2.2 million fraud reports cost Americans $ 3.3 billion in 2020 (Getty)
Diversified methods bank fraud The rumors, but despite their diversity, it seems nearly impossible for any scammer or scammer to be able to get into your account without your personal help. This report highlights the means fraud Spread in 2022, with 15 tips that will benefit you to protect your money.
fraud through Bank account cost Americans $ 3.3 billion in 2020, according to a report prepared by the FTC in 2020, which included data from the 2.2 million complaints received in this regard.
Some of the common ways a bank scammer targets you
Most people have received a suspicious text message or email from someone claiming to be from their bank or have noticed unusual login attempts on their account. These are warning signs of targeting from scammers that shouldn’t be ignored. There are 6 methods that are most common in this regard:
1 – The scammer sends you fake checks that legally oblige you to take action.
2 – It sends you an unsolicited email or a fake text message asking you to respond with a passcode or a link to download malware.
3 – It makes you share your credit card number or bank account information on a phishing website.
4 – He pretends to be the bank representative and asks you for your account number over the phone.
5 – Attempt to remotely access your online banking system via malware or virus.
6 – Purchase your banking information from the Dark Web.
The 10 most common techniques for stealing information and money from your account
Fraud methods vary, but the most common are “overpayment scams”, “recruitment scams”, “automatic accounts payable fraud”, “fake check cashing fraud”, “unwanted check fraud”, ” fraud in the name of government agencies “,” mailing letters “Phishing scams by e-mail and text message,” charity scams “,” online loan scams “and” jackpot and lottery scams “.
1 – Overpayment Scams
By targeting “online” merchants and sellers, the scammer appears as a customer and sends you a check, money order, or proof of payment from an online payment processor for an amount greater than the purchase price. Then, you will be asked to redeem the difference via online payment or bank transfer. But the original type of payment was fraudulent, which means you lose your refund and often the cost of the “sold” product.
2 – Recruiting Tricks
Job seekers are often targeted by bank scams because they are used to providing personal information. It starts with the scammer posting a job opportunity and then requesting your ID for verification as part of the hiring process. Once he gets your personal information (such as ID, social security number, etc.) he can steal your identity and access your bank account.
Job scams can also include recruiters who demand payment to “protect” your job, as well as fake employers who send you a check to clear customs on their behalf or merchandise they want you to repack and reship.
3 – Automatic Accounts Payable Fraud
Also known as automatic withdrawal scams, they involve unauthorized withdrawals from your bank account. Here, scammers can access your bank account numbers via fraudulent telemarketing calls or by stealing them from unprotected websites when you sign up for a free trial. Once the scammer has access to your account information, he can deduct your account every month with your knowledge or consent.
4 – Fraud to cash ghost checks
Bank scams often prey on your good nature. During a bogus check cashing scam, the scammer waits outside the bank or other financial institution and asks you to help cashing a check, telling you that he has forgotten his ID or doesn’t have an account but needs the money. immediately. But only after the check is deposited and the money is delivered, do you discover that it was an incorrect check. When it is not clear, the funds are withdrawn from your account. Scams to cash in fake checks are also common online, especially on platforms like Venmo.
5 – Unwanted Check Fraud
This way you get a check you didn’t order in the mail, often for a discount on payments or a refund of overpayments. But instead of free cash, these checks include small print that legally commit you to a loan, subscription, or other expensive long-term commitment.
6- Fraud in the name of government agencies
Americans avoid more than 3 billion unwanted phone calls per month. Many of them come from scammers who pretend to be from a government or law enforcement agency such as Medicare, the FBI, or the IRS.
During these calls (or emails or SMS), the scammer will threaten you with jail for outstanding debts that require payment with a gift card. Or they may claim that you have won a prize that requires you to pay fees or commissions before you can process it.
Either way, the scammers get your money or personal information that they can use for other types of financial fraud. And you need to remember that the government and your bank will never ask for personal information in an email or text message. If you’re unsure, hang up and call the agency’s official phone number.
7 – Email and scam texts
Phishing is a type of SEA, where you receive an email or SMS that appears to come from a well-known service provider like Apple or your bank. The message may tell you that someone has logged into your account and you need to reset your password.
Unfortunately, when you click on the link provided, you will end up sharing your personal information with scammers or downloading malware to your device (which could allow them to hack your email). Phishing scams also occur via text messages and even phone calls, but fraudulent emails are the most common. In 2020, 96% of these phishing attempts were via email.
8 – Tricks in the name of charities
Some scammers pretend to run a reputable charity (such as the Veterans Foundation) and may call or email you for donations. Many of them can go so far as to request personal information or bank details, such as your debit card number, giving them full access to your account.
9 – Online loan tricks
If you can’t get a loan from the bank, you may be tempted to try one of the online lenders. But many of these services are just trying to trick you. Bank scammers create fake websites designed to commit loan fraud or send you an email with a “special offer”. And when you apply, they’ll ask you for sensitive information like bank details or social security numbers.
Once they have access to this information, they can open real loans in your name or provide you with a fake one and demand payment immediately. You will realize that the loan was fraudulent only after payment.
10 – Lottery prizes and tricks
They are emails stating that you have won a lottery, lotto, money or other prizes. But be on the alert if they ask you to share sensitive information or send money to regulators. In many cases, if it sounds too good to be true, it is likely to be fraudulent.
15 tips that are preventative protection for your account and your money from bank fraud
But the question: how do you protect yourself from bank fraud? There is no doubt that financial monitoring and alerts are the first line of defense when it comes to account-related scams and the sooner you detect someone trying to access your accounts, the faster you can fight them and limit their damage.
But there are other proactive ways you can protect yourself from financial fraud, and here are the 15 best tips on this you can follow:
1 – Do not cash checks that may not be paid. Instead, return it to the sender.
2 – Only use reputable job platforms when looking for a job opportunity and check the job directly before submitting personal information.
3 – If a job offer looks suspicious, research company and employer reviews before applying.
4 – Never pay cash for use.
5 – Use encrypted sites only when entering your debit or credit card details. Look for an address that begins with “https” before the site address and not “http” without the “s” encoding.
6 – Never share confidential information over the phone unless it is a trusted friend or family member.
7 – Select the charities carefully and choose the charities you know and trust.
8 – Verify email addresses by clicking on the sender to view the full email address before clicking the links. Scammers can hide their real email addresses and only show a certain brand.
9 – Never engage scammers on your phone even if they have government agency names as their caller ID.
10 – Government agencies will not contact you to ask for sensitive information. If in doubt, contact the authorized customer service or the phone numbers of the relevant agency to confirm the identity of the caller.
11 – Never pay for a premium release.
12 – Borrow money only from approved banks and lenders.
13 – Review unwanted checks with your bank before cashing them.
14 – Never cash a check from anyone, regardless of the reasons they give you.
15 – Use a proven cybersecurity application to protect your identity and financial information from emerging cyber threats. If you get scammed, some security companies offer $ 1 million coverage for potential losses from identity theft.
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