Timely Topics:
Combating Check Fraud: Still A Major Challenge In The Digital Age
Another recent check fraud scheme financial institutions have been combatting is fraudsters leveraging unwitting accomplices via Instagram. These individuals are contacting Instagram users and paying them to use their accounts to commit the scam. Then, the fraudster utilizes these accounts to post photos of bank account statements with large balances and claims how easy it was to make money through a “currency exchange.” If the target agrees, the fraudster sends the target a check to deposit in their bank account. Once the check is deposited, the fraudster tells the target to withdraw money from the deposit account and send it via an online money transfer system or through cash. After a couple of days, the bank notifies the victim that the check was fraudulent, and the victim could be responsible for the check’s amount.
From “ABA Risk and Compliance” Todd Robertson (7/21/2022)
Microsoft Warns Of Large-Scale AiTM Phishing Attacks Against Over 10,000 Organizations
The intrusions entailed setting up adversary-in-the-middle (AitM) phishing sites, wherein the attacker deploys a proxy server between a potential victim and the targeted website so that recipients of a phishing email are redirected to lookalike landing pages designed to capture credentials and MFA information.
From “The Hacker News” Ravie Lakshmanan (7/13/2022)
Job Hunting? Look Out For Phony Job Postings
Scammers are using the names of well-known employers to post job openings that don’t exist. The purpose? Tricking you into sending them personal information or money upfront to get the job.
From “Federal Trade Commission” Gema de las Heras (6/23/2022)
Keep An Eye Out For Norton Email Scams
As a trusted name in consumer Cyber Safety, NortonLifeLock brands are unfortunately used by hackers and scammers to take advantage of the trust we have built. These criminals fraudulently use our brand names and branding to try to trick and defraud consumers. The bad guys don’t stop with our brands—they also use the names and brands of major banks, telecoms, retailers, and credit card companies. So it is smart to be skeptical about any unexpected contact you receive—no matter how trusted the brand.
From “Norton LifeLock” Patrick Schwind (1/11/2022)
Do You Practice Safe Checks? It should come as easily as airline safety, so buckle up for this one. Despite the fact that check use has declined by 25%, reports of check fraud have soared. In fact, they’ve nearly doubled since 2021. Criminals are becoming more sophisticated and finding new ways to steal your financial […]
Learn More About Practice Safe ChecksProtect Yourself from Scammers According to a recent alert to banks from the Financial Crimes Enforcement Network, part of the Treasury Department, criminals have been increasingly targeting the U.S. Mail and United States Postal Service mail carriers since the COVID-19 pandemic to commit check fraud. Criminals typically steal personal checks, business checks, tax refund checks, […]
Learn More About Check Theft & FraudHabitat for Humanity of Horry County has been awarded $200,000 in Affordable Housing Program (AHP) funds from the Federal Home Loan Bank of Atlanta (FHLBank Atlanta), in partnership with South Atlantic Bank as the member bank. This funding will support Habitat’s mission to provide safe, affordable housing solutions for families in Horry County. The AHP […]
Learn More About Habitat for Humanity of Horry County Partners with South Atlantic BankEach year older Americans lose approximately $2.9 billion to fraud, but it is suspected that number is drastically underestimated because only one in 44 seniors report financial abuse. The following tips are helpful for seniors and their financial caregivers to proactively protect themselves and their loved ones from fraud. For more financial caregiver resources, visit […]
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