By: Jacqueline Paladino, Consumer Banking Market Leader, Bank of America Jacksonville | Did you know that consumers have reported losing an average of more than $10 billion annually to imposter scams in recent years? This has driven an evolution in scam prevention, as digital threats grow more sophisticated, sometimes leveraging deep-fake technology to mimic real voices and faces. Managing digital risk today means more than just avoiding suspicious links.
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Know how to spot an imposter. Imposters may pose as a trusted figure, claim there’s an issue and urge you to act quickly. They may reach out saying there’s fraud on your account, an unexpected fee or another problem requiring you to move or withdraw money. If they ask you to deposit cash into a “new” account or share your PIN or security code, pause and ask yourself, “Does what they’re asking make sense?” While their stories may change, their tactics don’t, so being aware of these red flags can help you stay protected.
Take note of how you’re asked to pay. Scammers typically demand payments via cryptocurrency, payment apps, gift cards, or other nontraditional forms of payment, as these methods are nearly impossible to trace or reverse. Remember, legitimate banks will never instruct you to transfer funds, not even to yourself. Always exercise caution and question unusual payment requests.
Stay vigilant against phishing attacks. Never click any links, reply to or download attachments from suspicious emails. Even legitimate-looking links can be phishing traps. Always access a company’s website via a direct URL search or official app. Scammers evolve, so vigilance and mobile and online security best practices like strong passcodes and security updates for devices are crucial for proactive online safety.
Utilize the security features on your mobile banking app. Through Bank of America’s mobile banking app, clients have access to alerts to suspicious activity and real-time guidance on how to help protect against scams. Taking steps to protect your mobile and online accounts with strong passwords and fingerprint sign-on or facial recognition can also ensure the safety of your online account.
Be aware of your bank’s resources. Many banks offer resources to ensure you have the tips and tricks to keep your information safe. For example, the Bank of America Security Center brings together security features and fraud education to help you avoid scams and suspicious activity before they happen. Available online or in the mobile app, the Security Center also features a security meter to show the current level of protection of your accounts and gives you steps on how you can further increase your security.