Customer Education Resources
Here at McCurtain County National Bank, we value you and your safety. Scammers are getting creative in different ways to STEAL YOUR MONEY. Although we can’t be 100% safeguarded, there are many preventative measures we can take to reduce the risk of becoming a victim to these schemes. Let us help you by informing you of a few things to look out for.
Common Frauds & Scams
Charity Scams: These scams are commonly seen during the holidays, as well as during times of natural disasters and emergencies. They pose as a charitable organization to get money from you.
What do you do? Do NOT provide any personal and/or financial information. Make sure who you are speaking with is, in fact, a TRUE charity. You can do this by researching the charitable organization on a trusted source or website.
Debt Collection Scams: This is a risky one. These scammers will contact you on legitimate debts you could owe on and try to collect payment on it.
What do you do? Do NOT provide any personal and/or financial information. Verify the debt – contact the debtor directly.
Imposter Scams: These scammers will pretend to be someone you know and ask for money, either through social media, over the phone, or through emails. The people they impersonate may be someone you know personally, to even a public figure such as a police officer, federal government employee, etc.
What do you do? Do NOT provide any personal and/or financial information. If it is someone you know personally, discontinue communication and contact them directly yourself. Remember, CALLER I.D. CAN BE FAKED. If it is a public figure “representing” a trusted agency, discontinue communication and contact said agency, directly, to verify. If it is through email, look out for spelling/grammar discrepancies. Check the email address it is coming from.
Lottery/Prize Scams: A lot of these scams will appear too good to be true. These scammers will contact you to tell you that you’ve won something.
What do you do? Do NOT provide any personal and/or financial information, especially when you know that you haven’t entered into anything. Even if you did, there are direct platforms to check if you’ve won.
Romance Scams: These schemes start in a variety of ways, but are most commonly seen online. These scammers really put in the effort to swoon you. Some may even have a sad story or is going through a “life crisis” to pity you through giving them money.
What do you do? Do NOT provide any personal and/or financial information. Be smart about who you connect with.
As mentioned, these are just a few techniques these scammers use to gain access to sensitive information and their PAYDAY. Now that we know some common tricks, let’s talk about protection.
Protecting Yourself Online
- Invest in a good security software that is best at defenses against viruses, malware, and other online threats.
- Keep your computers and mobile devices up to date. Turn on automatic updates so you can receive the newest fixes as they come available.
- Use strong passwords with a mixture of uppercase and lowercase letters, numbers, and special characters. Do not set passwords with names of someone you know or something dear to you.
- Do not have the same passwords for everything.
- Change your passwords often.
- Do not save your username and passwords on your computer or mobile device. This would mean to also avoid using automatic login features.
- Do not save a list of your usernames and passwords on your computer or mobile device.
- Only open email attachments from trusted sources.
- Always sign out of any online network you are on.
- Do not save any personal, financial, and banking information on your computer or mobile device.
- Do not save any credit/debit card information on checkout sites or online accounts. This goes same for not saving any bank account information on any online accounts.
- Only shop from trusted and secure online sites.
- Do not grant remote access to your computer.
- Be cautious of unsolicited email.
Should you fall a victim to these fraudulent scams, these helpful links below will walk you through the necessary steps to take.
TransFund has recently detected a surge in aggressive cyberattacks that exploit email, phone, and text messaging methods with the intention of illicitly obtaining sensitive cardholder information. This specific kind of fraudulent activity is recognized as Account Take Over Fraud or ATO Fraud.
How ATO Fraud Works:
- The perpetrator sends messages to cardholders, employing text messages, emails, or phone calls/voicemails that possess an appearance of legitimacy.
- Each message communicates an urgent situation demanding immediate attention from the cardholder.
- When the cardholder responds to the text message or dials the provided number, the fraudster requests account-related details.
- Upon the cardholder furnishing the requested information, the fraudster commences the execution of deceitful transactions, masquerading as the genuine cardholder. In instances of heightened aggressiveness, fraudsters proactively engage with fraud call centers or financial institutions, assuming the guise of disgruntled cardholders. Their interactions may involve soliciting alterations to accounts, such as seeking higher spending limits to unlock previously suspended accounts due to fraud, or initiating wire transfers. The approach of each ATO attack varies depending on the nature of the account details the fraudster manages to extract from the cardholders.
Preventing ATO Fraud:
- Be Skeptical of Unsolicited Communication: Be cautious when receiving unexpected emails, text messages, or phone calls that request personal or financial information. Verify the authenticity of the sender or caller through official channels before sharing any sensitive information.
- Use Strong, Unique Passwords: Create strong passwords for online banking and other accounts. Avoid using easily guessable information like birthdates or common words. Use a mix of letters, numbers, and symbols, and consider using a reputable password manager.
- Enable Multi-Factor Authentication (MFA): Whenever possible, enable MFA for your accounts. This adds an extra layer of security by requiring a second form of verification, such as a text message code or biometric scan, in addition to your password.
- Regularly Monitor Accounts: Keep a close eye on your bank and credit card statements for any unusual or unauthorized transactions. Report any discrepancies to your bank immediately.
- Beware of Urgent Requests: Fraudsters often create a sense of urgency to pressure victims into divulging information quickly. Take your time to verify the legitimacy of any request before taking action.
- Never Share Personal Information: Avoid sharing personal or financial information over the phone, via text, or email unless you are certain of the recipient's identity. Legitimate organizations won't ask for sensitive information this way.
- Use Secure Networks: When accessing online banking or sensitive accounts, use secure and trusted Wi-Fi networks. Avoid using public Wi-Fi networks, which can be less secure and susceptible to hacking.
- Regularly Update Software: Keep your computer, smartphone, and other devices up to date with the latest security patches and updates to minimize vulnerabilities.
- Educate Yourself: Stay informed about the latest scams and fraud tactics. Your bank may provide resources or updates on common fraud schemes that you should be aware of.
- Contact Your Bank: If you suspect any suspicious activity or receive requests for personal information, contact us directly using our official contact information to verify the legitimacy of the communication.
- Secure Email Accounts: Use strong passwords and two-factor authentication for your email accounts. Access to your email can often lead to access to other accounts, so keeping your email secure is crucial.
- Regularly Review Privacy Settings: Check the privacy settings on your social media accounts and limit the amount of personal information you share publicly. Fraudsters can use publicly available information to craft convincing attacks.
Remember, staying vigilant and cautious is key to preventing ATO Fraud and other forms of cybercrime. We encourage you to remain proactive and informed for the protection of your financial well-being.
