Particularly when someone logs into online banking and creates a P2P bill pay type of transaction, financial institution employees and accountholders should be extra cautious of the increase in transaction risk. Use fraud monitoring tools to spot account takeovers where the fraudster has the banking information of your customers as a result of phishing, malware, or keylogging.
This scam conducts a Person-to-Person (P2P) transfer using bill pay as opposed to online banking using an ACH credit. By using bill pay, fraudsters create ACH credits from your accountholder’s account to the accounts of other people at other financial institutions. This fraud happens when P2P bill payment authorizations (specifically those involving ACH credits) are set up with missing or insufficient authentication layers. Financial institutions should ensure that deposits of any kind, especially those made online or through mobile devices, are properly authenticated before releasing the funds in order to prevent this crime.
To make a payment, you may use this official links below:
Bill Pay Scam
https://www.cmpco.com/wps/portal/cmp/networksfooter/ourcompany/news/newsroom/billpayscam/!ut/p/z0/hY6xDoIwGISfhYHR_EXA6EiIYgwYHTTYhRQCWIX-UCrK2wthwEVdLrnk7rsDCiFQwVqeM8VRsKL3F7qITCNYby2X7JeBtSJHy_RPnncmG9uAHdAfgYM5EOYycIMcaMXUdcZFhhDiQyZYVkx0GaJK5R9OP9Rz-K2uqQM0QaHSl4Iw6Qm5jKbHOhlxOpkGdCLSZzOqRCx1EvOiqFjXJKz8cm_Ijjo0IPxsVHca20XrO46mvQFehfhk/
Beware of bill payment scams – Verify before you pay. We continue to learn of fraudulent activities – nationwide and locally – where our customers are
My Relatives Fell For This New Scam: Be On the Lookout!
https://www.experian.com/blogs/ask-experian/my-relatives-fell-for-this-new-scam-be-on-the-lookout/
They gave the scammers their Sprint account information, and a few days later, sure enough, their $250 bill had been paid in full.
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We keep learning about illegal activities, both locally and nationally, where our customers are contacted and asked to pay current or past-due charges, but these “payments” actually end up going to con artists. These contacts take place by email, phone, or in person. Utility customers can make an easy target for these con artists because, unlike customers of retail businesses, almost everyone uses an energy provider and pays utility bills.
Take the following precautions to avoid falling victim to a scam:
- We don’t demand that customers buy debit cards to make payments (like Green Dot MoneyPaks). Any instruction involving such payment plans ought to raise suspicions.
- Enrolling in our AutoPay service, which will automatically deduct the amount due from your bank account each month, is one way to completely avoid payment scams and stay up to date with your CMP bills. You can relax knowing that your payment was processed safely. Learn more about AutoPay.
- On our secure Account section, you can always check the status of any past-due amounts as well as your account balance. Youll find complete information about your CMP account payment options.
- Never give anyone your credit card information over the phone if they ask you to call a different number.
- You can send payments to us by mail at CMP, P O. Box 847810, Boston, MA 02284-7810.
- Pay in person at an authorized payment agent.
- Always adhere to the instructions provided by the payment service you use to pay your bills (such as your bank) to protect the security of your account.
- At your location, you can quickly and easily confirm any CMP employee’s identity. Ask for their photo ID card.
Remember, if something sounds too good to be true, or if information about your account balance doesn’t match what you expect, it probably isnt true. It pays to protect yourself from scams. If you have fallen victim to a scam, immediately contact your local police and the Federal Trade Commission (FTC.gov).
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FAQ
What is bill pay scam?
This scam conducts a Person-to-Person (P2P) transfer using bill pay as opposed to online banking using an ACH credit. By using bill pay, fraudsters create ACH credits from your accountholder’s account to the accounts of other people at other financial institutions.
Is bill pay real?
Many banks and credit unions provide bill pay, a service that enables you to set up automatic payments for bills. Online bill pay can save you time and prevent late fees if you have to juggle multiple payments for things like rent or a mortgage, cable and electricity, credit cards, and more.
How does bill pay work to a person?
Give the recipient’s email or phone number, along with a strong password of your choosing. The recipient then uses that password to sign in to a secure website and enters the necessary account information. Your account makes an electronic deposit into their account.
Is online bill pay safe?
The majority of the time, online bill payments are secure. Financial institutions and credit card companies both use security protocols, such as usernames and passwords, security layers, encryption, and automatic signoff, to ensure the security of transactions.