Five Strategies for Steering Clear of Scams

When stories of financial scams appear in the news, people want to know how to avoid becoming victims of similar schemes. The good news is, a few smart strategies can go a long way when it comes to fending off fraudsters. 

Put these 5 tips into practice to protect your information and assets:

1.) Only share your personal information with people and organizations you trust. 

Scammers who are armed with your information, after all, may know just enough about you to sound credible if they can convince you to pick up the phone or reply to an email or text. If you are entering into any kind of user agreement or subscribing to a service online, be sure to read the fine print before finalizing the process. In doing so, you may discover that the organization provides the personal information of users or subscribers to third parties—you may not want them to have your information!

 2.) Ensure that your computers and phones have the latest security features by updating them regularly. 

Updating the operating systems on your computers and phones will equip your devices with the latest security patches and features. Enabling automatic updates will ensure that you always receive the latest security features as soon as they become available. These features work to protect your devices from bad actors who exploit vulnerabilities to access personal information. If you are using anti-virus or malware software to protect your devices, be sure to update them, too. 

3.) Use a secure, password-protected internet connection, and update important passwords online, too. 

Add an important layer of protection to your assets by password-protecting your internet connection at home. Be sure to regularly update passwords for your email provider, banks, credit unions, and any other organizations you have entrusted with information or assets, too.  

4.) Be discerning when it comes to phone calls from unfamiliar numbers, and emails and texts from unfamiliar senders. 

While someone you do not know may have a legitimate reason for contacting you, if you are not sure who is calling or messaging, you should not assume they are trustworthy. When an unknown number appears on your phone, let the call go to voicemail so you can evaluate the message without engaging with a person who may or may not be on the level. 

Scammers can also manipulate caller ID so the call appears to come from a local source or reputable company. These strategies give the potential recipient additional incentive to answer. As a general rule of thumb, if you do not recognize the number, or you have not been in touch with the company purportedly calling you, let it go to voicemail.

Ask yourself the following questions when listening to voicemails from unfamiliar numbers, or when reading emails or texts from unfamiliar senders:

• Who does this person claim to be?

• What organizations do they claim to represent, and what evidence do I have that they actually represent these organizations?

• What do they want? If they want information or money, do not supply them with either one. 

• Are they attempting to pressure you to supply information or money, perhaps by presenting you with an “opportunity” to avoid a penalty by paying a supposedly delinquent amount over the phone? 

For messages that do not pass the sniff test, add callers and senders to a list of blocked messengers so you will no longer receive communication from them. To do this, you may need to search online to determine how to block phone numbers or email addresses for your particular phone service or email provider. 

5.) Recognize phishing so scammers cannot reel you in “hook, line, and sinker.”

Phishers hide behind a guise of credibility to reel you in and prompt you to provide them with information or payment. If you receive an email from what appears to be a credible organization, be on the lookout for these signs that something is “phishy.”

• Instead of using your name, the message is generic in its approach to the recipient—the digital equivalent of saying “Hey you!” instead of addressing you personally.

• The email features misspellings or grammatical errors that would never survive the screening process of a company’s communication team.

• The email features a link that will take you to a site where you can “update your information.”

If you are one of the company’s customers and you are concerned the email is real, do not click the link. Instead, access the company’s website the way you usually do. If you have no active account alerts, the email is probably from a phisher. Before deleting the email, take the steps necessary to report this phishing incident to your email service provider. In doing so, you can help protect others from fraudsters.

If you have questions about protecting your information or assets, let us know. Here at First National Bank of Sycamore, we want valued customers like you to feel safe. Reach out to us anytime you need help navigating any concerns you might have about the security of your accounts. We are happy to sit down with you, and we look forward to hearing from you!