common scams the online job & business scam · pdf filefinancial scams:! gs common scams...
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FINANCIAL SCAMS:
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KNOW THE RED FLAGS
COMMON SCAMS
THE ONLINE JOB & BUSINESS SCAM
THE SWEETHEART SCAM
THE FINANCIAL WINDFALL SCAM
THE MASQUERADING SCAM
THE IDENTITY THEFT & PHISHING SCAM
... deposit checks and send funds to various entities, while you keep a portion as payment.
... that urgently requests you updatepersonal information with links to an external site.
... states meeting you was “destiny” and the majority of communication is online or through text.
... states you won a lottery (foreign or domestic),but you did not enter one.
... via phone, fax, or emailappearing to be from a high ranking company official.
Do not reply to email, text, or pop-up messages that ask for your personal or financial information.
Do not click on links even if the message seems to be from anorganization you trust.
Do not send or move money for someone you have just met or met online.
Do not deposit checks you received in the mail from unknown senders.
Establish a multi-person approval process for wire transfers above a certain dollar threshold.
Confirm transfer requests by contacting the company or authorized source directly.
DON’T GET RIPPED OFF. IF IT SOUNDS TOO GOOD TO BE TRUE,
IT PROBABLY IS!
... from a compromised orimpersonated email account that looks legitimate.
... to an unusual foreign bank account that's controlled by a fraudster.
... and may also ask for personal info such as W-2s or employment records.
... contacts you about money you’re entitled to, but you must send them money first.
... sends you a counterfeit check as payment, but you must return a portion to pay fees and taxes.
... claims to be from the U.S., but is currently living, working, or traveling abroad.
... requests money for a variety of reasons: medical emergencyor travel expenses.
... that includes attachments or asks you to download files.
From October 2013 through May 2016, there have been
victims, with losses totaling over
in the U.S.
You receive an email, text, or pop-up message….
The person you meet online…
A notice from a prestigious title such as a government official or royalty….
Also known as the Business Email Compromise, in which a business receives a request to transfer funds…
An employer or business asks you to….... share your debit card or online banking credentials to deposit or transfer money.
For more fraud prevention tips, check out Bank of the West’s external security center: https://www.bankofthewest.com/security-center-personal.html
And the in-brief video series on YouTube: http://gowe.st/SecDownloadsPL
Sources:https://www.symantec.com/content/dam/symantec/docs/reports/istr-21-2016-en.pdfhttp://www.fbi.gov/news/stories/2012/february/dating-scams_021412http://blog.aarp.org/2013/03/11/staggering-stories-of-jamaican-lottery-scams/http://www.ic3.gov/media/2016/160614.aspxhttp://gowe.st/Masquerading
TIPS FOR PREVENTION
... be a mystery shopper and then sends you a counterfeit check, but you must return a portion (wire or Western Union) to the sender.
1 in 220emails contains
malware
of victims do not report
this scam
92%
15,688
$1 billion
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© 2016 Bank of the WestMember FDIC. Equal Housing Lender.
Financial scams are a big business, often resulting in monetary losses, damaged credit ratings, and reputational damage for victims. Educating yourself on the red flags is one
of the best ways you can protect yourself from being a victim.