Don't let fear open the door to fraud
posted by Mike Burke on Tuesday, March 24, 2020 in SHAZAM Blog
For years, fraudsters have emerged and taken advantage of people when they are vulnerable, and with COVID-19 center stage right now, the opportunity for fraud is peaking. Fraudsters prey on emotion. Their favorite is fear. During these uncertain times, communicating with cardholders is critical.
Remind your cardholders …
- We’ll NEVER call, text or email to ask for account numbers, card numbers or your PIN.
- Don’t donate to charities until you fact-check to make sure the charity is real.
- Be attentive to the elderly. Fraudsters are targeting them with offers to grocery shop and then requesting their private banking information for payment.
- Visit only trusted online shopping sites. Be skeptical of any website that offers premium goods at unbelievable prices — no matter how authentic-looking it is. This includes free trial offers that dupe you into monthly fees in the fine print because the dollar amounts are spelled out in words (five dollars) rather than listed in a typical dollar-amount format ($5).
- Don’t wire money to anyone without being 100% certain you know the receiver is who you think it is. Have you called them using a phone number in your contacts to confirm they need the funds? Very few people ask for money to be wired to them. Talk to your bank or credit union to get advice on how best to move money to someone else.
- Hang up on robocalls. Pressing a key, even the opt-out option, may lead to more calls.
- Don’t respond to texts and emails about checks from the government or threats from the IRS. Rest assured, if the government wants to get in touch with you, it will likely be by U.S. mail.
The SHAZAM Power Marketing Program, available at SHAZAM Access > Marketing > SHAZAM Power Marketing, offers campaigns to help with your educational activities. Here are a few to assist with your anti-fraud communication efforts:
- It’s a Fraud Jungle out there – protect yourself!
- Take Five
- Elderly Fraud R.I.S.K.
- Confessions of a Cyber Thief
Together, we can stop scammers in their tracks and keep cardholders safe, even in uncertain and unprecedented times.
For more information on current and emerging scams, see Coronavirus Scams: What the Federal Trade Commission is doing.
About the Author
Mike Burke is a veteran law enforcement professional with experience in criminal justice instruction, homeland security and fraud investigation. He guides SHAZAM clients to enhance their security measures and ensure regulatory compliance.
SHAZAM, Inc. and ITS, Inc. provide this blog for general informational purposes only. Our blog may be shared by a direct link wherein the content remains as originally presented and has not been altered. SHAZAM, Inc. and ITS, Inc. assume no responsibility for errors or omissions in the contents on the blog. By using this blog, reader agrees that the information published does not constitute nor is a substitute for legal advice which should only be sought from a qualified, licensed attorney.
comments powered by