Foiled fraud squad FRAUD ALERT: BY JAKE POINIER
E MAIL SCAMS AREN’T just the domain of far-off “princes” and international “billionaires” anymore. Fraudsters have become increasingly sophisticated, using proper grammar, real logos and legitimate-looking email addresses. In November, a CB&T branch service manager and their team helped prevent a customer from falling for an especially convincing scam. The fake invoice “Our customer, let’s call him Bill, received a renewal invoice from a company pretending to be Geek Squad,” the branch service manager said. “It included an account number and date of activation, and coincidentally, Bill had used Geek Squad in the past so it seemed like it could be real.” The email included a phone number, so Bill called to question the invoice and, sure enough, they answered “Geek Squad,” further adding to the legitimacy. When he questioned that he’d ever signed up, the fake agent responded, “Oh, you’re right, we actually owe you a refund of $300!” Who wants to turn down a windfall?
allowed the agent to remotely access his computer, open his bank browser and manipulate Bill’s refund request for $300. The agent on the phone convinced Bill that he entered too many zeros and submitted a “refund request” of $30,000 instead of $300. And indeed, Bill’s checking account showed a pending $30,000 deposit. The agent advised the
solution was to go to his bank as soon as possible to wire the $29,700 overpayment.
The red flags First, the agent cautioned Bill not
to tell the bank why he was making the transfer. Second, the wiring instructions were
directed to an individual in Peru. Bill was suspicious he’d fallen into a trap and, ignoring the secretive instructions, went to the branch to resolve the issue. Foiled fraud attempt The wire wasn’t sent, and the CB&T fraud department employed additional countermeasures to help keep Bill’s account protected. It’s a happy ending to this cautionary tale and a reminder that if something sounds too good to be true, it probably is.
The link that gave fraudsters remote access
The agent asked Bill to log in to his bank account and sent a link that would allow them to do the refund. However, this phishing link that Bill clicked
SIX TAKEAWAYS TO HELP AVOID FRAUD
Carefully scrutinize all requests for funds transfers to determine if the requests are out of the ordinary 1
Don’t feel rushed. Be wary anytime an unknown person expresses extreme urgency about a questionable payment 3
Think before you speak — scammers want you to act and give out information before you think things through Scammers may try to scare or pressure you. If you’re ever unsure, just default to “no.” 6 5
Don’t click suspicious links in email messages
Confirm requests for transfers of funds by using
2
4
from people you don’t know and never allow remote access to your computer unless you initiated the request and are dealing with a known, vetted source
phone or in-person verification; use previously known numbers and not the numbers provided in the email request
calbanktrust.com/ inyourcorner
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