Protecting Yourself from Common Scams

Protecting Yourself from Common Scams

Scammers continue to evolve their tactics to steal your personal and financial information. Here are some examples of prevalent scams targeting consumers and some steps you can take to protect yourself.

1. QR Code Scams

Quick response, or QR codes have become an important part of modern life, offering a convenient way to access websites, make payments, and share information with a quick scan. However, scammers are exploiting the convenience of QR codes to trick unsuspecting individuals into revealing sensitive information or transferring money.

QR codes are not inherently dangerous, but scammers can manipulate the underlying URL or action linked to the code. Scanning a manipulated QR code could lead you to a malicious website, install malware on your phone, or redirect you to a fraudulent portal designed to steal your money or personal information. There are steps you can take to protect yourself:

• • Always confirm the authenticity of a QR code before scanning it. If you receive a QR code via email, text, or social media message, ensure it is from a trusted source. Be especially cautious of unsolicited codes.

  • If a QR code leads to a website that immediately asks for personal or payment information, be suspicious. Check the URL for inconsistencies or minor spelling errors that indicate it could be fraudulent.

  • There are mobile apps available that offer secure QR code scanning, alerting you to suspicious links or potential risks before they are opened. Consider using these apps instead of your phone’s built-in camera. Some examples include:

    • Sale QR Reader by TrendMicro

    • QR & Barcode Reader by Gamma Play

    • QR Code Reader by TeaCapps
      
      

  • If you encounter a QR code in a public space like on a flyer or poster, ensure it is from a reputable organization before scanning it. Scammers often tamper with or place fake QR codes in busy areas to lure victims.

  • Regularly check your bank and payment accounts for any unauthorized activity. If you suspect you have scanned a fraudulent QR code, contact your bank immediately. 

Remember, if something seems off it is better to err on the side of caution.

2. Imposter Scams

Imposters pretend to be someone you trust in order to convince you to share personal information or transfer money. They may claim to be a bank employee, tech support, a government official or law enforcement officer, or even a family member. Imposters can be convincing and catch even the most cautious individuals off guard.

• • If someone contacts you claiming to be from a trusted organization, do not provide any personal information. Hang up and call the organization directly using a number you known is legitimate. If they try to stop you from doing this, you should be particularly suspicious; most reputable organizations will welcome this type of care.

  • Banks and government agencies will never ask for sensitive information like passwords, Social Security numbers, one-time passcodes, or bank account details over the phone, email, or text. If you are asked to provide such information, it is a scam.

  • Scammers often try to create a sense of urgency, pressuring you to act immediately. Pause and take a moment before divulging any information. Legitimate organizations will not demand instant payments or pressure you into making hasty decisions.

  • Scammers can spoof caller ID to make it appear as if they are calling from a legitimate company or agency. Always verify who is on the other end by contacting the organization directly.

You can protect yourself by taking a few extra steps to verify who you are in communication with, and by not letting yourself be pressured into making a hasty decision.

3. Mail Theft-Related Check Fraud

Criminals may steal checks and then alter the amount and/or payee in an attempt to fraudulently cash or spend them. They may also use the stolen checks to create counterfeits, or they may sell the check or the information on it on the internet.

There are steps you can take to protect yourself from mail theft-related check fraud:

• • Sign up for Informed Delivery, a free service offered by the USPS that shows you preview images of incoming mail. That way you will know what to expect in your mailbox, and more importantly you will know when something is missing.

  • Do not leave outgoing mail in your mailbox. If possible, bring it inside your local post office.

  • If you are going to be away from home, use the USPS Hold Mail service, or have someone you trust collect your mail.

Monitor your bank accounts and report any unusual or unauthorized activity as soon as possible.

4. Romance Scams

Tens of thousands of Americans lose more than $1 billion annually to romance scams. Scammers can use dating and social media apps to find their victims, and while they will adjust their tactics to what they think will work in each situation. There are common red flags that may indicate someone is a scammer:

• • Scammers might say they are living or traveling outside of the country, working on an offshore oil rig or ship, in the military, or working with an international organization. Whatever the reason, they will not be able to meet in person.

  • Once they gain your trust, scammers will ask for money. They may claim they need your help to pay medical expenses (for them or a family member), buy their ticket to visit you, pay for their visa, or help them pay fees to get them out of trouble. They may even offer to help you get started in cryptocurrency investing or some other business venture.

  • Scammers want to get their hands on your money quickly, and in a way that makes it hard for you to get it back. They may tell you to wire money through a company like Western Union^© or MoneyGram^©, put money on gift cards (like Amazon^©, Google Play^©, or iTunes^©) and give them the PIN codes, send money through a money transfer app (e.g., Zelle^©), transfer cryptocurrency, or even ship cash!

Remember: never send money, gifts, or personal information to someone you have not met in person.

Staying informed and being cautious is the best defense against being a victim. If you have any concerns about activity in your account or want more information about these or any other scams targeting consumers please contact your local Kearny Bank branch.

Written by Ken Helmrich / SVP | BSA/OFAC Officer

About Ken:

Ken Helmrich is a Senior Vice President and Kearny Bank’s BSA/OFAC Officer. Ken is responsible for managing the Bank’s BSA/AML and OFAC compliance program including client due diligence, enhanced due diligence for higher risk clients, transaction monitoring,  case investigation, and BSA reporting.

Ken has nearly 20 years of banking experience, and has been with Kearny Bank since 2020. He holds a bachelor’s degree from Fordham University and is a member of the Association of Certified Anti-Money Laundering Specialists as well as the Association of Certified Financial Crime Specialists.