Types of Fraud
There’s no denying that fraudsters have created sophisticated ways to scam individuals out of their money, but learning about the different types of fraud and being able to spot them are the first steps to protecting yourself.
Scammers steal your credentials (e.g. passwords) in order to gain access to your accounts. They can then change your passwords, lock you out of your account, or download your private information.
Scammers try to trick you into authorizing illegal wire transfers.
Telephone and text scams
Scammers make their phone calls look legitimate by using spoofing technology to display Sandy Spring Bank’s name and phone number on Caller ID. Once on the phone, they will attempt to gain your trust while asking you for sensitive information. Fraudsters may also send fake text messages to try and scam consumers. Remember: Sandy Spring Bank will never contact you via email, text or phone to confirm or request your online banking credentials (including verification questions and answers) or to ask for your account or card information. These are popular tactics of criminals who are attempting to defraud you.
Scammers lock you out of your computer system or data until you pay them a ransom.
Scammers send you emails containing fraudulent links that, if clicked, download malicious software (malware) onto your computer.
Click here to learn what you should do if you suspect you are a victim of fraud.