The Madison Police Department and FBI are working together to solve a telephone scam affecting numerous Associated Bank members who have lost money from their bank accounts.
Don Klein, spokesperson for Associated Bank in Madison, said the issue is being taken seriously. He said any time customers are conned into losing their money, a thorough investigation ensues. A report released by the MPD said the scam is ""sophisticated"" and all Madison residents and students should be aware of the issue.
The police report said victims each received a call telling them their accounts were in trouble. They were then given a number to call and were asked for account and pin information once they called.
Klein said more than 60 people called Associated Bank and asked whether their account was in fact in trouble. He said after a number of customers called with the same question, it prompted a police investigation. He also said it is uncommon for banks to request account and pin numbers over the phone.
""Those should all be huge red flags [to a consumer],"" Klein said. ""A bank would never do anything like this.""
The report said other banks could possibly be affected as a result of the fraud. Klein said Associated Bank has a large college student clientele. He said numerous students from UW-Madison, Edgewood and other local schools have accounts with the bank, but he said they should not worry as long as they take precautions.
According to Klein, students may lack experience with banking procedures, but he noted that is no reason to label them ""more susceptible to scams.""
""People, in general, are becoming more aware that these scams are taking place,"" Klein said. ""Our goal is just to keep everyone informed.""
—Quinn Craugh
