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Follow the tips on our 'Stay Protected' page and be aware of any suspicious activity on your bank or credit card statements or on your credit report. It is important that you report these activities quickly in order to put a stop to the fraud and minimize the impact these activities have on your credit score and finances.
Report any suspected fraud or identity theft activity concerning your American Bank accounts or services immediately to Client Services from 7 am to 6 pm weekdays. You should also contact the Federal Trade Commission (FTC):
Equifax: (800) 525-6285
Experian: (888) 397-3742
TransUnion: (800) 680-7289
Contact your credit card companies if you suspect your credit card numbers have been compromised. Their numbers can be found on the back of your credit cards.
Below is a list of the most active and dangerous fraud attacks discovered around the world. Staying informed is the best way to avoid falling victim to one of these scams.
Fraudsters benefit during uncertain times and during times when they know people are busy and unfocused. They are certain to take advantage of the 2020 holiday season using various tactics. Your best defense is knowledge and vigilance.
Here are some quick tips on keeping your finances and identity protected anytime – but especially through the upcoming holiday season.
Email phishing campaigns where malicious actors are impersonating the Small Business Administration (SBA) to collect personally identifiable information (PII) for fraudulent purposes have surfaced. The SBA is particularly concerned about scam emails targeting applicants of the SBA’s Economic Injury Disaster Loan Program asking them to verify their accounts using a third-party online platform to collect personally identifiable information.
It should be noted that any email communication from the SBA will only come from email accounts ending in sba.gov. Applicants are advised to help protect their identity and privacy by never providing PII in public-facing comments or responses to third-party emails.
The SBA will not use a third-party platform to:
Additionally, federal agencies that provide disaster recovery assistance will never ask for a fee or payment to apply for financial assistance. Loan applicants and borrowers should be vigilant in protecting their personal information and data assets. Visit sba.gov/COVIDfraudalert to learn more about scams and fraud schemes.
Business Email Compromise (BEC) is a scam that targets both businesses and the associated individuals who have the ability to send checks, wire transfers, and ACH transfers. Capitalizing on shifting business practices during the COVID-19 pandemic, BEC fraudsters impersonate vendors and ask for payment outside the normal course of business. In a typical BEC scheme, the victim receives a message supposedly from a company the victim normally conducts business with. The message requests that standard payment practices be altered in some way, such as by sending money to a new account. Be on the lookout for the following:
For more information, visit fbi.gov.
Cybercriminals are using the uncertainty surrounding the Coronavirus (COVID-19) to sell bogus products or use fake emails, texts, and social media posts to take your money and get your personal information.
We have recently seen an increase in fraudulently obtained unemployment benefits where the fraudster has filed an unemployment claim on behalf of a person who is actually still working. Then, by way of a separate event involving a romance-type scam, the criminal convinces the victim to provide their bank account information so that the criminal can access the unemployment funds deposit unbeknownst to the victim and then send those fraudulently obtained funds elsewhere.
Follow these tips to help avoid COVID-19 scammers:
For more information, see ftc.gov.
"Phishing" is when a fraudster sends emails to a user that appears to be from a reputable company, organization or even a friend to entice them to reveal personal information, such as passwords and credit card numbers. When victims receive these emails, and believe they are legitimate, it leads them to open a malicious attachment that will cause malware to infect their system or prompts the victim to enter their login credentials and expose personal and confidential information. This type of fraud can lead to financial crimes such as business email compromise, personal information theft, ransomware and account takeovers.
It's critical to be wary of suspicious e-mails even if they appear to be from a friend. Never open attachments or click on links, until you've confirmed their legitimacy. Make sure you stay protected and know how to limit your risk of fraud and what steps to take if you become a victim.
“Vishing” is when a fraudster uses the telephone to scam a user into providing private or confidential information such as online banking credentials. We have been alerted to an increase in vishing scams occurring. Users report that they are receiving a phone call from an imposter “Security Officer of a Bank” asking them to confirm suspicious transactions on their account. Once they confirm the transactions are not valid, the imposter proceeds to “verify” the end user by asking them to provide their Online Banking credentials including Out of Band Authentication codes. The fraudster then gains access to the user's accounts and can complete fraudulent transactions.
Remember that American Bank will never ask you for your login credentials. If you receive a phone call that appears to be fraudulent, please call us directly to report the incident. Make sure you Stay Protected and know how to limit your risk of fraud and what steps to take if you become a victim.
Tech Support Fraud involves a criminal claiming to provide customer, security, or technical support in an effort to defraud unwitting individuals. This type of fraud continues to be a problematic and widespread scam.
Criminals may pose as a security, customer, or technical support representative offering to resolve such issues as a compromised e-mail or bank account, a virus on a computer, or to assist with a software license renewal. Some recent complaints involve criminals posing as technical support representatives for computer or printer companies, cable companies, or government agents, even offering to recover supposed losses related to tech support fraud schemes or to request financial assistance with “apprehending” criminals.
Initial contact with the victim typically occurs through the following methods:
Tech support fraud was originally an attempt by criminals to gain access to devices to extort payment for fraudulent services. However, criminals are creating new techniques and versions of schemes to advance and perpetuate fraud. Never give unknown, unverified persons remote access to devices or accounts and remember that legitimate customer, security, or tech support companies will not initiate unsolicited contact with individuals. You should also ensure all computer anti-virus, security, and malware protection is up to date. Some victims report their anti-virus software provided warnings prior to attempt. Read our Identity Theft Safety Tips for more information on how to fight fraud and what to do if you become a victim.