Business ProfileforDFI Department of Financial Institutions scam

The BBB of NJ has received reports that callers posing as representatives from the Department of Financial Institutions have been contacting individuals telling them they have received a large federal grant. To obtain the grant, the victim is instructed to provide bank account informaiton and make some type of initial payment via Western Union. Consumers who sent initial fees, are asked to send more money to secure the grant. No grant money is ever received by consumers. The advanced fees cannot be recovered as the money is picked up immediately with no trace. BBB and Western Union caution consumers never to submit any payments to individuals they are not acquianted with. . While a scammer contacting consumers might appear trustworthy, the scammer has one goal in mind - to fraudulently take money from consumers. The BBB and The Financial Crimes Enforcement Network (FinCEN) reminds the public to be alert to ongoing financial scams that attempt to solicit funds from unsuspecting victims. FinCEN has been receiving calls and reports of financial scam attempts conducted via telephone. In this scam the caller will identify an outstanding debt; this debt may be actual or bogus. The caller will provide the victim with the victim's account, Social Security or other similar number and demand that immediate payment be made. The caller's knowledge of the victim's name, telephone number, account description and personal information serve to legitimize the caller. Recipients of these calls, letters, or e-mails should not respond to such messages, and should not send money or provide any personal or confidential information. Those who believe that they are or have been a victim of a financial scam, should report this information to local, State, or Federal law enforcement authorities. If you believe you may be a victim of money transfer fraud, you may want to call the Western Union Fraud Hotline number at 1-800-448-1492. Please note that Western Union will not be able to recover the money once it is picked up by the receiver.