received calls or emails from the FDIC demanding payment on a delinquent loan.

The scammers are exploiting the ongoing shake-up in the financial industry, as banks merge, some are taken over by others, and yet others are closed down. They may claim that they are trying to collect on a loan from a recently acquired bank, and threaten fines or even lawsuits if the target doesn’t make an immediate payment – usually on the spot, over the phone, with a credit card.

What’s more troubling is that in order to convince the recipient of the call that the scammer is genuine, they may even provide private and confidential information about the victim being targeted, including their Social Security number.

This means the caller already has access to the recipient’s personal information, probably stolen, and so the recipient of the call may already be a victim of identity theft.

The FDIC wants to remind everyone that they never call or email consumers, for any reason, and they are not responsible for collecting loans, payments, or fines from consumers.

If you receive such a call or email, just hang up or delete. If the caller appeared to have personal information about you, you should immediately check your credit reports for any discrepancies, and consider either placing a freeze on your reports or constantly monitoring them for any future abuse.

Related posts:

1. The IDGuardian Podcast: Episode #011 — Identity Theft Against the Elderly
2. The Tax Man Cometh (and identity thieves are not far behind)
3. The IDGuardian Podcast: Episode #007 — Concerns with Small Businesses
4. The IDGuardian Podcast: Episode #008 — A Victim’s Story
5. The IDGuardian Podcast: Episode #009 — An Action Plan