Learn the Cybercrime Warning Signs

Wealth 7 min read

Cropped shot of a businesswoman sitting alone and typing on her laptop during the day at home

Talk with a fraud protection expert

The number of cybercrimes continues to increase day by day. This can sometimes make it hard for you to completely protect yourself from these threats. But the more you know about these scams, the better chance you’ll have at identifying and avoiding them.

What is a cybercrime?

Cybercriminals aim to exploit your information for their own personal gain, causing harm to financial stability and exposing secure information. Cybercrimes are those criminal activities where a computer or the internet is used as a tool for fraudulent claims, to gain personal or business information, or to infect networks and devices.

*First Bank will always take the appropriate measures to keep your personal information safe.

In this article, we have outlined some common cyber scams, so that you can understand what to look out for. Some common scams/fraud includes:

Phishing Email Scams
Perhaps the most common type of scam is phishing, usually done via email and designed to look like they are coming from someone at your company, someone you know, or a notable figure.

Because these emails look like they can come from anyone, it is easy to be caught in this form of scam. It may be hard to fully protect yourself from them, but it is always best to double check who is requesting your information.
Payroll Scams
In Protecting Against Fraud from Nacha, a payroll scam is when, “fraudsters target individual employees by directing the employees to update or confirm their payroll information via a fake payroll platform that spoofs their employer’s actual payroll platform. In some cases, the fraudster may claim the employee must do one of these: view a confidential email from human resources or the payroll department, view changes to the employee’s account, or confirm that the account should not be deleted.”

Cybercriminals will use the stolen credentials to change payment information within the business’s payment platform. This type of scam can be extremely dangerous to an individual and a company because it exposes both user and business information.
Romance Scams
According to fbi.gov, romance scams, or online dating scams, “occur when a criminal adopts a fake online identity to gain a victim’s affection and trust. The scammer then uses the illusion of a romantic or close relationship to manipulate and/or steal from the victim… The scammer’s intention is to establish a relationship as quickly as possible, endear [themselves] to the victim, and gain trust. Scammers may propose marriage and make plans to meet in person, but that will never happen. Eventually, they will ask for money.”

Always be careful when meeting people online because it may result in the above or have the potential to put you in other immediate danger. “If someone you meet online needs your bank account information to deposit money, they are most likely using your account to carry out other theft and fraud schemes.”
Free Money or Debt Collection
Free money scams are when a fraudster leads someone to believe that they have won or qualify for free money. With these types of scams, they will try to look official and convincing, but if you receive notifications that sound too good to be true, be hesitant.

With debt collection scams, scammers will try to pose as real debt collectors attempting to intimidate others in to paying off their “debt”.

In both of these types, scammers may urge you to give them information such as your Social Security number or bank account number to act instantly. One sign that these scams are fake is that if you won, qualify, or owe money, then the person contacting you should already have certain information they may ask you for. These fraudsters may also say that before you can obtain your free funds you must pay a small fee, or for debt collection you must pay immediately to avoid consequences such as jail time.
Wire Transfer Scams
Wire transfers can be an easy and convenient way to send money to other people or between businesses, but it can also pose a threat if a fraudster is attempting to get someone to wire funds incorrectly in order for them to gain access to bank information.

This type of fraud has become a significant threat because without proper face-to-face verification, it is possible for cybercriminals to trick others into making a transaction or making them believe wiring funds are necessary.

It is good practice never to wire money to someone you don’t know or haven’t met, someone who says they work for the government, anyone who pressures you to pay immediately, or says it is the only way that you can pay for something. You should also never initiate urgent wire requests that come via email, or any emailed requests, without talking to someone from a number you know or have looked up (not the one provided in the request).

For more information on common cyber scams, visit fbi.gov and dhs.gov.

Take a Breath and Double Check

Now that you know of some common ways fraudsters may try to get your information, here are a few tips to help protect you from them.

Double check the sender. Make sure that the sender is a real person or someone that you know. Even then, you can call to make sure they are the ones requesting the information.
Don’t click on attachments from unknown people. If an attachment seems fishy, don’t open it. This may lead to viruses or scammers accessing your information.
Be hesitant if it sounds too good to be true. You may be excited, but always take a moment to consider all options and ask yourself if what they are saying can be real. As an additional measure, ask them for their information such as, name, company name, company address, and any other information that could verify them or their business.
Resist the urge to respond immediately. These scams may be scary, but if you get a communication saying that something will happen if you don’t act on it right away, take a deep breath and contact the company directly.
Send money to people you trust. Don’t send money to anyone who urges you or anyone you have only communicated with online or by phone.
Do your research. Take some time to research the company’s information and contact them to verify a scammer’s claims.
Keep your personal details secure. If you need to keep your passwords and/or pins, keep them in a safe place. Be care on how much information you share online.

Keep Your Eyes Open

Scammers can be tricky, so always look for the warning signs. If you think you have been a victim to a scam, change your passwords, call your services providers, and bank to notify them of the potential threat.

Want more information to keep you safe in the cyber world? Check out these handy resources:
Learn How to Be A Phishing Attack Detective
Lock It Up: Protect Your Login Info
5 Tips for Safely Managing Your Finances Online
7 Tips to Help You Protect Your Identity

If you feel that you’ve been the victim of a cybercrime, the Internet Crime Complaint Center (IC3) is the Nation’s central hub for reporting cyber crime and run by the FBI. Visit www.ic3.gov for resources and more information about how to file a report.

Talk with a fraud protection expert

Find A Location Get In Touch

The Taxman Cometh Do you have a stack of forms sitting on your counter that you’re dreading sorting through? If so, you might have FOTM, or Fear of the Tax Man. It can often hit around February or March, and is incredibly common. One way of dealing with FOTM is by getting your finances ready so that when it comes time to file, you feel a little better. Here are our tips and to-dos to help you prepare. Start Early (If You Can) Ideally, you’ve already started this process, but if you’re reading this and haven’t started pulling your tax information together, don’t panic. Keep it together: Make sure you keep all the tax documents you receive together so they’re easy to find and reference when it’s time to file. If you are getting help preparing your taxes, this will also make the process much smoother. If you have a business, make sure you keep those expenses separate. Review your filing status: Your filing status can affect how much you owe in taxes each year, and whether or not you have to file at all. If you’re unsure about your filing status, the IRS has a tool for helping you figure it out. Look back at last year’s return: Think about what areas (if any) were frustrating or caused you trouble. Prepare ahead of time this year for how you might make it easier for yourself. Deduce your deductibles: Track your charitable donations, childcare expenses, any home improvements you made, and any other deductibles you may have. You can use our mobile or online banking to help track these. Get it done. Whether you file on your own or use a tax preparer, make sure you get everything in by July 15 or file an extension! Check out the IRS tips page for links and articles that may further help and guide you. Remember, FOTM is real, but if you’re prepared, you can alleviate the fear. Please note, First Bank does not offer direct tax advice. We recommend you speak to a professional if you have any questions about preparing your personal or business tax forms. 2 min read

How to Save for Periods Without a Paycheck Did you know that two out of five wage and salary earners over the age of 15 know their schedule less than one month in advance? If that sounds like you, or if you're a teacher on a 10-month pay cycle, try this calculator to help you figure out the best approach to savings during those periods without pay. 1 min read

Checking Account Comparison – South Carolina With over 75 banks located in the state of South Carolina, checking account comparison can be overwhelming. If you live in South Carolina and are looking at opening a checking account, consider stopping in at First Bank. First Bank Checking Account Options First Bank aims to make the process of comparing checking accounts as easy as possible. That is why we offer five different checking accounts, ranging from basic accounts for individuals to specialized accounts for college students and senior citizens. Everywhere Checking Free online and mobile banking, free online bill pay, and free eStatements or paper statements.* Earn rewards when you use your eligible First Bank credit card*** Everywhere Plus Includes all the great features and benefits of Everywhere Checking Earn interest at a minimal balance requirement. Everywhere Premium Includes all the same benefits and features of Everywhere Plus Free member checks or 50% off other check designs 4 free official checks per statement cycle Unlimited out-of-network ATM transactions with no First Bank fee Campus Checking For students under 25 Includes all the benefits of Everywhere Checking No monthly maintenance fees Senior Checking Monthly direct deposit of $250 a month can qualify Seniors (55+) for no monthly maintenance fees**** Includes all the benefits of Everywhere Checking Free basic checks or 50% off other check designs You can also use the checking account comparison chart on our website to find the best checking account for you. Visit First Bank Today Call or visit the First Bank location nearest you. We can help with checking account comparisons and show you why First Bank is the best bank in South Carolina to open a checking account. *While First Bank does not charge for mobile banking, your mobile carrier’s message and data rates may apply. ***Loans subject to credit approval. See our Terms and Conditions for complete details on our One Rewards Program. MasterCard, Debit MasterCard and the MasterCard brand marks are trademarks of MasterCard International Incorporated. ****Direct deposit defined as external ACH credit. Transfers from other First Bank accounts or deposits made at a branch do not apply. ——— Sources: Investopedia: http://www.investopedia.com/terms/d/directdeposit.asp Investopedia: http://www.investopedia.com/terms/m/minimum-balance.asp 2 min read

Your Community Bank in North Carolina Are you wondering how your community bank stacks up against some of the national banks in North Carolina? Well, don’t believe that community banks versus big banks comparisons are always infallible. First Bank debunks many of these proposed theories. Let’s first take a look at the pros of big banks and how First Bank, despite being a local bank, fits right in: Plenty of ATMs and branches. There’s this notion that local banks don’t have enough branches to meet the convenience level of their national competitors. But First Bank has more than 90 locations throughout North Carolina, from Kill Devil Hills in the east to Asheville in the west. Deep menu of financial services. The other misconception about your community banks is that they only offer very basic services. But in addition to checking and savings accounts, First Bank proudly offers personal and business loans, mortgages, investment options, credit cards and more. Cutting-edge tech tools. Where did this idea that only big banks can offer the latest in technology come from? First Bank customers enjoy digital banking from their home computers or wireless devices, remote and mobile check deposit, text message account alerts, and more. The Pros of Your Community Bank Now that we’ve debunked the most popular “negatives” of local banks, let’s examine the pros of community banks as listed in the article just to make sure First Bank accomplishes those as well. Trademark personal service. This is the backbone of First Bank. We take the time to get to know you personally, so we can cater to your every financial need. More checking options*. First Bank’s checking and savings accounts have ways of avoiding First Bank monthly maintenance fees by meeting certain requirements. As you can see, your community First Bank is small enough to capture all the advantages of local banks but capable of serving customers just like a big bank. Find your nearest community First Bank in North Carolina and experience the best of both worlds. __________________________________________________________________________ Account holders may avoid the Monthly Maintenance Fee by meeting any of the requirements listed in the Keep it Fee FreeTM section of the account summary table for their account type. Other account service fees may apply as described 2 min read

Learn the Cybercrime Warning Signs

Talk with a fraud protection expert

Take a Breath and Double Check

Talk with a fraud protection expert

You may be interested in...