We have all heard the ads about stopping foreclosure or getting help with your mortgage payments but do we really know if these companies or their claims are legitimate? Fraudsters like to pray on people’s emotions and take advantage of someone in need. They will use phrases like “Stop foreclosure now!” or “We have special relationships with banks to speed up your approval process.” to get your attention then try to get your money. You can prevent fraud and scams simply by knowing about the different types of scams.
Most people looking at their bank statements would probably notice if their credit or debit card were used without their approval to purchase a big ticket item, and they would quickly call their bank or card issuer to report the error or fraudulent transaction. But consumers are less likely to be suspicious of very small charges, including those less than a dollar ... which is why criminals like to make them.
The COVID-19 pandemic continues to impact supply chains for countless industries around the world. Unfortunately, cybercriminals are using problems like shipping delays to their advantage. Recently cybercriminals started using the possibility of a delayed or missed shipment as phish bait.
Google recently removed a malicious app from their Google Play store. The app, “2FA Authenticator” was available for download for 2 weeks and was downloaded more than 10,000 times.
Banks are reporting customers are falling for a new form of fraud known as a money mule scam. People are recruited through Facebook or social media through what appear to be work-at-home jobs or other opportunities where they are lured as a money transfer agent (middle man). Victims of these scams are told they will receive deposits into their account with instructions on withdrawing the funds and forwarding money to a designated contact person. The victim is told they will receive a percentage of the proceeds as commission.
One of the biggest scams, we have seen at the bank, are scammers taking advantage of people looking for romantic partners, often via dating websites, apps or social media by pretending to be prospective companions. They play on emotional triggers to get you to provide money, gifts or personal details. We have seen a rise in these social engineering type scams also known as catfishing. They start with a simple friend request, wink or swipe and usually end in heartbreak and lost money.
Data Privacy Week is an annual campaign to spread awareness about data privacy and educate individuals on how to secure their personal information. This is also a great time to review how to manage and protect your valuable online data.
As Americans continue to venture online in greater numbers, Better Banks is offering practical tips during Cybersecurity Awareness Month to help safeguard sensitive data and mitigate losses in the event of a data breach or compromise.
Scammers use email or text messages to trick you into giving them your personal information. Below are some helpful tips from the Federal Trade Commision to help you protect yourself.
