Empowering Seniors for Safe Banking in a Digital Age
Why Seniors are Often Targeted:
Older Americans often have significant savings, making them attractive targets for fraudsters. An article from CNBC highlights that Americans 60 and older lost $3.1 billion to cyberfraud in 2022, FBI data shows, with an average loss of $35,101 per victim. Additionally, adapting to fast-evolving financial technology can be challenging for some, leading to potential vulnerabilities in online banking and digital communications.
Common Scams to Watch For:
1. Tech Support Scams: Scammers posing as tech support representatives call or email, claiming that your device is infected or compromised. They request remote access or personal information, and sometimes ask for immediate payment to “fix” the issue.
2. Government Imposter Scams: Callers pretend to be from the Social Security Administration, IRS, or even local law enforcement. They may threaten arrest, fines, or deportation unless immediate payment or personal information is provided.
3. AI Caller Scams: Leveraging AI to mimic the voices of loved ones, scammers may claim to be in an emergency and need financial help right away. Always double-check with family members to confirm before acting.
Protecting Yourself and Your Loved Ones:
• Stay Skeptical of Unsolicited Messages: Avoid clicking on links or opening attachments in emails or texts from unknown senders. If someone claims to be a relative or friend in urgent need, verify the situation through another trusted family member before responding.
• Guard Your Personal Information: Never provide personal or financial details over the phone, through text, email, or social media, even if the message appears legitimate.
• Be Wary of Unusual Payment Requests: Avoid making payments via gift cards, mobile payment apps, or cryptocurrency at the request of unknown contacts. Scammers often prefer these methods since they’re difficult to trace or reverse.
• Designate a Trusted Financial Caregiver: Ensure a reliable family member or friend is authorized to help oversee financial transactions and account monitoring if needed.
What to Do If You’ve Been Scammed:
If you or someone you know falls victim to a scam, report it immediately to the Federal Trade Commission at ReportFraud.ftc.gov. Early reporting can prevent further financial losses and protect others from similar scams.
Stay Proactive and Secure:
• Safeguard Your Accounts with Strong Passwords: Avoid using easily guessed information, such as birth dates or family names. Regularly update passwords and ensure all devices have the latest security updates.
• Think Before You Click: Be cautious with emails or texts from unknown senders, especially if they request personal details or prompt immediate action. Remember, First National Bank LI will never ask for your personal information or login credentials through email or text.
• Reach Out to Us: If you’re unsure about a suspicious message or transaction, speak directly with a representative at your local First National Bank LI branch, or call 516-671-4900. We’re here to help protect your financial well-being.
Your identity and financial security are valuable assets. By staying informed and following these tips, you can enjoy peace of mind while navigating today’s digital landscape.