Tag Archives: fraud

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My Identity Has Been Stolen. Now What?

Discovering that your identity has been stolen can be a frightening and overwhelming experience. Here are the steps you should take immediately to protect yourself and minimize the damage:

  • Contact Your Bank and Credit Card Companies: Notify your bank and any credit card companies of the theft. They can help you freeze your accounts, issue new cards, and monitor for suspicious activity.
  • Place a Fraud Alert on Your Credit Reports: Contact one of the major credit bureaus (Equifax, Experian, or TransUnion) to place a fraud alert on your credit report. This will make it harder for identity thieves to open new accounts in your name.
  • File a Report with the Federal Trade Commission (FTC): Visit the FTC’s IdentityTheft.gov website to report the theft and create a recovery plan. The FTC will provide you with a personalized recovery plan and help you track your progress.
  • Contact Local Law Enforcement: File a police report with your local law enforcement agency. This can help you document the theft and may be required by creditors or other entities.
  • Check Your Credit Reports: Obtain a copy of your credit reports from all three major credit bureaus. Review them carefully for any unauthorized accounts or transactions and report any discrepancies.
  • Change Your Passwords: Change the passwords for your online accounts, especially those related to banking, email, and social media. Use strong, unique passwords for each account.
  • Monitor Your Accounts: Keep a close eye on your bank and credit card statements, as well as your credit reports, for any signs of fraudulent activity. Consider enrolling in a credit monitoring service for added protection.


For more detailed information and resources, visit our Scam Prevention page.

Taking these steps can help you regain control and protect your financial well-being. Stay vigilant and proactive to prevent further damage.

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Digital Deception: How to Identify and Avoid Online Banking Scams

Staying Safe Online

In the digital age, banking has never been more convenient. But with this convenience comes a new wave of cyber threats that can catch even the savviest of us off guard. Online banking scams are on the rise, and it’s crucial to stay one step ahead. Let’s dive into the murky waters of digital deception and learn how to keep your finances secure.

The Latest Online Banking Scams 

Scammers are constantly finding new ways to trick us. Here are some of the latest and most common tactics we’ve seen:

  1. Investment Scams: These scams top the list with reported losses in the billions, where fraudsters lure victims with promises of high returns on investments.
  2. Impersonation Scams: Scammers impersonate business or government officials to steal money or personal information, often using intimidation tactics.
  3. Payment Method Scams: Fraudsters prefer bank transfers and cryptocurrency for scam payments, leading to significant losses for victims. They will even use peer-to-peer payment apps like Zelle.
  4. Social Media Scams: A large portion of scams originate on social media platforms, with scammers using fake profiles or ads to deceive users. In fact, the Better Business Bureau (BBB) 2022 Online Scams Report found that many people commonly found themselves the victims of a scam after trying to buy a puppy online. This was due to scammers purchasing ads for their fake e-commerce websites for social media. Around 44% of social media scams from January to June of 2023 were connected to online shopping.
  5. AI-Powered Scams: Artificial intelligence is being used to create convincing phishing messages and deepfakes, making scams more believable.
  6. Student Loan Forgiveness Scams: Scammers exploit the confusion around student loan forgiveness programs to trick victims into paying fake fees or sharing personal information.
  7. Phone Scams: Including robocalls and impersonators, phone scams use smartphones’ capabilities to install malware or extract personal data.
  8. Job Scams: Offering fake employment opportunities, scammers may ask for personal information or payment to “secure” a job.
  9. Money-Making Opportunity Scams: Victims are enticed with the prospect of easy money, only to find themselves defrauded.
  10. Prize and Grant Scams: Scammers promise fake prizes or grants, requesting payment or personal details to claim the supposed reward.

Recognizing the Red Flags 

So, how can you spot these scams? Here are some telltale signs:

  • Urgency: Scammers often create a sense of urgency, pressuring you to act quickly.
  • Unsolicited contact: Be wary of unexpected calls, emails, or texts asking for personal information.
  • Suspicious links: Hover over links to see where they really lead before clicking.
  • Requests for sensitive information: Your bank will never ask for your password or PIN via email or text.

Avoiding the Traps 

Here are some practical steps to protect yourself:

  • Secure your devices: Use reputable antivirus software and keep it updated.
  • Be skeptical: If something feels off, trust your instincts and verify through official channels.
  • Strong passwords: Create complex passwords and change them regularly.
  • Monitor your accounts: Regularly check your bank statements for any unauthorized transactions.

We’re Your Shield Against Scams 

At Peoples Bank and Trust, we’re committed to your financial safety. Our security measures and vigilant fraud monitoring are like a digital fortress around your finances. We’re here to educate and empower you, so you can bank online with confidence. Remember, if you ever have doubts about the legitimacy of a communication, reach out to us directly. Your peace of mind is our top priority.

Stay informed, stay skeptical, and stay safe. With the right knowledge and tools, you can protect yourself from the digital deceivers looking to disrupt your financial harmony.

4 Ways to Keep Your Information Safe While Using Apps

Cybersecurity

Did you know that people check their phones over 150 times each day? Unsurprisingly users spend the majority of their time in apps. Although it’s addicting, it can cause potential problems. To help you stay safe on your mobile device, Peoples Bank & Trust Co. offers these four tips to keep your information secure:

Don’t use personal information in your username. This common mistake can be a red flag for hackers looking to access your information. Usernames with this type of format often lead online predators to accessing your account and spamming your contacts. Avoid this dilemma by creating a monotonous username that doesn’t include your name, location, family, or pets.

When starting a new app, don’t allow it connect to Facebook. In the unfortunate event of your Facebook account becoming compromised, you then also have every app attached to it compromised. To combat this risk, make an individual account for each app.

Never share your personal information with other users. Often times, apps offer their own in-house messaging service for users to communicate with each other. If you’re talking with another user, or booking a service, never give your personal information such as a credit card or social security number. If the app is authentic, they should have a separate portal for any transactions that does not need to be facilitated through a messenger.

Sign-out and close the app after use. Once you’re finished with the app you’re using, be sure to close it entirely. While many users simply switch to other screen views, completely closing out of it eliminates the risk of background tasks going on while you’re unaware. Although this is not a common occurrence, it does offer an additional safety measure to continually safeguard your information.

Enjoy the latest apps and innovations your smartphone has to offer while keeping your information secure. If you’d like to learn more about cyber security, be sure to check our blog for monthly security articles!

 

Peoples Bank & Trust Co.

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