Originally published as an interview on KSTP by Paul Folger Off Site Link. This version was edited and repurposed by Sunrise Banks. Original interview available here: How to protect yourself from cyber scams. Off Site Link
Key Takeaways:
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Scams are everywhere, and fraudsters are usually trying to target consumers’ money
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Be wary if someone is asking for any personal information or a wire transfer
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Hang up and call your bank back at the number listed on its official website if anything feels off
These days, it feels like cyber scams are everywhere. In an interview with KSTP Off Site Link anchor and journalist Paul Folger, Teri Hodgett, Chief Risk Officer, spoke about ways consumers can protect themselves from fraud.
Scams are rampant right now, and Hodgett said fraudsters try to hit people in their pocketbook, where it hurts most.
“Fraudsters are calling customers and pretending to be from the bank,” Teri Hodgett, Chief Risk Officer, told KSTP. “Usually, they are pretending to be from the fraud department of a bank.”
She said they will tell the consumer there’s an unauthorized transaction or someone is trying to log into their account. The scammers will ask for personal information that your bank already has.
“We don’t need your full debit card number,” Teri Hodgett, Chief Risk Officer, said. “We don’t need PINs, none of that. So, if you’re getting a phone call from the bank and they’re asking for that information, that is a big red flag.”
Hodgett also told KSTP that consumers should be extra wary of requests for wire transfers, because once that money is gone, it’s gone.
The best thing to do? Hang up and call back. Find your bank’s number on its official website, not the one that’s on your caller ID or the one the person on the other line is giving to you.
“That’s really the best option,” Teri Hodgett, Chief Risk Officer, told KSTP. “Initiate that phone call with a known number for your financial institution. Not one that they’re giving you.”
And it’s not only consumers who are vulnerable, but businesses as well, Hodgett said. Business owners should follow the same guidance and be wary of anyone calling who says they are from your financial institution.