Senator warns public of Federal Reserve Bank scams - WFMJ.com News weather sports for Youngstown-Warren Ohio

Senator warns public of Federal Reserve Bank scams

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Senator Bob Casey, a member of the U.S. Senate Special Committee on Aging, issued a warning on Wednesday to consumers of a scam involving the Federal Reserve Bank. 

The Federal Reserve is rejecting these fraudulent transactions.

Federal Reserve Banks in Ohio are warning people of scammers convincing individuals to use routing numbers and personal Social Security numbers to pay bills.

The Federal Reserve only conducts business with other banks, it doesn't hold money in accounts for individuals. 

"Beware of a recent scam convincing individuals that they have accounts with the Federal Reserve Bank," said Senator Casey. "Individuals cannot bank with the Federal Reserve or use Federal Reserve Bank funds to pay bills. As the saying goes, if it sounds too good to be true, it probably is."

The committee says that if you suspect that you are a victim of a scam, call 1-855-303-9407.

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