On Thursday, the Federal Reserve Board (FRB) issued a warning for consumers to do two things to protect themselves and their finances:
- Monitor online accounts for unauthorized transactions, and
- Learn where to find help should you find unauthorized transactions in your financial accounts
The FRB's warning also stated:
"Signs of potential problems may include a notice, bill, or debit card for an account that was not activated or authorized, as well as a notice of fees for unsolicited products or services tied to an existing account. Consumers who see questionable activity should contact their financial institution immediately. Consumers who continue to experience issues may also submit a complaint to the Federal Reserve. The Federal Reserve maintains the Federal Reserve Consumer Help (FRCH) website, which offers an online complaint form and information on filing complaints by fax and phone for consumers. The FRCH website also provides consumer alerts, frequently asked questions, and information about other government agencies. While the Federal Reserve does not have the authority to resolve every problem, it will refer complaints to the relevant federal or state agency. Consumers can contact FRCH at 1-888-851-1920, or at www.federalreserveconsumerhelp.gov."
Other relevant federal agencies may include the Federal Trade Commission (FTC), the Consumer Financial Protection Bureau (CFPB), and the Securities & Exchange Commission (SEC).