Frauds and Scams
Criminals sometimes invoke the name of the Federal Reserve to deceive the public. The Federal Reserve Bank of New York, in conjunction with law enforcement authorities, investigates complaints of fraud using its name.
The Federal Reserve Bank of New York wants to alert the public that cyber criminals and fraudsters will use exceptional circumstances and times of uncertainty, such as the current COVID-19 pandemic health crisis, to attempt to steal money and defraud businesses and individuals. We want to help the public avoid scams that try to trick people into falling for fraudulent schemes by mimicking or faking communications from the Federal Reserve. These “communications” could ask you to do something, like transfer money, sign loan forms or other documentation, pay an advance fee to secure a loan, or provide sensitive personal or business information.

Please know that the Federal Reserve will never contact a business or individual directly for the purposes of securing a loan, obtaining stimulus funding, asking for a transfer of money, or otherwise requesting your information in connection with those activities. If you are seeking stimulus relief, you should always work through your commercial bank or credit union, or with verified contacts in the U.S. Small Business Administration.

Should you have questions, please feel free to contact the Federal Reserve Bank of New York’s Financial Intelligence and Investigations staff via the email address.
In Focus
Beware of solicitations promising consumers access to personal loans through a nonexistent Federal Reserve lending program. Under this fraudulent scheme, targeted individuals are told that that they can work through a broker to access a Federal Reserve program that extends sizable secured loans to consumers.
Scams and Warnings
Scams Involving the Federal Reserve Name
Provides details of ongoing scams that invoke the Federal Reserve name.
To report a fraud involving the use of the Federal Reserve Bank of New York's name, send an e-mail to
Warnings from Other Authorities
Gives an overview of scam alerts from other sources.
Related External Content
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