Types of Scams

Unfortunately, there are many situations that occur relating to scams every day. Paper City Savings Bank offers resources and tools to understand the types of scams there are, why scams tend to work, and how to prevent scams from occurring.

The most important reminder is to STOP AND THINK. Before you take any action, stop what you are doing or looking at and think about the situation at hand. Taking time to slow down and think through situations can help prevent scams.

	What is it?	Why does it work?	How to prevent it?
Shipping & Handling Scam	Completed with a Debit Card, a free product or too good to be true deal on a product is offered where you only pay for the shipping/handling costs. The charge comes through for the amount expected but the card then gets charged with additional amounts.	Scammers exploit unrealistic prices and false promises and a range of psychological tactics to keep victims engaged and override their critical thinking.	Read the fine print of the details of the product and/or company. If the company is not reputable or known, do your research ahead of time on the products offered and company as whole.
Fake Websites	Typically accessed via social media. Websites that look like a legitimate company offering some big sale or too good to be true deals.	Scammers use phishing emails or text messages that go to fake websites by emotionally manipulating, creating urgency, fear or excitement to lure people to enter personal information or make payments.	Before clicking on the link, hover over the url code to check for misspellings. Also access the website via a search for the company rather than clicking on the link.
Microsoft/Tech Support Scam	Message pops up on a device stating it is infected to call Microsoft at a certain phone number. Once that number is called, the scammer provides further instructions for buying gift cards or needing remote access to devices which can lead to unauthorized transfers of money.	Scammers use social engineering and psychological tactics to create a sense of urgency and fear, leading victims to believe a real problem exists with their device.	Look carefully at all prompts that pop up on your devices including checking the url, confirming the number listed, and looking for urgency or misspelled words. Microsoft doesn’t have the capacity to monitor all devices so calling them directly to confirm or ask questions is the best practice.
Gift Card/Cryptocurrency Scam	Scammers use fake urgent situations and have you buy gift cards or send cryptocurrency.	Scammers create a sense of urgency or a promise of large profits to manipulate victims into making quick decisions, often impersonating trusted figures to build trust.	Watch for urgency notifications and review the situation at hand in more detail. If the situation the scammers send you does not make any sense in your daily life, stop and think. Ask questions and stay diligent to situations happening.
Online Romance or Military Scam	Happens when you meet someone “special” online typically through a dating website, social media or app. The scammer uses grooming techniques to gain trust but, in the end, they are only looking for money.	Scammers manipulate human traits and emotions to build trust and invent urgent reasons or make threats to request money.	Never send money to someone you haven’t met in person, limit personal details, watch for inconsistencies, trust your instincts if something feels off and consult trusted friends.
Money Mule Scam	The transferring or moving illegally acquired money on behalf of someone else. Typically recruited by scammers through other scams and some may not be aware they are being used as a mule.	Scammers use emotional manipulation with a sense of urgency to convince people to move money derived from online scams and frauds.	Recognize the red flags of recruitment tactics, be vigilant about unsolicited communications and never transfer money on behalf of someone you do not know.
ID Theft	Person uses the identification of another person to commit fraud, theft or deception, typically for economic gain	Scammers steal and use personal information from both digital and physical systems and human mindset to impersonate an individual for financial gain.	Keep all confidential identification in a secure location and monitor if you receive any out of the ordinary requests or transactions.
Bank/Business Impersonation	Customers receive a call or text from someone claiming to be with the bank or business inquiring about a transaction or missed payment. The scammers then use the information collected from the customer to make non-authorized payments or transfers.	Scammers exploit human trust and use sophisticated tactics to trick victims into sending money or revealing sensitive information.	Stop and think about transactions or payments you have recently done. Ask to call back with more information and call the Bank or Businesses number that you have saved or can confirm is the legit number to verify request.
Mobile Deposit Loans	When e-Banking login information is given to another person or company who deposits a check through Mobile Check Deposit for borrowing money through a 'loan'.	Scammers gain your trust and claim they need your login credentials to deposit a check through e-Banking.	Never give out any login credentials for any reason. Contact your bank for username and password resets if any question on your account occurs.
Fake Job Scam	Fake companies or recruiters reach out to offer a new job, typically through social media. Once contacted, a check gets sent for ‘supplies/equipment’ but then prompted to send a portion of the money back because of sending too much.	Scammers target those that are on the job search anyway and provide an easy offer with a high paycheck, so people are intrigued with the position.	Confirm the company, job description, way of contacting and all details on the communication before proceeding. Contact the company directly rather than through social media to confirm.
Check Fraud	Illegal use of someone’s checks or check images to obtain money or goods through deception or unauthorized activity. Includes check washing, forgery, creating counterfeit checks, mobile deposit fraud, writing on closed accounts, and fake check scams.	Scammers create convincing fake checks using technology, steal and wash legitimate checks to change information, or use stolen checks for unauthorized transactions	Enroll in online banking and monitor checking account details for checks that are cashed. Keep checks in a secure, locked up location.
Wire Scam	Scammer using electronic communications (phone calls, text messages, email or online messages) to elaborate convincing scenarios to trick someone into sending them money via wire transfer.	Wire transfers are fast, irreversible and can be difficult to trace, making it challenging for victims to recover their funds.	Look for red flags when receiving requests for wire transfers. If anything seems off regarding the transaction, contact the Bank first before proceeding to talk through the process.

Are you a victim?

Do you feel you are a victim of a scam or know of anyone that may be a victim? Follow these recommendations to help:

Contact your Bank by calling the number you have on file.
Change your usernames and passwords.
Contact your local police department to file a police report, if applicable.
Visit our Fraud Scam and Cyber Security page on PCSBank website for details.

Contact Paper City Savings Bank for any help or questions you may have regarding scams. We are here to help – 715-423-8100.