In today’s digital landscape, fraud is more sophisticated than ever. Bad actors have several methods to make their communications seem authentic, from impersonating legitimate contact details to replicating physical traits of people you may know.
One of the best ways to protect yourself from falling victim is to stay skeptical of any situation involving your personal information or account access. Be suspicious of any email, text, or call you receive unexpectedly, especially those that attempt to create a sense of urgency or request information like your account numbers or social security number.
Last year, we covered ways to safeguard against fraudulent transactions. Below, we will dig into some of the methods that fraudsters are using to disguise their scams.
Caller ID Spoofing
Don’t trust caller ID as a foolproof method to verify the identity of the caller. Scammers can manipulate phone numbers to appear as if they’re from a trusted source, deceiving you into thinking you’re speaking with a trusted individual.
Voice Generation
Don’t rely on the voice you’re hearing on the other side to be authentic. Voice generation technology has advanced to the point where it can create audio that closely resembles an individual’s voice using a surprisingly small sample.
Fraud Alerts
Exercise caution when responding to fraud alerts. Scammers may attempt to deceive you by calling and asking you to verify a fraudulent transaction via text. Their goal may be to trick you into authorizing the transaction instead of reporting it as fraud. Take the time to carefully read the message and respond appropriately based on your specific situation.
Link Impersonation
Before clicking on any links within your email ensure that the email is expected and from a trusted source. Verify that the email address is correct and not altered from what is normal for the sender. Scammers may change domain names very subtly, such as adding a lowercase l or other character to mimic the correct domain. Do not click on links or download attachments from suspicious or unsolicited emails.
The American Bankers Association® has some great resources from the Banks Never Ask That campaign, featuring tips and games on how to protect you and your family from scammers.
Staying vigilant against fraud is an ongoing effort in today’s digital age. Remember, if you ever feel unsure or suspicious about a communication, trust your instincts. If you feel there is something suspicious going on, hang up or cease electronic communication. Don’t hesitate to reach out to your branch directly using a trusted contact number if you have any concerns. By remaining cautious and proactive, we can better protect ourselves and our finances from falling victim to fraudulent schemes.
Karah Cowan, Director of Digital Banking and Deposit Operations
