Security Awareness

Security Awareness Alert: Virtual Currency ATM Scams

At Liberty Bank N.A., your financial security is our top priority.
We are committed to keeping you informed about current scams that could impact your safety and peace of mind.

Recently, the Financial Crimes Enforcement Network (FinCEN) issued a nationwide warning about fraud schemes involving virtual currency ATMs.

Criminals are posing as trusted organizations — including government agencies, law enforcement, utility companies, and well-known businesses — to pressure victims into depositing cash into these ATMs. Once the funds are converted into cryptocurrency, they are virtually impossible to recover.

How the Scam Works

Scammers use several tactics to convince victims to deposit cash into a virtual currency ATM:

Impersonation: They pretend to be from the IRS, police department, Social Security Administration, or a major company.
Urgency and fear: They may claim your bank account is frozen, your identity has been stolen, or you owe immediate payment.
Detailed instructions: They’ll tell you exactly where to find a virtual currency ATM and what buttons to press.
QR codes: Some scammers send a QR code for you to scan at the ATM — this directs your money straight into their crypto wallet.

If anyone instructs you to deposit cash or buy cryptocurrency on their behalf — stop immediately. This is a red flag for fraud.

Protect Yourself

Take these steps to keep your accounts and information secure:

1. Stop and think before sending money.
If you feel pressured or threatened to make a payment, it’s almost always a scam.

2. Verify the source.
Never trust phone calls, emails, or texts requesting urgent payments.
Hang up, and call the organization directly using a verified phone number — or contact Liberty Bank at (800) 735-2465.

3. Be cautious of cryptocurrency requests.
No legitimate business, bank, or government agency will ever ask for payment in cryptocurrency.

4. Protect your personal information.
Do not share bank details, PINs, passwords, or one-time codes with anyone.

5. Report suspicious activity.
If you think you may have been targeted or scammed:

Contact Liberty Bank N.A. immediately at (800) 735-2465.

File a report with the Federal Trade Commission (FTC) at: reportfraud.ftc.gov Or Internet Crime Complaint Center (IC3)

Additional Tips for Staying Cyber-Safe

Monitor your accounts regularly for unusual transactions.
Set up account alerts through Liberty Bank Online Banking to stay informed in real time.
Set up account alerts through Liberty Bank Online Banking to stay informed in real time.
Use strong, unique passwords and enable two-factor authentication wherever possible.
Keep your devices secure — install updates and use trusted antivirus software.
Educate family members, especially seniors, who are often targeted by scams.