Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

Learn the Cybercrime Warning Signs

Personal Finances 7 min read

Authors

Kiyauna McGirth
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.

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. Do your research. Take some time to research the company’s information and contact them to verify a scammer’s claims.
  7. 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

Share:

Authors

Kiyauna McGirth, Banking Officer, Brand Communications Specialist
First Bank’s Good To Know Logo
Sign up for our newsletter and be the first to know about new tips, insights, and products from First Bank.
First Bank may use this email address to contact you about products, services, and promotions.

You may be interested in...

What is Personal Finance? Are you ready to get a handle on your finances and prepare for your future? The first step is understanding personal finance. According to Investopedia, “Personal finance defines all financial decisions and activities of an individual or household, including budgeting, insurance, mortgage planning, savings and retirement planning.” Understanding these terms can help you better control your funds and prepare for future financial success. Important Personal Finance Terms Budgeting — Establishing a budget is an important part of managing your personal finances. A budget helps you keep track of your spending patterns and plan how you are going to spend your income each month. Start by calculating your total monthly income, then use MyMoney to track all of your expenses each month. This will help you see where your money is going, where you can save and where you can spend a little extra each month. Insurance  — Purchasing insurance is another large part of managing your personal finances. According to Investopedia, by purchasing insurance — like health insurance, life insurance and car insurance and homeowner’s insurance — you are protecting yourself from risk and ensuring the security of your material standing. Savings  — Whether you’re in your 20s and just starting to learn about personal finances, or are in your 30s and looking to better manage your funds, one thing is certain, you should be saving for the future. It is important to establish an emergency savings fund to cover any financial hardships and a retirement savings plan to help you in the future. Articles on Personal Finance For more information on personal finances, check out these articles from First Bank’s Financial Education Center: Buying Your First New Car: What to Know Simplifying the Home Buying Process How to Avoid Paying Too Much for a House 10 “Life Hacks” That Will Save You Money 5 Tips for Safely Managing Your Finances Online Source: Investopedia: http://www.investopedia.com/terms/p/personalfinance.asp#ixzz40uIYOSwU 2 min read
Your Community Bank If you live in North Carolina or South Carolina, you have a ton of banking options right outside your door. Large financial institutions may seem like your best option for banking services at first, but community banks typically offer more consumer-friendly services and fewer fees. Choose the Right Community Bank First Bank is your community bank that cares about local roots. Since 1935, we have been providing our customers with community-centric banking services, including: Personal banking options, such as checking accounts, savings accounts, debit and credit cards, personal loans, and more. Business banking options, like checking and savings accounts, business loans, merchant services, and treasury services. Wealth management services, like asset managements, mutual funds, and estate services. Insurance products, such as life and health insurance for individuals and commercial insurance for businesses. Mortgage loan options, including conventional, government, jumbo, first-time home buyer, and more. The Benefits of a Community Bank According to Bankrate.com there are many other advantages to choosing a community bank over a big bank. For example: Community banks are relationship-based, and the employees typically know you and your whole family on a personal level. Community banks are also smaller and can therefore offer personalized service. Community banks also typically offer lower fees and lower balance requirements than big banks. Being smaller allows community banks to have more lending flexibility than bigger banks Community banks tend to stick to their local roots, which means they strive to offer great services with low fees and give back to the community. First Bank is small enough to know you like a neighbor, large enough to handle all of your banking needs, and dedicated to supporting our local communities. To learn more about us and our banking services, visit your local First Bank branch today. ——— Sources: Bankrate: http://www.bankrate.com/banking/community-banks-vs-big-banks/ 2 min read
Education Savings Account – North Carolina College is expensive. The cost of tuition, housing, books, food, and transportation starts to add up. The cost of going to college has gone up by over 400% since the 1970s. The average college student’s debt is $37,172. Don’t get bogged down with student or parent loans. In North Carolina, a First Bank education savings account can help you save for college. Start A Savings Account for Education at First Bank in North Carolina North Carolina is home to some of the best universities in the country, like N.C. State, UNC Chapel Hill, Duke, Elon, Eastern Carolina University, and Wake Forest. You shouldn’t have to miss out on the great education North Carolina has to offer because of the high costs. First Bank understands the importance of education. Our education savings accounts can help you prepare for your future and achieve your career goals. Everywhere Savings – Our Everywhere Savings account is a great option for anyone who wants to start saving for college. MyFirst Savings – It is never too early to start saving for your education. First Bank customers under 18 years of age can open a MyFirst Savings account with only a $10 initial deposit. Money Market – First Bank’s Money Market account is a good option for parents or young adults who can put down a little more money to deposit. CDs – A certificate of deposit may be a good option for parents or students who do not need immediate access to their funds. CDs usually earn interest at a higher rate, and are FDIC-insured.* All of our accounts come with free online and mobile banking services.** First Bank makes it easy for you to manage your account from virtually anywhere. Contact or visit your local First Bank to speak with one of our experts about the best education savings account option for you. With over 80 locations in North Carolina, it is easy to find a First Bank near you. *CDs are subject to penalty for early withdrawals prior to maturity date. Penalty will reduce earnings. Investment and Insurance Products are NOT Bank Deposits, NOT FDIC-Insured, HAVE NO Bank Guarantee, NOT Insured by any Federal Government Agency, May Go Down in Value. **While First 3 min read
First Bank logo
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognizing you when you return to our website and helping our team to understand which sections of the website are the most popular and useful.