Recently, fraudsters have been instructing victims to purchase gift cards (iTunes, Amazon, Apple, etc.) in amounts of $200+. Once the gift cards are purchased, the fraudsters ask the victims for the claim code on the back of the card, claiming their (fictitious) grant funds will be released to their personal accounts after they provide this information. This is a new method of scamming victims out of money.
Please note the Federal Reserve Bank of New York is NOT involved in any federal grant program. We urge the public to remain alert to fraudulent scams involving individuals who purport to be employees of the Federal Reserve Bank of New York. The Federal Reserve Bank of New York does not maintain grant money or any other type of funds/accounts for individuals.