04/13/2020: Beware of increased “Phishing” events during the COVID-19 pandemic. Keep your information secure and do not share it. >>Read more
There has been an increase in phishing events during the COVID-19 pandemic. Phishing events occur when a fraudster attempts to steal a person’s data, mainly login credentials and account or card information. The fraudster then uses this information to process fraudulent account or card transactions or ATM withdrawals. Fraudsters often utilize social media or information bought on the Dark Web to initiate scams.
An example of how a cardholder Phishing Scam works:
• The fraudster gathers information from social media to make the fraud more believable.
• Cardholder receives a phone call from the fraudster posing as a financial institution employee.
o Fraudsters often spoof phone numbers from the financial institution when contacting the victim, making it seem legitimate.
• Fraudster advises cardholder that they have fraud attempts on their card and they will receive a text with a case number.
o While on the phone, the fraudster will perform a transaction they know will generate a fraud alert.
o When the cardholder receives the case number, the fraudster asks for the case number over the phone so the card can be permanently blocked. Instead, the fraudster is using the case number to call into the Fraud Department and validate the activity as valid, so they can continue to use the card fraudulently.
• The fraudster may suggest the cardholder transfer money into their checking account from savings to make it “safer,” thereby giving the fraudster access to more money.
• The cardholder thinks the fraud was caught and stopped, while the fraudster is busy committing more fraudulent transactions and stealing more money.
As a reminder, Security State Bank will never contact our customers to ask for the following:
• Account Number/Card Number
• Social Security Number
• Online Banking Credentials
Security State Bank will never advise a cardholder to transfer money or withdraw money. If any information concerning suspicious activity is texted to the cardholder, our customers are not called and asked for information. When cardholders call into the Fraud Department to validate suspicious transactions, the Fraud Department will request the case number to authenticate them. The cardholder should always reply NO if they are unaware of the transactions in question received via a text or email, no matter what direction has been given to them.
If you are concerned about the validity of an email, text, or phone call you receive concerning your Security State Bank account or card information, please contact your local branch or call our Customer Care Center at 360.736.0763 or 800.242.2036 for assistance.