Frequent Fraudulent Messages to Lookout For

Every year and with the increase in use of technology, cyber criminals have become savvier, improving their techniques to deceive and manipulate unsuspecting people.

There are a few types of scams that prey on people’s emotions and cause vigilance to go right out the window.

Act NOW scams take advantage of the vulnerability of the victims.

Too Good to be True Scams are another technique cyber criminals use to commit fraud. If it sounds too good to be true, chances are, it probably is.

Sales Scams take advantage of people in the marketplace. Looking for something to purchase? It is crucial to verify the source of the seller before making any type of payment.

It’s important to be aware that these scams aren’t just happening to us as individuals, but also to our loved ones. Elder financial exploitation is extremely common and can be prevented with help from you and their financial institution.

So, what messages could we (or our loved ones) receive that should throw up a red flag?

Let’s show you some examples:

“We suspect an unauthorized transaction on your account. To ensure that your account is not compromised, please click the link below and confirm your identity.”

“During our regular verification of accounts, we couldn’t verify your information. Please click here to update and verify your information.”

“Our records indicate that your account was overcharged. You must call us within 7 Days to receive your refund.”

These are just a few examples of the language scammers may use to initiate an attack on your financial well-being.

Never hesitate to reach out to your financial institution immediately for guidance when you receive or accidentally fall victim to a scam like any of the above.

Having a relationship with a community bank is a great idea in these situations as helping to keep their customers safe is a high priority in these institutions.

LEARN MORE ABOUT HOW CUSTOMERS CAN BENEFIT FROM WORKING WITH A COMMUNITY BANK

Things to keep in mind regarding fraud:

• Gift cards are untraceable and make it easy for scammers to launder funds. Once the scammer receives the barcodes, the cards are drained, and your money is gone.
• Scammers who overpay by check are usually using fraudulent checks. They will request the excess portion of the check be sent back to them, leaving you with the loss once the check comes back as fraudulent.
• When dealing with wire payments, always doublecheck that the remitter on the wire corresponds with you who are working with. Once the money is sent, it cannot be recalled.

To learn more about some of the latest scams cybercriminals are performing, click here.