Some people have been convinced that their money is not safe, because on January 1, 2000, book-keeping computers at banks are supposedly going to shut down permanently. As with many other Y2k legends, this one is totally false. Unfortunately, this means that individuals will try to take advantage of these fears. Here are some examples.

  Telemarketers may urge you to withdraw your money from your bank accounts. They will encourage you to invest it in other markets, like silver, gold, or other things. It sounds real at first, but it is totally based upon the fact that some people are withdrawing money based on their Y2k fears.

  Individuals may also claim that they can "fix" your credit cards or ATM cards so that they will continue to function past New Year's Day 2000. They will ask for your account number and other information.

  There is also the fear that utility services will not operate at the beginning of the year 2000. Scam artists will try to sell survival kits, which may contain canned or dried food, bottled water, candles, or power generators.

  All of these are scams that prey on the emotions of individuals frightened by the upcoming New Year's Day. The fact is, after New Year's Day 2000, utility services will continue to operate, and banks will be doing business as usual--even if they will resort to "old-fashioned" methods.

Source: Los Angeles Times. July 19, 1999.