More elderly Americans are falling victim to fraudulent schemes
Nearly nine out of 10 adults have been targeted by a scam, and 32% of people aged 50 to 64 have been the victim of a scam at least once, according to a new report.
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- Savers would be wise to tread carefully if they receive an email claiming to be from TreasuryDirect.
- Scammers are increasingly impersonating government agencies and financial institutions, such as the U.S. Treasury and Internal Revenue Service.
The email arrived completely out of the blue. And, unsurprisingly, many savers panicked when they came across an unexpected subject line: “TreasuryDirect: Account Information Verification This Summer.”
Is it true? Or are they just scammers trying to get your bank account information? Why should TreasuryDirect verify your bank account information now? TreasuryDirect.gov is an online place to buy U.S. savings bonds, including Treasury bills and inflation-indexed Series I savings bonds.
The Treasury Direct email begins: “Summer is here and we encourage you to maintain good hygiene with your Treasury Direct account by checking your bank account and contact information before this busy season begins.”
TreasuryDirect account health?Really?
The email goes on to say that by verifying your bank account information is accurate, future payments “will be routed to your preferred bank account and Treasury will be able to contact you if necessary.”
Savers would be wise to tread carefully if they receive an email claiming to be from TreasuryDirect, a bank, or other financial company. Scammers are increasingly impersonating government agencies and financial institutions, such as the U.S. Treasury and Internal Revenue Service. There also remains the risk of fraudulent websites masquerading as genuine TreasuryDirect sites as a way to hack into individual accounts and redirect redemptions to accounts controlled by fraudsters.
Another important thing to remember: Treasury will never contact you out of the blue by phone, text, or email asking for your password.
Is this summer’s “hygiene” email true?
Oddly enough, savers, I’ve heard from the U.S. Treasury Department’s Office of Fiscal Affairs media team that this email is indeed legitimate.
A Fiscal Services spokesperson told the Detroit Free Press, part of the USA TODAY Network, that customers’ needs and bank accounts can change over time. “This email is a friendly reminder to ensure their information is up to date,” the statement said.
According to a spokesperson for the Fiscal Agency, “This support has nothing to do with fraud.”
According to a statement provided to the Detroit Free Press, “The purpose of the email is to maintain the integrity of Treasury Direct accounts by prompting customers to confirm their bank account and contact information. This ensures that future payments are routed to their desired bank account and allows Treasury to contact customers if necessary.”
The bottom of the email also includes a note that says, “You can verify the authenticity of this email and learn more about why you received this email at https://www.treasurydirect.gov/savings-bonds/bankandcontactinfo/.”
Other TreasuryDirect emails sent in the past
This isn’t the first time TreasuryDirect has sent emails to some savers.
Treasury Direct sent a similar email in late January urging savers to verify their bank account information.
Additionally, the Treasury Department sent approximately 243,000 emails to remind customers of savings bonds that matured in 2024, according to a report submitted to Congress on March 11, 2025 by the Treasury Department’s Fiscal Service.
These emails resulted in more than 122,000 bond redemptions totaling more than $94 million, the report said. These efforts continue to increase reimbursements, according to a report to Congress.
The U.S. Treasury faces numerous challenges in returning unclaimed savings bonds to the right hands of consumers. In some cases, savers may not be able to keep their contact information up to date, making it difficult to find consumers. These emails may at some point solve part of that puzzle as well.
The latest email, sent in late June, tells savers they can see their bank account information on file by logging into TreasuryDirect.gov. You should type TreasuryDirect.gov directly into your web browser to avoid visiting potentially fraudulent sites.
On the TreasuryDirect.gov site, go to the (Account Information) tab. Once you are in the (Other Account Information) section, select (Banking Information). Your primary bank account will appear first in the list.
The email goes on to explain various scenarios. What if I need to add a new bank account? “Select the Add button, answer the security question, enter your new account details, and select the Submit button to save your new bank account.”
What if you need to delete a bank account that is not your primary? “Select the radio button to the left of the bank account you want to delete, click the (Delete) button, and answer the secret question. Bank accounts with verification holds cannot be deleted.”
For your convenience, this letter includes a link to a how-to video at https://www.treasurydirect.gov/indiv/tools-videos/edit-bank-account/.
How to contact TreasuryDirect
Granted, if it’s a scam email, you might think you should just ignore it. But you shouldn’t, especially if you think the Treasury Department is concerned about the lack of accurate bank account or other information.
The email also recommends checking your account’s contact information, including email, phone, and address, under the Account Information tab. To update that information, select the Edit button at the bottom of the screen.
Savers who are having trouble updating their account or who have forgotten the answer to a security question should call TreasuryDirect at 844-284-2676 from 8 a.m. to 6 p.m. Eastern Time, Monday through Friday. This number is toll-free.
Contact personal finance columnist Susan Tompol: stompor@freepress.com. follow himr X @tompor.
