WarrenBoynton Blog

Bank scams continued


We are continuing our series on the 10 most common scams for attempting to steal your account information and money.

They are:

1.    Over payment scams

2.    Employment scams

3.    Automatic debit scams

4.    Fake check-cashing scams

5.    Unsolicited check fraud

6.    Government imposter scams

7.    Phishing emails and text messages

8.    Charity scams

9.    Online lending scams

10.   Award and lottery scams

Government imposter scams

Government imposter scams often take place over the phone. During these calls (and emails or texts) the scammer will threaten you with jail time for outstanding debts that require you to pay with a gift card. The imposter may say that you have won a prize, which requires payment of taxes or fees, before your prize is processed.

Remember, the government and your bank will never ask for your personal information over the phone, by email, or text when unsolicited. If you receive a suspicious call, hang up, and call the government agency.

Phishing scams

Never click on a link in an email until you are absolutely sure it is safe and genuine. A phishing scam occurs when the victim receives an email from a supposedly trustworthy source, such as their bank or a service provider. The email will ask the victim to click on the link to reset their password, for example. However, when the victim clicks on the link, they will share their personal information with the scammer or download malware onto their device. Phishing scams also happen through text and even phone calls, but email phishing scams are currently the most popular. Children are just as susceptible as adults, so make sure you educate them too.

Charity scams

Although it is unthinkable, some scammers pretend to run a reputable charity, such as a charity for veterans and may call you for a donation. They may go as far as asking the victim for their personal information or banking information. The worst thing you can do is hand over money or give them access to your account.

Online lending scams

Don’t be tempted to try an online lender that isn’t your bank, as many of these ‘services’ are trying to scam you online. Bank scammers will go as far to establish fake websites designed to email you a ‘special offer.’ When you apply for the loan, the scammer will ask you for your personal information, such as bank account info and social security number. Unfortunately, once they have this information, they can open real loans in your name or demand false payment.

Award and lottery scams

If you receive an email claiming you have won the lottery, a sweep-stake or sum of money, vacation, or car, for example be very cautious. Don’t send payment to redeem your ‘prize’ or provide personal information. It may be a scam. The idiom of it sounds too good to be true, it probably is rings true.

If you have any questions about your account, or banking in general, stop in at one of our branches in New Berlin, Springfield, Modesto, or Palmyra.