In today’s world, fraud encompasses much more than counterfeit checks and money orders. Fraudulent activity and scams now come in a variety of different shapes and sizes, and may be difficult to recognize. It has, unfortunately, become easier for predators to take advantage of the unsuspecting, honest consumer. At Bank of Odessa, your protection is important to us. The best way to avoid becoming a victim of fraud is to educate yourself and be aware of common scams and fraud that you may encounter.
We want you to be Aware
This section of our website provides an overview of some of the most common types of fraud that we are seeing or hearing about, as well as some warning signs you may see if someone is attempting to engage in fraudulent activity. In addition, we’ve included contact information on the major agencies you should notify if you believe you or someone you know is a victim of fraud.
Protect your passwords. Never share passwords and store them securely.
Guard your personal information. Never provide your sensitive information to strangers or unknown callers.
Access your accounts from a secure location. Avoid using public WiFi when feasible.
Enable multi-factor authentication for accounts that support it.
Monitor your accounts regularly.
Keep your computers and mobile devices up to date.
Watch out for phishing scams. Do not click on links or open any attachments from sources you are not familiar with.
Research software you’d like to download or charitable organizations you’d like to contribute to, prior to doing so.
Recognize and avoid bogus websites. Rely on official sources for the most up-to-date information during times of crisis.
Help others by reporting scams (Refer to the FBI’s Internet Crime Complaint Center below to report suspected or confirmed scams).
Scammers are being extremely aggressive in their efforts to take advantage of people due to the increased financial hardship that many are experiencing during this unprecedented time. They are calling businesses and individuals, posing as bank or government employees, asking for bank account information, social security numbers, or other private information. Fraudsters often utilize social media, public records, or information bought on the Dark Web to initiate scams or target them to an individual. Scams that have been detected throughout the course of the Coronavirus include the following:
Peer-to-peer (P2P) payment systems are wonderful, as long as you stick to paying people you know and trust. If you use peer-to-peer (P2P) payment systems you’re likely confident in what you’re doing. You wouldn’t give a stranger your security codes, let them change your password, or send money to a totally random person. You’re too smart for that, right? In the latest P2P scam, that’s exactly what fraudsters are getting people to do, nationwide!
How it works:
How can you protect yourself?
P2P payment systems are typically very secure. They protect the sender and the receiver by keeping payment information confidential. They are very convenient, easy to use, and payments are sent instantly! However, just like anything else, you must protect your account! Do not share personal information or passcodes and only pay people you know and trust! Be aware. Be diligent.
To learn more about red flags that may help you identify fraud and phishing attempts, visit https://www.banksneveraskthat.com/, created by the American Bankers Association.
By pretending to email you from a bank or similar site, scammers “fish” for account numbers, passwords, social security numbers, etc. They trick consumers into divulging sensitive information that can be used to conduct fraudulent activity. Phishing email schemes change frequently but there are some common characteristics to look for. They often create a sense of urgency trying to convince you to act now. They will entice you to click on links or attachments. They usually contain spelling or grammar errors. You may also notice they have dropped, added, or changed a letter or two in the email address or links provided such as: bankofodesa instead of bankofodessa. Users who click on the links are taken to look-alike sites (they may look just like your Bank or Credit Card Company site) where they are asked to enter personal data. This personal data is then used to open fraudulent accounts, or even charge your banking accounts. If you get an unsolicited email, do not open the email. Do not click on any links or attachments. Do not follow any instructions or utilize any contact information they may have provided to you. Call your Bank or Credit Card company directly using the numbers provided on your Billing Statement or other trusted correspondence.
Telemarketing fraud occurs when someone conducts fraudulent sales over the telephone. The Federal Trade Commission has identified telemarketing fraud as one of the most persuasive deceptions. Senior citizens are a primary target for this type of fraud, making up to 80% of the victims affected by telemarketing scams. When you send money to people you do not know personally or give personal or financial information to unknown callers, you increase your chances of becoming a victim of telemarketing fraud. Tips to Avoid Telemarketing Fraud…From the FBI (link to https://www.fbi.gov/scams-and-safety/common-scams-and-crimes/telemarketing-fraud).
Warning Signs – From the FBI
The FBI’s website provides several warning signs:
Beware of the following statements a caller may make, such as:
If you hear these or similar statements from a telephone salesperson, just say “no thank you,” and hang up the phone.
Some Tips to Avoid Telemarketing Fraud:
If you have signed up to be a part of the National Do Not Call list, the number of phone solicitations you receive has probably subsided. Nonetheless, it’s wise to understand the types of telemarketing fraud that exist. Once this fraud has taken place it’s tough to get your money back. But you can avoid most fraud by carefully following these FBI guidelines:
If you have information about fraudulent activity, report it to your state, local, or federal law enforcement agencies.
Identity theft happens when someone steals your private personal information such as your social security number, your credit card number or your checking account number, and uses it to commit theft. It is much more than someone stealing your credit card. The thief may steal your checking account information, your mother’s maiden name or some other personal information, known only to you and your immediate family members in order to pose as you and drain your checking account, investments or other savings vehicles. How do you protect yourself?
Immediately contact the Company, or Bank that represents your credit card, your checking account, loan etc. to let them know of any fraudulent activity directed against you. Call Bank of Odessa (816) 633-5331 to report any discrepancies with your checking or savings accounts. Describe the circumstances with as much detail as possible. Let them know about charges you did not make, or withdrawals from your accounts… They can give you the necessary steps to correct the problem.
Contact Information – To Report Fraudulent Activity
If you have information about fraudulent activity, report it to your state, local, or federal law enforcement agencies. In addition, the local Better Business Bureau may be able to assist you.
Missouri Attorney General – http://ago.mo.gov
Missouri Better Business Bureau – http://www.kansascity.bbb.org
FBI’s Internet Crime Complaint Center – http://www.ic3.gov
FTC Scam Alerts – http://www.consumer.ftc.gov/features/scam-alerts
National Fraud Information Center
If you’d like to learn more about fraud and how to prevent it, the following websites provide even more detail than we have covered here.