Learn to spot financial fraud and common scams

Know Fraud When You See It

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Fraud is on the Rise

A routine activity like opening an email or text message, answering a call, or visiting a website can leave you vulnerable. Recognizing fraud and scams isn’t always easy, but knowing what to look for can help you avoid becoming a victim. Below are some common fraud scenarios to help you understand what to be on the lookout for.

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Fraud Prevention List

Phone Scams or Vishing

What to look for: A call from someone who is trying to get money or sensitive information from you. Scammers can spoof the number they're calling from so that it seems realistic.

Other signs of fraud include: The caller may claim to be from a high-profile company like the IRS or your bank, urging the need for personal information and/or payments. The caller may have bits of information about you that are true or at least familiar. Vishing callers also make other claims of high-stakes urgency like a sweepstakes or lottery win and ask for the fee necessary for you to collect winnings. Always remember that a Mechanics Bank representative will never call you and ask for your debit card number, pin, or your Online Banking Password.

Phishing or Email Fraud

What to look for: Fraudulent emails typically imply urgency, attempting to get you to act quickly before you have time to carefully read and examine the message. They often don't address you by name and contain obvious grammar and/or spelling errors.

Other signs of email fraud: If you hover over a link in a fraudulent email (don't click it), it will usually show you that it's pointing to a site different from the one stated in the message. The goal is to get you to click through to a web page where you'll be asked to provide personal information or open an attachment that may be malicious.

SMS or Text Message Fraud

What to look for: As with fraudulent emails, fraudulent text messages often suggest urgent action, attempting to get you to act quickly before you have time to carefully read and examine the message. They often don't address you by name and contain obvious grammar and/or spelling errors.

Other signs of text message fraud include: Promises of free gifts in exchange for your personal or bank account information. Never click a link in a suspicious text message: It could result in malware being loaded to your phone that sends your personal information to a scammer. Visit the FTC page about text message spam.

What To Do If You Are A Victim Of Fraud

If you think that you or someone you love have been the victim of fraud or identity theft, time is of the essence.

Take Action

Recognizing Malware

What is Malware: Malware is short for "malicious software." It includes a wide range of online threats such as viruses, worms, spyware and Trojan horses. Fraudsters use many methods to try and get malware onto your computer including e-mail, instant messages, fake Web sites and by offering a desirable download such as free songs or virus scans.

What are the signs of Malware: Most malware tries to stay unnoticed, either by actively hiding or by simply not making its presence known to the user. Some types of malware will cause a few noticeable differences in your computer. A computer may be infected with malware if it:

Slows down or displays repeated error messages
Behaves strangely, such as spontaneously rebooting, won't shut down or restart correctly
Displays Web pages or programs you didn't request
Sends e-mails you didn't write

What you can do to prevent Malware: You can both protect yourself from and avoid malware from getting onto your computer. Many attacks can be avoided with the help of security software and some basic online safety tips.

Install anti-virus and anti-spyware security software from a well known company and keep it up-to-date. Set it to automatically install updates.
Use a firewall to protect your computer from unauthorized access and configure it to block unsolicited requests for outgoing communication.