Many people see email as a convenient and effective way to receive information. Popular banks have even started using email as a primary method of communication to send account updates to their customers. Now, cybercriminals are imitating banks in their phishing emails to try to manipulate you and steal your sensitive information. To start the scam, cybercriminals send you an exact copy of a real bank email to appear legitimate. The email states that your bank is implementing new security measures that will affect your account. Then, the email provides a link that you can click for more information. This link will redirect you to a spoofed login webpage. If you enter your login credentials, cybercriminals will be able to use them to access your bank account and steal your money. Follow the tips below to help you stay safe from similar scams:
• Before you click a link, always hover your mouse over it. Watch out for spelling mistakes or suspiciously long URLs that can hide a website’s true domain.
• Cybercriminals often use urgent or alarming claims to trick you into clicking malicious links. Always visit the organization’s website directly to log in to your account.
• Enable multi-factor authentication (MFA) on your accounts when it is available. MFA adds a layer of security by requiring that you provide additional verification to log in to your account. (Reference: KnowBe4.com) There has been a recent increase in scammers calling or texting bank customers claiming that there are fraudulent charges on their debit cards. The scammers will then use social engineering to get the bank customer to provide the security question answers or account passwords. The scammers are also using caller ID spoofing to make the call appear to come from your bank. To protect yourself from these scams, follow the tips below:
• Do not provide your password, security codes or security question answers to anyone over the phone.
• If you receive a call purporting to be from your bank, call the bank back at the number on your bank statement or the back of your debit card. Do not use the call back feature on your phone or a number provided by the caller.
• Many banks now have a feature to allow you to lock your debit card via the online banking applications. Disabling your card will prevent any charges from being made until the card is unlocked.
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