🚨 Fraud Friday: U.S. Cyber Risk Level Is Elevated

🔐Cybersecurity officials have raised the national cyber threat level due to a rise in coordinated attacks targeting banks, businesses, and government systems.

💡What this means:

Cybercriminals are becoming more aggressive and sophisticated in their attempts to steal personal and financial information.

🛑 Why now?

Recent global events—including geopolitical tensions, high-profile data breaches, and an increase in ransomware and phishing campaigns—have led to a spike in cybercrime activity across the U.S.

💡 How this affects you:

Scammers are taking advantage of the chaos, sending more convincing fake emails, texts, and calls to try to steal your personal and financial information.

🔸 How we’re responding:

Our systems and security teams are on high alert, monitoring 24/7 and taking all necessary precautions to protect your information.

✅ How to protect yourself:

• Don’t click on links or attachments from unknown sources
• Be wary of messages claiming to be from your bank or government
• Use strong, unique passwords and turn on multi-factor authentication
• Check your accounts often and set up alerts for unusual activity

🏦 Reminder: We will never ask you for your password, PIN, or verification codes by phone, text, or email.

⚠️Don’t Use P2P? You’re Still a Target

Think you’re safe because you don’t use payment apps? Think again. Fraudsters are getting creative.

Peer-to-peer (P2P) payment apps like Venmo, Cash App, Zelle®, and PayPal make it easy to send money instantly — but that convenience can come with serious risks. Once you send money, it’s usually gone for good, and scammers know it.

Unfortunately, P2P fraud is one of the hottest trends among cyber criminals. Even if you don’t use P2P, you can be a victim. A whopping 74% of Americans say they have received a scam text this year, while 83% have received a scam phone call. In a recent six-month period, the U.S. Federal Trade Commission saw more than that cost victims about $108 million.

 🦹The Scam Playbook

P2P fraud often begins through a text message asking whether a transaction looks familiar. When you reply, the fraudster calls and explains that they are there to help. They often share information they know about you—such as phone number, address, birthday and more—which is easy to find on the internet. Finally, they attempt to get your password or have you reset it. They may even ask you to transfer money.

Sometimes scammers will pose as legitimate business and ask you to send a P2P payment for a good or service but never send the good or service after they receive payment.

Another common scam involves a fraudster “accidentally” sending you a P2P payment and asking you to send the money back, or they may overpay you for something you’re trying to sell online. This mistake of sending money might seem innocent, but the scammer likely deposited the money into their account from a stolen credit card or bank account. If the P2P platform eventually flags the transaction as fraud, it could hold you responsible for repaying those funds. Instead of sending the money back, always contact the P2P service directly to remedy the error.

😡Real-Life Example

Someone selling concert tickets online asks for payment via a P2P app. You send the money — but the tickets never arrive. The seller vanishes. There’s no refund, and no way to track them down.

💡 Why Use Your Bank’s P2P Over Third-Party Apps?

While apps like Venmo®, Zelle®*, and Cash App® are popular, they’re not all created equal — especially when it comes to security and accountability.

If your bank offers a P2P payment option inside your online or mobile banking, here’s why you should use it:

✅ Built-In Bank Protection

Your bank’s P2P tool is connected directly to your account — no third parties involved. That means:

• Better fraud monitoring
• More secure transactions
• Direct customer support if something goes wrong

🔐 Stronger Security

Because it’s within online banking, it’s protected by the same multi-layered security you already trust with your money.

🛡️ Fewer Scams, More Control

Scammers often target third-party apps. Your bank’s system reduces exposure to fake accounts and phishing tricks.

📞 Real Support, Real People

Having a problem? You can talk to a real person at your bank, not a chatbot or a generic help center.

👉 Bottom Line:

If your bank offers a P2P payment option, it’s the safest place to start. It may not have emojis or friend feeds — but it has something better: protection and peace of mind.

🔍How to Prevent P2P Fraud

🏃‍♂️The fast track…

✅ Only send money to people you know and trust

✅ Double-check usernames, phone numbers, and email addresses

✅ Never pay for goods or services from strangers through a P2P app

✅ Ignore urgent requests that pressure you to send money quickly

✅ Don’t share your verification codes or PINs — ever

🔍P2P Fraud Prevention

🤿The Deep Dive...

1. Enhance Security for Your Accounts 🛡️

Check the settings on your digital banking account and enable all security features, especially multi-factor authentication (MFA). MFA makes it more difficult for a hacker to gain account access by requiring a third piece of authenticating information that supplements usernames and passwords. Typically, this third piece of information is a code sent via text, phone call or email.

2. Keep Your Password to Yourself 🤫

Never share your password with anyone. No financial institution should ever ask you for your password.

Further, ensure your digital banking password is secure and use unique passwords for all important accounts. Ideally, your password should be at least 15 characters. And while password length is important, complexity amplifies strength. To maximize security, consider using a passphrase or complete punctuated sentence. Your passwords should not contain any identifying information, such as a spouse’s name, important dates, hobbies, etc.

3. Avoid Suspicious Links 🤔🤨

Never click on a link sent to you in a text or email you weren’t expecting. Before clicking on any email link, hover over it with your mouse to see what site the link directs to. If the underlying address does not match the address in the email, do not click it. Verifying the link is legitimate by contacting the sender is always a safe measure.

4. Don’t Feel Pressured 🙅‍♂️🙅‍♀️

Don’t feel pressured during a conversation or when reading an urgent email. Fraudsters often use scare tactics or forced urgency to make you feel like you must act immediately. If someone urges you to act fast or emphasizes scary outcomes, their claims are likely fraudulent. Take a step back and evaluate the situation to avoid making decisions that might put you at risk.

Additionally, exercise caution if someone claiming to be from a financial institution pressures you for payment with an unexpected phone call or text. Typically, institutions send a written statement or correspondence via mail or email to alert you of payments.

5. Confirm the Caller 🔍

If someone claiming to be associated with a financial institution calls you to discuss potential fraud on your account, confirm that caller’s identity. Ask their name, then hang up and call the institution directly to ask for them. You can also call the number on the back of your card.

6. Never Send A Payment To Yourself💰

Never send a payment to yourself, especially at the direction of someone helping you. Fraudsters may call and impersonate your financial institution, claiming to alert you to suspicious activity on your account or to ensure your account isn’t frozen. These scammers often try to make you think you’re sending money to yourself when you’re sending money to them.

7. Stay Vigilant 👀

Fraudsters can spoof phone numbers to make it look like they are calling from your financial institution, so it’s important to stay vigilant. Spoofing is an effective way for cyber criminals to disguise their identity, allowing them to display what looks like a legitimate number on your caller ID. It may not be immediately apparent if a call is spoofed, so exercise caution when answering calls from unknown numbers and responding to requests for personal information.

Fraud Friday: When Love is a Lie – Watch Out for Romance Scams!

They pretend to love you… but they’re only after your money.

Romance scams are on the rise, and the emotional and financial toll they leave behind is devastating.

 What is a Romance Scam?

A romance scam occurs when a criminal creates a fake online identity to gain a victim’s affection and trust. The scammer then manipulates the victim into sending money, gifts, or personal information — all under the false pretense of a romantic relationship.

Red Flags of a Romance Scam:

1. They fall in love FAST – Within days or weeks, they’re professing deep love.
2. They won’t meet in person – They claim to be overseas, in the military, or working on an oil rig.
3. They avoid video calls – Excuses like bad internet or broken cameras are common.
4. They ask for money – For travel, medical emergencies, visa issues, or a sudden “investment opportunity.”
5. They isolate you – Discouraging you from telling friends or family about them.
6. They spin emotional stories – Designed to manipulate your heart and your wallet.

Common Tactics Used by Romance Scammers:

• Fake profiles on dating sites or social media
• Phishing emails with flirty or romantic messages
• Stolen photos of real people (often models or military personnel)
• Promises of marriage or a future together

How to Protect Yourself:

✅ Never send money or gift cards to someone you haven’t met in person.
✅ Do a reverse image search of their profile photo.
✅ Be cautious if they quickly move the conversation off a dating app.
✅ Talk to someone you trust before taking any action.
✅ Report suspicious profiles to the platform you met them on.