Protecting yourself from various scams is crucial in today's digital age where fraudsters continuously devise new ways to exploit unsuspecting individuals. From tech support scams to romance scams, and business email compromise scams, the methods used by fraudsters are diverse and often convincing.
Picture this: a seemingly legitimate phone call from a tech support representative urging you to pay for services, or an email from a trusted vendor requesting a payment transfer to a different account. These scenarios may sound familiar, but they're just a glimpse into the diverse landscape of scams targeting individuals and businesses alike.
Whether it's receiving unsolicited phone calls posing as tech support from reputable companies or encountering enticing lottery winnings that require upfront payment, staying vigilant is paramount.
In this blog, we'll discuss different types of scams, their common characteristics, and most importantly, tips to safeguard yourself and your assets from falling victim to these deceptive practices. Stay informed, stay vigilant, and together, let's combat fraud and cybercrime.
Tech Support Scam
Scammers contact you and pose as a customer support representative or tech support representative from a well-known company. They find something wrong with your computer and ask you to pay for tech support services. They ask you to pay by wiring money, putting money on a gift card, prepaid card or make payment using cryptocurrency or a money transfer app.
Fraudsters' favorite contact method: Phone calls and Computer Pop-Up Warnings on your computer’s screen.
Things to know:
- Legitimate tech companies won’t contact you by phone, email, or text message to tell you there’s a problem with your computer.
- Security pop-up warnings from real tech companies will never ask you to call a phone number or click on a link
Source: Spotting and Avoiding Tech Support Scams
Imposter Scam
Scammers pretend to be someone else (ie: a BankProv Representative, a member of the Bank’s Security Team, an agent from the FBI or the IRS) and try to gain your trust and attempts to convince you to send them money or to get your personal Information.
Tips:
- Don’t give your account information or online banking credentials. BankProv will never call and ask you to provide personal information over the telephone. (If you call us, we may ask you to provide information to verify your identity.)
- Scammers usually ask you to pay via wire, gift cards or cryptocurrency. You should be extremely suspicious of such requests.
- The IRS, FBI or any government agency won’t call you threatening you for debt payment.
Fraudsters' favorite contact method: Phone calls, SMS, emails.
Source: Imposter Scams
Business Email Compromise Scam
Scammers pose as your vendor or supplier and ask you via email to send money to a different account.
Things to know:
- Carefully examine the email address, URL, and spelling used in any correspondence. Scammers use slight variations to trick your eye and gain your trust.
- Verbally verify payment and purchase requests by calling the vendor on a known phone number to ensure legitimacy.
Source: Business Email Compromise
Romance Scam
Scammers create fake profiles on dating sites or contact you on social media. They say they are in love with you, but they live far away (usually for work or because they’re in the military). Then they start asking for money for something urgent (surgery, hospital bill, plane ticket).
Things to know:
- Scammers will say they can’t meet you in person.
- Scammers will ask you for money and will tell you how to pay (usually through wire or through a money transfer app or cryptocurrency.)
- Never send money to someone you have not met in person.
Source: What to Know About Romance Scams
Overpayment Scam
Scammers contact you to buy a product you are selling. They quickly propose to send a payment via check, but they mistakenly send you too much money. They then ask for a refund. A couple of days later the initial check payment bounces leaving you liable for the entire amount.
Things to know:
- Don’t accept a check for more than your selling price.
Source: FTC Warns Consumers about Check Overpayment Scams
Lottery Scam
Scammers send you an email or a letter claiming that you won the lottery or a prize, however, they ask for payment to claim the final prize/winnings.
Things to know:
- Scammers might say they are from the government.
- Scammers use the names of well-known organizations.
- Real sweepstakes have published rules and requirements and must be entered to win.
Source: Fake Prize, Sweepstakes, and Lottery Scams
If you believe that an unauthorized transaction(s) has occurred on your account(s), contact the Bank immediately at 888-806-7768, or email us.
For more information, browse our resources and tips to protect your business from fraud and cybercrime.
Learn more about imposter scams at consumer.FTC.gov.