FRAUD TYPES
This type of fraud is where the scam artists send emails pretending to be from banks, popular merchants and other known entities and will ask for personal information like- Bank account numbers, Social Security numbers. They may also ask for date of birth and other valuable information.
Phishing emails
This fraud refers to malicious software that holds computers, smartphones or other device hostage by restricting access until a ransom is paid. This is normally spread when someone clicks on an infected email attachment or a link in an email that leads to a contaminated file or website.
Ransomware
Anytime there is fraud at one of our locations or we have suspicions of fraud we should send the information to...
John Wolford
If a customer has experienced fraud in the past you should see ___________________. Always read them before proceeding forward with the transaction.
alerts on the account
The suspect calls/emails claiming to be a family member or friend in trouble and in need of money right away.
Urgent help request
This type of fraud can be an urgent help request, dating and love matters, or home care. The scammer calls the ELDERLY VICTIM with a certain type of need and can either request money or send a "check" for a larger amount and will "need" the victim to buy things for the job.
Elder abuse
This type of fraud can be utility SHUTOFFS, IRS/ back taxes, or arrest WARRANTS. The scammer will pretend to be a representative from a known company and request money usually followed by a threat (jail time/ end of services) if the "bill" is not paid.
Warrants and Shutoffs
What are the B.A.S.I.C.S. of stopping fraud?
Be there, ask questions, seek answers, investigate, clarify, and stop fraud!
A customer that goes to other branches to avoid fraud detection is called ____________.
branch hopping
What two things can help you stop a fraudulent check and spot suspicious behavior?
Slowing down and asking important questions.
When a scammer is posing as a debt collector or law enforcement official and is attempting to collect a debt that isn't really owed. Red flags for this type of fraud include a caller who won't provide written proof of the debt owed or one who threatens the victim with arrest or violence for not paying.
Debt Collection
What are the three types of WARRANTS and SHUTOFFS scams?
Utility shutoffs, arrest warrants, and IRS/ back taxes.
What is a physical indication that someone may be a victim of fraud?
Imagine the victim/customer coming into the branch, how are they acting?
Showing heightened emotions. (really angry, nervous, excited, etc..)
If a customer seems really excited, sad, nervous, or anything out of the normal they are experiencing ________________.
exaggerated emotions
If a customer opens an account online and only makes ATM deposits, this is considered a RED FLAG and Why?
True or False
True!
The customer is providing limited exposure to bank personnel.
This type of scam is when the victim is told they have won millions but must pay the taxes or a processing fee to receive their winnings.
Lottery scam
This type of scam can be investments, CHARITIES, or an INHERITANCE. The victim may be offered to invest in stocks, may be asked for donations, or may be told a long lost relative has passed but to receive funds they have to first pay legal fees.
Charities & Inheritance
Ask more questions about the ______ for the check. Is this a _______ occurrence?
reason/ normal
If a customer brings in a $10,000 check but typically deposits a $800.00 payroll check bi-weekly this would be..
a transaction outside of the customers normal course of business.
True or False
The scammer can spend weeks or months setting up the victim before asking for money.
True!
These types of fraud are overpayment scams. Ex. secret shoppers. Victim is hired to shop at various stores and evaluate service, told to buy multiple gifts cards and mail cards to somewhere else or read off numbers by phone, or victim is told to wire money and evaluate the service of the wire company.
Fraudulent Job Offers
This type of fraud can be where a victim is looking for a place to rent or buy and sees a great deal. They are told that multiple people are interested so a deposit is needed immediately. They may use real photos of properties. They may also claim to be a lender, loan service, financial counselor , mortgage consultant, loan broker or representative of government agencies who can help avoid a MORTGAGE FORECLOSURE and offer a great deal at the same time.
Real Estate & Mortgage Foreclosure
There is one thing that we as bank employees should always consider when you come in contact with fraud.
Your gut feeling! If it feels fishy or wrong it probably is.
When a check has multiple endorsements or a strange endorsement, it can be called..
third party checks or non-matching endorsements
List 5 of the 9 types of bank fraud.
Fraudulent job offers, lottery scams, elder abuse, warrants and shutoffs, phishing emails, ransomware, debt collectors, real estate & mortgage foreclosure, and charities and inheritance.