SCAM OF THE WEEK: Watch Out for Bank Phishing Scams

Many people see email as a convenient and effective way to receive information. Popular banks have even started using email as a primary method of communication to send account updates to their customers. Now, cybercriminals are imitating banks in their phishing emails to try to manipulate you and steal your sensitive information.

To start the scam, cybercriminals send you an exact copy of a real bank email to appear legitimate. The email states that your bank is implementing new security measures that will affect your account. Then, the email provides a link that you can click for more information. This link will redirect you to a spoofed login webpage. If you enter your login credentials, cybercriminals will be able to use them to access your bank account and steal your money.

Follow the tips below to help you stay safe from similar scams:

• Before you click a link, always hover your mouse over it. Watch out for spelling mistakes or suspiciously long URLs that can hide a website's true domain.
• Cybercriminals often use urgent or alarming claims to trick you into clicking malicious links. Always visit the organization’s website directly to log in to your account.
• Enable multi-factor authentication (MFA) on your accounts when it is available. MFA adds a layer of security by requiring that you provide additional verification to log in to your account.

For more information about IT and cybersecurity services for small and medium businesses or to schedule a free initial consultation with no obligation for your business, contact ORAM Corporate Advisors now at (617) 933-5060.