At Signature Bank, we know how important it is to protect your critical and sensitive information. To help you enhance your cyber defenses, we will highlight several common cyber-attacks and ways to protect yourself from scammers. Please stay with us throughout the year to learn more!

Scammers use a sense of urgency to get you to divulge your personal identifiable information, often even getting you to send money in advance. Be on the lookout for these SCAM warning signs when someone you do not know wants you to act now:

S – Sense of urgency from a stranger

C – Communications you were not expecting

A – Action is immediately required

M – Money is requested upfront

Make sure to stay vigilant to avoid these common scams!

Elder Fraud

Elder fraud is financial fraud or confidence schemes targeted at older adults, making them vulnerable to exploitation. There are various warning signs, including unexplained withdrawals or missing cash from bank accounts, calls for an unpaid bill, requests to modify power of attorney or to change one's will, requests to keep conversations or relationships a secret, and pressure to act immediately. Other red flags include requests to send money via wire transfer, gift card, or prepaid money card, guarantees to make money, attempts to isolate the individuals from their family and friends, and threats of harm, neglect, abandonment, or removal from their home.

Tech Support Scam

A Tech Support Scam is the act of fraudsters attempting to gain remote access to your computer or banking details through unsolicited tech support, often by fabricating non-existent issues. This could include unsolicited tech support, calls, or messages from someone claiming to represent a tech company and offering to troubleshoot a computer issue of which you are not aware. Other red flags include sudden pop-ups or spam emails notifying you of an urgent problem with your computer.

Be leery! Never give out your personal identifiable information to anyone and do not sign documents you do not completely understand. Be sure to regularly check your credit report and always remember…if it sounds too good to be true, it probably is! The easiest way to protect yourself from cyber-attacks is to remain vigilant. Remember these pro tips to help you spot these common scams:

• Watch for misspelled words.
• Beware of scare tactics.
• Never share your PIN or password.
• Be wary of suspicious links.

Sources:

• American Bankers Association (2022). Banks Never Ask That.
• Dave Yost, Ohio Attorney General. Elder Fraud and Financial Exploitation brochure.
• Consumer Affairs (2022). Senior Financial Scams: How fraudsters target older adults in 2021.
• Cybersecurity & Infrastructure Security Agency (CISA). Common Scams.
• Statista (2023). Tech support fraud losses in the United States from 2017 to 2022.

The referenced sources above are provided as a courtesy. Signature Bank does not endorse or control the content of these sources or websites.