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Latest Fraud Prevention Insights from Central Bank

Fraudsters are always trying to get their hands on what isn’t theirs — and in today’s high-tech world, they have more tactics at their fingertips than ever. Central Bank is here to help you stay up to date on the latest scams, providing ways to help recognize and prevent them.

STORM CONCERNS HAVE PHONE CALL SCAMS ON THE RISE

The recent Texas cold snap brought more than frigid temperatures — it sparked an uptick in fraud attempts. Phone call scams in particular have increased, with scammers impersonating banks, government agencies or tech support services to try to obtain sensitive information or money.

Staying aware of common scam tactics and knowing what to watch for can go a long way toward protecting your funds and data. Below, Central Bank offers a few important tips to help keep you and your money safe.

Never Share Sensitive Information: If you receive an unexpected phone call, it's best to not disclose any sensitive personal information. When calling the bank directly, Central Bank may require personal information for verification. However, we will never request your PIN, password or one-time login code over the phone. Also, it’s okay to question the motives of someone who has contacted you unexpectedly.

Don’t Rely on Call ID: With the widespread use of smartphones and VoIP technology, scammers can easily spoof numbers and appear legitimate, making it challenging to discern a call's authenticity. Fraudsters can make any name or number appear on your caller ID, so be vigilant in identifying who the true caller is.

Stop to Verify: If you receive a suspicious request for money, personal details or account login information — even if that request sounds like it could be legitimate — it’s best to stop communication or hang up with the requestor immediately. Then, call the person or institution through a verified phone number to determine whether the request was authentic.

Banks Never Ask That!

Want to dig deeper into ways to spot an email or text that isn’t on the up-and-up? The American Bankers Association has a full website devoted to just that.

CHECK IT OUT

IN THE SPOTLIGHT: SOCIAL ENGINEERING ATTACKS

Social engineering involves manipulating an individual to gain access to sensitive information — often via phishing emails. Scammers masquerade as a known company or coworker, reaching out to targets for help with a project, alerting them of past-due payments and the like. If the target clicks a questionable link or attachment, it can download malware to their computer and leave them vulnerable to theft of information.

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HERE, HELP IS ALWAYS NEARBY

With systems and safeguards to keep your data safe — and trained bankers who are ready to answer your questions, we’re here to help.

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