CHARLOTTESVILLE, VA (CVILLE RIGHT NOW) – What happens when you or someone you love is targeted by a fraudulent email, computer pop-up, or text message? There is an urgency that causes confusion and impulsive decisions. We’ve all been there, but we don’t always know what to do. At Virginia National Bank, they have a fraud expert on staff. Sherrie Huber, VNB’s fraud expert, Chief Operations Officer and Audit Manager, says their local customers have received as many as half of million attempts of fraud per month.
“What we’ve been seeing is that customers will either get a call or a pop up on their computer and they’ll either answer the call or call the number that pops up on their computer and they go through a series of you’ve gotten a virus on your computer and they’re going to connect you to your bank,” Huber said on the Virginia National Bank: My Forever Bank podcast. “What actually happens is you think they’re connecting you and they’re on the line with you and you hear welcome to Virginia National Bank and what they’re doing is they’re ending the call and a person from their call center is coming on and you think that’s a bank employee.”
What can be so difficult about these attempts at fraud is how elaborate the schemes are which can make it very difficult to discern that the call is not legitimate.
“So they’re convincing you they’re from the bank’s [fake]’fraud department’, fraud in air quotes that your account has been compromised, and in some instances they say that bank employees are involved in it, so don’t talk to anyone at the bank so don’t trust them,” Huber said. “So, that’s the number one red flag when somebody tells you not to tell the bank the real reason why you’re conducting a transaction that is one hundred percent every time a scam.” Huber said. Virginia National Bank’s fraud department helped save customers nearly $500,000 dollars in losses from these attempts at fraud in the month of September and they are well aware that they must remain diligent to stay ahead of the criminal enterprise that is looking to take advantage of unsuspecting bank customers.
“We’ve had several customers in the last month I would say five or six totaling almost a half of million dollars of total loss, we didn’t save all of it but we did save the majority of it and we’re very proud of that.” Huber said.
Those with criminal intent will also go as far as trying to create in-person opportunities the defraud you with detailed fabrications.
“We also had someone dangerously meet someone with money,” she said. “They had convinced them that there was a fraudulent bank employee, and to go into the bank and take out their money before [the employee] they could steal it and [told the customer] take it to me, I’m the I-T person and I will protect it for you.” While the schemes continue to get more and more complex, Huber says protecting yourself from financial fraud really comes down to a few simple rules that need to be remembered at all times.
“Number one thing, if somebody asks you to move money, it’s one hundred percent a scam. No legitimate company would ever ask you to do that,” Huber said. “If you didn’t initiate it (a message on your computer or your phone regarding your account), ignore it. If it says you have a possible fraudulent transaction on your bank account, don’t text back, don’t call the number that is provided for you in the link or the text, call independently.” Huber continued. “If you get an email saying you’ve got a charge to apple and you don’t even have an iPhone, just ignore it. If you owe somebody money they’re gonna send you another bill (by mail).”
Technology has become the top mechanism to defraud people financially, so according to the expert, stick with the traditional forms of communication for financial information, which includes your mail, and independently calling your financial institution and talking to an actual person, not an A-I to look into any suspicious activity or solicitations you may receive.
You can listen to the entire podcast episode below:
