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Financial institutions are popular scam targets (yes, even Summit), but their attempts span all industries and affect entire communities. By getting the word out on scams to you – and by you sharing it with family and friends, too – we can all look out for each other. Scammers pretend to be someone credible (like your financial institution or a government agency, for example). But they’re really trying to get any personal information from you that they can use to log in to your accounts and steal your money – or your identity.They often try to get what they need by reaching out with:
  • An email – known as “phishing” (because they’re literally fishing for info!)
  • A text – known as “smishing” (phishing via SMS text messages)
  • A phone call – known as “vishing” (voice phishing)

And red flags usually go along with these scam tactics:

  • Pressure to act quickly. Scammers hope you’ll act before you have a chance to think it through or see if they’re legit.
  • Threats of legal action or arrest. Don’t let someone try to scare you into sharing info.
  • Things that are too good to be true. Like free prizes or unexpected money (for example, cash that shows up in your account or a refund).
  • Unusual payment requests. Someone asks you to pay with gift cards, iTunes vouchers or quick transfers or wires to random people? Nope.
  • Misspelled words and bad grammar. Fraudsters are less about getting things right and more about getting your money!