1st Quarter, 2021
WORKING TOGETHER TO KEEP YOUR FINANCIAL INFORMATION SAFE
W
e know we talk a lot about the importance of safeguarding your financial information in the digital space. But we believe this is a message that bears repeating, especially as consumer fraud continues to hit new records. The Federal Trade Commission (FTC) received 1.4 million reports of identity theft in 2020, double the number from 2019. Americans lost over $1.9 billion in 2019 due to fraudulent activity. Unfortunately, scammers are taking special advantage of people’s fears and needs during the pandemic. As the COVID-19 vaccine rolls out, bad actors are looking to cash in. They’re using the same methods we’ve seen with stimulus payment and tax refund frauds, just with updated hooks. For example, you might get a phone call or email saying you are eligible to receive the vaccine. It may appear to come from a public health official or local clinic or hospital. But then you learn you need to provide personal information or even pay for the vaccine up front. In one scam reported to the Better Business Bureau, the phony caller asks for your Medicare number and home address. Another version targets its victims through
by
T O D D S . A DA M S chief executive officer
social media. Someone impersonating a “friend” claims to know about a fast track to a vaccine if payment is made immediately. Other frauds involve signing up for fake wait lists.
Helping you stay safe is one of the cornerstones of our relationship with our customers. Adams Bank & Trust has several teams dedicated to cybersecurity and fraud protection. Each team is tasked with watching different Scammer s are t ak in g ad vant a ge banking areas and focusing on different aspects of financial of p eople’s fear s dur in g t he security. We incorporate best pandemic . We want to help industry practices into every you b e on g uard a gain s t t hi s facet of our organization. As a community bank, we work t y p e of f raud , e spec iall y a s t he hard to know and connect COV I D -19 vacc ine i s rolled out . with our customers. This familiarity also helps us to identify various frauds and TIPS FOR SPOT TING better protect you.
A VACCINE SCAM:
✔ Learn how the vaccine is being rolled
out in your area. Review your local health department’s website to find out how you need to register and how you’ll be contacted. This will make it easier to know a scam when you see one. Check the URL on links. A scammer may have invested in an official-looking domain, so beware of unsolicited contact. If it claims to be from the local government, does the URL end in .gov? When in doubt, look up the entity’s website or number and contact them directly. Don’t give out your government-issued numbers or personal information. As always, be suspicious of anyone asking for your Medicare ID number, Social Security number, insurance, or banking information.
✔ ✔
In t h is yea r ’s More For Your Money articles, I’ll be reviewing the different types of frauds, the new forms that frauds are taking, and the various ways the bank can help you protect yourself. From check fraud to IRS and Social Security schemes to phishing, forewarned is forearmed. Next quarter, we’ll take a look at mail and check fraud, and talk about the steps you can take to avoid being a victim.
SERVING NEBR A SK A , C OLOR A DO & K A NS A S | 800. 422.3 4 88 | INFO@A BTBA NK .C OM