It is important to understand the common methods used by fraudsters in order to protect your personal information.
Common Methods Used By Fraudsters
- Business Email Compromise: This scam starts when a business executive or employee's email account is compromised or spoofed. The fraudster uses this email account to trick other employees into submitting wire requests. Make sure to follow all business procedures before performing a transfer. When in doubt, it's best to call the originator and verify the transfer.
- Ransomware: This attack is usually delivered via a macro in an email attachment or a malicious website. Once installed, the software encrypts files on your computer and requests payment for a decryption key. Make sure you have backups of your files and store them in a different physical location.
- Phishing: Spam email or website popup messages to trick you into disclosing personal information (e.g. usernames, password, account numbers). Spotting them is not always easy. Look for urgent appeals, links that don't match the company, offers that sound too good to be true, and typos or other grammar mistakes. Remember, Bank SNB will never ask for your username and password in email.
- SMSishing/Vishing/Twishing: The goals of these methods are similar to phishing. They only differ in how the scam is initiated (text messages, voicemail or live phone calls, or tweets with spoofed links). Sometimes it's best to directly enter the web address into your browser instead of clicking on a link.
- Malware (Viruses/Worms/Trojans): Software that is installed on your computer without your knowledge. It may automatically replicate itself, steal logins and passwords, allow remote control of your computer, delete files and other methods to impact your computer experience. Use a reputable anti-virus software and keep it up to date. Be cautious of links in emails and while browsing websites.
- Social Engineering: The fraudster relies on creating fake profiles to build relationships with you or those you trust. Once connected, they gather your information and attempt to steal your identity. Only connect with people you know and limit what others can see about you. Be careful posting information about children, vacation schedules and personal details that may not be publically available.