Stay vigilant against fraudsters.
Scams are becoming increasingly sophisticated, making it essential to stay informed. Fraudsters often target individuals and businesses by exploiting trust and urgency. By understanding the tactics used and remaining alert, you can help protect yourself and your financial well-being.
red flags to identify fraud
Beware of:
- Urgent requests for immediate action
- Threats or intimidation
- Suspicious links or attachments
- Unconventional payment methods
common fraud scenarios
Look out for:
- Unusual emails, text messages or phone calls
- Unsolicited requests for sensitive information, like login credentials or security codes
- Too-good-to-be-true offers
Minimize the risk of fraud
Be sure to:
- Follow account password recommendations
- Regularly monitor your transaction history
- Enable Digital Banking security features and alerts
Be alert against
trending scams
The landscape of fraud is constantly evolving - which makes it important to familiarize yourself with the most popular scams and how to spot them.
Spoofing
What is spoofing?
Spoofing occurs when a fraudster disguises their communication as coming from a trusted source. This could be an email that looks like it's from your bank, or a phone call that appears to be from the fraud department. The goal is to trick you into providing sensitive information or to gain unauthorized access to your accounts.
How to detect it?
- Check the sender’s email address or phone number for discrepancies
- Be cautious of unsolicited communications asking for personal or financial information
- Verify any requests by contacting the company or person directly using a trusted contact method
Phishing
What is phishing?
Phishing is a tactic where fraudsters send emails, texts, or direct messages that appear to be from legitimate sources. These messages often contain links to fake websites designed to steal your personal information, such as passwords or credit card numbers. Always verify the sender before clicking on any link or providing any details.
How to identify it?
- Look for signs of poor spelling or grammar in messages
- Hover over links to check if the URL matches the legitimate website
- Be skeptical of unsolicited requests for personal or financial information
- Verify the legitimacy of the sender by contacting them through a known and trusted communication channel
Social engineering
What is social engineering?
Social engineering involves manipulating individuals into revealing confidential information. This could be through a phone call from someone pretending to be from the fraud department, or a message from a 'friend' in need. These scams rely on the human tendency to trust, so it's crucial to verify any unusual requests, especially if they involve sensitive data.
How to spot it?
- Be cautious of anyone requesting sensitive information, especially if they seem to be in a hurry or using high-pressure tactics
- Confirm the identity of the requester through a separate communication method
- Be wary of unsolicited calls or messages from individuals asking for personal or financial information
payment scams
What is a payment scam?
Payment scams trick you into making payments to fraudsters, often by posing as legitimate vendors or service providers. They may send fake invoices, request payments via unconventional methods, or even hack into email accounts to intercept legitimate transactions. Always confirm payment requests through a separate communication channel before proceeding.
How to protect yourself?
- Verify the legitimacy of payment requests through a separate and trusted communication method
- Be cautious of requests for payments through unconventional methods, such as gift cards or cryptocurrency
- Look for signs of altered or suspicious invoices and compare them with previous transactions
Five Star Bank will NEVER call, text or email you for login credentials or security codes.
