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Fraud Warning

  1. Prior Fraud Attempts Using CIT's Name and Reputation
  2. Business Email Compromise (BEC) Fraud on the Rise
  3. Online Fraud
  4. Identity Theft
  5. Scams
  6. Where Can You Get Further Information?

At CIT, we are committed to the security of your financial information. However, you must also take every step to ensure the safety and privacy of your information. To help educate you on certain types of frauds such as identity theft, online fraud and scams, we've listed some examples of fraudulent attempts using CIT’s name and reputation. We’ve also detailed some of the major threats on the Internet today, as well as ways to take action to both prevent and manage these issues if they occur.


CIT Executives and Officers Impersonation. We have recently learned of a scam where a fraudster impersonates a CIT executive (for example, John Fawcett, CFO) in an email, social media (e.g., Facebook) message or text message, informing the intended victim that they need assistance with moving a sum of money from a foreign bank account. If the victim agrees to this, there is a promise of a large sum of money to be split between the CIT executive and the intended victim. Prior to the transaction taking place, the impersonator will request an “advance fee” of some type, which is where the loss to the victim takes place. If you receive an email, text message or social media message of this type, we strongly advise you to ignore the message. You may verify the authenticity of the message by contacting CIT Bank at

Advanced Fee Loan Schemes. Fraudulent websites/emails have advertised partnership with CIT. The fraud attempt would involve a fake website or unsolicited emails claiming that they are CIT executives, or associated with CIT and are authorized to broker or facilitate commercial loans on behalf of CIT. Potential customers are requested to send an advanced fee to the unauthorized broker prior to the "loan" being approved or funded. This type of fraud is known as an "advanced fee loan scheme" and you should never provide funds in this manner. You should note that all emails from CIT include the "" domain name. CIT employees do not conduct business from free email accounts such as Gmail or Yahoo mail. 

“Pay-Day” or “Fast-Cash” Loans. These fraudulent sites would offer the ability to open bank accounts or make on-line deposits with CIT or CIT Bank, or offer "pay-day" or "fast-cash" type of loans, but they are actually fraudulent. CIT and its affiliated entities do not offer "pay-day" or "fast-cash" loans. Please do not send any money to these sites or attempt to open an account or make a deposit on-line as they are not CIT or CIT Bank.


Regulatory and government agencies are warning about a continued and significant increase in BEC scams. Fraudsters have tried to steal billions of dollars from businesses, posing as company executives and ordering huge wire transfers. These scams can be in the form of emails, phone calls or texts. Many of the attempts are targeted to specific individuals or business functions (e.g., Payroll, HR, Accounting) and appear to be about everyday business processes. A common tactic is to convey a sense of urgency and/or secrecy. Often, the emails arrive late in the day, just before a holiday or weekend, or when the purported sender is out of the office. If you receive an email that appears suspicious, be sure to check the authenticity of the email prior to performing any wire transfers.


Online fraud and scam occurs when someone poses as a legitimate company to obtain your personal and financial information in order to illegally conduct transactions on your existing accounts. Often called "phishing" or "spoofing," the most current methods of online fraud are fake e-mails, websites and/or pop-up windows.

CIT will never send an unsolicited request for personal information through e-mail or require customers to send personal information to us via e-mail or pop-up windows.

Fake e-mails will often:

  • Ask you for personal information. Fake e-mails often contain an overly-generic greeting and may claim that your information has been compromised, that your account has been frozen, or ask you to confirm the authenticity of your transactions.

  • Appear to be from a legitimate source. While some e-mails are easy to identify as fraudulent, others may appear to be from a legitimate address and trusted online source. However, you shouldn’t rely on the name or address in the "From" field, as this is easily altered.

  • Contain fraudulent job offers. Some fake e-mails appear to be from companies offering jobs. These are often work-at-home accounting positions which are actually schemes that victimize both the job applicant and other customers. Be sure to confirm that the job offer is from a known and trusted company.

  • Contain prizes or gift certificate offer. Some fake e-mails promise a prize or gift certificate in exchange for completing a survey or answering questions. In order to collect the alleged prize or gift certificate you may be directed to provide your personal information. Just like with job offers, be sure to confirm that prize or gift certificate is being issued from a known and trusted company.

  • Contains inheritance or bank account deposits claim. The message will say that you have inherited money or that a departed relative has left unclaimed deposit at CIT Bank, and an urgent request that you must "verify" or "re-submit" personal or confidential information by clicking on a link embedded in the message or you sending the information by email. This is a fraud attempt.

  • Link to counterfeit websites. Fake e-mails may direct you to counterfeit websites carefully designed to look real, but which actually collect personal information for illegal use. Check the URL in your browser’s address bar to ensure you are visiting a legitimate website.

  • Link to real websites. In addition to links to counterfeit websites, some fake e-mails also include links to legitimate websites as supplements to fraudulent e-mails in order to make them appear real.

  • Contain fraudulent phone numbers. Fake e-mails often contain telephone numbers that are tied to the fraudsters. Never call a number featured on an e-mail you suspect is fraudulent, and be sure to cross-check any numbers you do call with companies you know and trust.

  • Contain real phone numbers. Some of the telephone numbers listed in fake e-mails may be legitimate, connecting to actual companies. Just like with links to legitimate websites (above), fraudsters include real phone numbers in an effort to make the e-mail appear legitimate.

Identity theft consists of any situation in which you have unintentionally given your information in a phishing or other identity theft scam or your information has been used by an unauthorized party to conduct transactions, business or other enterprises under your name. You can prevent identity theft by NOT leaving your account information where others can see or have access to it; or use easy-to-guess passwords such as birth dates, first names, pet names, addresses, phone numbers or Social Security numbers (after initial registration) that can be easily obtained.


Lottery Scams. Victims of lottery scams receive a letter/email declaring the recipient the winner of a lottery or sweepstakes. The letter (which may contain official looking logos) refers to an enclosed check for a small portion of the winnings which is to cover tax, fees, and/or insurance. The recipient is instructed to contact the sender to negotiate the balance of their winnings, at which time personal information is requested to "verify" the recipient's identification. The enclosed check is not valid, and the request for identification information is an attempt at identity theft. Protect yourself from lottery scam by never providing sensitive account or personal information in response to such a letter. If you have already provided personal information, please contact your local law enforcement agency immediately. If you receive a similar letter and you are unsure about its validity, either contact law enforcement or the bank that issued the enclosed check.

Gift Card Scams. The use of gift cards as payments are often the preferred method of payment by fraudsters. As an example, a fraudster posing as your utility company may call you or email you and request that an outstanding balance be paid in the form of a gift card or wire transfer. This should be a red flag and you should first contact your actual utility company to verify the inquiry before paying a potential fraudster.

Romance Scams. Fraudsters have been known to contact potential victims of all ages through dating web sites, social media sites or by email. The scam works by befriending the intended victim and eventually requesting money, such as for medical bills. The fraudsters may request payment by wire or gift cards.

Work from Home Scams. Fraudsters post ads on line seeking part-time of full-time workers to process their payments they received for various businesses, with a cover story that they cannot receive checks or payments from the US. The fraudsters will request you to open a bank account in your name, receive checks/payments into the account, and request that you either forward the payments to another bank account or to provide them with your login credentials and password for online banking.


The types of scams and frauds are unfortunately on the rise. The above examples are not comprehensive, there are many and varied types of scams out there. While the convenience of online transactions and the internet makes our life easier, we must take reasonable precautions to keep ourselves safe. For more information, including how to check your credit report (for free) once per year, you can visit the US Federal Trade Commission web site: fraud at CIT . For further information and practical tips from the federal government, to help protect you from Internet fraud, secure your computer, and protect your personal information, please visit and

To notify us of online fraud, identity theft or a scam involving CIT or your CIT account, please call the CIT Corporate Investigations Group, Monday through Friday, 8:00 a.m.— 9:00 p.m. (EST) at 855-462-2652 or e-mail us at Please include your name, e-mail address, telephone number and a detailed description.