Banks Recommend That People Recognize, React, And Report Scams

Summary

Banks advise customers to recognize, react to, and report scams to protect their finances.

Abstract

Banks continue to play a crucial role in the financial lives of Americans, despite changes in the services they offer. With the rise of financial scams, banks are proactively warning customers to stay vigilant. They recommend a three-step approach: RECOGNIZE potential scams by being aware of common fraud tactics, REACT by safeguarding personal information and being cautious with unsolicited offers, and REPORT any suspicious activity to the appropriate authorities and financial institutions. This guidance is particularly important for senior citizens, who are often targeted by scammers. The article emphasizes that by following these steps, individuals can significantly reduce their risk of becoming victims of financial exploitation.

Opinions

Banks are actively involved in customer safety and fraud prevention.
It is crucial to be skeptical of unsolicited offers, especially those requiring personal or financial information.
Elderly individuals are seen as more vulnerable to scams and require extra caution.
Immediate action should be taken to protect one's assets if a scam is suspected.
Reporting scams is an essential step in preventing further criminal activity and protecting others.
The article suggests that common sense is a valuable tool; if something seems too good to be true, it likely is a scam.

Don’t become a victim

Banks are still important for most Americans.

Although some of the services provided by banks have changed in recent years, banks are still used regularly. They want to keep their customers safe and sometimes send out helpful information.

One of the biggest financial problems people face these days may be the proliferation of scams. Banks may send out warnings about scams and the criminals perpetrating them so that their customers might be kept safe.

These are recommendations from a bank in order to keep from falling victim to the scams which are financial exploitation.

RECOGNIZE. REACT. REPORT.

RECOGNIZE THE POSSIBLE SCAMS. Learn about signs of financial fraud and learn how to protect yourself. There are always reports of scams which are going around. Do not respond to unsolicited offers and hang up on suspicious calls.

Criminals are trying to defraud innocent people out of their assets. They are often targeting senior citizens.

Be suspicious if:

A communication says you won a money or a prize, but you need to give bank information to receive it or pay for shipping and processing.

Someone phones and says they are from the IRS or another government agency and you need to pay money.

A person sends a message saying a relative is in trouble and needs money.

REACT. Protect yourself.

Organize and store important documents in a safe location. Consider who has access to your accounts. Protect your personal information and passwords. Do not give out financial information to suspicious people. Do not send money or respond to possible scams.

REPORT. People to call…

If you suspect suspicious activity or a scam, you can report it to the police. You can call your bank or credit card company. A “fraud alert” on your credit file can be placed with any of the three credit reporting agencies.

No one wants to lose money to scammers and be cheated by criminals. Protect yourself by remembering to RECOGNIZE. REACT. REPORT.

Remember — if it sounds too good to be true, it probably is!

Thank you for reading. Stay safe!