October is Cybersecurity Awareness Month, a time dedicated to educating individuals and organizations about the importance of protecting their digital lives[4]. This initiative encourages everyone to adopt safer online habits, such as using strong passwords, enabling two-factor authentication and being cautious of phishing attempts. By raising awareness, the goal is to reduce the risk of cyber threats and promote a culture of security in our increasingly digital world[4].

Simultaneously, the Medicare Open Enrollment period from October 15 to December 7 sees a rise in Medicare scams. Scammers often pose as Medicare representatives to steal personal information. Common tactics include offering new Medicare cards, cheaper plans or claiming urgent updates are needed. It’s crucial to remember that Medicare will never call unsolicited to request personal information or payment details. Staying informed and vigilant can help protect against these scams and ensure that beneficiaries’ and your information remains secure[1][2][3].

Prompt Reporting: If you feel you have fallen for a scam or suspect your accounts or identity have been compromised, report the incident immediately. RCB Bank customers can contact us at 855-226-5722 during business hours or visit RCB Bank Security Center website for detailed information. Need to contact RCB Bank Fraud Department on the weekend? Contact us at 877-361-0814 Saturday 8:00 a.m. – 4:00 p.m. CST or Sunday 8:00 a.m. – 12:00 p.m. CST (excluding Federal Holidays).

Contact other reliable sources such as the FBI and file a complaint at ic3.gov to contribute to efforts against these fraudulent activities.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources:

[1] 5 Warning Signs of a Medicare Scam—and How to Protect Yourself | https://www.ncoa.org/article/5-warning-signs-of-a-medicare-scam-and-how-to-protect-yourself/  

[2] October 2023 Scam of the Month | https://encoreministry.org/october-2023-scam-of-the-month-medicare-scams-to-avoid/

[3] Medicare Fraud Prevention Week 2024 | https://acl.gov/MFPW24

[4] Cybersecurity Awareness Month | https://www.cisa.gov/cybersecurity-awareness-month

As the holiday season approaches, scammers are gearing up to exploit your generosity through charity fraud. Don’t let these Grinches steal your holiday spirit or your hard-earned money. Here’s how to protect yourself from charity scams this season.

First, be wary of high-pressure tactics. Legitimate charities won’t rush you to donate immediately. Take your time to research before giving. Use trusted resources like BBB’s Wise Giving Alliance or Charity Navigator to verify the organization’s legitimacy[1].

Pay attention to how they ask for donations. Red flags include requests for cash, wire transfers or gift cards[3]. These payment methods are hard to trace and favored by scammers[1].

Second, be cautious of charities with names similar to well-known organizations. Scammers often use this trick to appear credible. Double-check the charity’s name website and contact information carefully[3].

Don’t let emotions cloud your judgment. While heart-warming stories can be compelling, resist the urge to donate on the spot. Legitimate charities will appreciate your donation just as much tomorrow or next week[1].

Third, watch out for unsolicited emails or text messages claiming to be from delivery services about incoming or missed packages. These are often phishing attempts to steal your personal information[2].

Remember you can use the IRS Tax Exempt Organization Search tool to verify if an organization is a legitimate tax-exempt charity[3]. Never share personal information like your Social Security number with someone soliciting donations.

By staying vigilant and doing your homework you can ensure your generosity reaches those truly in need this holiday season. Don’t let scammers dampen your holiday spirit – give wisely and safely.

Prompt Reporting: If you feel you have fallen for a scam or suspect your accounts or identity have been compromised, report the incident immediately. RCB Bank customers can contact us at 855-226-5722 during business hours or visit RCB Bank Security Center website for detailed information. Need to contact RCB Bank Fraud Department on the weekend? Contact us at 877-361-0814 Saturday 8:00 a.m. – 4:00 p.m. CST or Sunday 8:00 a.m. – 12:00 p.m. CST (excluding Federal Holidays).

Contact other reliable sources such as the FBI and file a complaint at ic3.gov to contribute to efforts against these fraudulent activities.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources:

[1] https://getcarefull.com/articles/how-to-avoid-charity-scams

[2] https://www.fcc.gov/beware-holiday-charity-scams

[3] https://www.irs.gov/newsroom/dirty-dozen-irs-warns-about-fake-charities-exploiting-taxpayer-generosity

Online and payday loan scams prey on individuals seeking financial assistance by promising loans in exchange for up-front fees. These scams are not only unlawful but can also severely damage an individual’s financial well-being.

One of the most common forms of loan scams is in the form of phishing emails, where thousands of fraudulent emails are sent out, urging recipients to confirm their bank account details. Unfortunately, many fall victim to these schemes, inadvertently providing hackers with the means to steal their money.

The criminals behind these scams often entice potential victims by offering loans without considering their credit history or employment status. Once victims respond to these offers, scammers proceed to solicit financial information, putting victims at further risk.

It’s essential to be wary of any requests for up-front fees or payments. Legitimate personal loans do not require payment before disbursement; any fees are typically included within the loan amount upon funding.

Additionally, any directories that list banks may not necessarily be affiliated with them, highlighting the reason for caution and verification. Legitimate personal loan companies and lenders must be registered in the states where they operate. Failure to register suggests illegal lending practices or outright scams. A good place to start your search is checking out the Better Business Bureau.

If you suspect you’ve fallen victim to a loan scam or have inadvertently shared your financial information, it’s crucial to notify your bank immediately. Prompt action can help safeguard your accounts and prevent further financial harm.

Remember: Stop, Think and Don’t Be Fooled. Stay vigilant against loan scams to protect your financial security.

For more information on protecting yourself from fraud, visit RCBBank.bank/Security or contact the Fraud Department at 877.361.0814.

The opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. RCB Bank, Member FDIC.

Sources:

Using Data Aggregators vs. Actively Managing Local Directory Listings. Using Data Aggregators vs. actively managing local directory listings. (2023). https://www.searchoptics.com/blog/using-data-aggregators-vs-actively-managing-local-directory-listings

Wedell, K. (2022, September 4). “predatory” payday loan scammers thrive with stolen data, BBB says. what to watch out for. USA Today. https://www.usatoday.com/story/money/2022/08/31/payday-loan-scams/7953234001/

What to do if you were scammed. Consumer Advice. (2024, March 5). https://consumer.ftc.gov/articles/what-do-if-you-were-scammed

There has been a drastic increase in mobile device fraud. Do NOT click on anything that you’re not expecting to receive. Learn about the hazards of falling victim to cell phone fraud and how to mitigate the risks below.

How mobile device fraud works: The fraudster will send a text message directing you to “click here.” This action may or may not download malware to your cellular device. The link can also forward your phone and its information. The information the fraudster gains could allow them to imitate you by accessing your data.

How can I stop it? If your cell phone has been compromised or stops working, please visit your cell phone provider. Explain that you may be experiencing a SIM swap and need your SIM turned off immediately and replaced.

How to minimize phone fraud risks: Do NOT click on any links that you are not expecting to receive. Questions you need to always ask yourself about links in emails or texts:

• Were you expecting this message and link?
• Is it from someone you trust?
• Does the email/phone number match the contact information that you have for that person?

If any of your answers to the above questions are no, then you need to contact that person using a separate method from how you received the notification to verify whether the message is legitimate.

By following these simple steps, you may navigate safely through texts and emails while protecting your personal information from potential risks. In case you have already fallen victim to a scam, steps can be taken to mitigate further harm. Victims should contact the FBI through ic3.gov to report identity theft, reach out to their bank’s fraud department and remain vigilant against future scam attempts. You can call RCB Bank Fraud at 855-226-5722 or visit our Security Center.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sweetheart Scams occur when individuals are misled into believing they have formed genuine relationships with deceptive scammers. Once trust is established, these individuals exploit victims emotionally, financially and for personal information. The proliferation of online dating and social media has made it easier for such scammers to find innocent targets. Falling victim to this scam can be anything but “sweet,” so it’s essential to stay vigilant to prevent it from happening.

To safeguard your journey in love, consider these essential tips:

• Be careful what you post online and make it public, scammers can use this information against you.
• Beware of fake profiles as scammers can steal photos from real accounts and pose as anyone. Always research profiles to see if they have been used elsewhere.
• Scammers can pose as military personnel so always ask a lot of questions to try to verify the story being shared.
• Be wary if your new sweetheart can never meet “in-person” as this is a red flag that they may not have good intentions.
• Never send anyone money whom you have met online or via the telephone.

Prompt Reporting: If you feel you have fallen for a scam or suspect your accounts or identity have been compromised, report the incident immediately. Contact reliable sources such as the FBI and file a complaint at ic3.gov to contribute to efforts against these fraudulent activities.
RCB Bank customers can contact us at 855.226.5722 during business hours or visit the RCB Bank Security Center for detailed information.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources:  FBI. (2024). Romance scams | Federal Bureau of Investigation.
https://www.fbi.gov/how-we-can-help-you/safety-resources/scams-and-safety/common-scams-and-crimes/romance-scams

Data Privacy

In the digital age, the internet acts as a bustling superhighway, offering us a myriad of opportunities to connect and explore. However, this ever-growing landscape also serves as a prime hunting ground for scammers seeking to pilfer personal information. As we approach January 28th, designated as National Data Security Day, it becomes crucial to navigate this virtual highway with caution.

To safeguard your digital journey, consider these essential tips:

• Upgrade your defenses: Lock down all your devices, networks, and personal information to thwart potential disasters.
• Security Updates: Keep your devices secure by consistently updating security software, operating systems, and browsers.
• Password Strength: Create robust passwords and refrain from sharing them. The strength of your defense often lies in the complexity of your passwords.
• Multi-Factor Authentication: Opt-in for multi-factor authentication when available, adding an extra layer of protection to your accounts.
• Prompt Reporting: If you suspect your accounts or identity have been compromised, report the incident immediately. Contact reliable sources, such as the FBI to file a complaint at ic3.gov to contribute to efforts against these fraudulent activities.
  RCB Bank customers can contact us at 855.226.5722 during business hours or visit RCB Bank Security Center website for detailed information.

Tax Scams

As tax season approaches, the risks of scams escalate. Scammers will exploit various channels, including mail, phones and emails to deceive individuals. Be wary of enticing offers that seem too good to be true, especially those claiming to be from the IRS. Remember, the IRS will never contact taxpayers through email, text messages or social media to request personal information. Recent scams to be cautious of include false claims related to Employee Retention Credits, third-party online account assistance, fraudulent fuel tax credits and fake charities.

Protect yourself with these additional tips:

• Verify Sources: The IRS does not send threats or prerecorded messages with warrants of arrest.
• Secure Payment Methods: The IRS does not accept prepaid debit cards, wire transfers, or debit cards over the phone.
• Verify Tax Preparers: Ensure the legitimacy of tax preparers by checking their name and tax identification number on the return.

By adopting these measures, you can navigate the digital superhighway securely by protecting your personal information from potential threats. This National Data Privacy Day let’s prioritize online safety and fortify our defenses against cyber threats.

In case you have already fallen victim to a scam, steps can be taken to mitigate further harm. Victims should contact the FBI through ic3.gov to report identity theft, reach out to their bank’s fraud department and remain vigilant against future scam attempts.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources:

Internet Crime Complaint Center(IC3) | Home Page

FPC. (2023). FPC.gov. https://www.fpc.gov/data-privacy-day-2021/

Cryptocurrency, or “crypto,” has surged in popularity, with digital currencies like Bitcoin gaining widespread use. However, this popularity has also made it a target for scammers, leading to consumers losing over $1 billion to crypto scams in the first half of 2022, as reported by the Federal Trade Commission (FTC).

The appeal of crypto for scammers lies in its decentralized nature, the irreversible nature of transactions and the general lack of understanding among most people about how crypto operates. The absence of a centralized authority to flag suspicious transactions makes it an attractive playground for fraudsters.

Scammers employ various methods to initiate contact with potential victims, such as email phishing, SMS text messages (smishing), phone calls, packages and social media. They often use personal information to target victims or even imitate someone known to the victim. One common tactic is to promise unrealistically high returns on crypto investments.

The process involves instructing victims to convert US dollars into Bitcoin and send it to a specific digital address, frequently using Bitcoin ATMs for the transaction. Once the funds are transferred, the irreversible nature of crypto transactions leaves victims with no recourse.

To avoid falling victim to crypto scams, consumers are advised to exercise caution when dealing with cryptocurrency transactions. Running transactions through professionals like banks, CPAs or tax professionals can help verify legitimacy. Additionally, individuals should not send money on behalf of others and extra scrutiny is needed for checks received via non-USPS mail services.

If a situation seems suspicious, consulting trusted advisors is crucial. Scammers often employ tactics like repeated contact, harassment and pressure to prevent victims from seeking advice or reporting the situation to authorities.

In case you have already fallen victim to a scam, steps can be taken to mitigate further harm. Victims should contact the FBI through ic3.gov to report identity theft, reach out to the bank’s fraud department, and remain vigilant against future scam attempts.

Overall, the rise in crypto popularity has brought about a parallel surge in scams, making it imperative for consumers to educate themselves, exercise caution and seek professional advice before engaging in cryptocurrency transactions.

For more detailed information please visit RCB Bank website at the RCB Bank Security Center.

Source:

Fletcher, E. (2022, August 11). Reports show scammers cashing in on crypto craze. Federal Trade Commission. https://www.ftc.gov/news-events/data-visualizations/data-spotlight/2022/06/reports-show-scammers-cashing-crypto-craze

As winter approaches and holiday travel plans take center stage, winter wanderers must be on high alert for potential scams lurking in various forms. From deceptive emails to cunning calls and enticing social media posts, scammers are ramping up their efforts to exploit the joyous spirit of the season. Here’s how to navigate the winter wonderland of travel without falling prey to fraud.

Social Media
Social media, a hub for festive cheer, is also a breeding ground for travel scams. Criminals imitate well-known hotels and resorts online, but their sites include misleading information, such as fake hyperlinks and phone numbers. Eager holiday-goers may find themselves making payments for dream getaways that exist only in the virtual realm leaving them empty-handed and out of pocket.

Robocalls
Robocalls, often associated with automated holiday greetings, can also mask sinister intentions. If your phone rings with an automated message, especially regarding travel, the safest bet is to hang up promptly. Legitimate travel agencies steer clear of robocalls, making them a clear red flag for potential scams.

Allow your winter travel experiences to be filled with pleasure and amazement, rather of the traps of frauds. Stay vigilant, stay informed, and ensure your winter holidays are as magical as they should be.

Booking Sites
Before booking winter travel offers, diligent research on the company is essential. While reviews and ratings provide insights, individual needs differ. Beware of seemingly irresistible deals, such as complimentary airline tickets, as scammers use these as bait to hook unsuspecting victims.

Cancellation Policies
Protect your winter escapades by always securing a receipt and understanding cancellation policies before confirming any reservations. Having these policies in writing serves as a crucial record should disputes arise later.

Wi-Fi Connections
As snow blankets landscapes, scammers attempt to cover their tracks with fraudulent schemes. Regularly monitor your financial accounts for any suspicious activity. Embrace the convenience of online banking but do your best to steer clear of public Wi-Fi networks that could compromise your security. Because they are vulnerable, public Wi-Fi networks present a serious threat. Visit RCB Bank Online Banking Tools here.

Planning a winter getaway? Alert your bank in advance. Provide details about your destinations and travel dates to ensure smooth financial transactions without unexpected disruptions.

Should the unfortunate happen and you find yourself entangled in a travel scam, swift action is imperative. Contact our RCB Bank support team at 1.855.226.5722 on weekdays between 8:00 a.m. and 6:00 p.m. CST. For weekend assistance, dial 1.877.361.0814 on Saturdays from 8:00 a.m. to 4:00 p.m. and Sundays from 8:00 a.m. to 12:00 p.m. (excluding Federal Holidays). Additionally, contribute to combating fraud by filing a complaint with the FBI at ic3.gov.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources:

wDiller, N. (2023, May 30). Booking travel online? here’s how you can avoid scams. USA Today. https://www.usatoday.com/story/travel/2023/05/30/how-to-avoid-online-travel-booking-scams/70262016007/

Rayo, A. (2023, December 8). Stay scam free, no matter how Far away you roam. Consumer Advice. https://consumer.ftc.gov/consumer-alerts/2023/11/stay-scam-free-no-matter-how-far-away-you-roam

During the holiday season, online shopping has become an essential element of the holiday experience. Still, even though online markets are convenient, you should be careful when using them. Here are some helpful hints for having a pleasant online buying experience and avoiding scams:

Track Your Packages: Whenever you make a purchase online, make sure to get a tracking number. This not only confirms the shipping but also permits tracking throughout the whole delivery process, providing greater transparency.

Verify Buyers and Sellers: Make verifying the authenticity of the people you interact with online a top priority. Be sure to check the feedback ratings on any online marketplaces or auction platforms you use and stay away from sellers that have poor or no ratings at all.

Beware of Unusual Payment Requests: Be wary of sellers who require payment exclusively through gift cards or wire transfers. This is a red flag and you should steer clear of such dealers. Such requests can be red flags for potential scams, allowing criminals to swiftly access illicit funds.

Too Good to Be True Deals: When you come across deals that look too good to be true, you should proceed with extreme care. Con artists frequently use alluring deals to trick consumers into falling for their schemes by capitalizing on their desire for holiday discounts. Exercise caution when encountering deals that seem too good to be true.

Monitor Financial Statements: You should keep an eye on your bank and credit card statements on a regular basis, especially after making purchases online and in the weeks immediately following the holiday season. Utilize mobile apps for convenient and prompt account monitoring. Like RCB Bank’s convenient  BankAnywhere options!

Guard Personal Information: Under no circumstances should you reveal sensitive information such as your date of birth or your Social Security number to unknown parties. The protection of personal data is of the utmost importance in the fight against identity theft. Protecting personal data is paramount in preventing identity theft.

Steer Clear of Suspicious Emails and Links: Avoid downloading suspicious attachments from unwanted emails and refrain from clicking on links in those communications. There is a possibility that you are falling victim to a con that is intended to steal your identity. Always use caution and be sure the information or message you get is legitimate.

If, unfortunately, you fall prey to a holiday scam, take immediate action. Contact RCB Bank at 877.361.0814, inform local law enforcement, and file a complaint with the IC3 at ic3.gov. Vigilance and proactive measures are the keys to a secure online shopping experience this holiday season.

Terms, qualifications and fees may apply. Full details at rcbbank.bank/BankAnywhere. Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources: DiNardi, G. (2023, November 7). How to avoid Black Friday & Cyber Monday Scams (2023). RSS. https://www.aura.com/learn/black-friday-cyber-monday-scams

 Leonhardt, M. (2020, November 23). 10 ways to protect yourself against scams during Black Friday and cyber-Monday. CNBC. https://www.cnbc.com/2019/11/24/ways-to-protect-against-black-friday-and-cyber-monday-scams

As we conclude October’s Cybersecurity Month, it is essential to reinforce the importance of safeguarding both yourself and your financial institution, such as RCB Bank, against the ever-present threat of phone-based social engineering. This form of cybercrime preys on trust and human vulnerability, making it crucial for individuals and institutions to stay vigilant.

Here are some final tips to keep in mind:

Verify Identities: When receiving phone calls requesting sensitive information, always take the time to verify the caller’s identity. Do not be hasty in sharing personal or financial details. To ensure that you are speaking with a legitimate representative, consider calling back using official contact details that you obtained independently from trusted sources.

Educate Yourself and Others: Knowledge is a powerful weapon against social engineering. Stay informed about common tactics employed by cybercriminals who aim to deceive you over the phone. Share this knowledge with friends and family to create a network of individuals who are equally vigilant. Protecting your circle can go a long way in thwarting potential threats.

Enable Multi-Factor Authentication (MFA): One of the most effective ways to enhance the security of your personal accounts is by enabling Multi-Factor Authentication (MFA). MFA adds an extra layer of protection by requiring more than just a password for access. Whenever possible, activate MFA on your accounts to make it significantly harder for cybercriminals to breach them.

Exercise Caution Online: Be cautious about sharing personal information on social media or other online platforms. Cyber attackers often exploit the information they collect from platforms such as Facebook, Instagram, LinkedIn, and others to craft convincing schemes. Protect your personal data online to make it more challenging for malicious individuals to target you.

Report Suspicious Calls: If you ever receive a suspicious phone call related to your RCB Bank account(s), it is imperative to report it promptly to RCB Bank. You can reach us at 855.226.5722. Timely reporting of such incidents can help the bank take action to protect your accounts and investigate potential threats.

Phone-based social engineering is a persistent threat that preys on trust and human vulnerability. By understanding the tactics used by attackers and remaining vigilant, you can protect both yourself and your financial institutions. Remember that skepticism is a valuable defense, and it is essential to prioritize your security over convenience when dealing with phone calls from unknown or suspicious sources. Cybersecurity is a shared responsibility and staying informed and cautious is key to defending against these threats.

Cybersecurity is a shared responsibility. By staying informed, you can enhance your digital defenses and protect yourself from the evolving landscape of cyber threats. Remember, vigilance is your greatest asset in the battle for digital security.

If you feel or think you detect fraud or are a victim of fraud call us at 855.226.5722 or visit our website RCBBank.Bank and click on Security Center for a variety of methods to keep you and your money safe and to stay up to date.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources: Risukhin, A. (2023, May 9). Social Engineering: What it is and how to protect yourself. ClearVPN. https://clearvpn.com/blog/what-is-social-engineering/

Our phones have evolved beyond mere communication devices, transforming into powerful tools for social engineering. Phone-based social engineering is a sophisticated threat that manipulates individuals into revealing confidential information or engaging in actions that compromise security. Recognizing the warning signs of these deceptive tactics is crucial to safeguard your personal and financial information.

Unsolicited Calls: One of the primary red flags is receiving unsolicited calls, especially from unknown numbers. These calls often involve requests for sensitive information or demands for immediate action. Scammers count on the element of surprise and pressure, making it essential to approach such calls with caution. Always verify the caller’s identity before sharing sensitive data or complying with their demands.

Urgency and Fear Tactics: Scammers are adept at creating a sense of urgency or fear, which puts their victims on the defensive. They aim to coerce individuals into making hasty decisions by inducing panic or stress. In these situations, taking a moment to pause and assess the call’s legitimacy is paramount. Legitimate organizations don’t resort to fear tactics to obtain your information.

Caller ID Spoofing: Another technique cybercriminals use is caller ID spoofing. Attackers can manipulate caller IDs to make it seem like they are calling from a trusted source, such as a bank or government agency. As such, never rely solely on caller ID information to determine the authenticity of a call. Always ask questions and verify the caller’s credentials independently.

Information Verification: Beware of callers who ask for personal or financial information over the phone, even if they claim to represent a legitimate organization. Legitimate institutions will typically offer alternative means of communication or verification. Only disclose your information over the phone if you know the caller’s identity.

Inconsistencies: Inconsistencies within the call, such as contradictory information or a caller who avoids answering direct questions, are often clear indicators of a scam. If something feels off during the conversation, trust your instincts. Cybercriminals rely on confusion and misdirection to achieve their goals.

Cybersecurity is a shared responsibility. By staying informed, you can enhance your digital defenses and protect yourself from the evolving landscape of cyber threats. Remember, vigilance is your greatest asset in the battle for digital security.

If you feel or think you detect fraud or are a victim of fraud call us at 877.361.0814 or visit our website RCBBank.Bank and click on Security Center for a variety of methods to keep you and your money safe and to stay up to date.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources:

Delesline, N., & Carlton, G. (2022, June 2). What, exactly, is cybersecurity? and why does it matter? ZDNET. https://www.zdnet.com/education/computers-tech/what-is-cybersecurity-and-why-cybersecurity-matters/

LaPonsie, M. (2019, May 3). 10 most common phone scams to look out for – U.S. news. https://money.usnews.com/money/personal-finance/family-finance/articles/most-common-phone-scams

Slandau. (2022, March 28). 14 phishing Red Flags for 2022, CyberTalk.org phishing. CyberTalk. https://www.cybertalk.org/2022/02/28/14-phishing-red-flags-to-watch-for-in-2022/

In the digital age, deception has evolved into an artform, and phone-based social engineering has emerged as one of its most cunning creations. Deceptive tactics employed by these attackers often involve the impersonation of trusted entities or individuals to gain the trust of their unsuspecting victims. Let’s take a deeper dive into the intricate web of deception that these cybercriminals create.

Phishing Calls: Scammers are masters at deception who frequently disguise themselves as legitimate institutions such as banks or government agencies. Armed with a persuasive tone and a knack for manipulation, they call individuals with the intention of extracting sensitive information like Social Security numbers and credit card details. These calls, seemingly benign at first, can lead to disastrous consequences, with personal finances hanging in the balance. Phishing – What is it?

Vishing (Voice Phishing): Vishing is the darker, vocal sibling of phishing. Criminals employ a range of tactics in this malicious endeavor. They might deploy pre-recorded messages that demand immediate action or pose as authoritative figures like IT support or even law enforcement. The intention is to confuse individuals into revealing personal information or coercing them into transferring their hard-earned money into the pockets of these unscrupulous characters.

Pretexting: For attackers, crafting convincing backstories or pretexts is second nature. Impersonating a coworker in need of information for a supposed work-related task, these criminals exploit human empathy and trust. The victims, never suspecting the deceit, end up divulging sensitive data that can be exploited to the attacker’s advantage.

Impersonation: Some of these fraudsters take their deception to the next level, going to great lengths to mimic voices, mannerisms, and emotional tones. They may pose as a distressed family member or a colleague urgently seeking assistance. These emotionally charged calls prey on the victim’s sense of responsibility and sympathy, leading them down a treacherous path of deception.

Spear Phishing: In targeted attacks, these cybercriminals invest time in researching their victims. Armed with an extensive dossier, they craft highly personalized messages or calls. These communications reference specific events, acquaintances or people in the victim’s life, making them appear incredibly legitimate. This personalized touch elevates the deception to an entirely new level.

The world of phone-based social engineering is fraught with danger, where trust is leveraged as a weapon and deception reigns supreme. It’s imperative for individuals to remain cautious and verify the authenticity of callers before divulging any sensitive information, for the art of deception knows no bounds in the digital realm.  A Word of Caution About Fraud

Cybersecurity is a shared responsibility. By staying informed, you can enhance your digital defenses and protect yourself from the evolving landscape of cyber threats. Remember, vigilance is your greatest asset in the battle for digital security.

If you feel or think you detect fraud or are a victim of fraud call us at 877.361.0814 or visit our website RCBBank.Bank and click on Security Center for a variety of methods to keep you and your money safe and to stay up to date.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources:

Cahill, E. (2023, July 13). Phishing, Smishing and vishing: What’s the difference? Experian. https://www.experian.com/blogs/ask-experian/phishing-smishing-vishing/

Delesline, N., & Carlton, G. (2022, June 2). What, exactly, is cybersecurity? and why does it matter? ZDNET. https://www.zdnet.com/education/computers-tech/what-is-cybersecurity-and-why-cybersecurity-matters/

Jones, C. (2022, September 22). Phishing, vishing, SMiShing, whaling and pharming: How to stop social engineering attacks. Expert Insights. https://expertinsights.com/insights/phishing-vishing-smishing-whaling-and-pharming-how-to-stop-social-engineering-attacks/

In today’s digital age, the term “cybersecurity” has become synonymous with safeguarding our digital lives. It’s the shield that guards our critical systems and sensitive information from the relentless onslaught of digital threats. Cybersecurity is the practice of protecting critical systems and sensitive information from digital attacks. These attacks can take many forms, ranging from identity theft to sophisticated scams. Understanding these threats is the first step in fortifying your digital fortress.

One of the most horrendous forms of cyberattacks is identity theft. This occurs when someone wrongfully obtains and uses your personal information, often for financial gain. Criminals may make unauthorized credit card transactions, apply for loans in your name and social security number or commit other fraudulent activities. To shield yourself from these threats, consider the following precautions:

• Be vigilant: Never share personal information with unknown callers, texters, or email Verify the legitimacy of any organization before disclosing sensitive data.
• Strong passwords: Avoid easily guessable passwords, such as family names or pet names. Opt for complex combinations of letters, numbers, and symbols. Refrain from writing down or storing passwords electronically, as lost devices could compromise your security.
• Social media caution: Beware of oversharing on social media, as personal information gleaned from your profiles can be used against you. Visit: Online Quizzes
• Regular credit checks: Obtain your free annual credit report to ensure its accuracy and detect any suspicious activities early.

Scams come in various disguises, from romance and gift card scams to fake home repair offers and even imposters posing as trusted institutions like your bank. Here’s how you can avoid falling prey to scams:

• Verify charitable events: When approached with requests for donations or assistance related to disasters, always seek more information and ensure the legitimacy of the cause.
• If it sounds too good to be true: Apply the age-old adage. If an offer seems suspiciously generous or unrealistic, it probably is.
• Beware of contingencies: Never accept funds or sweepstakes winnings that require you to send money back. Legitimate winnings and gifts do not come with such conditions.

Cybersecurity is a shared responsibility. By staying informed and following these guidelines, you can enhance your digital defenses and protect yourself from the evolving landscape of cyber threats. Remember, vigilance is your greatest asset in the battle for digital security.

Visit our Security Center for a variety of methods to keep you and your money safe and to stay up to date.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources: Delesline, N., & Carlton, G. (2022, June 2). What, exactly, is cybersecurity? and why does it matter?. ZDNET. https://www.zdnet.com/education/computers-tech/what-is-cybersecurity-and-why-cybersecurity-matters/

Creating a strong password is crucial in today’s digital age to protect our personal and sensitive information. Hackers and cybercriminals are constantly evolving their techniques to crack passwords and gain unauthorized access to our accounts. A strong password acts as a barrier, making it significantly harder for them to succeed. It helps safeguard our online identities, financial data, and confidential information from being compromised. A strong password should be unique, complex, and difficult to guess. By investing time and effort into creating strong passwords, we can significantly reduce the risk of falling victim to identity theft, fraud, and other cybercrimes.

Creating a strong password is worth the effort

1. Use a combination of uppercase and lowercase letters: Start by choosing a password that includes a mix of uppercase and lowercase letters. This helps to increase the complexity of the password and makes it harder for hackers to guess.
2. Include numbers and special characters: To further strengthen your password, incorporate numbers and special characters such as: !, @, #, $, etc. This adds an extra layer of complexity and makes it more difficult for attackers to crack your password.
3. Avoid using common words or phrases: Avoid using common words or phrases that can be easily guessed. Hackers often use dictionary-based attacks to crack passwords, so it’s important to choose unique and uncommon combinations of words.
4. Make it long: The longer your password, the more secure it becomes. Aim for a minimum of 12 characters, but ideally, go for even longer passwords. Longer passwords are harder to crack, as they increase the number of possible combinations.
5. Use a password manager: Consider using a password manager to generate and store your passwords securely. Password managers can create strong, unique passwords for each of your accounts and store them in an encrypted vault. This way, you only need to remember one master password to access all your other passwords.

For more information on fraud and scams please visit our Security Center to stay up to date.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources: GCF Global. (n.d.). Internet safety: Creating strong passwords. GCFGlobal.org. https://edu.gcfglobal.org/en/internetsafety/creating-strong-passwords/1/#

The phone has become more than just a communication tool; it has become a powerful instrument for social engineering. Social engineering via phone involves manipulating individuals into revealing confidential information or performing actions that compromise their security.

The Art of Deception

Phone-based social engineering relies heavily on deception. Attackers often impersonate trusted entities or individuals to gain their target’s trust. Here are some common tactics they employ:

Phishing Calls: Scammers often pose as legitimate organizations, such as banks or government agencies, and call individuals to extract sensitive information like Social Security numbers or credit card details.

Vishing (Voice Phishing): Vishing involves manipulating victims through voice calls. Criminals may use pre-recorded messages or impersonate authority figures, like IT support or law enforcement, to trick individuals into revealing personal information or transferring money.

Pretexting: Attackers create convincing backstories or pretexts to manipulate victims into disclosing information. For instance, they might pose as a coworker seeking information for a work-related task.

Impersonation: Some attackers go to great lengths to mimic the voices and mannerisms of others. They may impersonate a family member in distress or a colleague in urgent need of assistance.

Spear Phishing: In targeted attacks, criminals research their victims to craft personalized messages or calls. These calls may reference specific events or people in the victim’s life, making them appear more legitimate.

Recognizing the Red Flags

Protecting yourself from phone-based social engineering begins with recognizing the warning signs:

Unsolicited Calls: Be cautious of calls from unknown numbers, especially if they request sensitive information or demand immediate action.

Urgency and Fear Tactics: Scammers often create a sense of urgency or fear to pressure victims into complying. Always take a moment to verify the caller’s identity.

Caller ID Spoofing: Attackers can manipulate caller IDs to appear as if they are calling from a trusted source. Never rely solely on caller ID information.

Information Verification: Be wary of callers who ask for personal or financial information over the phone, even if they claim to represent a legitimate organization.

Inconsistencies: If something about the call feels off, such as inconsistent information or a caller who avoids answering questions directly, it may be a red flag.

Protecting Yourself and The Bank

To safeguard against phone-based social engineering:

Verify Identities: Always verify the caller’s identity before sharing sensitive information.  Call back using official contact details obtained independently to ensure you’re speaking with a legitimate person.

Educate Yourself: Stay informed about common social engineering tactics and be vigilant. Share this knowledge with friends and family to protect them as well.

Enable Multi-Factor Authentication (MFA): Whenever possible, enable MFA on your personal accounts to add an extra layer of security.

Use Caution Online: Be cautious about sharing personal information on social media or other online platforms, as attackers may use this information against you.  Be aware that attackers utilize information they gather from FaceBook, Instagram, LinkedIn, and other social media platforms.

Report Suspicious Calls: If you receive a suspicious call for your RCB Bank account(s), report it to RCB Bank’s Fraud Department immediately. (1)877.361.0814

Phone-based social engineering is a potent threat that preys on trust and human vulnerability.  By understanding the tactics used by attackers and remaining vigilant, you can protect yourself. Remember that skepticism is a valuable defense, and always prioritize your security over convenience when dealing with phone calls from unknown sources.

For more information on fraud and scams please visit our Security Center to stay up to date.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources: Risukhin, A. (2023, May 9). Social Engineering: What it is and how to protect yourself. ClearVPN. https://clearvpn.com/blog/what-is-social-engineering/

Elder financial abuse is a growing concern that affects our society’s most vulnerable members. These crimes can devastate older adults’ financial well-being and emotional stability, leading to long-lasting consequences. While elder financial abuse is a year-round issue, recent data and trends indicate a concerning surge in incidents during the month of June.

Understanding Elder Financial Abuse

Elder financial abuse involves the unauthorized or illegal use of an elderly person’s funds, assets, or property. This form of abuse can take various forms, such as scams, identity theft, coercion or even misappropriation of funds by trusted individuals, including family members or caregivers. The toughest financial abuse happens within families and can be an alarming distressing situation. In such cases, family members, who are expected to provide care and support, instead exploit their position of trust to manipulate and control the elderly person’s finances for their own gain. It often goes unnoticed and unreported, as family members and the victim may feel ashamed, embarrassed or fearful of retaliation.

The Surge in June

While elder financial abuse occurs throughout the year, studies have revealed a notable increase in incidents during the month of June. Several factors contribute to this concerning trend:

1. Loneliness and Isolation: Many older adults experience increased feelings of loneliness during June, particularly if they have limited social connections or have lost loved ones. Scammers and abusers prey on these vulnerabilities, seeking to exploit the emotional state of isolated seniors.
2. Seasonal Scams: The arrival of summer, particularly the month of June, brings with it a surge in seasonal scams targeting seniors. These scams may involve fraudulent vacation offers, home improvement scams or even fraudulent charities soliciting donations.
3. Financial Events: June marks several significant financial events for older adults, such as the receipt of Social Security or pension payments, tax refunds or dividends from investments. These events provide opportunities for abusers to gain unauthorized access to funds or manipulate financial transactions.

Preventing and Combating June Elder Financial Abuse

Protecting our elders from financial exploitation requires a concerted effort from individuals, communities and authorities. Here are some crucial steps that can be taken to prevent and combat June elder financial abuse:

1. Education and Awareness: Raising awareness about the prevalence and tactics of elder financial abuse is essential. Elderly individuals and their families should be educated about common scams, warning signs and precautionary measures to ensure their financial well-being.
2. Communication and Support: Regular communication with older adults can help detect any signs of financial abuse. Family members, friends and neighbors should maintain open lines of communication and provide a support system to ensure the well-being of older adults.
3. Legal Protections: Governments and legislative bodies should enact and enforce robust legal protections for older adults, including stricter regulations for financial institutions and caregivers. Reporting mechanisms should be streamlined and accessible, making it easier for victims to report incidents of financial abuse.
4. Financial Literacy: Providing older adults with financial literacy programs can empower them to make informed decisions, recognize potential scams and manage their finances more effectively. Workshops, seminars and online resources should be made available to support their financial well-being.
5. Enhanced Security Measures: Financial institutions and service providers should implement enhanced security measures, such as multi-factor authentication and fraud alerts, to protect elderly customers from financial exploitation. Regular reviews of accounts and transactions can help identify suspicious activities promptly.

June elder financial abuse is a distressing phenomenon that demands our attention and action. As society ages, it is crucial that we take concrete steps to protect our elderly population from financial exploitation. By raising awareness, promoting education and implementing robust safeguards, we can create a safer environment for older adults, ensuring their financial security and preserving their dignity. Together, we can combat June elder financial abuse and safeguard the well-being of our cherished elders.

For more information on fraud and scams please visit our Security Center to stay up to date.

Sources:

CFPB. (n.d.). Reporting of suspected elder financial exploitation by financial institutions: An update to the 2016 advisory and recommendations. Consumer Financial Protection Bureau. https://www.consumerfinance.gov/data-research/research-reports/reporting-suspected-elder-financial-exploitation-financial-institutions-update-2016-advisory-and-recommendations/

Keene, V. (2023, March 6). Understanding and reporting elder fraud, abuse and financial scams. www.nolo.com. https://www.nolo.com/legal-encyclopedia/elder-abuse-financial-scams-against-29822.html

NCEA. (2023). World elder abuse awareness day. NCEA. https://ncea.acl.gov/WEAAD.aspx

NCO. (2021, February 23). The National Council on Aging. https://ncoa.org/article/get-the-facts-on-elder-abuse

By now, most people are aware of identity theft, and the importance of keeping your personal information away from those who intend to do harm with it. Many people might even know someone who has been the victim of identity theft, and the ordeal that came with it.

But what should you do if you discover your identity has been compromised? Or, what if you’re not sure, but think someone has gained access to your personal information? Acting quickly is key to avoiding damage to your credit status and avoiding your own personal nightmare.

Fortunately, there are options to help you in the event this happens. You can report identity (ID) theft to the Federal Trade Commission (FTC) online at IdentityTheft.gov or by phone at 1-877-438-4338.

The FTC says that if you report online, you will receive an ID theft report, which will help you prove to businesses that someone stole your identity. You will also get a recovery plan to assist you in fixing problems brought on by identity theft.

The Consumer Financial Protection Bureau (CFPB) says you can place a fraud alert or security freeze on your credit report by contacting the nationwide credit reporting companies: Equifax, Experian and TransUnion. The CFPB adds that when you place a fraud alert at one of those companies, it must notify the others.

Avoiding identity theft in the first place is obviously the goal, and something everyone needs to take seriously. However, if you do find yourself a victim, keep in mind that there are procedures in place to help you.

For more detailed information on how to report identity theft, visit the links below.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources:

https://www.usa.gov/identity-theft

https://www.consumerfinance.gov/ask-cfpb/what-do-i-do-if-i-think-i-have-been-a-victim-of-identity-theft-en-31/

Online quizzes sure seem like innocent fun. But before you take that next personality test, quick survey or “find out what type of BLANK you are” quiz, ask yourself: Do I know who’s gathering this information about me – and what do they plan to do with it?

The more information you share on these quizzes, the more you risk that information being misused, the Federal Trade Commission stated earlier this month.

A lot of the times, these quizzes and/or surveys will ask questions similar to the questions that are asked on online account security. Scammers can post a seemingly innocent quiz, then use your quiz answers to try and reset your online accounts, letting them steal your bank and other account information, the FTC warns.

One major way to protect your personal information — in addition to maintaining strong passwords and using multi-factor authentication — is to steer clear of online quizzes … or just don’t answer them truthfully, the FTC advises.

Another type of online quiz to be on the lookout for are quizzes that offer prizes for completion.

These quizzes may look official, giving gift cards as prizes to some of your favorite online establishments. And once you finish the quiz, you’ll be sent to a page where you are to enter your personal information so that the scammers can send you or award you your prize.

Once they have your personal information, coupled with some of the answers that were provided on the quiz, scammers can wreak havoc before you even know what happened.

If you suspect that an online quiz is a phishing scam, tell a friend. Then, report it to the FTC at ReportFraud.ftc.gov.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Source:

https://consumer.ftc.gov/consumer-alerts/2023/01/dont-answer-another-online-quiz-question-until-you-read

The Federal Trade Commission received 2.8 million fraud reports in 2021. The FTC also stated that fraud losses increased to more than $5.8 billion, a more-than 70% increase from 2020.

It’s no secret that fraudsters are constantly figuring out ways to try and scam you out of your money. And you can stay one step ahead of them by being informed. Staying informed is the best way to combat fraud.

The Association of Certified Fraud Examiners noted that the economic downturn will fuel new fraud risks, stating that scammers are more likely to commit fraud when economic conditions worsen.

With the rise of two-factor authentication as a way to protect your account, scammers now are pretending to be a company, calling you and asking for the two-factor authentication code after initiating a fake log-in. Once they have the code, they can access your account and change the information before you even know what is happening. Remember, companies will never ask you for your passwords OR your multi-factor authentication code. No matter how official they sound, NEVER give this information to anyone.

Another type of fraud predicted to rise this coming year is business emails being compromised. As more and more people are working remote, this type of fraud is expected to be commonplace this coming year. You may get an email that appears to be from your company’s president, asking about a payment that is overdue. The scammer then will provide you with an account to replace the payment information you already have on file.

Employment scams, while not new, are expected to rise again. Scammers will take advantage of people looking for a job, and those who are job hunting are susceptible to falling for the scam. The scammers typically will offer a remote job opportunity, and then will say the job is yours after you send them your banking login credentials and/or your account number, so they can pay you. But then they’ll have access to your account. And if you ever are asked to send money or refund money as a condition of employment, this is a surefire scam. Ignore it and move on.

Student loan fraud also is expected to rise. NEVER pay to apply for federal student loan relief. If you are ever contacted and asked for a payment, guaranteed approval or promised a quicker forgiveness process, you are being targeted by a scammer.

Staying vigilant and informed is the best way to combat fraud. Fraudsters constantly are adjusting their scamming methods as people become more informed. And remember, if it sounds too good to be true, it usually is.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources:

https://www.ftc.gov/news-events/news/press-releases/2022/02/new-data-shows-ftc-received-28-million-fraud-reports-consumers-2021-0

https://legacy.acfe.com/report-to-the-nations/2022/

https://c80211ea91bab460a01a-e73d423e7486dd5fc383150a57d2a8f5.ssl.cf1.rackcdn.com/20221011-Andi-McNeal-1280×720.mp4

https://consumer.ftc.gov/articles/use-two-factor-authentication-protect-your-accounts

Holiday shopping season is here, which means more spending – and more fraud.

It’s no coincidence that the busiest season for shopping coincides with the highest period for fraud. Every day, fraudsters target consumers with an array of legitimate seeming propositions. But during the holidays, fraudsters make extra efforts to trick and defraud consumers. Every year, according to the Federal Bureau of Investigation, thousands of people become victims of holiday scams. Scammers can rob you of your hard-earned money and personal information and destroy holiday cheer.

Here are the top three fraud threats coming this holiday season:

Fake Retail Sites

Are you seeing a deal that’s too good to be true? That might be because it is. Fake retail sites are websites set up to look like real merchants (including well-known brands), but actually lead to a fraudster-held account. Fake retail sites have become especially popular in the age of social media, where posts and accounts look legitimate but are not.

What to Watch Out For: Domain name and or website copy contains misspellings, IP address is non-U.S., website doesn’t have a HTTPS (secured) URL, or generally looks off.

Mystery Shopping

Everyone is looking to pick up a little extra cash this time of year. Mystery shopping scams (or secret shopping scams) take advantage of that desire by luring victims into job opportunities where they “test” products and services but are first required to pay the employer for a fee or license. In reality, the job doesn’t actually exist.

What to Watch Out For: Shopping or dining-related job opportunities that require you to pay the employer first, wiring money to your employer or depositing a check into your bank account on their behalf.

Charity Scams

Scammers are always finding new lows. Charity scams take advantage of our generosity. Fraudsters pose as a legitimate charitable organization and steal donations before they’re discovered.

What to Watch Out For: High-pressure pitches through phone, email or in-person; to donate, go to accredited charities.

And always remember – even during the Christmas season – if it seems too good to be true, it probably is.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Source:

https://www.fbi.gov/how-we-can-help-you/safety-resources/scams-and-safety/common-scams-and-crimes/holiday-scams

If you’re in the market for a loan, one tactic some unscrupulous lenders use is what’s called “yo-yo financing.”

A yo-yo financing scam happens when a borrower agrees to a loan and signs a contract. But after the contract is signed, a few days or weeks later, the lender will call you and say that your financing wasn’t approved and they no longer can offer you the agreed-upon rate.

The lender will then try to renegotiate the loan or the offer will be completely rescinded. They’ll then offer a new rate that has a much higher rate and higher monthly payments.

The up and down is much like a yo-yo, which is how the scam gets its name.

It is important to be aware of this tactic so you don’t become a victim.

Here are some tips to avoid yo-yo scams:

• Don’t agree to the loan until you’re ready. If you’re not ready for the loan, don’t let the lender pressure you into taking one.
• The Federal Trade Commission advises when getting a loan to ask if the deal is final, and, if the lender says yes, to get it in writing.
• Read the fine print. If you see something that doesn’t look correct, ask the lender to explain it in further detail.
• Don’t be afraid to walk away. If you’re not getting a good feeling from the lender, just leave. It’s better to walk away than to be subjected to a yo-yo scam. You’ll save your valuable time in the process.

If you believe you’ve been a victim of a yo-yo scam, visit the FTC’s website and fill out a complaint form at http://reportfraud.ftc.gov. After submitting a complaint, you may be contacted for more information.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources:

https://consumer.ftc.gov/media/79933

https://www.ftc.gov/business-guidance/blog/2016/09/deal-or-no-deal-ftc-challenges-yo-yo-financing-tactics

There are so many types of fraud, it’s hard to keep up with them all. That’s why it’s important to stay vigilant at all times to protect yourself from scammers.

Fraudsters know the more that people become aware of their scams, the less likely they are to work. So they are constantly adapting their techniques.

One newer scam that has seen a sizable uptick over the summer is smishing.

What is smishing? It’s similar to phishing. But instead of an unsolicited email, it’s through text messaging. The term smishing is a mashup of SMS – short messaging service (i.e. text messages) – and phishing.

A typical smishing message will seem like it’s from a bank, but it’s not just limited to fake banking messages. Recently, the United States Postal Service issued a media release warning against unsolicited text messages claiming that a USPS delivery needs immediate response. Other messages may appear to be from Costco, Home Depot, Amazon or other retailers.

No matter where the message says it’s from, one thing holds true – scammers are trying to gain your personal information.

The scammers are hoping to receive information such as: account usernames and passwords, Social Security number, date of birth, credit and debit card numbers, personal identification numbers (PINs) or other sensitive information. This information is used to carry out other crimes, such as financial fraud.

If you feel like the message may truly be authentic, you should still verify before sending information. If you get a text purportedly from a company or government agency, check your bill for contact information or search the company or agency’s official website. Call or email them separately to confirm whether you received a legitimate text. A simple web search can thwart a scammer.

The Federal Communications Commission offers these tips to avoid becoming a victim of a smishing attempt:

• Never click links, reply to text messages or call numbers you don’t recognize.
• Do not respond, even if the message requests that you “text STOP” to end messages.
• Delete all suspicious texts.
• Make sure your smart device’s operating system and security apps are updated to the latest version.
• Consider installing anti-malware software on your device for added security.

The bottom line – as it is in most attempted scams – is stop before automatically sharing your information, no matter how official it looks. Verify the authenticity of the message you receive. With due diligence, you can avoid becoming a victim of a scammer.

If you think that you are a victim of smishing, you should contact law enforcement to report the scam. You can also file a complaint with the FCC at no cost. If you have given your bank information to scammers, call your bank and inform them to see what your bank can do to protect your accounts.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources:

https://www.fcc.gov/avoid-temptation-smishing-scams

https://www.uspis.gov/news/scam-article/smishing-package-tracking-text-scams

As students head back to school and college, fraudsters are eagerly waiting – not only for the students, but for their parents and relatives as well.

But college students are especially susceptible to being a target. According to the Federal Trade Commission (FTC), people aged 20 to 30 lose money to fraud more frequently than older consumers.

Here are some common back-to-school type scams for which to be on the lookout:

High school diploma scam

Scammers will prey on those who are seeking their high school diploma.

• If you have to pay for your diploma, it is a scam. You may need to pay for classes to earn your diploma, but once you earn it, you don’t have to pay for the diploma itself.
• They claim they’re from the federal government. Educational programs are affiliated with state governments, not the federal government.
• You can earn the diploma quickly. If there are no tests or classes involved, it is a scam.

Student tax scam

If you receive a text, email or call from the IRS claiming that you did not pay your student tax, this is a scam. The IRS always reaches out through mail first and will never demand payment through a wire transfer. If you are threatened with imprisonment, this also is a sign it is a scam.

Scholarship scams

Fraudsters know that education costs money and have many scholarship scams designed to get your money.

• Never pay to apply for government student loans or financial aid. If you have to pay, it is a scam.
• Also, you should never pay for a scholarship. If you are asked to pay fees in order to receive a scholarship, it is a scam.
• If an organization guarantees you will get a scholarship, it most likely is a scam. No organization can absolutely guarantee a scholarship will be awarded to certain students.

Fake check scams

Scammers will target students who are looking to make money. According to the FTC, the scams that target students often involve jobs that could be done on the side — like being a mystery shopper, advertising with a car wrap or working as a part-time assistant or dog walker for someone pretending to be your professor. These scams all involve someone sending you a check, asking you to deposit it, sending some of the money to someone else, and keeping the rest as payment.

However, those “jobs” are all fake, and the check will bounce – and when it does, and the bank realizes the check was fake, it will want that money back.

Remember, as with all scams – just like the ones mentioned above – if it sounds too good to be true, it probably is.

If you spot a scam, report it to the FTC at http://ftc.gov/complaint.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources:

https://www.ftc.gov/news-events/data-visualizations/data-spotlight/2019/10/not-what-you-think-millennials-fraud

https://consumer.ftc.gov/consumer-alerts/2022/03/college-students-we-want-hear-you

Have you heard of jugging?

You probably know what it is, but may not have heard the term by which it goes.

Simply put, jugging is theft. The jugglers can work in teams or work alone. They identify a potential victim withdrawing money from an ATM, or watch for people coming out of a bank with bank bags or cash envelopes. The jugglers will then follow the victim – sometimes to multiple locations – to look for the right time and place to steal the money.

Jugging cases have risen recently, according to law enforcement officials.

Use these tips to avoid becoming a victim of jugging:

• Be on the lookout for individuals backed into parking spaces who do not exit their vehicle to conduct business.
• If you’re in the bank and you feel like someone is watching you, advise the bank’s employees so they can contact authorities or assist you in getting to your vehicle.
• Be aware of your surroundings. Don’t be distracted. This will make you look like an easy target.
• Be vigilant when using ATMs, as jugglers typically target individuals using ATMs. Also, exercise caution when leaving the ATM or bank.
• Be vigilant when arriving and departing. Be aware of your surroundings and don’t leave your car or the building if you observe suspicious vehicles parked in or around the parking lot.
• Conceal your money before you leave the bank.
• Don’t openly carry bank bags, envelopes or coin boxes.
• Watch for people following you.
• Don’t leave a bank bag (hidden or not) in your car unattended.
• Make banking the last stop of your errands.

If you believe you’re being followed after leaving a bank or an ATM, call 911 and drive to a public area or, better yet, a police station.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Sources:

https://leb.fbi.gov/file-repository/archives/january-1963.pdf

https://www.justice.gov/usao-ndtx/pr/two-leaders-jugging-crew-sentenced-federal-court

https://www.mctxsheriff.org/news_detail_T6_R459.php

Scammers target everyone.

They rely on people being unaware and uninformed in their attempts to obtain your personal details and/or your money.

Every day, scammers prey on those who are uninformed. When they succeed, it’s because the scams appear to be authentic, trying to catch you off guard when you’re not expecting it.

While you can’t keep yourself from becoming a target of a scammer, you can protect yourself from scammers by staying alert and vigilant at all times.

Here are ways in which you can protect yourself:

• Know that scams exist. Whether you receive an unprompted email, phone call, letter or text message, consider that it might be a scam. Remember, if it looks too good to be true, it probably is.
• Don’t click on links in text messages or emails or open email attachments if you can’t verify who sent the message or you weren’t expecting it. This is one way scammers acquire access to your information.
• Be wary if asked to send money by gift card, preloaded credit cards or virtual currency. Those types of payments are virtually untraceable and almost always are the sign of a scam.
• Monitor your accounts. You should check your financial accounts daily online or through your accounts’ mobile apps, so you can catch if any unauthorized transactions have occurred. The quicker you notice fraud if it occurs, the quicker you can ensure less damage can be done.
• Check your credit report. Review your credit reports for any suspicious activity, especially accounts you didn’t open.
• Don’t divulge your personal information unless you know it’s a trusted and verified source. Scammers will frighten and threaten you and can sound very official. Don’t fall for their tactics.

As technology evolves, so do scammers. Letters and documents can be faked, which, at first glance, looks official. But there are ways you can spot a scam:

• Low-resolution images. A company wouldn’t send out an email with a low-resolution image.
• Poor spelling and grammar. If you receive a letter that doesn’t read correctly or has misspelled words, this is another sign of a scam. Companies don’t want their correspondence to look unprofessional, and documents and letters with grammatical and spelling errors are unprofessional.
• The email address doesn’t have the name of the company. Generally companies that send email will do so from an email address that has the name of the company in it.
• You weren’t expecting to be contacted. If you’re contacted out of the blue, and the correspondence says you must act now, it likely is a scam.
• You’re asked to pay money because you won a prize. If you won a prize, you shouldn’t have to pay money to receive it. You also should be wary if you won a prize for a contest you didn’t enter.

If you believe you’ve been scammed, call your bank’s fraud department. You also can report fraud to the FTC at https://reportfraud.ftc.gov/.

Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.

Source:

https://www.ftc.gov