Beware of scare tactics


October is National Cybersecurity Awareness Month, and we want every bank customer to become a pro at spotting a phishing scam. It starts with these four words: Banks Never Ask That.

Phishing scams are taking a toll on consumers, including bank customers.

Victims of phishing scams can lose hundreds, even thousands of dollars. The FTC estimates that consumers lost $1.9 billion to phishing schemes in 2019 and the pandemic has only increased the threat.

Pro Tip #2: Beware of scare tactics.

Scammers are taking advantage of the fear and uncertainty surrounding COVID-19, as well as the expanded use of digital banking platforms, and tricking consumers into giving up their personal and financial information.

Attackers are taking advantage of the COVID-19 pandemic by sending phishing emails that look like legitimate awareness training or refunds for event cancellations. Falling for one of these malicious emails can do real harm.

Do not respond to the caller’s requests. Financial institutions and legitimate companies will never call you to request your personal information. Never give personal information to the incoming caller. Remember, Banks Never Ask That. 

For more tips on how to keep phishing criminals at bay, keep an eye out for pro tips from Horizon each week this month.