You Can Help Us Stop Fraud In Its Tracks
Fraud has rapidly become a terrifying threat to the security of banks, businesses, and people just like you. Different types of fraud have been making headlines across the country lately. From romance scams to check writing scams and from skimmers to wire fraud, there is an endless array of ways for criminals to steal money from innocent people.
VCNB President Tom Oyer likens 21st century fraud to the bank robbers his ancestors fought over the almost 160 years our bank has been in business. “We used to just worry about bank robbers coming in the front doors but now there are so many other ways the bad guys can steal money. Unfortunately, every time banks learn how to face a threat, another scam pops up and we start again.”
Sometimes the threats come from things like a text or an email where a customer is pressured to click a link or when they get a call claiming there’s an issue with their bank account. The stranger says “give me your password or PIN and I’ll help you save your money.” By the time the unsuspecting customer figures out they made a mistake, it’s too late. Their money is stolen.
Often times these scammers take advantage of our humanity. You meet someone friendly who you click with online. They’re romantic and kind. They’re a great listener. You’re lonely. You fall in love with someone you’ve never met. Then they start asking for money or gift cards. Send a wire transfer so they can come visit or so they can put a down payment on a home for the two of you. Give them money right now so you’ll be happy together someday. That’s what they say. Once you send the money, they want more and once they think they’ve drained your resources, they disappear with your money and leave behind a broken heart.
They pretend to be a grandchild who needs medical care or an IRS official who threatens your freedom if you don’t pay up today. Sometimes they try to fool bankers. It happens more than you think and it troubles us more than you would believe. After all, building relationships and helping people is at the cornerstone of what we community bankers do.
But fraud hurts all of us. It costs all of us. If you’ve been victimized, you know the hardship and fear that causes but it costs all of us in ways both big and small.
Banks now are taking measures to protect their customers and themselves. Sometimes these changes make banking just a little harder for customers. You know what’s truly terrible about that?
Every time we make a change to protect our customers from fraud, we are doing it because of the criminals. They’re forcing the rest of us to change just so we can keep up with their abhorrent activities. But this isn’t just about the bank. It’s about all of us and what we can do to work together to fight fraud and to help us all rest easier.
The world needs citizens who will set difficult to guess passwords and debit card PINs. We need more people who put the brakes on a conversation where a stranger is asking for information that isn’t their business. We need everyone to avoid clicking weird links and to check for card skimmers at the checkout or the gas pump. We need our customers to be patient with us when we ask questions – not because we’re nosy or because we don’t want to help – but to make sure that a customer isn’t about to be victimized.
We have begun talking about different types of scams on our social media and about ways you can help yourself and your loved ones avoid trouble. So, keep checking back. We’re in this together and we hope you will join us.